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Cathy15's avatar
Cathy15
Experienced Cover User
3 years ago

Salary Sacrifice

We have available for our employees of our Not-For-Profit organisation salary sacrifice for their mortgages. The processing of this through payroll has all been set up and works great. The downfall of this system is how do you then pay these sacrificed amounts? Due to this issue, we are unable to use an aba file for payroll as it doesn't give us the ability to add these amount in anywhere.

 

I have read a post on how to do this, but only caters for one payment for the deduction. I have numerous payments to different accounts.

 

Does anyone have any suggestions on a more efficient way of making the physical payroll and sacrificed payments?

 

Thanking you in advance.

 

  • SamaraM's avatar
    SamaraM
    Former Staff

    Hi Cathy15 


    Sorry to see that no one has replied to you yet.

     

    Generally, for Salary Sacrifice deductions, you would set up a Pay Item and a Liability account for it to be assigned to on each pay run. Then when you are ready to pay it you can do that under Payroll > Pay Liabilities > Deductions.

     

    See our Help Article for more information on that topic: Salary packaging

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

    • Cathy15's avatar
      Cathy15
      Experienced Cover User

      Thanks Samara

       

      I know how to record the deduction, it is the paying of it. I have a dozen employees who salary sacrifice for their mortgages, so each goes to a different bank account.

       

      Any further suggestions?

       

      Cathy

       

      • SamaraM's avatar
        SamaraM
        Former Staff

        Hi Cathy15 

         

        Sorry if I wasn't clear in my response. In Pay Liabilities, under the Pay from Account field, if this payment is being made electronically, select the option Electronic Payment.

         

        After recording you'll find an entry for the payment in the Prepare Electronic Payments window. 

         

        Click here to learn more about electronic payments


        If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

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