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Forums Human Capital Management Lawson S3 HR/Payroll/Benefits

Imputed Income

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Paula
New Member
Posts: 2
New Member
4/12/2010 7:31 PM
    Does anyone know if the imputed income that the BN150 calculates for 'group term life' should be added on the earnings side AND 'washed' out with a deduction on the other side so the employee is taxed on the excess cost of the life insurance only?
    Margie Gyurisin
    Veteran Member
    Posts: 538
    Veteran Member
    4/12/2010 7:53 PM
      You justt need to set it up as a PIK(payment in Kind), not cash income pay code. You will tie it to the pay class identified on your HR00.

      I hope that points you in the right direction.
      stephanie
      Veteran Member
      Posts: 330
      Veteran Member
      4/13/2010 11:04 AM
        Because the functionality is built into the non-cash pay calculation, you don't actually "see" the deduction washing out the amount, but if you perform a manual calculation, you'll see that the net pay is off by the amount of non-cash income. This is different than most other applications where it's easier to cross-foot that the calc is only taxing the employee.
        Paula
        New Member
        Posts: 2
        New Member
        4/21/2010 6:21 PM
          Thank you SO much! Not sure why Lawson couldn't have told me that. :)