You can upload historical data for an individual employee to determine their Year-To-Date earnings, and this can be done for the following:
This historical data is used in Annualization to compute the correct total amount of tax the employee should have been paid for the year and enables companies to make adjustments accordingly.
An employee's Year-To-Date summary can be found by going to Employees>select Employee>Payroll Records.
Under “Year To Date Information”, you can select either Update Current Employer YTD Data or Update Previous Employer Data.
Update Current Employer YTD Data - this is where you consolidate the employee taxable and non-taxable earnings before your company joined Salarium.
Note: It is not possible to add YTD information for the previous year.
Non Taxable income
Update Previous Employer Data - this is where you can consolidate the employee taxable and non-taxable earnings from their previous employer (You can get this information from the Employee 2316 BIR Form from the previous employer)
You will need to provide the following information for the employee’s previous company:
Taxable and non-taxable information is the same as current employer historical data.
Note: If you add Year To Date information and set your Annualization schedule to End of Each Month, the information will reflect on both the end of month annualization and the end of year annualization.