Round The Net Pay By:

Legacy KB ID: 2592

Question

How does the Net Pay rounding work in Payroll?

Answer

The functionality of the 'Round the net pay by;' function will differ if the employee is paid by cash or cheque/bank deposit.

For example, the employee may be entitled to:
 
Gross $123.41
Tax $23.00
Net $100.41
 
This is how the employee will be paid for cheque payments and bank deposits. However if the business pays employees by cash, Payroll Premier will place the odd cents in the tax figure. This is because the smallest coinage denomination is 5 cents.  Thus the payment will become:
 
Gross $123.41
Tax $23.01
Net $100.40

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