Potential Bug - Recurring PS Amendments Percent Type

[Yajasi]

I have added a Recurring PS Amendment that multiplies a PS Account by a percent. I have configured the amendment to take a percentage of one account from the PS, multiply it by 33%, and save the result in another account on the PS.
[img]PSamend-Before.png[/img]

When I save my configuration, the database is updated correctly. Table recurring_ps_amendment correctly shows the PS accounts that I have selected.

However when I open up the Recurring PS Amendment, the field "Percent Of" changes to match the account in the field "Pay Stub Account." This requires our users to re-select the correct "Percent Of" account before saving their changes.
[img]PSamend-After.png[/img]

It would be great if TimeTrex didn't change this field value when the item is opened for editing. Thanks in advance!

[Yajasi]

I should mention that I am multiplying a type "Miscellaneous" PS Account by the percentage (33%).
I am storing the result in a type "Earning" PS Account.

[shaunw]

I'll pass this on to the developers to investigate further. However we don't typically recommend using Recurring PS Amendments anymore, the Tax/Deduction system offers much more flexibility with less potential problems (and retroactive calculations too). Even though we call it "Tax/Deductions" it can calculate earnings or any other type of line item on the pay stub.

[Yajasi]

I guess it would be a good idea to start moving all of our Recurring PS Amendments over to the Taxes / Deductions area. It sounds like that Recurring PS Amendments feature will be discontinued at some time.

[Yajasi]

Actually I really hope the feature is NOT discontinued. The Recurring PS Amendments is extremely helpful for loan repayments. Often our employees asked to have a loan schedule setup for up to a year. Often, they will want to make a larger payment on their loan than the automatic loan schedule.

The Recurring PS Amendments work great for this because the payroll administrator can adjust the Amendment for one month only and just adjust the length of the loan schedule accordingly.

[shaunw]

The Tax/Deduction system has an automated loan repayment system built in to it, that works much better than recurring PS amendments. The loan repayment amount can be changed at anytime, or additional amounts can be taken off manually at anytime too, and it will automatically handle how many more payments need to be made.

It can also display the remaining balance to the employee on every pay stub.

Recent installations of TimeTrex have the loan repayment Tax/Deductions setup automatically, but if you have using TimeTrex for a while you would have to set it up manually.

[Yajasi]

I'm using version 7.1.2 which was upgraded from a previous version (can't remember if we jumped from v3 to v7 or from v5 to v7).

Where can I find instructions for setting up Loans manually? If my version does not require a manual setup, then can you give some instructions for a Tax/Deduction loan repayment? The only thing the administrator guide says is...

This calculation is useful for automatic processing of loans. For example, you can deduct $100 from an employee's pay stub until the Loan Accrual value reaches $0.

Also you mentioned...

The loan repayment amount can be changed at anytime, or additional amounts can be taken off manually at anytime too, and it will automatically handle how many more payments need to be made.

Where do I adjust the repayment amount for a single payment? It seems that adjusting the repayment amount in the Tax/Deduction entry would change the repayment amount for all past (should a post adjustment be made) and future payments. Is there a way to adjust only one of the payments?

[shaunw]

You can use Pay Stub Amendments to adjust any line item of any pay stub you wish, including loan payments as a one-off adjustment.

The basic idea with the automated loan functionality is the Tax/Deduction automatically handles the regular payments until the loan balance equals zero. The manual part is adding the loan balance, which is done with pay stub amendments directly to the Loan Accrual pay stub account.