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How do I enter the NIS Allowance using the Tax Allowance Breakdown?

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The Tax Allowance Breakdown allows the entry of individual tax allowances rather than a summed figure.  

This makes it easier to view the specific items that make up an employee's total Allowable Deductions.

Enter a TA1...cycle change

POWERpay>>Process Payroll>>Cycle Changes

If the Auto-Calculate NIS Impact option is being used then the system will automatically calculate the NIS Allowance amount so that there is NO NEED TO ENTER  the above cycle change!

At present, the NIS Allowance in Trinidad and Tobago is calculated as 70% of an employee's annual contribution.

How do I use the Tax Allowance Breakdown?

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Payroll

Introduction and Key Concepts 3
Organisation Setup 9
Set Up Payroll Codes 12
Statutory Deductions 14
Tax Allowance Breakdown 9
Pay Cycles 3
Business Rules 14
Positions 2
Employee Data 5
Payroll Processing: Cycle Changes 15
Payroll Processing: Employee Transactions 12
Process Payroll - Fixed Data Imports and Smart Entries 2
Payroll Run 5
Process Payroll - Out of Cycle 3
Reports 7
Statutory Reports 5
Payroll Adjustments 1
Year End Adjustments 1
Year End Close 7
Payroll FAQs 5

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