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 16 on the checklist.
All Equity reports print in relation to the Equity Plan for the Company. This entails that in order for payroll system to be able to print the Equity reports, the system will need an Equity Plan to print in relation too. It is therefore advisable to define a “zero” plan.
The actual Equity plan can be entered on the payroll system when all the necessary steps have been completed and the plan is finalised.
To access the Equity Numerical Goal Plan, from the Main Menu:
Click on Equity
Click on Numerical Goal Plans
How to setup a Zero Goal Plan
- Define the Plan number, plan description, plan date, companies to be included and Industry.
- Do not capture any Numerical Goal or Target.
- This is necessary to do in order to print the current workforce profile
Enter the Plan Date and Plan Description, press tab and select the companies that should be included in the Workforce Profile. Double click on each company you would like to include into your plan, the user will be required to enter their password in order to include a company.
For a Zero Plan the information under the Numerical Goals are left blank.
|Plan Number||This is a unique, 4 digit number you assign to the plan. When the standard Equity Reports are printed, you will be prompted to enter this plan number.|
|Plan Date||Only the Month and Year have to be entered here. This will be the date by which the company wants to achieve the Numerical Goal set in the Equity Plan. A company is not allowed to plan more than 5 years ahead for Equity purposes.|
|Description||This must be a meaningful description that will enable you to recognise the plan at a later stage. For example, Company 84 - All Employees, or, Zero Plan - Company 84.|
|Company||Here you select the companies to be included in this Equity Plan. Every time a company is chosen from the list provided, the Payroll System will ask for the password to enable you to include that specific company. |
A company can be included in more than one plan!
|Workplace||It is not mandatory to enter a Workplace and this field will only be used if the company reports separately for every Workplace defined. A separate plan for each Workplace must then be defined.|
|Province||It is not mandatory to enter a Province and this field will only be used if the company reports separately for every Province. A list with the 9 Provinces of South Africa will be displayed. If the company does not report per Province, select “Not Used”. If the company reports per Province a separate plan for each Province must be defined.|
This is a mandatory field and the Industry in which the company operates must be entered here.
Refer to those workers who are engaged to work for more than 3 months. The number of permanent employees must be entered according to their Occupational Levels, whether they are male or female, as well as whether they are African, Coloured, Indian or White. Foreign Nationals must be entered in separate columns and split according to male or female. The total for every Occupational Level will be automatically calculated as the number of employees is entered.
Temporary employees are defined as employees who have been employed at your company for 3 months or less. The number of temporary employees must also be split according to male or female, as well as whether they are African, Coloured, Indian or White. Foreign Nationals must be entered in separate columns and split according to male or female. The grand total line at the bottom of the screen will calculate automatically and will display the total number of employees entered for each column.
Employees who gained South African citizenship after 27 April 1994 due to naturalisation, and who were not excluded from gaining citizenship prior to this date due to apartheid, are deemed to be Foreign National citizens and must be reported as such.
Anybody with a South African permanent residence permit qualifies to apply for South African citizenship through naturalisation after five years of being a permanent resident.
Anybody married to a South African citizen qualifies for naturalisation after receiving the permanent residence permit issued at the time of the marriage subject to the conditions of the permit.
A child under 18 who has a permanent residence permit qualifies for naturalisation immediately after the permit is issued.