QB 2005, anyone any advise about collection of student loan on payroll? I've managed to get the payroll item to show on the payslip and on the payroll liabilities register, but I can't seem to change the amount in the box - when I try to enter the correct deduction, it reverts back to a lower amount. any ideas?
Historians believe that in newspost on Thu, 23 Jun 2005, elmo@?.?.invalid penned the following literary masterpiece:
I use an external payroll program but why do you need to alter it from what QB is calculating?
QB, if up to date, should be calculating it correctly using the new percentage etc. that came into play for this tax year. Deductions are substantially less now, than those last year for the same salary.
Could you be calculating it wrong?
Duncan
thanks for the prompt reply - so what you're saying is QB will automatically calculate a student loan deduction ? is it based on gross pay or net pay?
this persons net pay has dropped substantially this month due to a new and ongoing monthly deduction for the CSA. I've been trying to deduct #39 a month student loan, based only on whats been deducted in then past - when in fact QB wont let me deduct more than #4 a month, pehaps QB is right. hmmmmm.
Historians believe that in newspost on Fri, 24 Jun 2005, elmo@?.?.invalid penned the following literary masterpiece:
Student loan deductions used to kick in at a threshold of £10,000. That has gone up to £15,000 and the percentage is 9%.
So if they earn £17,000, they will pay 9% of the £2000 difference i.e. £180 over the 12 months of £15 per month.
Duncan
thanks very much - that makes much more sense now cheers, elmo
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