Updating Savings Bond Purchases

Bonds are not purchased for an employee until at least one sequence is defined. Defining Savings Bond Purchase Sequence

Run the Savings Bond Update (BN140) report to determine an employee's account balance for the purchase of savings bonds. It is recommended that you run Savings Bond Update (BN140) after each payroll is closed with Payroll Close (PR197). The payroll close looks at each bond plan participant's contribution deductions, and adds them to the participant's account balance. Once the balance is updated, Savings Bond Update (BN140) looks at the participant's balance and determines if there is enough money to purchase a bond.

The report is sorted by savings bond plan and employee. For each employee, the report shows the bonds purchased, the bond owner, the owner's address, and the owner's social number. If a co-owner and beneficiary have been assigned, their names, addresses, and social numbers also list. BN140 uses the employee's or dependent's current address from Employee (HR11.1) and Dependent (HR13.1) unless the address has been overridden in Savings Bond Beneficiaries (BN48.1).

To update savings bond purchase