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

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

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 the employee’s package, to name a few. Besides including source types, you can also advise an amount in the calculation.

      Navigate > Configuration > Payroll > Payroll Config > Payroll Components

Step 1:  Create or edit a component and select the "click here to edit company income base" link to open the "Define The Income" window.

      

Step 2: Specify the number of lines in the custom calculation and insert its elements accordingly before selecting the "add income base" button. The window will close and save the component again.

      

    • Related Articles

    • Payroll Components | Editing a Component

      Overview Payroll Components may be edited or reconfigured by selecting the "Edit" hyperlink on the right hand side of the applicable component, which will open a screen with numerous options. Edition This feature is available on all PaySpace ...
    • The Payroll Components screen

      Overview The Company Payroll Components screen stores a library of payslip actions a company requires on employee level. This includes automatic components (that will automatically populate/calculate on the Edit Payslip screen every period), and ...
    • How do I create payroll components on company level, so that they are available for selection on employee payslips?

      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 ...
    • How do I configure the Company Sick Pay component?

      The Company Sick Pay component needs to be configured on company level before it can be added to employee profiles. Step 1: Search for and create the Company Sick Pay component. Navigate > Configuration > Payroll > Payroll Config > Payroll Components ...
    • How do I configure the Company Paternity Pay component?

      The Company Paternity Pay component needs to be configured on company level before it can be added to employee profiles. Step 1: Search for and create the Company Paternity Pay component. Navigate > Configuration > Payroll > Payroll Config > Payroll ...