Understanding Repayment Deductions
This topic discusses:
Delivered repayment deductions.
Delivered supporting elements.
User fields.
Process lists and sections.
Viewing delivered elements.
In this table, the first column combines the name and description of the delivered repayment deductions for the U.S. The other columns indicate the calculation rule components, such as Unit, Rate, Percent, and Amount, and the pre-process and post-process formulas for each deduction.
|
Name/Descr. |
Unit |
Rate |
Base |
% |
Amount |
Pre- and Post- Process Formula |
|---|---|---|---|---|---|---|
|
LOAN Company Loan |
NA |
NA |
NA |
NA |
Payee level |
Post-LNS FM PYMTS |
|
LOAN AD PYMT Company Loan Amount |
NA |
NA |
NA |
NA |
Payee level |
Post-LNS FM ADD PYMT |
Note: These deductions are defined as PS Delivered/Not Maintained. This means that you can use them as delivered, modify them, or replace them with new elements.
LOAN
The LOAN deduction has a calculation rule of Amount and is used to calculate regularly scheduled loan payments. Define the amount, the loan repayment schedule, and other information related to the loan at the payee level on the Request Repayments USA page.
LOAN AD PYMT
The LOAN AD PYMT deduction has a calculation rule of Amount and is for additional, one-time payments that a loan recipient may choose to make outside of the standard repayment schedule. Define the amount, the payment date, and other information related to the additional loan payment at the payee level on the Request Repayments USA page.
Note: The deduction LOAN AD PYMT is referred to as a non-payroll repayment. Although it is processed by the payroll system, it does not reduce the amount of net pay (it is not included in the standard gross to net calculation); instead, it directly reduces the repayment balance.
This table lists the key supporting elements used to define the delivered repayment deductions:
|
Element Type |
Element Name |
Used By |
Where Used |
|---|---|---|---|
|
Variable |
LNS VR ID |
LOAN This variable is a user field on the LOAN and LOAN AD PYMT deductions. It enables the system to track each loan assignment separately. |
Request Repayments USA page. You define the value of the repayment ID (LNS VR ID) when you assign repayments to payees on the Request Repayments USA page. |
|
Variable |
LNS VR GOAL AMT |
LOAN This variable contains the total amount of the loan (goal amount). |
Request Repayments USA page. You define the goal amount (LNS VR GOAL AMT) on the Request Repayments USA page in the Total Amount field. |
|
Variable |
LNS VR BALANCE |
LOAN and LOAN AD PYMT This variable contains the difference between the goal amount and amount paid to date. |
|
|
Formula |
LNS FM PYMTS |
LOAN This post-process formula performs limit processing for the LOAN deduction. |
|
|
Formula |
LNS FM ADD PYMTS |
LOAN AD PYMT This post-process formula performs limit testing and generates a warning message if an additional payment exceeds the goal amount. |
Both LOAN and LOAN AD PYMT are defined with a single user field—LNS VR ID. This field ensures that each loan assigned to a payee is unique. Additionally, all LOAN-related accumulators have this variable as a user key.
The LOAN and LOAN AD PYMT deductions are members of the LOANS process section.
The LOANS section is included in the USA STD PAYROLL process list.
The PeopleSoft system delivers a query that you can run to view the names of all delivered elements designed for the U.S. Instructions for running the query are provided in the PeopleSoft Global Payroll product documentation.