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Employment Equity: Equity Remuneration Control

Created on  | Last modified on  Highlight Matches

Summary

You need assistance with defining the Equity Remuneration Control on Sage200c VIP, Sage Classic, Sage Premier or Sage Business Cloud Payroll Professional

Description

This article forms part of the article where we discuss on how to implement the Equity Module. There is a checklist to guide you through the process and this is Step 11 on the checklist.

Resolution

The EEA4 splits remuneration into Fixed/Guaranteed and Variable. Each line must be assessed to determine into which category it falls and changed accordingly. You will need to work through the lines and assess each one by using the information from the EEA4 from as obtained from the Department of Labour website.

  • Select if the line should be included or not
  • Select if it is fixed/guaranteed or variable
  • Select if it must be annualised or not

From the main screen of the company go to Equity>Equity Remuneration Control. You need to select each field by clicking on the ration buttons to setup the various groups.

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Column Information
Include Double Click in the block to change between options 'Yes' and 'No'.
Remuneration Type This column defaults to ‘Fixed / Guaranteed’. If this line is ‘Variable’ remuneration, change it accordingly. Refer Refer to page 2 and 3 of the new EEA4 form for guidance
To be Annualised This column defaults to ‘Yes’.
‘No’ – If the values for the 12-month period must be used as is on the Equity Reports e.g. Annual Bonus which is already an annual value.
‘Yes’ - If the employee did not work for a full equity year (October to September), e.g. new employees, then the selected remuneration for the 12-month period will be annualised when printing the reports, according to the number of calendar days worked in the equity year.

 

NOTE: Determining which lines are Variable or Fixed/Guaranteed Remuneration is something that falls outside the scope of our Support Desk. Should you require assistance with this process we recommend you book a consultation to help you with your Equity Setup.

The print screens inserted in the articles might vary slightly from the system you are currenlty using. Sage 200c VIP, Sage Classic, Sage Premier and Sage Business Cloud Payroll Professional have many product similarities. If necessary product specific print screens will be used, alternatively, any system's print screens will be used where the product feature is the same for all products.