| Page Properties | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ||||||||||||
|
Use this to create Salary Sacrifice pay components. The table below lists 3 examples for each salary sacrifice type.
| Warning | ||
|---|---|---|
| ||
If you're creating a Salary Sacrifice for Superannuation, then you should make sure the Super Fund Provider already exists. If not then add them as a Vendor prior to setting up the employee's Salary Sacrifice. |
| Panel | ||||
|---|---|---|---|---|
| ||||
|
| Field | Description | Exempt Benefit | Fringe Benefit | Superannuation |
|---|---|---|---|---|
| Pay Component Type | Defaults depending on the button selected on the employee record | Salary Sacrifice | Salary Sacrifice | Salary Sacrifice |
| Pay Component Sub Type | Select one of the following types of salary sacrifice | Salary Sacrifice-Exempt Benefit | Salary Sacrifice-Fringe Benefit | Salary Sacrifice-Superannuation |
| Description | Defaults from pay component sub type |
| UOM | Defaults to year | Year | Year | Year |
| Rate | Enter the amount to be sacrificed | $1200 | $1200 | $1200 |
| Amount | Rate | $1200 | $1200 | $1200 |
| Amount Per Period | Amount / Number of Periods | $23.08 (based on weekly pay frequency) | $23.08 (based on weekly pay frequency) | $23.08 (based on weekly pay frequency) |
| Reduce Employer Contribution | Available if you select Salary Sacrifice Superannuation | Select if the amount of superannuation is to be deducted from the amount to be paid by the employer | ||
| Is Percentage | Signifies if the calculation is based on a percentage and may need recalculating on pay slips | Can not enter a rate and percentage on same sub component | Can not enter a rate and percentage on same sub component | Can not enter a rate and percentage on same sub component |
| Percentage Type | Available if you select Is Percentage | Salary Sacrifice | Salary Sacrifice | Salary Sacrifice |
| Percentage | Available if you select Is Percentage |
| Payee | Select the Vendor that will receive this payment |
| Select your Super Fund Provider | |||
| Balance Sheet Account | Defaults from the vendor selected |
| Superannuation Payable | ||
| Start Date | Start date that this pay component becomes valid |
| End Date | Leave blank |
| Department | Enter if required |
| Class | Enter if required |
| Location | Enter if required |
| FBT Record | Available if pay component sub type is Salary Sacrifice-Fringe Benefit |
| Select/create FBT record for the employee |
| Range Amount |
| Reference |
| Current | Marked | Marked | Marked | Marked |
| Loading Rate |
Use this to create salary sacrifice pay sub components. The table below lists 3 examples for each salary sacrifice type.
To add another Pay Component, go back to step 811. Add Pay Component sub tabComponents.