How to create a deduction for pay advance to members
To create a new deduction for staff repayment of loans, you can follow these steps:
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Navigate to the "Additions and Deductions" section within your system.
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Select the option to create a new deduction "PAYINADVANCE.
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Enter the relevant details for the loan repayment deduction, ensuring you specify that it is for a pay in advance.
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Addition: Is used when you wish to add an amount to the Members Pay.
Deduction: Is used when you are wanted to deduct an amount from Members Pay.
Code: This is the code that appears on Payslip (Maximum of 10 Characters recommended).
Description: Description field to define the allowance in addition to the Code.
Amount Type: Choice between $ or % depending on the type of Addition/Deduction.
Amount or Percentage: Field to define a set amount or percentage for automated calculations. Please note this is a default figure and can always be adjusted before applying to a Members pay.
Please note that per payrun a member can only have a max of $9999.99 - if you need to do an addition or deduction over that amount it will need to be completed over multi payrolls
Status: The status will control if the Allowance will be visible to users. Please note you are not able to delete an entry once created if an Addition/Deduction is no longer in use you can update the status to Inactive.
Once Off: If this box is ticked it will show the Addition/Deduction default setting to be a once-off. However, can always be adjusted if you need it to apply on multiple occasions.
Superannuation Payable: If ticked it will include this Addition/Deduction for superannuation calculations.
PAYG Exempted: If ticked it will exclude this Addition/Deduction in the Members Tax liability calculations.
Include in Payment Summary: If ticked it will include the Addition/Deduction to show in the end-of-year submissions to ATO.
Include in Payment summary - reportable employer superannuation contributions: This option is only available for Deductions. If ticked it will separate the deduction as an employer superannuation contribution.
Appear separately on group certificates: If ticked this will show the Addition/Deductions separately on the end-of-year submissions to ATO.
Once you have entered your correct settings select the Add
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This should help set up the deduction for loan repayment. If you have any more questions or need further assistance, feel free to ask!