PrevPrev Go to previous topic
NextNext Go to next topic
Last Post 12/01/2017 4:21 PM by  Shelley C.
Gift Cards - Imputed Income/ Gross Up?
 2 Replies
Sort:
You are not authorized to post a reply.
Author Messages
DavidV
Private
Private
Veteran Member
(240 points)
Veteran Member
Posts:100


Send Message:

--
11/17/2017 7:00 AM
    We have a need for the mass load of gift cards.   We have a few departments that are receiving gift cards and we're wondering the best way to mass load them for PR processing for tax purposes.   Would this be a form of imputed income and/or a gross up?  What is our best approach to setting this up and loading?   Any recommendations are appreciated.
    Tags: gift card, imputed income, gross up
    Margie Gyurisin
    Private
    Private
    Veteran Member
    (1287 points)
    Veteran Member
    Posts:477


    Send Message:

    --
    11/17/2017 7:13 AM
    You can upload to PR36 using add-ins.

    If it is everyone or a special group with the same amount, you could think about a standard time record for one pay.
    Shelley C.
    Lead Financial Systems Analyst
    Private
    New Member
    (3 points)
    New Member
    Posts:1


    Send Message:

    --
    12/01/2017 4:21 PM
    For active employees, we setup a non-cash pay code and a deduction cycle for only taxes, and then upload to PR80 using that pay code and deduction cycle.  PR80 then calculates the increase to taxable income for us.  Works well if you are a multiple state employer as you are using the system's tax calc engine.  We have Social Security and Medicare setup to self adjust, so FED and State taxes will create arrears on PR39 for the employee's owed taxes.  The downside is that it requires some validation -- we use a query we wrote against PAYDEDUCTN -- to validate the tax calculations.  While the PR80 upload may be successful, if the PR14 records are setup -- for example if the transaction is for an employee with a future hire date which our organization somehow still manages to send gift cards to -- you get a Earnings record but no taxes and no error or warning that it happened.  Needs some human audit / review to catch these.  For terminated employees, we never got the gross-up program to work for us, so I would love to hear if someone else did.  We manually gross these up in Excel then upload our manual gross-up calculation to PR82 to each of the applicable tax deduction codes. 
    You are not authorized to post a reply.