Fringe benefits are non-cash, taxable benefits that you grant to an employee due to their employment.
You capture taxable fringe benefits on the Fringe Benefits (Perks) tab of the Payslip Screen when processing payroll. The system adds these values to taxable earnings during tax calculations.
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Open your payroll company from the Company Listing screen.
From the Main Menu, select Payroll, then Payslip Screen.
Select the employee from the list, then click Continue.
Select Fringe Benefit (Perks) tab.
TIP:
You can open the Perks Tax screen from any employee screen using the routing code PT.
The system allows you to capture non-taxable benefit amounts for the current period. Enter the number of pay periods to repeat the amount in the Times column.
In the VAT column, capture the calculated tax amount if required. The system doesn't automatically calculate VAT.
The Year to date values update when you start a new pay period.
The system calculates certain amounts automatically on the Fringe Benefit screen based on your company setup.
These lines appear greyed out and don’t allow manual entry:
Use if Motor Vehicle - Complete the Company Car screen to calculate the taxable value
Retirement Annuity - Private benefit that requires you to complete a sub-screen with a negative amount. This reduces the taxable income
The Medical Aid Taxable CC - The system calculate the value based on the values of the Medical Aid History screen
The Pension, Provident and Retirement Annuity Funds - The system calculate the value based on the type of fund of the employee
To return to the Main Menu, click Close to save changes, then Close again.