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How do I stop a Goal if the employee's balance is being moved to another deduction?

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1.  Stop the deduction by setting it to 0.00.

POWERpay>>Process Payroll>>Cycle Changes

2.  Zero out the Goal by setting a New Goal of “0.00”. This is not necessary but can be done to ensure there are no open amounts left on the Goal.

You can move the Loan to a New Deduction Code via 2 options.

Option 1:  

  • Set the New Goal = Old Goal with the addition of “Y-Payments” being carried over to the New Goal
Old Code Old Value New Code New Value
Old Deduction Code GFC
New Deduction Code GFCD
Old Goal $5000
New Goal $5000
Old Deduction Amount $500
New Deduction Amount $500
Old Y PAYMENTS $2000
New Y PAYMENTS $2000

Option 2:  

  • Set the New Goal as the remainder on the Loan from the Old Code:
Old Code Old Value New Code New Value
Old Deduction Code GFC
New Deduction Code GFCD
Old Goal $5000
New Goal $3000 ($5000-$2000)
Old Cycle Amount $500
New Cycle Amount $500
Old Y PAYMENTS $2000
New Y PAYMENTS $0.00

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