Workpapers

Debt Waiver Workpaper

Use this workpaper for Debt waiver benefits.
To open the Debt Waiver Benefits workpaper, select
Benefits
, then
Debt Waiver
 from the navigation bar.

The Workpaper Interface

ONESOURCE Fringe Benefit Tax provides several features that help you find information and let you organise your workspace so that it works best for you.
Customising the Grid
Some columns are hidden by default, and you can select the columns you want to show or hide. To show a hidden columns select the gear icon in the upper right corner and check the checkboxes next to the columns you want to show.
You can also move and resize columns.
Toolbar Ribbon
The icons on the toolbar ribbon above the workpaper provide options for working with the workpaper.
  • Delete:
     Select one or more rows in a workpaper and use the
    Delete
     button to delete individual rows.
  • Delete All
     : Use the
    Delete All
     button to delete all rows on all pages of this workpaper.
  • Upload:
     Use the
    Upload
     button to upload the workpaper.
  • Select All:
     Use the
    Select All
     button to select all rows in the workpaper.
  • Save Layout:
     If you have customised the order of your columns, or have shown or hidden certain columns, you can use the
    Save Layout
     button to lock these choices.
  • Reset Layout:
     If you want to revert to the default column ordering and display, use the
    Reset Layout
     button.
  • Attachments:
     You can select the
    Attachments
     button to attach document, such as supporting evidence or reference information. You can also use this button to download or delete and attachment.
  • Export:
     Use the
    Export
     button to export workpaper data.
  • Refresh:
     Data is validated as you enter and is saved when you select the
    Refresh
     button or move to the next row.
  • Recalculate:
     The software automatically calculates and applies in-house benefit reductions, exemptions and rebates to individual benefits, and displays these in the benefit workpapers dynamically. If you have made changes to a workpaper, select the
    Recalculate
     button to force recalculation of changes to this benefit only.
    note
    The
    Recalculate
     button update only the current workpaper. You can use the
    Recalculate All
     option in the main navigation to recalculate all workpaper data.
  • Freeze Columns:
     You can freeze columns to the left of view by selecting a column and then selecting the
    Freeze Columns
     button. All rows to the left of the selected row will stay in view while all columns to the right will move with the scroll bar.
  • Audit:
     Select a row, then select the
    Audit
     button to show any manual changes that have been made to the workpaper. The Audit Calc history window shows the ID of the user who made the change, the date and time, and the old and new values.
  • Add/Edit Comments:
     Select the
    Add/Edit Comments
     button to add a comment to a workpaper, or change an existing one.

Workpaper details

Workpaper tab details
Column heading
Description
Employee
The Employee ID is mandatory and needs to exist in the Employee workpaper.
Required
Cost Centre
The cost centre defaults the employee's cost centre as allocated in the Employee workpaper, or to the default cost centre for non-reportable benefits.
State
Defaults to the employee's default state in the Employee workpaper. Use the dropdown to select a different state if necessary.
Description
A short description of the benefit provided (max 255 characters).
Date Provided
A mandatory item. Insert the date the debt is waived by the employer. The date must be within the current active FBT period.
Required
Amount Waived
A mandatory item. The value of the benefit provided.
Required
Taxable Value
This is a calculation of the taxable value for this benefit row. Used for reconciliation with label 23 on the FBT Form.
Grossed up Taxable Value
Calculated value depending on gross up rate selected.
Reportable Value
Calculated value of reportable fringe benefits taxable value for this benefit. The value shown is capped at the applicable threshold and will display 0.00 until the employee exceeds this cap. The capping test is across all relevant benefit workpapers.
Tax Payable
Calculated value of FBT payable for this benefit.
Exemption Applied, $17,000 Cap
Represents the amount of 17,000 cap used.
Grossed up Taxable Value, $17,000 Cap exceeded by
Represents the amount by which a person exceeded their 17,000 cap.
Tax Payable $17,000 Cap Applied
Represents FBT payable as a result of exceeding the 17,000 cap.
Exemption Applied, $30,000 Cap
Represents the amount of 30,000 cap used.
Grossed up Taxable Value, $30,000 Cap exceeded by
Represents the amount by which a person exceeded their 30,000 cap.
Tax Payable $30,000 Cap Applied
Represents FBT payable as a result of exceeding the 30,000 cap.
Standard Category
Can select standard categories created for this benefit workpaper. Defaults as blank.
GST %
A read-only display value.
Benefit ID
An autogenerated ID used in benefit tracking in reports.
Reporting Entity Name
Defaults to the currently filtered reporting entity code and name.
Checklist tab details
Checklists present questions that you should answer or issues that you should consider while preparing your FBT return. At the end of each checklist, you can click into the information to add comments or sign off on the workpaper.
Notes tab details
The
Notes
 tab provides an area where preparers and reviewers can record information. The format bar lets you apply styles and formatting to notes, similar to applications such as Microsoft Word. You can also insert images and hyperlinks and can print notes.

This article applies to:

  • Product: ONESOURCE Fringe Benefits Tax
  • Subject: Workpapers