This page (revision-16) was last changed on 26-Nov-2021 10:22 by rforbes

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

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UPCALC INSUFFICIENT EARNINGS
UPCALC INSUFFICIENT EARNINGS

Version management

Difference between version and

At line 78 changed one line
|PC 3002 401K Plan|%%strike 62.56/% __61.60__ with arrears of 0.96
|PC 3002 401K Plan|%%strike 62.56/% 61.60 with Arrears of 0.96
At line 81 changed 4 lines
||PC ||Gross – 125 Plan – 401K||Total
|PC 8005 FIT Earn|192.31 – 124.47 – __61.60__|= __6.24__
|PC 8037 FICA EE Earn|192.31 – 124.47| = 67.84
|PC 8045 Work SIT Earn|192.31 – 124.47 – __61.60__|= __6.24__
Gross – 125 Plan – 401K
PC 8005 FIT Earn 192.31 – 124.47 – 61.60 = 6.24
PC 8037 FICA EE Earn 192.31 – 124.47 = 67.84
PC 8045 Work SIT Earn 192.31 – 124.47 – 61.60 = 6.24
At line 86 changed 2 lines
From PC 8045 Work SIT Earn of %%strike 5.28/% $6.24, it calculates:
|PC 6040 Work SIT|=%%strike 0.04/% 0.05
From PC 8045 Work SIT Earn of 5.28 $6.24, it calculates:
PC 6040 Work SIT = 0.04 0.05
At line 89 removed one line
When Net Pay is calculated again after taxation, since PC 6040 Work SIT increases from 0.04 to 0.05, there is new Insufficient Earnings for 0.01 (one cent). Therefore PC 3001 generated an additional Arrears 0.01 to __0.97__ and PC 3001 is reduced to __61.59__, thus the Taxable Earnings need to be adjusted again.
At line 91 changed one line
For US Taxation, 125 Plan and 401K Plan deductions should be exempted from taxable earnings as
When Net Pay is calculated again after Taxation, since PC 6040 Work SIT increases from 0.04 to 0.05, there is new Insufficient Earnings for 0.01 (one cent). Therefore PC 3001 generated an additional Arrears 0.01 to 0.97 and PC 3001 is reduced to 61.59, thus the Taxable Earnings need to be adjusted again.
At line 93 removed 4 lines
||Pay Component||Gross – 125 Plan – 401K||Total
|PC 8005 FIT Earn |192.31 – 124.47 – __61.59__|= %%strike 5.28/% %%strike 6.24/% to __6.25__
|PC 8037 FICA EE Earn|192.31 – 124.47|= 67.84
|PC 8045 Work SIT Earn|192.31 – 124.47 – __61.59__|= %%strike 5.28/% %%strike 6.24/% to __6.25__
At line 98 changed one line
US Taxation is called again and all taxable earnings are correct, arrears are generated.
For US Taxation, 125 Plan and 401K Plan deductions should be exempted from Taxable Earnings as follows:
Gross – 125 Plan – 401K
PC 8005 FIT Earn 192.31 – 124.47 – 61.59 = 5.28 6.24 to 6.25
PC 8037 FICA EE Earn 192.31 – 124.47 = 67.84
At line 98 added 4 lines
PC 8045 Work SIT Earn 192.31 – 124.47 – 61.59 = 5.28 6.24 to 6.25
US Taxation is called again and all Taxable Earnings are correct, Arrears are generated.
At line 104 changed one line
*UPCALC processes all Pay Points and Pay Point Tasks according to the IPPP set up for the Pay Category of each time sheet.
*UPCALC processes all Pay Points and Pay Point Tasks according to IPPP set up for the Pay Category of each timesheet
At line 106 changed one line
*In IPPP ‘80-Net Pay’ Pay Point, if there is insufficient earnings for a time sheet to cover all deductions, UPCALC triggers the Insufficient Earnings logic to generate arrears.
*in IPPP ‘80-Net Pay’ Pay Point, if there is Insufficient Earnings for a timesheet to cover all deductions, UPCALC triggers the Insufficient Earnings logic to generate Arrears
At line 108 changed one line
*If any arrears are generated for a time sheet, UPCALC will perform Insufficient Earnings Net Pay Processing according to IPPP ’82-Insufficient Earnings’ pay point set up.
*if any Arrears are generated for a timesheet, UPCALC will perform Insufficient Earnings Net Pay Processing according to IPPP ’82-Insufficient Earnings’ pay point set up
At line 110 changed one line
*From IPPP ’82-Insufficient Earnings’ pay point, UPCALC performs the Pay Point Task entries for this Pay Point and then re-check if additional arrears are generated.
*from IPPP ’82-Insufficient Earnings’ pay point, UPCALC performs the Pay Point Task entries for this Pay Point and then re-check if additional Arrears are generated
At line 112 changed one line
*If no more arrears are generated after ’82-Insufficient Earnings’, then UPCALC returns to IPPP Pay Point that is immediately after the ‘80-Net Pay’ Pay Point entry.
*if no more Arrears are generated after ’82-Insufficient Earnings’, then UPCALC returns to IPPP Pay Point that is immediately after the ‘80-Net Pay’ Pay Point entry
At line 114 changed one line
*If additional arrears are generated after ’82-Insufficient Earnings’, then UPCALC will perform the same ’82-Insufficient Earnings’ pay point tasks the second time, this is the example as shown above that fix the Taxable Earnings.
*if additional Arrears are generated after ’82-Insufficient Earnings’, then UPCALC will perform the same ’82-Insufficient Earnings’ pay point tasks the second time, this is the example as shown above that fix the Taxable Earnings
At line 116 changed one line
*UPCALC will perform ’82-Insufficient Earnings’ pay point entries two times or when there is no arrears generated after the first time is performed.
*UPCALC will perform ’82-Insufficient Earnings’ pay point entries 2 times or when there is no Arrears generated after the first time is performed
At line 118 changed one line
*The taxation amounts and earnings should be accurate after two recursive calls to ’82-Insufficient Earnings’.
*The taxation amounts and earnings should be accurate after 2 time recursive calls to ’82-Insufficient Earnings’
At line 120 changed 13 lines
*In IPPP ’82-Insufficient Earnings’ pay point, you may perform the following Pay Point Tasks:
**Legislative Calc
***if any deduction pay components are to be exempted from Taxable Earnings, user must set up Legislative Calc’ entry to re-calc, otherwise not needed
**UserCalc
***user may adjust Tax results after Legislative Calc
***user may adjust Employer portion for Employee Amount
***otherwise not needed
**Net Pay
***if the Tax is re-calculated, then Net Pay Entry must exist
***if user only adjust certain Pay Components that do not affect Net Pay, then there is no need to set up Net Pay entry
*When UPCALC performs ’82-Insufficient Earnings’ pay point, if there are advances given in the same time sheet, UPCALC clears all advances prior to perform ’82-Insufficient Earnings’ pay point because when Net Pay is called again, the advances will be given again.
*When UPAUDT is run to prepare all Pay Point entries for a time sheet, the IPPP ’82-Insufficient Earnings’ entries will not be pulled in by the Prep process in UPAUDT.
*User can set up IPPP ’82-Insufficient Earnings’ pay point by Pay Category, this allows you to dynamically adjust the Net Pay based on the types of pay.
*in IPPP ’82-Insufficient Earnings’ pay point, the user may perform the following Pay Point Tasks:
At line 124 added 17 lines
**Legislative Calc - if any deduction pay components are to be exempted from Taxable Earnings, user must set up ‘Legislative Calc’ entry to re-calc, otherwise not needed
**UserCalc - user may adjust Tax results after Legislative Calc
- user may adjust Employer portion for Employee Amount
- otherwise not needed
- Net Pay - if the Tax is re-calculated, then Net Pay Entry must exist
- if user only adjust certain Pay Components that do not affect Net Pay, then there is no need to set up Net Pay entry
- when UPCALC performs ’82-Insufficient Earnings’ pay point, if there are Advances given in the same timesheet, UPCALC clears all Advances prior to perform ’82-Insufficient Earnings’ pay point because when Net Pay is called again, the Advances will be given again
- when UPAUDT is run to prepare all Pay Point entries for a timesheet, the IPPP ’82-Insufficient Earnings’ entries will not be pulled in by the Prep process in UPAUDT
- user can set up IPPP ’82-Insufficient Earnings’ pay point by Pay Category, this allows user to dynamically adjust the Net Pay based on the types of pay
[{If var='loginstatus' contains 'authenticated'
At line 135 changed 2 lines
![Notes|Edit:Internal.UPCALC INSUFFICIENT EARNINGS]
[{InsertPage page='Internal.UPCALC INSUFFICIENT EARNINGS' default='Click to create a new notes page'}]
![Discussion|Edit:Internal.UPCALC INSUFFICIENT EARNINGS]
[{InsertPage page='Internal.UPCALC INSUFFICIENT EARNINGS' default='Click to create a new discussion page'}]
}]
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This page (revision-16) was last changed on 26-Nov-2021 10:22 by rforbesTop