From Version 19.50, Variable Deductions can now be included and disbursed as part of your FAST-Bank™* File. Simply add a new Deduction (or edit an existing Deduction) and add the banking details in the Employees profile, it’s that easy!
What is a Variable Deduction?
A Variable Deduction is a Deduction Pay Type which has a different defined value for each employee, where the Variable Deduction Amounts from Employees checkbox selected in the Pay Type setup and an amount is defined within the Employee profile. Variable Deductions can either be used for repayments that have no maximum repayment amount set (for example Child Support) or an amount they must repay (such as a loan) which repayment cease after completion.
How do I add a new Variable Deduction?
Please follow How do I add a new Variable Deduction Pay Type?
How do I assign a Variable Deduction Pay Type to an Employee, define the value and/or bank details?
Please follow Where do I add a new Variable Deduction for my Employee?
How do I edit an existing Deduction within an Employee to add bank details from Version 19.50?
Please follow How do I edit an existing Variable Deduction record within an Employee to add bank details so the amount can be disbursed as part of my FAST-Bank™ File?
Are there any new reports or changes to existing reports available to show this disbursement?
Yes, a new report has been added entitled Variable Deductions and the Pay Disbursements (FAST-Bank™) report has been updated to cater to the new requirements;