Reportable Fringe Benefits (Opening/Adjustment) Explained

Moni Petcharat

Jun 15, 2023

668

🎯 The Opening/Adjustment Tab within the Reportable Fringe Benefits Accordion allows you to record Fringe Benefits which have been paid to the Payee for the relevant Financial Year.

The Financial Year Combo allows to select the relevant Financial Year.

Payment Date allows you to enter the relevant Payment Date for the Reportable Fringe Benefit Transaction.

Type allows you to select the relevant Reportable Fringe Benefit Type.

Taxable allows you to enter the Taxable value of the Reportable Fringe Benefit Transaction.

Factor allows you to select the relevant Factor for the Reportable Fringe Benefit Transaction.

Grossed Up displays a dynamic calculation of the Taxable Value multiplied by the selected Factor.

Reportable displayed a dynamic calculation of the Taxable Value multiplied by the Factor of 1.8868.

Add enables you to save the newly added Reportable Fringe Benefit Transaction.

Delete enables you to delete an existing Reportable Fringe Benefit Transaction.

RFB Total displays the Grand Total of all Reportable Fringe Benefit Transactions, or a specific Type can be selected to view the balances.