Should I Add “Opening Balance” When Creating an Employee?

Modified on Thu, 26 Jun at 9:41 AM

No, you only need to enter Opening Balances and End of Service (EOS) Opening Balances for employees who were employed before your first payroll run in Magnar.


Example:

If Employee A joined your company in April 2022, and you ran your first payroll with Magnar in April 2025, you must enter their opening balances to reflect their accumulated leave and indemnity entitlements from the past three years.


However, for employees who join on or after April 2025, opening balances are not required, since all leave and EOS entitlements will be tracked within Magnar from day one.

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