TERS Benefit received after Salaries paid

SOLVED

How should I process the TERS benefit received after salaries have been paid, as this impacts the PAYE and UIF?

Thanks

Liezle

  • 0
    verified answer

    Usually UIF payments are non-taxable, so please confirm with your tax practitioner if this will be handled in the same way.

     

    Depending on your tax practitioners advise:

    For taxable pay-outs you can copy definition Taxable Income and call it TERS Pay-out

    For non-taxable pay-outs you can copy definition Non-Taxable Income and call it TERS Pay-out


    To add this, click on:

    - Company

    - Global Payslip Definitions

    - In the top left hand corner there is a search bar, type in "....", it will show the line setup that you require.

    - Click on the copy icon to the far left of the line (the 2 papers)

    - the copied line will show right at the bottom. Rename it in all 3 description columns to whatever you would like and save when done.

     

    After the new line has been added, click on Payslip Definition Template tab.

    - Click on the + sign next to the applicable definition column and 'add' the new line that you just created.

     

    Before you save please ensure that you have ticked the company/cycle on the far right hand side of the screen under the title "Linked to cycle".

    Regards, 
    Luanne

  • 0 in reply to Shazi

    Hi there, We paid our employees in full for May and already paid the PAYE.

    TERS only paid out yesterday. Should I amend the payroll for May? Which will affect the PAYE which was already paid - or do the adjustments in June?