BALANCE
Balance - TOTAL REMAINING BALANCE OF A LIMITED DEDUCTION
When you originally set up a LIMITED DEDUCTION put the TOTAL AMOUNT of
the Deduction in this field. EACH TIME THE DEDUCTION IS TAKEN, the
Amount in the Rate/Amount Box is DEDUCTED from this Balance, and
from the Employee's Net Pay. The Amount in the Balance field is ALWAYS
the CURRENT REMAINING BALANCE of this Deduction.
When BALANCE REACHES ZERO, this entire Deduction line is reset to blanks.
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Examples: Type HTC Freq Rate/amt Balance
#1 D LOAN 0 3 20.00 100.00 (employee loan payments)
#2 D UA 0 0 5.00 60.00 (United Appeal contribution)
#3 D SDI 1 0 .015 328.50 (State Disability Insurance)
#1 - An employee is paying back a company loan and wants $20 per month
deducted from his pay until the balance of $100 is paid back.
#2 - Employee pledged $120 contribution to United Appeal with $5 per
week taken out of his pay. Deductions started 3 months ago, and
there is a Current Balance Remaining of $60 on his committment.
#3 - There is a State Disability Insurance Deduction of 1 1/2% of
Gross Pay up to a limit of 328.50. This is original set up.