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With the release of Microsoft Dynamics GP 2018 R2, it is possible to assign a shared Calendar Year maximum for groups of benefits and/or groups of deductions. This will be a huge benefit to your organization for employees who may contribute to two 401K plans.
In prior versions of Microsoft Dynamics GP, Calendar Year maximums can be assigned to one benefit and/or one deduction. It was not possible to set up a 'shared' maximum amount.
The Ded/Ben Shared Limit window has been added to accommodate the new Deduction and Benefit shared maximum functionality. To open the Ded/Ben Shared Limit window: On the Microsoft Dynamics GP menu point to Tools, highlight Setup, point to Payroll, and click on Ded/Ben Shared Limit:
When a deduction/benefit 'Group Code' is saved in the Ded/Ben Shared Limit Setup window: The shared yearly maximum will be applied to all employees who are assigned to those deductions.
Each Deduction/Benefit can be assigned to one Group Code.
All deductions/benefits under the 'Selected' column will be subject to the shared calendar year maximum.
If an employee is assigned only 'one' or 'some' of the deductions/benefits under the 'Selected' column, they will still be subject to the shared calendar year maximum assigned in the Ded/Ben Shared Limit Setup window.
The Calculate Payroll Checks window has been updated to accommodate the new Deduction and Benefit shared maximum functionality.
All deductions included in the pay run will show on the Build Checks report, which hasn't changed.
When the pay run is 'Calculated', and the 'Calendar Year Maximum' has been met for a group of deductions during the pay run, Microsoft Dynamics GP will:
- Try to take the full deduction amount(s) for all TSA deductions first (those deductions with more TSA's get priority)
- Next, try to take the full deduction amount(s) for sequenced deductions.
- Next, try to take the full deduction amount(s) for non-sequenced/non-TSA deductions (alphanumerically).
When the pay run is 'Calculated', and the 'Calendar Year Maximum' has been met for a group of benefits during the pay run, Microsoft Dynamics GP will:
- Try to take the full benefit amount for taxable benefits alphanumerically.
- Next, try to take the full benefit amount for non-taxable benefits alphanumerically.
For more detailed documentation on this new feature and others with the Release of Microsoft Dynamics GP 2018 R2, please check out our Microsoft Dynamics GP 2018 R2 New Feature Blog Series.
Andrea Melroe | Sr. Technical Advisor | Microsoft Dynamics GP
What happens if a deduction is part of a shared group with a limit, and a different calendar year limit is entered for that deduction on the employee card?
For example, on 401k deductions, I have a code for pre-tax traditional 401k and one for after-tax Roth 401k. I setup the shared deduction max at $19,000 (for 2019). However, for those employees who are age 50 and over (who can contribute an additional $6,000) can I set the calendar year maximum one that individual's deduction to $25,000 (for 2019, $19k + $6k)?
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