MIBCO has two company contributions that are linked to Tax Total 3833, transaction I111 and I112. Therefore they have two fringe benefit codes that match each of the contribution codes, I300 (matches I111) and I301 (matches I112).
Ensure that you are in February (for Year End) or August (for bi-annuals) in order to correct this exception, if you are not, please restore back to the applicable period.
- Navigate to Process, Payslip.
- On the default tab, enter the code I300 (if you have processed the code I111) and/or I301.
- Do a Payroll Run for this employee to finalise the calculation.
The code I300 does not auto calculate. You will have to do a corrective transaction:
- In the current period, you will navigate to the Process, Payslip screen of the employee in question.
- Click on the contributions tab and check the YTD for the code I111
- Click on the benefits tab and check the YTD for the code I300
- Calculate the difference between the two amounts
- Click the override box for code I300 on the benefits tab
- Add the difference that you calculated in step 3 to the amount already displayed on I300. After this the YTD totals of code I111 and I300 should be in balance.
NOTE: Adding in the code I301 and/or I300 can have an effect on your PAYE, UIF & SDL – so please file for a correction if you have already done your monthly statutory payments and there are changes.
If your employee was terminated and your code I300 and/or I301 was either not processed, or don’t match the YTD value its company contribution, you will have 3 options to resolve this:
- You can restore back to the last period this employee was still active, add in code R700. You will have to recapture all the information for the periods between the period you restored to and the period that you were in before restoring.
- A chargeable datafix can be done, please email [email protected] to arrange this.
- You can exclude this employee from your electronic file, and create a manual certificate for them on [email protected], however, we at Sage cannot assist you in creating manual certificates in [email protected]