Step 1: Add a new Pay Type for Excess Life (Manage Pay Types Screen)
The first step to set up excess group life insurance deductions is to add a new Pay Type for Excess Life through the Manage Pay Types screen.
To establish the Manage Pay Types screen:
- Pay Type Code: Set up a three-character code (Example — EXL).
- Description: Add a description (Example — Excess Life).
- Factor: Set to 1.
- Additional Calculations Based on an Amount: Select the Add Pay Type Amount to Timesheet Line option. Amount must remain 0.00.
- Options and Employee Eligibility: Select the following check boxes: Cost Only, Exempt, Non-Exempt, and Salaried.
- Overtime Premium Recasting: Leave this group box blank.
- Weighted Average Rate: Select the Don't Include option.
- Save the screen.
Parent Topic: Setting Up Excess Group Life Insurance Deducations