After updating to The Financial Edge 7.87, all percentage of gross pay deductions are calculating incorrectly.
Download and install the latest patch, which contains all fixes from previous patches. If you are running an older version, download and install the latest version and then the patch.
This is due to an update in the system that added the ability to include other deductions in the calculation of the gross pay. Employees default to having all deductions included in this calculation, which will need to be changed.
This can be changed through the following steps:
1. Open the employee record and go to the Compensation/Deductions tab. 2. Open the deduction and change Deductions from "All" to "None" in the "Include these pays and benefits in percentage of gross:" section. NOTE: If this is already set to None for both, the Save and Close will still refresh the Deduction. 3. Save and close the deduction. 4. Save and close the employee record.
1. Go to Payroll Processing and Open Create Group Assignments. 2. Select "Assign new records to employees." 3. Select Deduction from the "Assign New" drop down. 4. Select the appropriate Deduction ID and click Edit Deduction. 5. Go to the Restrictions tab and ensure Deductions is set to "None" on the "Include these pays and benefits in percentage of gross:" section. NOTE: If this is already set to None for both, the Save and Close will still refresh the Deduction. 6. Save and Close the deduction record. 7. Set the Effective date to the current pay period end date. 8. Select the current deduction from the "Expire this deduction:" drop down and select an effective end date as a day prior to the current pay period end date. *Optional - Select "Currently have the record assigned" checkbox to only show employees that currently have this deduction. 9. Go to the Assignment Grid tab and enter the appropriate amounts for each employee. 10. Click Process Now.