We get a lot of phone calls as to why the amount showing on the Leave Reports for Annual Leave differs to the amount actually paid to an employee when they terminate.
The answer is very simple, accrued leave is valued on the basis of the higher of Normal Pay or the Average Pay over the last 52 weeks. Termination pay is a straigh % calculation of gross less any advanced holiday pay you have already received.
Some examples can be read here – Termination Pay Examples
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