Salary Sacrifice (Bespoke Payslip)
Payment Code Maintenance
Create a new Payroll Code with the following settings:
1. General tab
|Description||=||Salary Sacrifice||–||User defined|
|Type of Code||=||Value||–|
|Payslip Description||=||Salary Sacrifice||–||User defined|
|Input Prompt||=||Salary Sacrifice||–||User defined|
2. Controls tab
|Update Nominal||=||Ticked||–||User defined|
3. Calculation tab
4. Gen tab
If you have ticked the General Ledger box in the Controls tab, you will need to set up the details in this screen.
Then store the Payroll Code.
5. HR Record > Payroll Details > Fixed Pay/Ded
Set up a fixed payment entry with the following details:
|Code||=||SAC (as defined above)|
|Value||=||Monthly amount to sacrifice|
|Start period||=||First period for deduction|
|End period||=||Last period for deduction|
|Pensionable||=||Should be ticked|
As set up, you would now get entries on the payslip for the employee’s salary and the salary sacrifice.
It may be that you would want to show just the one entry being the employee’s salary after the sacrifice has been subtracted.
To do this, we would need to know the code you are going to use for the sacrifice in order to put the code into your payslip print.
7. The effect
If a Payroll Code is set up as defined above, then the value of the sacrifice will be deducted from other payments before tax, NI and pensions are calculated.