Negative Good Money

[former_member342752]

Hi All,

We are getting negative good money /5PY with $ in the RT table along with UNB table with /5UT values and wagetype used in IT0014 with $ for few employees who are Non taxable and they are paid through IT0014 lumpsum with out any claims.

On analyzing  the issue, there was Master data (IT0048 Residence Status) change in the previous year Months respectively.We don’t have a clear understanding as to why the negative good money is appearing.

Please provide me your thoughts in find solutions.

regards

Arbindo

[former_member235056]

Hi Arbindo,

/5PY i.e. Good Money turns negative when you have your taxable income /3xx which is also is marked to go to /101 i.e. Gross Money turns retroactively reduced from what was actually taxed when regular IN Period payroll was run.

You will have to wait for Good Money to turn positive in subsequent runs as the amount that was originally taxed still needs to be recovered in order to avoid duplicate taxes to be calculated.

If your client still wants to have /5PY turned to positive to have taxes calculated may be because they have recovered amounts outside the system then you will need to enter claims clearing wage type with taxability similar to wage type as what has caused retroactive trigger for converting /5PY to negative along with a post tax deduction wage type both entered on IT15 to wipe and zero out /5PY in the period so taxes start to calculate from next period and onwards

Hope this is helpful to you.

Thanks,

Ameet