by Donna Hurst
Dynamics SL users, are you looking for an easier way to maintain your Medical/Dental/Vision amounts for the new year? Not looking forward to going into every employee and manually updating the amount to withhold? Now you don’t have to! You can use a Rate Table to maintain the rate schedule from your insurance company!
Below are the simple steps to setup a deduction and use a Rate Table:
1) Payroll / Payroll Table Maintenance
2) Enter an ID and Description for this Table
3) Choose “Rate Table” as the Type
4) Enter in your rate table using the rates for your medical insurance as follows:
a. You are going to enter your rate table using the “Amount in Dollars” (as a negative) and the “On Base Units Over” fields. Line 1 will have your first amount and would be $-150.00 on base units over 0. So if you enter 1 as the Other Exemptions value in the employee screen, then the employee would get the 150.00 amount withheld. Line 2 might be a $-300.00 On Base Units over 1. If the employee has 2 “other” then they would have a deduction of 300.00 and so on.
b. Continue to setup the rate schedule according to the information provided by your insurance company. Use each line and the On Base Units Over field to identify the level of coverage. This is the amount that is to be taken each payroll.
5) Create a deduction for the medical insurance as follows:
a. Deduction Type: All Other
b. Base Type: No Base
c. Click on the Exemptions/Credit tab
d. Marital Status: All Statuses
e. Type: Credit
f. Exemption/Credit ID: Create one
g. Base Type: Nbr Other Exemptions
h. Calculation Method: Rate Table
i. Payroll Table: Enter the table entered above.
6) Save your deduction
7) Attach to the appropriate earnings types.
8) In Employee Maintenance, add the deduction to the employee and update the “Other” exemptions value with the appropriate number to obtain to correct deduction amount.
That’s it! I welcome your comments or questions.