Fringe Benefits Year End

Processing ‣ Period End ‣ Fringe Benefits Year End

This process is available only where the Fringe Benefit Option has been licenced. It provides for you to enter the amount that has been spent on an employee’s behalf (usually by a third party) as a fringe benefit. This should be done after the end of the fringe benefit year [March 31st]. The amount entered will be recorded in the employee record as a Type 2 fringe benefit [A fringe benefit for which GST has not been claimed by the employer].

The process will display the total amount sacrificed by the employee during the current Fringe Benefit Year plus any amount sacrificed in Previous Fringe Benefit Years that was not used as a Fringe Benefit. The actual amount used as Fringe Benefit may be entered for each employee and this will become the basis for the entry on the employee’s Payment Summary.

Any sacrificed amount not used as Fringe Benefit will be either carried forward to the next Fringe Benefit Year or paid to the employee depending on the setting of the Carry Forward flag on the Fringe Benefits Defaults screen at Setup ‣ Database Setup ‣ Fringe Benefits.

Warning

PayCare will Gross Up this amount automatically. DO NOT ENTER GROSSED UP VALUES.