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Create A Payslip Using Standard Pays Option

This article will explain the Standard Pay Options that are available in Wagemaster so the users can process payslips for employees based on a fixed number of hours they've worked within a pay period. 

 

 

There is no need for timesheet entry, with start and finish times, rather the application of a predetermined number of hours for payment.

Standard pays processing is only available for bi-monthly, monthly and calendar monthly pay
periods. For other pay frequencies, where standard hours are worked, the predefined
timesheet option provides a payslip based on shift start and finish times.

The video will cover:

  • What is the standard pays option?
  • Adding standard pays option to the employee's records before the payslip run
  • Creating the payslip with the standard pays data preloaded into the payslip

Please Note: 

We recommend entering the hours through a timesheet. However, you can check with your accountant if that is a mandatory requirement for the industry and awards that apply to you.

As part of annualized salaries from 1st March, employers need to record the annual wage arrangement in writing and give their employees a copy.

This has to include:

  • The annual wage that will be paid.
  • Which award entitlements are included in the annual wage.
  • How the annual wage has been calculated, including any assumptions used in the calculation.
  • The maximum (or outer limit) number of penalty hours and overtime hours the employee can work in a pay period or roster cycle without extra payment.

The employer must also record the employees:

  • Starting and finishing times.
  • Unpaid breaks are taken.

Employees have to acknowledge the record of hours they've worked is correct by signing in writing or electronically at the end of every pay period or roster cycle. This record is used for annual reconciliations. You can refer to the fair work website for further details:

Next Step: How To Create Payslip With Leave

Or Skip To How To Process STP Reporting

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