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Verify payroll and medical aid information

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Summary

How to confirm payroll definitions and medical aid codes in Sage 300 People.

Description

Before making any changes, updates to payroll definitions will affect historical tax certificates. Allocate all medical aid contributions and expenses to the correct IRP5 codes.

Resolution

  1. From the Navigation pane, expand Company Management.
  2. Click Payroll Definitions.
  3. Select the applicable option:
    • Deduction
    • Company Contribution
    • Fringe Benefit
  4. Ensure medical aid contributions and expenses match the correct IRP5 codes:
IRP5 Description
4474 Employer’s Medical Aid Contributions
4005 Medical Aid Contributions
4024 Medical Services Costs Deemed Paid for Immediate Family
3813 Cost related to Medical Services paid by Company
3810 Medical Aid Contributions paid on behalf of the employee fringe benefit
4493 Employer’s Medical Aid Contributions i.r.o. Retired Employees
4116 Medical Scheme Fees Tax Credits considered for PAYE purposes
4120 Extra Medical Expenses Tax Credits for employees 65 and older

 

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