RFBT not showing on payment summaries

Janneia Searle

I think our RFBT is set up incorrectly because it's not appearing on the payment summaries. Can I correct this retroactively, or do I need to hand write the grossed up amount on the printed forms?

Acctd4

Hi Janneia

 

It’s important to get it correct in RAH as this is your source information for your accounting figures.

RFBs need to be added on to an employee’s pay in RA/RAH - so you will need to unlock a Pay & add this Payroll Item & its grossed-up value - within the applicable FBT year (Apr-Mar) in order to appear on their Payment Summary in the relevant Financial Year (Jul-Jun)

 

You just need to setup an Company Contribution-type Payroll Item & link it to the “Reportable Fringe Benefits” (or “Reportable Fringe Benefits (Tax Exempt)” if applicable) option from the dropdown on the Tax Tracking Type screen.  It should be ticked for Payroll Tax (in WA, not sure about other states) but not PAYGW & doesn’t need to be linked to any other Payroll Items on the final Inclusions screen.

 

Shaz Hughes Dip(Fin) ACQ NSW, MICB

Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)

Accounted 4 Bookkeeping Services

Ballajura, WA

0422 886 003

shazinoz2@bigpond.com

www.accounted4bs.com