Previous page

Next page

Add Related ETP

In this example, Wendy Buller was terminated on 05/07/2015 and she received a redundancy payment of $1,000. Her full redundancy payment was $2,000, but for tax reasons she wants to receive $1,000 in 2016-2017.

This topic shows how to add Wendy Buller's "R. Related" Employee Terminations record for her future redundancy payment of $1,000 in 2016-2017.

Important: You cannot process this transaction until 2016-2017 because the payment date is 20/07/2016.

  1. On Wendy Buller's ETP tab, open her AD. Adjustment Employee Terminations record (1090 Golden Handshake).
  2. Switch to Edit mode.
  3. Right-click the record to see the menu, and click Add Related Payment.

    Note: You could also wait until 2016-2017 to add the related record.

    Exolvo automatically creates a new Employee Terminations record and populates most fields with values from Wendy's adjustment record.

    Exolvo uses the following read-only values:

    Field

    Value

    Employee termination type

    RE. Related

    Status

    UNCONFIRMED

    Termination related to

    1090 Golden Handshake

  4. Enter the following values on the Details tab:

    Field

    Values

    Description

    1090 Second Redundancy Payment

    Date of payment

    20/07/2016

    Wendy Buller-ReleatedDetails

  5. Enter the following amount on the Employment Termination Payments tab:

    Field

    Amount

    Redundancy payment

    1000.00

    Note: When you added this related payment, the Qualify up to tax-free up to limit and Excluded/Non-excluded payment settings were copied from Wendy's adjustment record.

  6. Save and confirm Wendy's related Employee Terminations record.

    Exolvo calculates ETP components and tax to be withheld.

  7. Open a manual pay for the appropriate pay period.

    Note: You can also add related ETPs in a standard pay, but you have to ensure that the employee does not receive any extra transactions through payroll rules when you process the pay.

  8. Customise Transaction View so you can view terminated employees. See Minimising Incorrect Payments for Terminated Employees.
  9. Start to add Wendy Buller's transactions.
  10. When the warning message appears, click Yes to continue.
  11. Add Wendy Buller's transactions:

    Pay Header with Days worked this period = 0.0000

    504 - Post-termination payments (accept the default values). See Minimising Incorrect Payments for Terminated Employees.

  12. Process the manual pay.
  13. Close the manual pay.

    When you close the pay, Exolvo updates the related Employee Terminations record with the manual pay sequence number.

  14. Run payslips and make payments.
  15. Generate a PGPRTAXA092A: ETP Payment Summary (self print) v5.2 report, and send it to the employee.

    Note: If the whole payment is tax-free, then you do not have to generate this report. If the payment is a "Death to Trustee" ETP, send the report to the trustee of the deceased estate.

  16. At tax year-end, generate a PGPRTAXA093A - PAYG Withholding Payment Summary Annual Report v11 that includes the adjusted details of the employee’s related termination payment.

Previous page

Next page

Topic: 30393