Entering the FBT amount on the Payment Summary in Reckon One

Legacy KB ID: 5445

Question

How do I enter the grossed up Fringe Benefit amount onto an employee’s payment summary?

Answer

Add a Year to Date Adjustment for the Fringe Benefit amount. 


The Issue

The Fringe Benefit is not an amount that is paid to the employee; it is the value of non-cash benefits provided to the employee.  The grossed up amount – the amount of gross pay required at the maximum PAYGW rate to produce the value of the fringe benefit – will be calculated by the accountant.   


To enter the Fringe Benefit amount in Reckon One:

1.    Settings > Payroll settings > YTD Setup > Payment summaries;

2.       Click on Add Payment Summary Balance

3.       Click on Add new row and select the Employee;

4.       Select the type: INB;

5.       Select the category: Reportable fringe benefit amount;

6.       Enter the grossed-up amount you have been given by the accountant;

7.       Click Save and Close when complete. 



Need more help?

Ask the Reckon Community at: https://community.reckon.com/categories/reckonone

Or

Log a Support Ticket: https://www.reckon.com/au/support/


How did we do?

Super is not calculating

Error - Tax code cant be entered for non-taxable items

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