How do I enter a private pension that accumulates?

If your pension is based on fixed salary earners who, for example, do not get the number of days-worked entered each month then you will need to use the Terminal-Benefit option and use this as a Pension field that accumulates. This will work in much the same way as Gratuity where you can specify a percentage of basic pay, eg 10 percent for Pension. Note however that the field will be called Terminal Benefit on all reports etc but it will work as a record of a private pension that accumulates. In this case then do not use the below example for a Pension as a custom-extra based on days worked and simply use the Terminal Benefit field for your pension. All accumulated values for Terminal Benefit will be the accurate accumulation of the Private Pension. The help below is for setting up pension based on days worked and is not to be used when employees are not paid on daily rate by the number of days worked each month. You can add a customised addition called, for example, "Pension" as an "Extra Based on Days" Type of extra. Go to the settings page. Choose Edit-Company-Extras. Click on "add an Extra"(at the bottom). Give it a name eg "Pension". Specify it as an "Addition" in the "Method" field. Specify "Based on Days" in the "Type" field. Click on the "Val times by Days" to edit the default Value. eg this is the Value that is multiplied by the number of Standard (normal) days. If the daily rate is for example K50, and your pension is 10 percent then the Pension-Daily Rate needs to be K5. Note for this to work, the pension needs to have normal days entered each month on the payment capture. It will be good to make this extra apply only on a Department level and NOT Company-Wide. So do NOT tick the checkbox "Apply-to-all" in the Company unless everyone gets the private pension. Note: This particular Customized extra will NOT appear on the the second input page for each employee payment capture as "no input" is required. Note: This value will be accumulated from month to month in the current calendar year and will NOT be included in the NET pay. At the end of the accumulated period you need to actually make an extra payment to the employee for the accumulated amount. Note the Accumulated Amount will still reflect on the payslip but will be automatically cleared each January so as to make room for the next year to start accumulating again. It is helpful to go to the "More-Reports" page and click on the "Extras-Accumulative" report to print out the summary of each employee's pension accumulation into excel. On this report, remember to click on the "Select Customised Extra" drop down search box on the top right and choose the "Pension" extra before you export to Excel so that you produce the Pension Report.