Beneficiaries
Beneficiaries are third parties that receive payments from the employer as a result of certain payslip transactions. For example, if you offer a medical aid benefit or a retirement fund benefit (such as pension), the beneficiary is the institution offering the medical aid fund or retirement fund.
To simplify payments to beneficiaries and minimise the risk of human error, SimplePay generates a beneficiary report and batch payment file (also called an EFT export file or GIRO export file) for each pay run. The batch payment file allows you to pay your beneficiaries in bulk by simply uploading the file into your banking portal.
Step 1: Set up beneficiaries¶
To set up beneficiaries:
- Go to Settings > Beneficiaries.
- Click on Add under the relevant system item to add a beneficiary for a system item, or click on Add under Custom Beneficiary to add a beneficiary for a custom payslip item.
- Complete the Name and Bank Account Details fields for the beneficiary.
- Click on the Include in Beneficiaries EFT export checkbox if you will be paying the beneficiary using the batch payment file generated by SimplePay.
- If you selected the checkbox in the previous step, you will now need to specify the EFT payment type from the dropdown menu.
- If you select “Single lump sum payment”, you will then need to enter the references to be used when making payment.
- If you select “Payment for each employee”, you will need to specify the references for each employee when adding the item to their payslip
- If you selected the checkbox in the previous step, you will now need to specify the EFT payment type from the dropdown menu.
Step 2: Assign beneficiaries to custom items¶
If the beneficiary that you have set up in step 1 will be used for an existing system item (only available in some regions), you can ignore this step. If the beneficiary that you have set up in step 1 will be used for a custom item, you then need to link the beneficiary to the custom item.
For more information on this, refer to the following Help Site article:
Step 3: Process payslips¶
Once you have set up your beneficiaries and linked them to custom items, where relevant, you can then process the item on the payslip.
If you are using a system item, you will need to select the beneficiary from the beneficiary list when prompted.
If you are using a custom item, you will only need to specify the beneficiary from the beneficiary list if you specified that the custom item has different beneficiaries for different employees when setting it up in step 2.
In both instances, you will need to enter the references to use if you specified that a separate payment must be made to the beneficiary for each employee when setting up beneficiaries in step 1.
Step 4: Create a pay run to download the Beneficiaries report and EFT export file¶
Once you have processed and finalised your payslips, you will need to create a pay run. The Beneficiaries report and batch payment file can then be downloaded. You can then log into your bank portal and upload the file to pay your beneficiaries in bulk.
More information on pay runs can be found in the following article: