Lump Sum A payments have several types:
The Lump sum payment A type may be as follows:
R = where payment was for a genuine redundancy, invalidity or under an early retirement scheme.
T = where payment was not a payment for a genuine redundancy, invalidity or under an early retirement scheme.
The default type for Insolvency is "R", however you may make payments using an account that is configured for "T" or you can edit the way existing payments are reported by editing the PAYG details in an entry.
Most Lump Sum payments will result from dividends and will automatically be produced from dividend production. You can configure an account to report all employee payment types.
If you need to report Lump Sum payments as type "T" you will need to add a new account as follows:
The account details for a Lump Sum Type "T" payment:
If you need to edit the tax reporting treatment of existing entries then you can edit transactions as follows:
An example of editing the PAYG details of an Entry:
Where an employer makes multiple lump sum A payments and the code changes between payments the employer should report the code relating to the latest payment.