To set up a novated lease, create a Deduction pay element.
Setups, Payroll, Deduction, Maintain.
Give it a meaningful code and description.
Usually, you would set the Type field as Value.
Set the Tax Status as Before Tax (subtracted from the taxable pay prior to tax being calculated).
Set Part of OTE as Yes, so the deduction value is subtracted from the total Ordinary Time Earnings, and Super is not calculated.
Set the Tax Certificate Code to 1 - Include in Tax Certificate Totals.
Tick 'Show rate on pay advice and Show YTD on pay advice as required.
If you would like to report on the bsb and account where it is coming from, tick Use Employee Other Accounts.
The deduction can also be assigned against the Employee Other Accounts. For reporting purposes only.
Payroll, Reports, Employee Details/Labels, Super/Other Account Details.
Alternatively, if there is a specific requirement for use of this information a custom report can be created to the specifications provided. example BSB and account number Fee applies.
