I am looking for help on what I need to change in payroll for the qualified tax exemptions on overtime. The notes in the Visual Payroll Year end update were not helpful.
When you pay the overtime, it is still taxed, the employees are able to claim the premium for OT as a credit on their tax return. There was a program PR123 that you run that will load the premium to the PR11 per employee. That is what will post to the W2 and employees use for their taxes.
So how do I get PR123 and what is PR11? Still confused with what I need to change in payroll. Do I add more earning codes? When I load the exported hours from Visual into Payroll, the ot hours automatically show up in a different column.
We have 11 EINs that we process payroll under, the program can report the OT premium amount to the PR11 per employee under the home Process Level but did not post to the W2 unless said home process level was one of the 11 head process level, so my work around was - run the PR123 by processing group to get the data added - then I queried and saved the data. I then run the PR127 for the e1 topic to delete the records, and reloaded the data thru excel add in to the RE process level vs home. the most recent ctp for the PR123 is supposed to fix the reporting entity issue but we were already getting ready to produce our w2s and didnt want to spend more time testing.
I am still confused.
Rosemary - open a Case with Infor. This is a known bug that is not allowing us to pick the Head/Independent process level in PR123. They are working on a fix. Mention this:
RN-8824789
