Compute and pay 13th month pay
One run per year from posted basic salary, with amounts above the exempt limit flagged.
GodoERP computes 13th month pay once per calendar year from each employee's posted basic salary. Whether and how much an employee is entitled to is for you and your HR adviser to decide.
Where: HR › 13th Month Pay.
Steps
- Choose the Year and click Open / View Run.
- Click Compute 13th Month Pay. GodoERP sums each employee's posted basic salary for the year and divides it by 12. You'll see the Basic Salary Total (Year), 13th Month Pay and any Taxable Excess.
- Check it. Use Recompute after posting more payroll.
- Approve, then Post to GoDoBooks.
- Disburse: record the payment, in parts if needed.
Amounts above the exempt limit
The page flags an employee whose 13th month pay and other benefits go over the exempt limit stored in GodoERP. The taxable excess is not withheld automatically. Include it in that employee's year-end tax annualization. Ask your accountant to confirm the limit.
Corrections
Before any disbursement, use Void 13th month run. This posts a reversing entry, and the run goes back to computed so it can be corrected and posted again. Nothing is deleted.
Tip: Run it after the payrolls you want included are posted, and before your own payout date. Ask your accountant or HR adviser about payout deadlines.