All payments that are done outside payroll have to be accounted for to calculate the tax liability. Like how we enter the tax deducted outside the system, in the same way, the Earnings should also be updated.
To update payments like Bonus etc.
Create a Salary component with the same name as Bonus.
Uncheck the box- ‘Paid Component’.
For other fields, follow the same process on “How to create a Salary Component”.
Please use this link. How to create a salary component : Help Center (freshdesk.com)
Pls Note:
You can also pay it as a paid component and deduct the net amount under deductions. The payment will be considered for tax and the tax deducted will be set off against the total tax liability.
One-time payments like Stock Options etc. can be added under Perquisites
Follow the same process on “How to update Perquisite amounts”.
Please use this link.How to update Perquisite amounts ? : Help Center (freshdesk.com)
