YTD in Payslip

Full Form of YTD

YTD stands for ‘Year To Date’. It is the period between the beginning of the year until today.

YTD in Payroll

Year to Date in Payroll is the values accrued from the beginning of the financial year until the current pay period.

YTD of Salary Head

Year to Date of Salary Head is the cumulative earnings accrued in the Salary Head from the beginning of the financial year until the current pay period.

YTD Payslip

A payslip shows Salary Heads organized as Earnings and Deductions. A YTD Payslip also shows the YTD value of each Salary Head. So, a YTD Payslip shows two amounts against each Salary head; the value of the Salary Head for the current period, and the accrued value of the Salary Head for the financial year.

Year to Date Earnings

Year to Date Earnings refer to the amount of money an individual has earned from the start of the financial year until the current payroll period.

Year to Date Deductions

Year to Date Deductions refer to the money deducted from your total earnings from the start of the financial year until the current payroll period

Year to Date Payroll for a Business

Year to Date payroll for a business is the amount of money spent on payroll for the current financial year. YTD payroll lets you compare employee payroll expenses against the annual budget for those costs. YTD Payroll also helps to predict the tax liability of the business and helps to make hiring decisions.

Year to Date Payroll for an Employee

Year to Date payroll for an employee is the gross income earned during the current financial year. A YTD payslip shows accrued values for each salary head; this helps employees to predict the tax liability and also shows details on the tax paid so far.

Frequently Asked Questions

How to calculate YTD in payslip?

To show YTD in payslip, you have to calculate accrued values for each Salary Head in the financial year. As this data has to come from multiple pay periods, it’s best to use a payroll software to generate YTD Payslips for your employees.

What are the advantages of showing YTD values in pay slip?

YTD Payslip shows you accrued values for each Salary Head for the current financial year. For example, a YTD Payslip gives useful information such as ‘Income Tax accrued in the current financial year’, ‘Income Tax paid so far for the current financial year’, ‘Commission received in the current financial year’ and so on.

Where to get YTD salary slips in Lenvica HRMS?

Lenvica HRMS has payslips with and without YTD Salary Head values. You can find them under the Salary Reports.

What does YTD on a salary slip mean?

YTD is the acronym for Year to Date. A YTD salary slip shows Salary Head values in YTD. It means, each salary head has a value for the current pay period and a cumulative value for the current financial year.