When should a Year-to-Date (YTD) take-on be processed?

When should a Year-to-Date (YTD) take-on be processed?

Alert
This feature is available on all PaySpace editions

A Year-to-Date (YTD) take-on is typically processed when transitioning from one system to another during a tax year. In South Africa, this is crucial for ensuring compliance with the South African Revenue Service (SARS) regulations, particularly for tax certificate reporting.

For example, company A switches payroll systems on 1 July (mid-year). Employee John Doe's payroll data from January to June (YTD figures) needs to be added to the new system to ensure accurate calculations for the remainder of the tax year.

Info
Important
  1. Remember to add employees who were terminated during the tax year as IRP5s are required to be generated for these employees.
  2. The employee’s Employment Date on the Employee Tax Profile Screen is a critical field for the tax calculation to function correctly.

    • Related Articles

    • Payroll Processing | The YTD Take On Screen

      Overview Where a new company is registered on the system during the tax year, you have the option to process year-to-date figures on an employee’s YTD Take On Screen. If this is not done before the first Open Run is processed, you will have to ...

    • How do I process Year to Date Take On figures on employee level?

      This feature is available on all PaySpace editions. Year To Date figures can be processed on each individual employee record or via the Bulk Actions screen. Navigate > Employee > Payroll Processing > Year To Date Figures Expand a payslip action to ...

    • Can lumpsum directives be processed through a Year to Date Take On?

      This applies to all PaySpace editions. No. Lumpsum directives can not be processed through a Year to date Take on run on an employee's Take on Year To Date Figures screen. A Lumpsum directive needs to be processed on the Edit Payslip screen. Navigate ...

    • How do I process a Year to Date Take On via the Bulk Actions screen?

      This feature is available on all PaySpace editions. Year To Date figures can be processed on each individual's employee record or via the Bulk Actions screen. Navigate > Bulk Actions Download an empty template and complete the template, the template ...

    • When should a Take On run be created?

      This feature is available on all PaySpace editions. A Take On run is automatically created when a new company is created to process (take on) Year To Date figures before the payroll goes live to ensure that the tax calculation will be based on the ...