Negative Payrolls

Negative Payroll/Transfer processing allows you to use payroll transactions to transfer funds from one account to other accounts and pay credit union fees. Funds can be transferred from a share account to other share accounts, certificates, loans, IRA withholdings, IRA disbursements and specified general ledger accounts. Like deduction payrolls, separate transfer groups should be established for different transfer frequencies and special purpose transfers. Special purpose transfers can be for Christmas clubs, vacation clubs, insurance premiums, or specified general ledger accounts. Negative payrolls are processed the same as exception payrolls, except negative payrolls do not deposit funds into credit union member accounts.

To post a negative payroll, perform the appropriate maintenance on the member's Member Payroll Maintenance dialog box. Then, complete the following steps to post the payroll using the Payroll Posting Summary window.

1. On the Payroll Posting Summary window, click the Effective Date down arrow to select the correct effective date from the pop-up calendar or enter the date in MM/DD/YYYY format. The effective date can be the current date, a future date up to four days in the future including a date across month end, Saturday or Sunday, or a holiday. The system will post and distribute the funds based on the effective date if received prior to the start of the daily cycle. The system will post the payroll based on the date specified in the Effective Date field, if the Force Post field is No and the Post field is Yes on all positive, exception, and negative payrolls.
2. Click the Post down arrow and select Yes.
3. Enter the correct amount in the Amount to Post field and click Save. The TRANSACTION COMPLETE message will appear.

When posting a negative payroll, the Control Amount field will be 0.00, the Option field will be Distributions only (D), and the Share Balance field will be Consider accumulated (A) or Post to minimum (M) if the Hold field is Hold distributions (C), Accumulate deductions (A) or Accumulate for loan pymt (L). Otherwise, the Share Balance field must be Post to minimum (M), Post to negative (N) or Post to zero (Z).

For payroll distributions to a general ledger account, the description in the Payroll Description field on the Payroll Posting Summary window will appear on the member statement. When a description exists in the Statement Message field on the Payroll Posting Summary window, and the Use Description check box is selected on the Credit Union Profile – ACH/Payroll tab, the description in the Statement Message field will appear on the member statement. If the Payroll Description and the Statement Message fields are both blank on the Payroll Posting Summary window, the description PAYROLL TRANSFER TO GL ACCOUNT will appear for the From Share account on the member statement.