Basic Company Information screen

The Basic Company Information screen includes information such as Company Name, Address, Company and Tax Registration Numbers, Payment Cycle, Bonus percentage, UIF percentages and Earnings Limit, Skills Development Levy information and Employment Tax Incentive company setup information.

How to access the Basic Company Information screen:

• From the Main Menu, select Company, then Basic Company Information

There are five tabs on the Basic Company Information screen:

• Basic Company Information
• Address Details
• Contact Information
• Additional Information
• Employment Tax Incentive (South Africa only)

Basic Company Information

• Company Name
  • The registered name of the company is entered here. This field is mandatory. The Company Name (for Reports) will print on all standard Reports as well as on the IRP5’s/IT3(a)’s. The shorter Company Name (for Screens) is displayed on the VIP screens only.
• Company Status
  • Three options are available to choose from:
    • Live,
    • Dormant, and
    • History
  • Review article 'How to change the company status' for more information on each status.
• Company Registration Number
  • The Company Registration Number is entered here. It is used on various Statutory Reports.
• Payment Cycle
  • The Payment Cycle specifies whether employees are to be paid weekly, monthly, bi-weekly or Other payment cycle.
  • If you have employees who have different Payment Cycles, a separate company must be created for each Payment Cycle that you use.
  • This field should not be changed during the Tax Year. 
  • The number of Pay Periods which you have chosen and the number of days per year will be displayed.
• Tax Country
  • The Tax Country indicates the tax tables to be used for the company
  • If you have employees registered in different Tax Countries, you will have to set up a separate company for each Tax Country
  • You will only be able to select a Country for which you are licenced
• Tax Registration Number
  • The Company's Tax Registration Number is entered here and will be printed on the IRP5's/IT3(a)'s. Do not enter slashes
  • This field is mandatory for R.S.A. companies
• Enjoys Diplomatic Indemnity
  • If a company enjoys Diplomatic Indemnity, for example Embassies, it is important to (tick) this box
• Last Allocated IRP5 Number
  • For R.S.A. companies the last IRP5 Number that was issued to an employee in the Previous Tax Year will be displayed here
  • If you have not done a live IRP5 Run, the last 5 characters will be ‘0’
  • The first three characters represent the Company Number
• Annual Bonus
  • This option is used if VIP’s Annual Bonus facility must calculate bonuses for your employees using the Basic Salary on the employee’s Increase screen
  • The Annual Bonus calculate based on:
    • the bonus percentage specified here and
    • the Bonus month specified on each employee’s Basic Employee Information screen (IS)
• Unemployment Insurance Fund (UIF)
  • For R.S.A. companies UIF is calculated automatically according to the percentages and Earnings Limit specified here.
  • UIF contributions are based on Remuneration as defined in the Fourth Schedule to the Income Tax Act 
  • The Contribution of 2% of Remuneration is payable in equal shares (that is, 1% each by the employee and employer)
  • The company’s UIF Registration Number must be entered on the Basic Company Information screen 

CAUTION: When the UIF Earnings Limit or percentages change, it is your responsibility to update them on this screen in the applicable period.

• Skills Development Levy (SDL)
  • This is a compulsory levy scheme for funding education and training as envisaged in the Skills Development Act, 1998
  • The SDL Number, Sector Education and Training Authority (SETA) name and percentage must be entered on the Basic Company Information screen

Address Details tab

Company Address

• The Company Reporting and Physical Address entered here will print on the Employee Tax Certificates, for example, the IRP5's/IT3(a)'s in South Africa
• Complete all Address fields with a blue background

Contact Information

• Complete the UIF and IRP5 contact details
• These details export to the UIF submit file and IRP5 export file respectively

Employment Tax Incentive

• If your company claims Employment Tax Incentive (ETI), complete the ETI setup screen
• Contact your Business Partner consultant for help with the setup