This page (revision-18) was last changed on 26-Nov-2021 10:22 by jmyers

This page was created on 26-Nov-2021 10:22 by jmyers

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Page References

Incoming links Outgoing links
GROSS UP AWARD PROCESS
GROSS UP AWARD PROCESS

Version management

Difference between version and

At line 3 changed one line
!!GROSS-UP AWARD PROCESS
!!!GROSS-UP AWARD PROCESS
At line 5 changed one line
Certain payments are made to employees which are “grossed up” so that a the after tax net pay is the target payment. If an employee is to receive a $500.00 payment after tax, then a gross up amount must be calculated so that the gross pay is increased to reflect an after tax payment of $500.00.
Certain payments are made to employees which are “grossed up” so that a the after tax net pay is the target payment. If an employee is to receive a $500.00 payment after tax, then a gross up amount must be calculated so that the gross pay is increased to reflect an after tax payment of $500.00.
At line 9 changed one line
IMVR – User Variables
!!IMVR – User Variables
At line 22 changed one line
GU_SUI_PA .09 (Not sure if this is used – re Karen)
GU_SUI_PA .09 (Not sure if this is used – re Karen)
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Note that these may have to be updated if tax rates change. If there is a change in a tax rate, it will not be seen in the net pay result of the gross-up calculation as any difference between the target amount and the result of the legislative calculation’s net pay is adjusted to equal the target amount. The difference is added to the federal tax deduction which may then reflect a higher-than intended deduction.
%%important Note that these may have to be updated if tax rates change.%%
At line 26 added 2 lines
If there is a change in a tax rate, it will not be seen in the net pay result of the gross-up calculation as any difference between the target amount and the result of the legislative calculation’s net pay is adjusted to equal the target amount. The difference is added to the federal tax deduction which may then reflect a higher-than intended deduction.
At line 30 changed one line
User Calc PR-2500_GROSS_UP
!!User Calc PR-2500_GROSS_UP
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This user calc is placed at sequence 10, 60-gov’t calculations, before legislative calculations are triggered at sequence 100.
This user calc is placed at sequence 10, 60-gov’t calculations, before legislative calculations are triggered at sequence 100.
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User Calc PR-2500_FICA_MED
!!UserCalc PR-2500_FICA_MED
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User Calc PR-2500_GU_ADJST
!!User Calc PR-2500_GU_ADJST
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IPPP Define Pay Points
!!IPPP Define Pay Points
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IPPGU – US Pay Categories
IPPGU – US Pay Categories
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1. Create a pay header(s) using the Pay Category GROSS UP.
a. UPCPAY can be used for a manageable group of employees to be paid; in this case PC2500 will be manually added to the pay headers with the achievement amount entered for each employee (The Target amount).
b. For a large number of employees, it may be more practical to use an Excel spread sheet to create a data load into IPTL which will then be loaded into pay headers using UPTL. This will consist of the employee number, date and amount. All other information will be defaulted into the IDIF that controls the load. (No IDIF has yet been built to load this data. If required a request should be entered to build it).
2. The GROSS UP pay category will use the Federal Supplemental and State Supplemental percentage rates for the tax calculations. These are set as override to individual employee IPRLU settings.
#Create a pay header(s) using the Pay Category GROSS UP.
#*UPCPAY can be used for a manageable group of employees to be paid; in this case PC2500 will be manually added to the pay headers with the achievement amount entered for each employee (The Target amount).
#*For a large number of employees, it may be more practical to use an Excel spread sheet to create a data load into IPTL which will then be loaded into pay headers using UPTL. This will consist of the employee number, date and amount. All other information will be defaulted into the IDIF that controls the load. (No IDIF has yet been built to load this data. If required a request should be entered to build it).
#The GROSS UP pay category will use the Federal Supplemental and State Supplemental percentage rates for the tax calculations. These are set as override to individual employee IPRLU settings.
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![Notes|Edit:Internal.ACCOUNTS+PAYABLE+-+UPVEND]
[{InsertPage page='Internal.ACCOUNTS+PAYABLE+-+UPVEND' default='Click to create a new notes page'}]
This page (revision-18) was last changed on 26-Nov-2021 10:22 by jmyersTop