FastTrack360 Version 12 Online Help
Pay Codes for Bonus/Commission Payments
- Max Ciereszko
Description
A new field labelled Bonus/Commission Payments has been added to the header of the Rates and Rules > Maintenance > Pay Code > Pay Code Entry screen to allow pay codes to flagged as being used for the payment of bonuses and commissions.
An example of the new field is highlighted in the example below.
The Bonus/Commission Payments field is available for pay codes with a type of Ordinary and Allowance only.
A field has been added to the Search section on the Rates and Rules > Maintenance > Pay Code screen to allow searching for existing pay codes based on whether or not the Bonus/Commission Payments field is ticked.
Benefits
This enhancement allows you to prepare the configuration of pay codes for Single Touch Payroll (STP) Phase 2 reporting. Under STP Phase 2 reporting, bonus and commission payments must be reported separately to other gross payments and therefore flagging pay codes as being used to pay bonus and commission payments will allow such payments to be reported correctly through STP Phase 2 reporting.
STP Phase 2 reporting capability will be added to FastTrack360 in a future release towards the end of 2022.
Configuration
The Bonus/Commission Payments field is set to the un-ticked (off ) state by default for all existing and new pay codes. The status of the field can be toggled on or off at any time, even if payments have already been made against the pay code.
The Bonus/Commission Payments option can be enabled for allowance pay codes. Where that is the case, under STP Phase 2 payments against such pay codes will be reported as a bonus/commission payment and not an allowance.
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Related pages
Classification-Public