Payment Rates

Payment Rates

Nxsys has a default list of Payment Rates that are used to create or import timesheets but also allows you to create an unlimited number of other Payment Rates and configure them to your needs. 
  1. Code --> System generated number (leave this untouched)
  2. Description --> Enter a description you want to show on your timesheets and payslip
  3. Status --> Set to Active if you want to use this rate otherwise set to Inactive
  4. Display on Payslip --> Set to Yes if you want to show this on the payslip otherwise set to No
  5. Rate Type --> Select Rate if it is NOT cost of material rate for CIS otherwise select Cost of Materials
  6. Units --> Select the unit type. 
    1. Hourly --> Enter 1 in the Hours/Unit box 
    2. Daily --> Enter the number of hours in a day rate (eg: 7 if you want to treat this rate as 7 hours per day)
    3. Monthly --> Enter the number of hours in a monthly rate ( eg: 160 if you want to treat this as 160 hours per month)
    4. Weekly --> Enter the number of hours in a weekly rate (eg: 40 if you want to treat this as 40 hours per week)
Note: Ideally you would only use Hourly and Daily but you have the option to use monthly and weekly too 
  1. Default VAT Code --> Enter the VAT code you want to use for invoicing
  2. Before CIS Tax --> If this payment rate is for CIS and needs to be included in CIS tax calculation select Yes, otherwise select No
  3. Before Tax --> If this payment rate needs to be included in tax calculation select Yes, otherwise select No
  4. Before NI --> If this payment rate needs to be included in NI calculation select Yes, otherwise select No
  5.  Before Pension --> If this payment rate needs to be included in Pension calculation select Yes, otherwise select No
  6. Accrue Holiday Pay (PAYE only) --> If you want this payment rate to accrue Holiday Pay Select Yes, otherwise select N
  7. Raise Invoice? --> If you want this invoice to be included in your invoice Select Yes, otherwise select No


    • Related Articles

    • Setup Holiday Pay

      Nxsys Umbrella supports two Holiday Pay methods Advanced Retained In the Advanced calculation, Nxsys will calculate Holiday Pay for that tax period and pay it out to the worker in the same tax period In the Retained calculation, Nxsys will calculate ...

    • Holiday Pay Balance Detail Report

      The Holiday Pay Detail report, shows the balance of all workers by tax period. It will show the initial balance when the worker starts and then any accrued/ paid out amounts each time a request is made. The reports can be accessed by navigating to ...

    • Setup Holiday Pay at Agency Level

      Nxsys allows you to setup custom Holiday Pay settings if different from your default company Holiday Pay method. Once set, these Holiday Pay settings will apply to all employees and timesheets processed against this agency. To setup custom Holiday ...

    • Invoice Settings

      Nxsys allows your to customize your invoicing settings for each agency. To enable custom settings for each agency Open your agency Click the Payroll & Finance Tab Under invoice Enter your agency's VAT number Enter the VAT rate applicable to your ...

    • Payment Models Explained

      PAYE In this PAYE model, employees pay only employee costs listed below. All other employer related costs are covered by the employer. This model is typically used for Agencies looking for a fully outsourced PAYE solution Employers running their own ...