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- If the Medicare is fully board paid (referred to as Medicare Pickup), then the following adjustment will need to be created:
- Go to Core>Adjustments.
- Click Create.
- Enter the Employee, Payroll Item 692, Type of Board's Pickup Amount of Payroll Item, a Transaction Date, Amount equaling Enter the calculated Medicare amount of the board pickup , and a Description for future reference.
- Click Save.
Example-
$100.00 (life insurance) x .029 (.0145 x 2) = $2.90
$2.90 Board's Life Insurance Payment Withholding for 692
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90 board payment
$1.45 Is the amount of the Board Pickup Amount of the Payroll Item and $1.45 is the Board Amount of Payroll item withholding. So the following records need to be created:
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