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Microsoft Dynamics GP (Archived)

Benefits Pay code?

Posted on by 70

I need to set up a new pay code to include fringe benefits (i.e. gift cards, etc.) as taxable income to employees. The value of the fringe needs to be added to an employee’s pay for taxation then subtracted (since they already received the gift card, etc.) similar to reported tips with the exception that they should not be included in the calculation of wages for 401K contributions and match. However, the amount should be included in gross income on the W-2. Also, this code will need to be added to the check stub pay line items.

How would I go about getting this set up in Great Plains?

Thanks so much!

 

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  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    Re: Benefits Pay code?

    If you use a benefit code and set it up to be taxable, you don't need to add and then subtract it.  It is all handled in one step.  But it must be processed with an actual payroll in order to have the taxes withheld.  This amount will not show up on the pay stub with the pay codes, it will show up under the benefits.

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