Page Comparison - Pay an extra pay (v.12 vs v.13) - Ace Payroll

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Extra Pays (or extra emoluments) are lump sum payments made to an employee and include bonuses, commissions, backpay, retiring or redundancy payments.

The IRD specifies a very complicated formula for the taxing of these lump sum payments. Ace Payroll automates the tax calculation according to this formula.

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title	To pay an extra pay

From the front screen click Calculate Pays and select an employee, then click Options > Extra Pays.

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Select the type of extra pay then click Next.

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Enter the amount of the extra payment, select whether the payment should be included in the employee's gross earnings for the calculation of Holiday Pay rates, then click Next.
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The Confirm Tax Calculation window opens, and the correct rate is automatically ticked. If you need to change this rate, select a rate.

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Click Next.
Select Gross Amount or Nett Payment, then click Next.

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Click Confirm, and you are done.
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