Recurring adjustments are used particularly for loans and allowances. To set-up recurring adjustments, follow these steps:
- Go to Employee tab > Upload Adjustments.
2. Click Download Excel Template.
3. Fill out the following depending on the required information:
- Column C: Adjustment Type (*Required field) - Select the adjustment type from the dropdown (e.g. salary adjustment or reimbursable allowance).
- Column D: Adjustment Name (*Required field) - Input the name for this adjustment.
- Column E: Adjustment Code (*Required field) - Input a unique adjustment code.
- Column F: Adjustment Date (*Required field) - Input the 1st date of the cutoff period.
- Column G: Adjustment Amount - Input the adjustment amount. This will also serve as your monthly amortization.
- Column H: Remarks - Input remarks, if any.
- Columns I & J: Apply Before Tax and Is Taxable (*Required fields) - If taxable, select "Yes" for both. If non-taxable, select "No" for both.
- Column K: Maximum Amount - This is used for recurring adjustments. This means the adjustment will stop when it reaches the maximum amount inputted. If it’s intended for allowance just leave it blank.
- Column L: Amount will be divided per period (*Required field) - Selecting "Yes" will split the total Adjustment Amount (column G) into two. Selecting "No" will require you to input an answer in Column M.
- Column M: Apply Period - (*Required if "No" is selected in Column L) - Input "1" or "2" to indicate which period the amount will be assigned to. If you selected "Yes" in Column L, you can leave this blank.
- Column N: Date Issued - Refers to the check’s issued date for new loan. For existing adjustments, just copy Adjustment Date.
- Column O: Principal Amount - Refers to the approved loan amount for new loan. For existing loan, just copy maximum amount.
- Column P: Payroll Type - This will serve as reference if you intend to include adjustment on Normal Payroll/Final Pay/Special Run, Adjustment payroll and Reimbursement payroll.
4. Then upload the saved file by clicking Import File.
Now you’ve learned how to set up the recurring adjustments. If you have questions or suggestions, do not hesitate to get in touch with us at firstname.lastname@example.org.
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