Hi,
I have one of my employees who has to start repaying his student loan as of this payrun.
I am on Standard payroll, when I looked up how to do this it said to go into deductions, loan repayments, write the title of the loan, value/ rate.
As the calculation is 9% of the amount over the threshold, how does QB know to calculate it this way? Should there be somewhere else I am going exclusively for Student Loans?
Your help would be appreciated, I'm in a bit of a tizz with it all!!
Regards
Teresa