How do I use the Tax Allowance Breakdown and Auto Calculate NIS Impact?
Instead of just one summed figure, it may be useful for the employee to have access to a composition of the tax allowances, that is, the individual items that contribute to the total Taxable Allowances.
In such a case, Tax Allowance Breakdown should be used.
The Auto Calculate NIS Impact works in conjunction with the Tax Allowance Breakdown and allows the payroll to automatically calculate employees' NIS allowances.
POWERpay>>Maintenance>>Statutory Deductions>>Use Tax Allowance Breakdown
POWERpay>>Maintenance>>Statutory Deductions>>Use Tax Allowance Breakdown
Checking the Auto-Calculate NIS Impact box allows the payroll to automatically calculate NIS Allowances! There's no need to enter a TA1...NIS ALLOWANCE cycle change entry if this box is checked!
Items TA1 to TA8 are applicable to Trinidad and Tobago. Items TA10 to TA13 apply to Colombia. However, you may use any item that is applicable to your country. Each item is shown as an individual How-To.
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