Add Bonus Transaction

This topic shows how to add a $100 bonus transaction with a tax override for Alan Fletcher. The bonus allowance has Tax override = 'Yes" and Tax override type = "Bonus".

When you add the bonus transaction, you can enter tax override details to ensure that Alan is taxed at the correct rate for this irregular transaction.

1. Double-click Transaction View.

   The Pay Sequences form appears.

2. Click the checkbox for the manual pay.
3. Click OK.

   Transaction View appears for the manual pay.

   Note: This example uses a customised layout and a query that displays only weekly employees. See the Transaction View Customisation manual for more details.

4. Click Alan Fletcher's Code cell.
5. Press Insert.

   Because you are adding a transaction to a manual pay, the Pay Header form appears.

6. Check the following values:

   Field	Value	Details
   Days worked this period	0.0000	Default value. Payments in this manual pay sequence are not related to days worked.
   Profiled hours this period	25.00	Exolvo derived this default value from Alan's employee record.
   Employee status	PMPT (Part-Time)	Exolvo derived this default value from Alan's employee record.
   Pay Method	Direct Credit	Exolvo derived this default value from Alan's employee record.
   Cheque number	Enabled when Pay Method = "Q. Cheque".
   Normal gross method	LF. Last full pay	Default option based on the Default normal gross earnings calculation value in Company Settings.
   Last full pay period sequence	0	Leave this field blank. If the employee has marginal tax transactions, when you process the pay, Exolvo will automatically insert the pay sequence that was the employee's last full pay.
   Note: Alternatively, you can use the pick list to select the pay sequence that was the employee's last full pay.
   Normal gross amount	This field is disabled. If the employee has marginal tax transactions, when you process the pay, Exolvo will automatically enter the employee's normal gross amount based on their last full pay.
   Auto calculation	This read-only, Yes/No field shows whether the Normal gross amount was auto-calculated or set manually.

   

7. Click OK to return to Transaction View.

   In this example, Alan has permanent transactions so a Confirm message appears.

   

   You do not want to include Alan’s permanent transactions in this manual pay.

8. Click No.

   Another Confirm message appears.

   

   You do not want to include any permanent transactions in this manual pay.

9. Click Yes.

   The Select Allowance box appears.

10. Enter 210, which is the Performance Bonus allowance code in this example.

    

11. Click OK.

    The Performance Bonus | Details tab appears.

12. Enter the following values:

    Field	Value	Details
    Quantity	1.00	Default value.
    Cost Centre Code	(Blank)	Delete the default value.
    Important: You must remove the default Cost Centre Code otherwise you will model this cost centre to the other sales employee. When you process these transactions, Exolvo will add the correct Cost Centre Code for each employee.
    Rate Code	0	Default rate code for this allowance.
    Rate	100.0000	Bonus amount.
    Transaction start date	01/07/2013	Default value — start date of this pay sequence.
    Transaction end date	07/07/2013	Default value — end date of this pay sequence.

    

    Alan's bonus applies to the previous six months so you will add a taxation override period of 26 (weeks) to ensure that Alan is taxed at the correct rate.

13. Click the Tax overrides tab.
14. Enter the following value:

    Field	Value	Details
    Override amount	26.00	Alan's bonus will be taxed over 26 weeks.
    Note: The default value is 52.00 so the transaction would be taxed over a full year.

15. Press Page Down.

    

16. Click OK to return to Transaction View.
17. Press Ctrl+S to save your changes.

Topic: 39202