Payroll Processing | Recurring Payroll Components

Payroll Processing | Recurring Payroll Components

A Recurring component refers to a regularly appearing component in an employee's payroll that is a part of the employee's regular compensation package. These components are calculated and included in each pay period, and are an essential part of an employee's package.

The Recurring Payroll Components screen consists of all fixed financial information, which will pull through to the Edit Payslip screen every pay period.

      Navigate > Employee > Payroll Processing > Recurring Payroll Components

      
     

The types of components on the Recurring Payroll Components screen can be categorised in six payslip actions:


      Allowances: includes all earnings due to the employee.
            

      Deductions: refer to items that are subtracted from the allowance, resulting in the net pay as the difference.
            

      Company Contributions: are contributions which the company provides to the employee.
            

      Fringe Benefits: are taxable perks that an employee can receive for which they do not earn cash.
            

      Personals: includes items that an employee pays in their personal capacity that qualify for a tax benefit during the tax year.
            

      Notes: store important totals by default (e.g. PAYE, Taxable, Regular Income, Total SDL, UIF, Tax, Travel/Company Car Taxable, UIF Income). It can also be used to calculate, store and/or display any information not visible in the other categories above e.g. Retirement Funding Income, Bonus Tax Spread and Medical Tax Credit.
            

Important! When components are added on company level, you can choose the In Package-indicator. This will enable you to indicate whether a component is part of the employee’s package as specified on the Pay Rate Details screen. All components that are part of the package, are indicated with an asterisk.