Global Payroll for New Zealand Business Processes
Global Payroll for New Zealand supports the following business processes:
Taxation.
Global Payroll for New Zealand comes with all the elements required to calculate a payee's tax correctly. Whatever the scenario—multiple payments within a calendar period, annualized tax, mid-period hires, or terminations—the system correctly calculates the tax.
Net-to-gross Payments.
Gross ups are required when you want to pay a payee a specific net amount. Starting from the net amount the system works out what gross amount to process so that after all tax deductions have been made the required net amount remains.
Banking and Recipient Processing.
The banking process of Global Payroll brings together payroll data, pay entity source bank data, payee or recipient bank data. The EFT file creation process extracts data compiled by the banking process according to the type of EFT file that you are creating, merges it with data provided by the New Zealand country extension, and creates the file for transmission.
Off-Cycle Payments
Using the Off Cycle on Demand component, you can set up and process payments outside of the normal payroll schedule. Off-cycle transactions are usually made to correct prior payments, enter manual payments, or to make advance payments that can't wait until the next scheduled payroll run.
Important! Advance payments do not replace New Zealand Pay in Advance functionality used for absences.
Payslips.
The design of the payslip feature enables you to create and control payslips that display the data that you want, where you want it and in the format that you want. You can override templates at lower levels, so you do not have to create multiple templates to cover every payslip scenario that you may have.
General Ledger Interface.
Building on the Global Payroll general ledger interface, the New Zealand country extension enables you to link journal types to GL groupings so you can report by journal type, calculate accrued salary and leave liability, report leave liability and run the GLI processes.
Absences and Terminations.
Global Payroll for New Zealand delivers predefined rules for processing absence payments, such as annual leave, sick leave, unpaid leave, special leave, long service leave and ACC leave. Rules are also delivered to calculate absence entitlements on termination, including rules for the payment of unused annual leave and the proration of pay for public holidays that occur within fourteen days after an employee is terminated
IRD Reporting
The functionality within this Global Payroll country extension enables you to meet the New Zealand Inland Revenue Department's (IRD) requirement to produce the IR 345/6 Employer deductions Remittance certificate twice a month and the IR 348 Employer Monthly Schedule (EMS).