As part of the transition Paycycle has been included in your Xero subscription since Dec 2011 for customers on the $49 or $64 subscriptions. (depending on # of Employees)
Using Xero’s current payroll- within the software. Please refer to last month’s eBrief for detail set-up instructions. Set up a Pay item – Deduction of Salary Sacrifice
1. Click on Settings
2. Enter your Chart of Accounts. Ensure you link to your Xero Org, this will automatically import the Xero Chart of Accounts.
3. Modify your Company’s Settings, including contact info, default accounts and bank details.?If you use adjusted accounts – make sure you check default accounts in Settings as Paycycle uses Xero’s generic accounts
4. Enter the Payroll Calendars your company uses to process pays (for example, weekly, fortnightly or monthly)
5. Enter your Payslip Items, basically everything that appears in your employees payslips (earnings rates, deductions, reimbursements and leave types)
6. Include all the Superannuation funds your company uses.
7. Enter Tracking Categories, either Employee Groups of Timesheet Categories (or import them from Xero).
8. Add Users you’d like to access Paycycle.
Add a Deduction Type under Payslips Items. Make sure you tick ‘Reduce PAYG Witholding’. For Each Employee you can add Salary Sacrifice thru Pay Templates – Add Superannuation Line & Amount