I am trying to set an upper limit for a % calculation that re-sets each payday. Currently the only choices for re-setting the limit is Annual, Monthly, or One Time Limit.
Being that QB allows payroll to be calculated on many different types of pay periods, i.e. Weekly, Bi-Weekly, Semi-Monthly, Monthly, Annually, and several others, wouldn't it make sense to allow upper limits for each of these time periods?
For example, I use a Bi-Weekly pay period. I need to make a deduction (and a contribution) of a maximum of 5% of en employee's regular wages in a pay period. When using a % item, it does not discriminate the types of earnings it calculates on. It calculates on all earnings types. I need it to calculate only on regular wages. The only way I can do that is to set an upper limit $ amount to 5% of regular full-time wages, but it has to re-set every bi-weekly pay period.
By doing this, it will limit the 5% calculation from calculating on overtime. I am not able to prevent that happening in a pay period if I only have three choices of what type of upper limit to set.
Some might argue that I should just pre-calculate the 5% amount and populate the employee's payroll record with the flat $ amount. Except that doesn't work well because even though an employee has a regular wage/salary, they often will take unpaid time off in a pay period and that is not predictable. There is also the OT scenario outlined above. Without the capability of setting an upper limit per pay period, this item will have to be manually calculated and entered for each employee each pay period, which is a tedious and time-consuming process.
If there's another way to accomplish this, I would love to hear it. Otherwise, is this something you can build into the program, Intuit? It doesn't seem like it would be a stretch, considering there are already three others there . . .
