Peoplesoft Interview Questions...

Q. 1 . PS Components having access to CI?
Ans :
CAN_WCB_CU_RATES
COMP_LOCAL_TAX_TBL
CO_UI_RPTCD_TABLE
CO_UI_RPTCD_TBL
FLSA_CALENDAR
GDED_COM_TABLE
GDED_COM_TBL
GENL_DEDUCTION_TBL
PAY_RUN_TABLE
RETROPAY_PGM_TBL
SPCL_EARNS_TABLE
TAX_LOCATION_TBL
TAX_TYPE_TABLE
TAX_TYPE_TBL
TERM_ACTN_REASON
TERM_ACTN_RSN
TERM_PGM_TABLE
TERM_PGM_TBL
TIPS_ESTAB_TABLE
TIPS_ESTAB_TBL
TREATY_NR_ALIEN_TA
US_SOC_TABLE
US_SOC_TBL

Q.2. Is it possible that Payroll tax tables are missing some of “localities”, even though they r provided by peoplesoft?
Ans . Yes, Should you need a locality that PeopleSoft does not yet support, you can add and maintain entries using the tax pages, at your responsibility.

Q.3. The pages for Federal/State Tax, Taxable Gross Definition, and Canadian Tax tables reference more than one table.

Q.4. PeopleSoft-maintained tables for U.S. employers?
Ans:
Federal/State Tax and Local Tax tables,
State and Local Tax Reciprocity tables,
Taxable Gross Definition table – differentiates between above 2 J
SWT Marital Status table - valid tax marital status codes for each state

Q.5. Employer-Maintained U.S. Tax Tables?
Ans:
Tax Location table
Company State Tax and Company Local Tax tables
Tax Reporting Parameters table

Q.6. PS maintained Canadian Tax tables?
Ans : Canadian Tax tables :)

Q. 7. Employer maintained Canadian Tax tables?
Ans :
Canadian Wage Loss Plan table
Canadian Company Tax table
Canadian Tax Reporting Parameters table

Q. 8 . Which component has Federal/State Tax Table?
Ans : STATE_TAX_TABLE ... yeah !! what else !!

Q.9. significance of Federal/State Tax Table component?
Ans :- view the tax data PeopleSoft Payroll for North America uses to calculate U.S. federal, state, and certain local taxes
- Identify the general type of withholding tax calculation employed by each jurisdiction and provide all the constants needed by the calculation routines for income tax withholding and unemployment and disability taxes
- Contain the wage bracket tax rate data used by the taxing authorities for implementing graduated taxes
- the rates for calculating federal withholding, FICA, and federal unemployment are defined on this table

Q. 10 . Navigation of Federal/State Tax Table?
Ans : Set Up HRMS, Product Related, Payroll for North America, Federal/State Taxes, Tax Table

Q. 11. Can u for Jesus’ sake list out the Pages and their usage in Federal/State Tax Table component?
Ans :

-General - View standard deductions, allowance amounts, and supplemental rates.
-Special Tax Amounts - View information needed for tax calculations. The page for the Federal Tax Table differs from the one for specific states.
-Rates - View wage bracket information.
-Additional Rates - View wage limits for unemployment and disability taxes.
-Federal/State Tax Report - Run TAX702 to print information from the State Tax Table and the State Other Tax Table, which store the most current tax rates and other parameters used in calculating state and federal withholding, disability, and unemployment taxes.
-State Tax Rate Report - Generate TAX707 that lists information from the State Tax Rate Table, which contains bracket rates needed for calculating state and federal taxes.

Q. 12. Can anybody change data available in Federal/State Taxes -Tax Table - General page?
Ans : Yes, Provided that he has the appropriate security authorization.

Q. 13. What is State Tax Calculation Type ?
Ans : Indicates the type of withholding tax calculation required by the state

Q. 14. What is FWT Credit ?
Ans : This check box indicates whether credit is given for FWT during calculation of state income tax withholding.

Q. 15. Non-Resident Declaration Required ?
Ans : This check box indicates whether the state requires a Non-Resident Declaration for non-resident employees.

Q. 16. What is “Allow Withholding Reduction”?
Ans : This check box indicates whether the state allows a reduction amount to be computed in the state withholding calculation.

Q. 17. Is “Allow Withholding Reduction” applicable to all U.S. cities?
Ans : No, Currently, this only applies to Connecticut.

Q. 18. What is “FICA Credit” check box?
Ans : This check box indicates whether credit is given for FICA during calculation of state income tax withholding.

Q. 19. Okay!! What the heck is FICA credit score, any relation to FIFA???
Ans :
FICA credit score is a 3-digit numerical index which represents an estimate of an individual’s financial credit worthiness.

It is based on a subset of the information in an individual’s credit report, typically from the three major American credit bureaus:
Equifax, Experian, and TransUnion.

Creditors or lenders, such as banks and credit card companies, primarily use FICA credit scores to determine credit limits and interest rates every time when you apply for new credit card, mortgage, auto loan, personal credit line or any other credit issues by the bank.

A credit score can be broken down into 5 components, some carry more weight than the others.

Payment History – 35%
Total Amounts Owed – 30%
Length of Credit History – 15%
New Credit – 10%
Type of Credit in Use – 10%

Since the bulk of your credit score comes from your payment history and the amount you owe, it’s important to keep a healthy balance and ensure that you always make your payment on time.
Source : ficacreditscore.net

*** FICA taxes are different from credit score.

Q. 20.Please cite the fields in “Supplemental Method” portion of the same page.
Ans :
- Paid With Regular Wages
- Separate Payment

Q. 21. What are the selections delivered by PeopleSoft in “Supplemental Method” fields .
Ans : Aggregate − No Annualize, Aggregate, Aggregate-No Tax else Percent, Non-Resident Supplemental, Not Applicable, Percent of Taxable Gross, Special Table with Exemptions, and Special Table.

Q. 22. Do we need to take care if the data being dealt with is of Arizona state?
Ans : Yes, For Arizona, the system uses Percent of FWT method, even though the value shown in this field is Percent of Taxable Gross.

Q. 23. What fields are available on Viewing Special Tax Amounts page?
Ans :
Delay Withholding for Tips
Employee Detail Required
Report Neg Wages
Special Tax Amount
Special Tax Amount 5
State Statutory Minimum Hourly
State Tips W/H Threshold
Tax Reporting
Use Common PayMaster for SUI

Q. 24. Significance of Special Tax Amount field?
Ans : This field is used to store parameters or values used in withholding tax calculations for the selected state or federal jurisdiction.

Q. 25. Significance of “Special Tax Amount 5” field?
Ans : When the selected state is Federal ($U), the amount displayed is the amount that the system adds to the annualized wages of the nonresident alien (NRA) solely for purposes of NRA tax withholding calculation. This amount does not add to the employee’s federal taxable gross balance.

Q.26. Significance of “State Statutory Minimum Hourly” field?
Ans : The system uses this field to calculate tip credit to pay overtime for tipped employees. The minimum hourly rate required by that state appears here.

Q.27. Significance of “Report Neg Wages” field?
Ans : Options are include or separate

Q.28 $U????Can you please elaborate on it?
Ans : These are special state codes for Localities Using Graduated Tax Tables

Q.29. Significance of “State Tips W/H Threshold” field?
Ans : This field is used in conjunction with state regulations for delaying the withholding of taxes on tips until the employee reports monthly tips in the amount equal to the threshold amount. This field displays the monthly threshold amount from the federal regulations and as of now all states use that threshold amount.
For states that allow you to delay withholding on tips, you can specify by Pay Group whether you delay withholding on tips.

Q. 30. Significance of “Tax Reporting” field?
Ans : Options include Annual, Monthly, or Quarterly.

Q. 31. Significance of “Delay Withholding for Tips” field?
Ans : On this page, this check box refers to state income tax.
For each state, PeopleSoft selects or clears this check box, depending on whether the state allows employers to delay withholding on tip income until the monthly threshold amount is reached. For states that allow you to delay withholding on tips, you can specify by Pay Group whether you'll delay withholding on tips.

Q. 32. Significance of “Employee Detail Required” field?
Ans : This field is informational only and indicates whether a state requires the quarterly reporting of individual employee wage data. All states currently require such reporting

Q. 33. Significance of “Use Common PayMaster for SUI” field?
Ans : This check box is selected if the state recognizes common paymaster status between companies for purposes of state unemployment insurance taxes.