Overview:
Use the Voluntary Other Compensation window to assign a Other Compensation to an employee. During payroll processing, PENTA automatically applies these assigned Other Compensations based on individual Other Compensation parameters. Information from the Master Other Compensations window defaults when you assign Other Compensations to employees; however, you can override the defaults as appropriate for individual employees.
Other Compensation is typically used in Penta for one of the following:
- Non-cash earnings (employee use of company vehicle) or
- Employee expense associated with employee or spouse life insurance policies.
Benefits:
- Use to automate your weekly, bi-weekly, and monthly payroll processes
- Can be utilized to add non cash and non union benefits to an employees check on a regular basis
- Utilizes a one time assignment of a Master Other Compensation record to an employee
Roles:
- Accounting Manager
- CFO
- Payroll Manager
- Payroll Clerk
Location:
- Payroll> Employee> Voluntary Other Compensation Assignment
Video: