The payment date is the date on which you intend to transfer payment to the selected employees. If you pay employees electronically it would be the date you intend to transfer the money to the banks, it's not necessarily the date your employees receive their pay. The banks can take a few days to process electronic payments, or cheques might take a few days to clear.
The payment date also determines the financial year the payroll belongs to and also the month in which super earning thresholds are calculated.
|What is the payment date used for?|
Selecting the Payment date
- From the Payment Date drop-down select the correct date
Note: The payment date will default to today’s date.
- Click on Save to move onto the next step in processing your payroll
Editing the Payment Date in Payroll
Once you are in the payroll you can still edit the Payroll date before you process the payroll. To do this:
- Click on the Payment Date icon on the main toolbar
- Make the change to the Payment Date drop-down
- Click on Save.
- This will update the Payment date in the bottom right of the Payroll advice window