Employee Termination Payments (ETP)

Facilitate Employment Termination Payments (ETP) in foundU's fit-for-purpose module

For everyday terminations, foundU’s payroll system lets you pay out leave and hours in a final payslip.  There are often circumstances where a separate payment needs to be made for lump sums, redundancies, and other items, and this is where an Employment Termination Payment (ETP) is required. 

In foundU we’ve made ETP’s easy, generating in their own section within the Pay page.  If you’re not familiar with the ATO’s requirements for ETP’s you can get informed here, and then you’ll recognise the codes and termination types that you’ll see in the platform. 

Before you get started, pay out any unused leave in the final standard payslip. 

Next, go to Draft payslips on the Pay page and click ETP, and then select Create New Payment.  Select the Employee, Financial Year Ending and Payment Date, and then click Add New Payment

Making ETP PaymentChoose the right Termination Type from the drop-down menu and then the relevant ETP code. 

Then you’ll want to input all the exciting Tax and Super values. 

Hit Preview the PDF and calculate the Total Payment! 

Almost done.  The final step is to Create Payment. 

Click Save Changes when the confirmation appears.  This generates a pdf which is available for the employee to download in their Employee Portal. 

Can I delete?  Yes you can.  Make sure you’re in the ETP page and then use the filters to find your specific ETP.   

You can also run a report on your ETPs, which you’ll find in Reports > Financial Report Centre > ETP Report. You’ll be able to export to pdf or csv. 

Making ETP PaymentThere you have it.  Easy Peezy ETPs.