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.
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 - email@example.com.
For more info, see About PlatinumPay.