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Salary Sacrifice - Payroll Setup (if using Cashbook SuperStream)

Summary

How do I setup Salary Sacrifice in Payroll?

Detailed Description

Step 1. Make sure your payroll accounts are setup correctly in Chart:

Step 2. Add a Salary Sacrifice account in Chart:

  • Click on the Chart toolbar icon.
  • Click on Add button.
  • Account Code e.g. 173.04
  • Tick the Sub-Account of box.
  • Sub-Account e.g. 173
  • Description e.g. Wages - Salary Sacrifice
  • Account Type Operating Expense
  • GST Category 10. Non-reportable Payments
  • Click OK button to save.

 

Step 3: Setup 3 salary sacrifice pay rates:

  • Click on the Payroll icon on toolbar button.
  • Click on the Setup Lists tab.
  • Click on Pay Rates tab.
  • Click on the Add button.

 

  • Fill out the details:
    • Name: Salary Sacrifice
    • Per: Pay
    • Hrs/Units: 1
    • Rate: leave blank 
    • In the Optional Cashbook Account box, click on Allocate to radio dial to select.
    • Select Account 173.04 Wages - Salary Sacrifice.
  • Click on the OK button.

 

  • Still in Payroll > Setup menu options:
  • Click on the Add button.
  • Fill out the details:
    • Name: Salary Sacrifice Deduction
    • Per: Pay
    • Hrs/Units: -1.00
    • Rate: leave blank 
    • Tick the Taxable check box.
    • In the Optional Cashbook Account box, click on Allocate to radio dial to select.
    • Select Account 173.01 Wages - Permanent.
    Click on the OK button.

 

  • Still in Payroll Setup menu options:
  • Click on the Add button.
  • Fill out the details:
    • Name: Salary Sacrifice Withholding
    • Per: Pay
    • Hrs/Units: -1.00
    • Rate: leave blank 
    • Tick the Reportable Employer Super Contributions check box.
    • In the Optional Cashbook Account box, click on Allocate to radio dial to select.
    • Select Account SUPW Superannuation Withholding 
  • Click on the OK button.
  • Click on the Close button. 

 

Step 4: To set up Salary Sacrifice as a new Wages/Salary Pay Types for an Employee:

  • Click on the Payroll toolbar icon.
  • Click on Employees tab.
  • Click on employee to highlight.
  • Click on the Select Employee button.

 

  • Click on Default Pay Rates tab.
  • Click on the Wages/Salary tab.
  • Click on the Add button.

 

  • In the Add a new Wages/Salary Item window, fill in the following details:
    • Name: select Salary Sacrifice from the drop down list.
    • Per: Pay (default setup)
    • Hrs/Units: 1 (default setup, as we are opting for a nominated amount per pay.)
    • Rate: e.g. 500 
  • Click OK button to save.

 

  • In the Add a new Wages/Salary Item window, fill in the following details:
    • Name: select Salary Sacrifice Deduction from the drop down list.
    • Per: Pay (default setup)
    • Hrs/Units: -1 (default setup, as we are opting for a nominated amount per pay.)
    • Rate: e.g. 500 
  • Click OK button to save.

 

  • In the Add a new Wages/Salary Item window, fill in the following details:
    • Name: select Salary Sacrifice Withholding from the drop down list.
    • Per: Pay (default setup)
    • Hrs/Units: e.g. -1 (default setup, as we are opting for a nominated amount per pay.)
    • Rate: e.g. 500 
  • Click OK button to save.

 

  • Default Pay Rates for Wages/Salary screen should now look like this:

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