This tutorial shows how to set up a Loan Repayment Deduction inside Payroll Mate® software.
Summary of Steps
This is just a summary; please click “Download Tutorial” for detailed instructions with screenshots.
- Click → Company from shortcuts
- Click → Deduction Categories
- Click → Add
- Enter Title, Abbreviation, Select Calculation (Fixed is the general method) and Paid by
- Enter default deduction amount (field cannot be blank) and Cutoff as applicable
- Checkmark the W2 Options as applicable
- Review/Edit Tax Exemptions as needed
- Click → OK
You will apply the Loan Repayment deduction(s) to each employee as needed
- Click → Employees from shortcuts
- Select the employee to edit
- Click → Edit
- The Modify Employee Wizard will open, Click → Next until you reach the Deductions page
- Checkmark the Loan Repayment deduction(s) that need to be applied to this employee
- Click → Next until you reach the end of the wizard
- Click → Finish