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Level 2

I have an employee that repays both to Plan 1 and Plan 2 student loan. I can only select one. How can i set this up?

 
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Best answer 04-02-2019

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Level 2

Re: I have an employee that repays both to Plan 1 and Plan 2 student loan. I can only select one....

Thank you both for the responses. 

This is for anyone else who might be facing the same problem... I have just been on the phone with the Student Loans Company (England) and they have said to choose Plan 1 in the payroll software and then they will split the payment the correct amount on their end. 

 

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4 REPLIES 4
QuickBooks Team

Re: I have an employee that repays both to Plan 1 and Plan 2 student loan. I can only select one....

Hi Anthony

 

Our payroll systems do not accommodate for repayment of two student loans for one employee.

You could use HMRC's basic tools for that particular employee.

 

Our products are evolving constantly and to assist us with your requirements, and hopefully implement them, we would be grateful if you can provide feedback from within the product.

Level 2

Re: I have an employee that repays both to Plan 1 and Plan 2 student loan. I can only select one....

Thanks John.

Do you know what would happen if i were to select just one of the plans?

I created a draft and the amount paid to the student loans company is roughly the same compared to paying into the two plans, but i assume it doesn't get split between the two  as it does now?  

QuickBooks Team

Re: I have an employee that repays both to Plan 1 and Plan 2 student loan. I can only select one....

Hello anthony-evagora,

 

Yes, the system will only work out as though the employee is paying into the single plan. The amount worked out is based on the student loan pay back regulations, and so any details on how this is worked out would need to be discussed with them.

 

Thanks,

 

Talia

Level 2

Re: I have an employee that repays both to Plan 1 and Plan 2 student loan. I can only select one....

Thank you both for the responses. 

This is for anyone else who might be facing the same problem... I have just been on the phone with the Student Loans Company (England) and they have said to choose Plan 1 in the payroll software and then they will split the payment the correct amount on their end. 

 

View solution in original post