Company match deduction creation for Fixed match calculation
The schedule would look like this:
Percent | Match percent | Amount |
---|---|---|
0-4 | 50.00* | $500.00 |
5-10 | 25.00* | $1,000.00 |
* This field can be defined as 50% or 5% depending upon the Calculation Type on the deduction in Deduction (PR05.1). See How do I Define Benefit Contributions?.
The deduction is created in Employee Deduction (PR14.1) as shown here:
Niki contributes 3%, which is within the first range on the schedule (between 0% and 4%). The company match deduction is created as shown in this table:
Amount or percent | Balance type | Balance |
---|---|---|
50.00 | D | $500.00 |
Mike contributes 7%, which is within the second range on the schedule (between 5% and 10%). The company match deduction is created as shown in this table:
Amount or percent | Bal. type | Balance |
---|---|---|
25.00 | D | $1,000.00 |