How do I create payroll components on company level, so that they are available for selection on employee payslips?

How do I create payroll components on company level, so that they are available for selection on employee payslips?

This feature is available on all PaySpace editions

The Payroll Components screen stores a library of payslip actions a company requires on employee level. When the company is created, a standard set of components will automatically reflect, including legislative components. You are able to make the necessary changes based on the company’s requirements.

Important! Components are created per frequency.

      Navigate > Configuration > Payroll > Payroll Config > Payroll Components

      

Step 1: Search for and select the desired component from the library of available components.
 The search can be refined by sorting the information when selecting any of the column headings i.e. Component Details, Payslip Action or Code.


      

      

Step 2:  Capture the relevant component information (e.g. payslip name, income bases and/or other extra options) and select "Save". The component will be added to your frequency profile and can be viewed under the relevant payslip action. 

      

Note! An income base is a calculation that stipulates how the particular component will calculate. These components are usually used for purposes of components that have a particular calculation based on your needs as a client.

    • Related Articles

    • 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: ...

    • How do I define an income base formula on a component?

      This feature is available on all PaySpace editions When adding a new component with an income base formula (defined income), the calculation can refer to various sources in the payroll for example, a specific component, the employee’s hourly rate or ...

    • How do I override an Income Base for duplicate Components with different calculations?

      This feature is available on all PaySpace editions The "override formula" link allows for multiple instances of the same base component with each component following a specific income base setup. If the income base is edited using the "income base ...

    • How do I resolve the run error: "Income base required for component"?

      This feature is available on all PaySpace editions The run error "Income base required for component" will display when the income base for the referenced component has not been configured. Navigate > Config > Payroll > Payroll Config > Payroll ...

    • How do I remove an income base that has been setup for a component?

      This feature is available on all PaySpace editions When adding a new component with an income base formula (defined income), the calculation can refer to various sources in the payroll for example, a specific component, the employee’s hourly rate or ...