Cycle Changes - How do I use the Tax Allowance Breakdown?
Instead of entering one summed figure for Tax Allowances, you can enter the individual items and amounts that contribute to the total Tax Allowances, effectively entering the breakdown of what constitutes the Tax Allowances amount.
To do this, the Tax Allowance Breakdown is used.
POWERpay>>Maintenance>>Statutory Deductions>>Use Tax Allowance Breakdown:
Auto Calculate NIS Impact: check this box also if you want the payroll to automatically calculate the National Insurance allowance (Trinidad and Tobago).
Enter each item and amount so that the employee can see the items that constitute his/her Tax Allowances rather than one summed figure.
In the event that a change needs to be made, simply change the particular item.
Auto-Calculate NIS Impact - if the Auto-Calculate NIS Impact option is being used, then there is no need to enter the ‘TA1 NIS Allowance’ cycle change entry as the system will automatically calculate the NIS Allowance.
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