How should I process the TERS benefit received after salaries have been paid, as this impacts the PAYE and UIF?
Thanks
Liezle
How should I process the TERS benefit received after salaries have been paid, as this impacts the PAYE and UIF?
Thanks
Liezle
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
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?
*Community Hub is the new name for Sage City