Payroll Detail Maintenance - Distribution Account Information

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Description

Enter the amount to be deposited into this account. Funds will be transferred from the Base Deposit Account into this account whenever the payroll is posted. If this is a loan account, enter the loan payment.

• NOTE: This can be any amount desired by the member. For example, if the normal loan payment is a monthly amount, but the member receives payroll distributions each week, divide the normal loan payment amount accordingly and enter a weekly total here.

Enter the date on which this distribution should take effect. If the distribution should not begin until a date in the future, enter the effective date here, and this distribution will not appear in the payroll work file until that date.

Enter a sequential number to indicate the order in which funds should be distributed among the various distribution accounts. This is used in situations where the payroll amount is over or under the normal amount.

• For example, the member may wish to first satisfy his mortgage payment, then make a payment on a car loan. If the paycheck is short, the mortgage payment should be satisfied first.

If the Base Deposit Account is an IRA account type, this field should contain an appropriate IRA Code. If the Base Deposit Account is an HSA account type, this field should contain an appropriate HSA Code.

• NOTE: It is recommend that you use only current year IRA processing codes (C and D) unless you plan to carefully monitor this field. Remember that previous year deposits (P and Q) have an April cutoff date.

If the member wishes the distribution amount to change at some point in the future, this field can indicate the new Distribution Amount, effective on the date shown in the Change Date field.

If the member wishes the distribution amount to change at some point in the future, this field can indicate the date on which the new amount will take effect.

•  IMPORTANT: If using this field, be sure to also enter an amount in the Change Amount field. Otherwise, the change will take place but the new amount will be zero.

This field is not used.

The system will multiply the regular deposit information by the number in this field and perform that many separate payroll distributions, each time a payroll is posted. This can be modified on the work file at the time of the posting, if needed. A blank field means only one distribution will be processed.

This can be used for payroll groups which send multiple payroll payments at one time (such as a school system sending multiple checks for teachers at the beginning of the summer).

• The setting for this field can be different for all distribution accounts. For example, the member may wish to make only one loan payment, even though multiple payroll checks were received.

Description

Use this to cancel any changes and return to the previous screen.

Use this to suspend this distribution record, so that payroll deductions will not be distributed to this account. A confirmation window will appear. Return to this screen and use F4-Reactivate to reactivate the distribution record.

Use this to delete this distribution record. A confirmation window will appear.

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