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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / life insurance set up
Microsoft Dynamics GP (Archived)

life insurance set up

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Posted on by PManager 215

Hi,

Does anyone know how to set up life insurance (Group Term Life) and how to tax the excess over 50,000?

I am having difficulties setting this up especially since we are already in February. 

Thanks

Gabriel Vergara

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  • L Vail Profile Picture
    L Vail 65,271 on at

    How are you wanting to add it to income? This will be a taxable benefit. No cash changes hands. You need to decide if you want to include it a little each month or all at once. Either way, I believe you would just set it up as a taxable benefit.

    Leslie

  • callen Profile Picture
    callen 4,595 on at

    I believe the poster would like the system to do it automatically, which would be very nice.

    The taxable benefit is the way to go. Unfortunately, you have to manage the amounts yourself.

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