Auto memos are used to record and/or calculate an amount based on the check figure that does not affect the employees' pay.
Here's an example for a 401(k) employer match.
- In PlatinumPay, click Employee Setup.
- Enter the Employee Number.
- Switch to the Auto Memos tab.
- Click +Add.
- In the Memo # dropdown, select 401(k) Match.
- In the Memo Calc. dropdown, select ER 401k Match or whatever the calculation type is.
- In the Memo Amt field, type the amount (such as 10 for 10%).
- Memo Scheduling gives you the option to select how the memo should be added.
- First Check Only = if the employee gets a second check, the loan will only come off the first check
- All Div. = it applies to all divisions (should be checked in most cases)
- All Scheduled Payrolls = it gets deducted each regular payroll
- Period = 1st payroll of the month, 2nd payroll of the month, etc. - Save.
If you would like the memo to appear on the paystub, let us know. Sample paystub showing deductions and memos:
If the memo you need is not on the list, we can add it.
We encourage you to reach out whenever you are unsure of something or have a question - cs@brandspaycheck.com.
See also: Set up auto deductions and Set up auto pays.
For more info, see About PlatinumPay.