Wagemaster has a lump sum payment wizard in Wages, Timesheet which allows for the payment of a lump sum item with tax calculated at marginal rates. The lump-sum wizard is useful for bonus payments, commissions and back pays.
Using the Lump Sum Wizard in Wagemaster
The lump-sum payment wizard is available in Wages > Timesheet > Next to get to the Adjustment Screen. The adjustment screen allows for the payment of a lump sum item with tax calculated at marginal rates over a specified time period. The lump-sum wizard is useful for bonus payments, commissions and back pays.
Go to Wages > Choose the Employee > Click on the time sheet > Next > Select Lump Sum > Click Add.
Next> Select a description of the payment form the list or type your own description> Next
Enter the lump sum value to be paid. If superannuation guarantee is to be calculated on top tick ‘Include in Superannuation Calculation’.
Click Next. Tax can be selected to calculate marginally based on a number of pay periods or a number of payslips. Select the date range. Select either Use PPE Count between select dates or Use employee payslip count between selected dates. Click Next.
A Summary of the tax calculation will be shown. Click Next.
(Summary Details can be printed. These details will be saved in the employee file under>Employment>Notes)
A short summary of the payment will be shown. Click Finish to complete the wizard and return to processing the payslip.
A Departmental > Lump Sum Payment report has been created and can be located in Reports > Department > Lump Sum Payments. These items will also appear in the allowance column of the Gross Payment Reconciliation report and Payroll Cross-Check reports.