Liquidating or Adjusting an Employee's Contract/Reserve Pay

In Advantage HRM you can adjust an employee’s reserve pay using the smoothed method. To adjust the reserve pay, you need to access the Reserve Pay Summary (RESP) transaction. The following information needs to be provided:

1. Enter the Contract Period ID to indicate the period the reserve balance was accrued or disbursed, and the related pay category.

2. Enter the dollar value of the reserve balance accumulated in the Reserve Balance to Date Amount field. A negative amount is the amount the employee has accumulated. A positive amount indicates how much the employee owes.

This information is processed during the next pay cycle.  In order to adjust reserve pay, your site needs to have the following table entries:

This information is processed during the next pay cycle. For additional information, refer to "Viewing/Modifying Contract Pay Smoothing". 

To enter a reserve pay liquidation for the smoothed model, access the Contract Pay Summary - Smoothing Factor (CONS) transaction and select the appropriate employee.

1. Enter the Contract Period ID to indicate the period of the contract.

2. Select applicable contract liquidation processing option in Liquidate Request.

3. Enter the Liquidate Request Date on or before the pay period end date to liquidate the contract.

In order to liquidate reserve pay, your site needs to have the following table entries:

This information is processed during the next pay cycle process. For more information refer to the "Contract Pay Smoothing Model" topic.

To enter a reserve pay automatic adjustment or liquidation for the regular model, open the Reserve Pay Summary (RESP) page and select the appropriate employee.  

1. Enter the Contract Period ID to indicate the period the reserve balance was accrued or disbursed, and the related pay category.

2. Enter the dollar value of the reserve balance accumulated.  A negative amount is the amount the employee has accumulated.  A positive amount indicates how much the employee owes.

In order to adjust reserve pay, your site needs to have the following table entries:

This information is processed during the next pay cycle process.

1. Enter the Contract Period ID to indicate the period the reserve balance was accrued or disbursed, and the related pay category.

2. Select Liquidate Request to liquidate the employee's entire reserve balance.

3. Enter the date on which the employee's balance will be liquidated.

In order to adjust reserve pay, your site needs to have the following table entries:

This information is processed during the next pay cycle process. Just add line that the RESP transaction is also used to liquidate reserve pay.

Pay that has been reserved for future payout can be liquidated due to the employee being terminated. An employee can also liquidate the reserve balance to get the money up front rather than in payments. Adjustment can occur if your site converts to Advantage HRM system during a contract year and needs to post the correct reserve balances accrued.

To create a Contract Pay Summary (CONP) transaction and liquidate an employee’s Contract Pay from the Contract Management (CONM) activity folder, perform these steps:

1. Open the Contract Management (CONM) activity folder and select the desired record from the search results grid.  Select the View action for the desired record.

2. Select the Contract Pay Summary tab.  Result: The page is updated and displays a grid listing contract information associated with the specified employee.

3. Select the line in the grid that represents the contract that you want to liquidate.  Select the Modify Contract Pay Summary action from the record's row-level menu.  Result: The Contract Pay Summary (CONP) transaction is displayed.

4. Enter or revise the following information; overwrite existing data if necessary. Note:  “_*_“ denotes a required field.

5. Select Validate to make certain that your entries are correct.

6. Select Submit to record the changes to the contract pay summary.