Payday Filing Returns for Negative Adjustments

Description

Previously, if the only transaction in a pay batch was a negative adjustment, FastTrack360 did not create a corresponding Payday Return for the pay batch. That is because negative amounts cannot be reported via Payday Filing so any negative adjustments to a payee’s earnings must be made manually via the IRD myIR portal.

Now, if the total result of processing a pay batch is a negative amount, FastTrack360 will create a Payday Return and will replace any negative values with zero values so that the Payday Return can still be submitted for the corresponding filing period. The Payday Filing submission report for the Return will report the actual negative values so the necessary negative adjustments can be applied manually in myIR.

Benefits

This enhancement allows you to file a Payday Return where the only amounts to report are negative adjustments and by doing so, a Payday Filing submission report is generated so that you can identify the relevant values that need to be adjusted manually via myIR.

Configuration

Bo configuration required.