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FAQ: If the rates of my deductions change as of July 1, how can I make the EOFY process of paying off contracts or expensing payroll reflect the new rates?
If the rates of my deductions change as of July 1, how can I make the EOFY process of paying off contracts or expensing payroll reflect the new rates?
To have the correct board-paid benefits expensed, enter the new rates with the correct Rate Change Date in the Deduction File (refer to the Changing a Deduction topic in the Help File for detailed instructions). Then, using the Date Sequence fields in the Advanced Options screen when creating the payroll calculation batch, enter the respective June, July, and August dates. The system will know which rate to use based on these dates.