Open the starter file and complete all of the details on the home page as per usual.
The FBT Workpapers are split into three sections as outlined below:
The purpose of the employee workpapers is to provide a summary of the benefits per employee and also the Reportable Fringe Benefit Amount to be entered on the employee PAYG Payment Summaries at the year end.
Add one employee summary workpaper per employee under the "Employees" tab as shown below.
Note: Rename the worksheet title to the name of the employee for easy identification.
The name on the Employee summary will automatically pre-fill from the index page. after completing the Benefit workpapers and selecting the "Refresh" button all worksheets attached to this employee name will flow through to the Employee Summary.
The benefits workpapers provide the calculation of taxable fringe benefits and/or any employee contribution amounts required to be offset against the taxable fringe benefits.
Under the Benefits Section add all of the required workpapers.
Note: Add one sheet per benefit per employee for most of the benefits, with the exception of Car Parking Fringe Benefits, Simplified Car FBT and Meal Entertainment Benefits.
On each of the benefit worksheets select the relevant employee.
Note: This list is generated from the index page as show above in the Employee's Section
Complete the worksheet, ensuring that all of the necessary labels have been completed to flow through to the summary. In order to populate the Employee summaries, click the "Refresh" button. This button is located at the top of all the benefit worksheets (as shown below), on the employee summary worksheets or on the index page.
Lastly, the FBT summary will assist you in preparing the FBT return for the client.
Note: For all information to be available in the FBT summary, "Click" one of the refresh buttons.