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)
Notes
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


Default Rates

We have default rates ready to use which cannot be altered. These include Hourly, Daily & Cost of Materials and also Statutory rates like Maternity, Paternity, Sick Pay etc.

Another Default rate which cannot be altered is TRONC. This rate should be used when a TRONC Master arrangement is present for the handling of staff tips in which case this rate treats the funds as Taxable, but not NICable or Pensionable.

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