Bonus Process Method

There are two ways of processing bonuses in the Worksy system. Users can refer to either Method A or B based on the company requirements.

Method A: Process Bonus together with monthly payroll cycle – one payslip

Method B: Process Bonus separately from monthly payroll cycle – two payslips

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Method A 

Create a bonus payroll item in Settings > Payroll > Payroll Item > Earning. Choose the statutory flagging correctly to not miss out on the Bonus payment from taxable.

You can add bonus payout manually in the Individual Transaction or can use the Import template at Import > Payroll > Individual Transaction to add a batch update of Bonus Payout for a number of selected employees

Navigate to Payroll > Process > Monthly to process the Bonus together with the monthly payroll process.
 

Method B 

Create Bonus pay cycle in Settings > General > System Label > Payroll > Pay cycle > Add New. 

Note: The pay cycle for a normal salary should not be the same as the Bonus to avoid variance in the payroll figures.

You can add bonus payout manually in the Individual Transaction or can use the Import template at Import > Payroll > Individual Transaction to add a batch update of Bonus Payout for a number of selected employees

Kindly navigate to Payroll > Process > Bonus to process the bonus separately from the monthly payroll process

Note: Check the access to this screen with your administrator if you are not able to view this screen in Payroll Module

d) Select Bonus pay cycle during Bonus payroll processing

You may see other related articles to Bonus below :

• Payroll Process - Bonus: Knowledge Base (freshdesk.com)
  
• Payroll Policy - General Settings: Knowledge Base (freshdesk.com) 
• Payroll Policy - Cut Off: Knowledge Base (freshdesk.com) 
• Review Payroll Process Result: Knowledge Base (freshdesk.com)