Select New to create the deduction. Select the options that apply to your deduction for the categories below.
Select the calculation method from the drop-down list.
Select the category that applies to your deduction.
Individual: Allows each employee to specify a different amount.
System: Allows the same amount for each employee.
Company Ind: The company pays a deduction, and each employee has a different amount.
Company Sys: The company pays a deduction, and the amount is the same for every employee.
Credit account: Specify the liability account defined.
Debit account: Specify the expense account defined for company paid deductions.
Limit: Specify the annual limit, if any, and the Active period.
Tax Check boxes: Verify with your tax advisor for specific tax requirements for your plan. NOTE:Checking taxable boxes adds both employee and employer deduction amounts to employees' taxable wages. For example, to include the amount in Box 1 of the W-2, select FWT taxable. Select SWT taxable for the amount to appear in Box 16 of the W-2.
Tax category: Verify with a tax advisor.
W-2, PENSION PLAN: Verify with a tax advisor.
W-2, BOX NUMBER: Verify with a tax advisor.
W-2, BOX ID: Verify with a tax advisor.
Select PR, Employees, Maintain Employees, and select the appropriate employee record.
Select the Deductions button to assign the deduction created.
NOTE:Selecting Variable Entered on Time Card makes the deduction appear in the Earnings drop-down on the time card.
NOTE: