Components | Income Base Formulas

Components | Income Base Formulas

Overview

Any pre-defined formula containing the words: Comp Income Base, requires an income base formula to be specified for the component to calculate. This article explores how to define an income base that is applied in the pre-defined formula: Comp Income Base.

Edition 

This feature is available on all PaySpace editions
 Navigate > Configuration > Payroll > Payroll Config > Payroll Components

Details

The system has a wide selection of pre-defined formulas that require an income base to be defined.

An extract of the Payroll Components Screen
  
When creating or editing a component, select the "click here to edit company income base" link to open the "Define The Income" window.

  

The "Define The Income" window will display as follows when an income base has not been defined.

  

 
Once the lines have been created,  define each line in the formula.
  

 

Important Comments

  1. When selecting % of Income Source in conjunction with a Source Type that does not refer to an amount e.g. Employment Date, specify the percentage as 100.
  2. A component that includes an income base in the pre-defined formula can only be used once. You can add another occurrence of the component with the same income base and specify a different payslip name. However, the income base cannot be changed without affecting the original component.

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