How do I enter a Gratuity or Terminal Benefit payment?
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Help Answer & Related Training |
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| Gratuity OR Terminal Benefit |
How do I enter a Gratuity or Terminal Benefit payment?
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How do I enter a Gratuity or Terminal Benefit payment?
On the main payroll capture screen for each employee there are two fields towards the bottom:
Gratuity Paid and
Terminal Benefit Paid.
Enter the respective payments here.
From year 2017, there is no tax on Gratuity.
Do I use Gratuity or Terminal Benefit?
It's just terminology. It works the same. I advise to use terminal benefit but only because it is a closer match in name to the "compulsory" payment people get at end of their contract or when they retire.
NB The accumulating Terminal Benefit will appear on the payslips each month and NOT Gratuity. Use Terminal Benefit if you are wanting to pay the "compulsory end of contract service amounts". On the "More Reports page" use the "Gratuity or Terminal Benefit Totals" Report to see current Accumulated Totals which may easily be exported to Excel.
Two months worth of payment per year: 16.7 percent
One months worth of payment per year: 8.3 percent
All payments attract NAPSA charge.
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