Manual Data Points

Manual Data Points

Manual Data Point’s are used to normalise owners wages/superannuation and rent.

Open

Calculating Owners wages - include Admin work done in total hours ( opportunity cost is considered here, would your time be better spent as a Vet than doing admin/bookkeeping ). We just enter total salary, total hours worked at the clinic. Same for Practice manager role ( other associated persons )

Xero/MYOB Coding

A spreadsheet has been created in google sheets to help with the calculation:
https://docs.google.com/spreadsheets/d/1L-lpJjBW6XKgOHZs1GPsyIdu9bYTevyGp4uL9UwwKX0/edit#gid=1579352866

Open

Coded to Associated Persons - Y will replace Associated persons / Directors wages.

How to use Manual data points

1. You can enter a single amount for a month by entering the figure under the appropriate year/month
   
   
   
   

   
   
   
   

2. Under each data entry box there is the opportunity to enter a figure and fill forward until the next update. This is the best method. Click in the box → then on the -> under the box shown above. The Apply Formula Pop up box will appear.
   
   
   

   
   
   

    

3. Fill in the normalisation amount and click on the apply button. it will fill forward. See below.
   
   
   

    

4. Click on save once you finished.
   
   

5. Accessing Manual Data Points and what they are for
   
   

6. Setting the wages when there is no accounting and wages not given. Calculate 40-44% ( 43% National Average)

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