The IQ Leave Liability Variance Report (IQB-LLV001) provides details of employee leave balance movements between two completed Period End dates.
This report is useful to calculate the changes in Leave Liability or to check that employee leave accruals are calculated correctly. Unlike the Leave Summary and Liability Report, this IQ will show balances as per a previous period end date (e.g., the balance at the last period end date in the previous financial year), which allows you to produce leave balances for periods after you have processed subsequent pays.
The report includes the rate that was current at the time the leave was accrued. If an employee received a rate change between the two periods, this will increase the Carry Forward and Variance amounts by the rate increase. For example:
Employee has an annual leave balance of 100 hours as at 31/3/2024 and a rate of $30. This would give them a Bring Forward balance of $3,000.
They receive a pay increase on 10/3/2024 to $32 per hour.
They are a full-time employee working 7.5 hours per day and are paid monthly. Therefore, they accrue 12.33 hours between 31/3/2024 and 30/4/2024.
As of 30/4/2024, their leave balance is 112.33 hours. Multiplied by their new rate ($32), giving a Carry Forward Balance of $3,594.56.
The variance is $594.5,6 which consists of:
100 (Bring forward hours) * $2 (rate change) = $200
12.33 (Leave Accrual) * $32 (new rate) = $394.56
To run the Leave Liability Variance Report
Go to Common, IQ.
Double click on IQB-LLV001 - Leave Liability Variance.
In B/Fwd Period End Date, enter the Pay Period End date you want to see the leave movements from. Date Format is DD/MM/YYYY.
In the C/Fwd Period End date, enter the Pay Period End date you want to see the leave movement up to. Date Format is DD/MM/YYYY.
To Include Long Service Leave ProRata (i.e., prorata LSL for employees who aren't yet entitled), enter 1 for True, otherwise 0 for False.
To Include Sick Leave, enter 1 for True, otherwise 0 for False.
Click OK to run the report. Results will show in a grid window.
To export the results to Excel, click Save Grid.
Note: Period end date selections must match Period End dates processed in MicrOpay. Go to Payroll, Maintenance, General, Pay Frequencies, and Edit the Pay Frequency to view a list of processed Period end dates for the current financial year.