Since first introducing Pay Run Inclusions we have continued to make further improvements to ensure an ongoing seamless process. Our latest gem of an enhancement specifically relates to recurring deductions.
When setting up an employee recurring deduction, you can now prescribe a minimum net earnings amount that the employee must be paid before all or part of the deduction amount is applied in the pay run. We refer to this as ‘preserved earnings’.
Ultimately, you eliminate the need of having to manually adjust the amount of any recurring deductions within a pay run when you apply preserved earnings. Rather, KeyPay takes over responsibility and ensures the correct amounts are deducted based on each setting.
When setting up a new or editing an existing recurring deduction, you will see the following drop down option:
When you select the second option, the following box will appear:
Set up your preserved earnings criteria in 3 easy steps:
Now to clarify the meaning of my handy hint with examples of what happens in the pay run:-
Preserved Earnings = $400; Pay deduction up to preservation limit; Carry unpaid deduction amount forward
Preserved Earnings = $0; Do not pay the deduction; Carry unpaid deduction amount forward
Preserved Earnings = $350; Pay deduction up to preservation limit; Don’t carry unpaid deduction amount forward
Let us know what you think! We’d love to hear your feedback or questions via comments or email@example.com.