The Pay Item Summary report displays information by employee for particular Pay Items. Pay Items are the components that make up a persons pay. Things such as tax, take home pay, health benefits, pension amounts, union payments etc. Pay Items are usually of type :
|Wages & Salaries||Generally the core wage components. For example, hourly pay, overtime or commissions. Generally taxable but seek your own advise for your specific circumstances.|
|Deductions||Union fees or charity deductions made from the employees bankable pay. These may be deductible or non-deductible for tax calculation purposes depending on your specific circumstances.|
|Tax Withheld||Tax components calculated or added manually based on taxable pay items for the period.|
|Employer Contributions||Pensions, Superannuation and others as you specifically add them for your circumstances.|
|Entitlements||Annual Holiday Leave, Personal Sick Leave and other employee entitlements as per your legal and/or contracted requirements.|
What can you do with the Pay Item Summary report
A common use is to establish how much Superannuation or Pension money is due to be paid for a period of employment.