Paycycle : Small Business Payroll Online : Tour : Setting Up : Payslip

PAYSLIP ITEMS

This section enables you to customise the items that will affect your employee's payslips and the type of categories you are prepared to pay for. We call this the picklist, which includes earnings (income), taxes, reimbursements and other deductions. Here is an overview of what is available under payslip items and how this can help your business.

EARNINGS RATES

This part of the payslip shows the income or allowance an employee may have. There are some default rates included here but we recommend you include only those relevant to your business and the terms suitable for it.

To modify any details, click on the rate you wish to change. Once you have done this, click SAVE.

Remember, you can change the name, the units on which that rate will be measured (hours, fixed amounts, etc.) and the rate per unit (how much you will pay for each unit).

Then select whether the earning is Allowance, Subject to Tax or Subject to Super.

If you don't include a rate (maybe all your employees do ordinary hours but at different rates), you will have to change this on your employee's template or go straight to their payslip whenscheduling a pay run. However, if you include the rate here, it will feed automatically into your payroll. It's up to you.

Finally, it is important you choose the expense account that will feed that rate. Remember that these have to be linked to your updated Chart of Accounts.

Once you are done, click SAVE.

To add a rate, click on Add Earnings Rate. To delete a rate, click on the rate and select Delete Earnings Rate.

DEDUCTION TYPES

Here you can see the different deductions that affect your payslip. There are a series of default deductions we have included but we definitively recommend you change them for more specific ones. For example, Other Pre Tax Deductions is way too broad.

To alter any details, click on the deduction you would like to change and modify these details. Modifications may include changing the name of the deduction type and whether your deduction reduces tax or super liability.

Once you are set, you need to select the Control Account. Remember that all deductions controls accounts need to be linked to your updated Chart of Accounts. Once you are done, click SAVE.

Again, if you wish to add a deduction, click on Add Deduction. Alternatively, to delete a deduction, click on the deduction you wish to erase and select Delete Deduction.

REIMBURSEMENT TYPES

There are some expenses that employees incur that need to be reimbursed by the company and this section takes care of that. Again, we have included default reimbursements. Change these so they suit your requirements. And remember to update the expense account associated with each reimbursement according to your Chart of Accounts.