Core payroll tables are the tables that are required to implement the Payroll for North America application,
including organization tables, compensation and earnings tables, deduction tables, pay calendar tables,
garnishment tables, vendor tables, general ledger interface, tax tables, retroactive processing, and tip
allocation.
Employee pay data includes personal data, job data, benefits data, federal, state/provincial, and local tax
information, general and benefit deductions, additional pay, garnishments, savings bonds, and direct deposits.
The basic steps of payroll processing are: create paysheets, pay calculation, pay confirmation, and generate
checks and direct deposits. You can employ audit reports and data review pages to verify and correct the
results of each step before moving on. You can also review and adjust employee balances.
Enterprise One General Ledger to transfer the expenses and liabilities incurred from a pay run to the General Ledger application.
PeopleSoft Enterprise Payables to transmit tax data to the Payables application for
automatic payment to tax authorities.
integration with Payables to transmit employee and employer deductions such as garnishments and
benefit deductions to the Payables application for automatic payment to third parties.
The Load Paysheet Transactions process loads transactions from sources other than PeopleSoft
applications to paysheets for processing. Such transactions require a paysheet update source of Other Sources.
PeopleSoft Setup Manager enables you to generate a list of setup tasks.The setup tasks include the components that you must set up, listed in the order in which you must enter data into the component tables
Payroll for North America also provides component interfaces to help you load data from your existing
system into Payroll for North America tables.
The components that have component interfaces:
`
PAY_RUN_TABLE - Setting Up Pay Calendars - Creating Pay Run IDs.
GENL_DEDUCTION_TBL - Defining General Deductions
GDED_COM_TABLE - Defining Deductions - Assigning General Deductions to a Company
TAX_LOCATION_TBL - Setting Up CompanyTax Tables for North America.
COMP_LOCAL_TAX_TBL - Setting Up CompanyTax Tables for North America.
SPCL_EARNS_TABLE - Establishing Special Accumulator Codes
TERM_ACTN_REASON - Setting Up the Payroll Process, Defining the Final Check Process
TERM_PGM_TABLE - Setting Up the
FLSA_CALENDAR - Creating Pay Calendars and FLSA Calendars.
TAX_TYPE_TABLE - Setting Up Tax Types for PeopleSoft Enterprise Payables Integration.
CO_UI_RPTCD_TABLE - Setting Up Payroll Tax Tables, (USA) Establishing UI Report Codes
TREATY_NR_ALIEN_TA - Understanding TaxTreaties.
US_SOC_TABLE - Establishing Standard Occupational Classifications.
CAN_WCB_CU_RATES - DefiningCanadian WCB AssessmentReporting,
RETROPAY_PGM_TBL - Setting Up RetroPay Processing
TIPS_ESTAB_TBL - Setting Up the Payroll System for Tip Allocation
Tax tables store tax information that the system requires to calculate and report taxes.
The pages for Federal/State Tax, Taxable Gross Definition, and Canadian Tax tables reference more
than one table.
These are the PeopleSoft-maintained tables for U.S. employers:
• Federal/State Tax and Local Tax tables,(STATE_TAX_TABLE). which contain rates and other constants
• State and Local Tax Reciprocity tables
• Taxable Gross Definition table, which identifies differences between states or localities and the federal
government in the definition of taxable wages.
PeopleSoft delivers sample taxable gross component IDs for Group Term Life (GTL), Section 125 (125),
domestic partner benefits (DPB), Health Savings Accounts (HSA), and Health Savings Account employer
contributions (HSR).
• SWT Marital Status table, which defines the valid tax marital status codes for each state.
U.S. employers must set up and maintain the following tables:
• Tax Location table, which contains the work locations for which you process payroll and taxes.
• Company State Tax and Company Local Tax tables, which store tax identification numbers,
unemployment and disability experience rates, and general ledger codes for the states and localities for
which your company collects and pays taxes.
• Tax Reporting Parameters table, which controls the execution of many of your quarterly and annual tax
reports and specifies data needed for magnetic media filing.
Pennsylvania Local Services Tax ?
On the Federal/State Tax Table - Additional Rates page, the Tax Class LS Tax represents the Local Services
Tax (LST) for Pennsylvania employees. The total LST paid by any individual in a calendar year is limited to
52 USD, regardless of the number of political subdivisions in which the individual works during the year.
Certain LST processing requirements relate to the combined LST rate for municipalities and school districts.
These entries have the letter "C" in position 8 of the Locality Code.For example, the locality code O430212C
It is deducted as a lump sum from the employee's first paycheck of the year in the taxing jurisdiction. If the LST is levied at a combined rate exceeding 10 USD annually, the tax is divided equally across the number of pay periods in the employee's pay frequency. When calculating prorated pay period deductions, employers are required to round down to the nearest cent.
The state-level Pennsylvania LST Memo tax record keeps track of how much Pennsylvania LST an employee
has paid for the year.
If you need to set up Local Tax Data records for multiple LS Tax jurisdictions for an employee in order to
clear Payroll Error 92 ("Local Tax Not Found: The local tax record for the locality cannot be found for this
employee."), then you can limit the employee to one active LST by setting all but one of the employee's Local
Tax Data records for LST to the Special Tax Status of "Do Not Maintain Taxable Gross and Do Not Withhold
Tax".
Showing posts with label interview. Show all posts
Showing posts with label interview. Show all posts
Friday, March 26, 2010
Thursday, March 25, 2010
Peoplesoft - more
1. What is PIA and what are its components?
It is n-tier architecture. We have client, web server, application server and Database server. We have jolt and tuxedo. We have WSL, WSH, JSL, JSH, QUEUES and services.
In database server we have system tables, peopletools tables and application tables.
2. Differentiate Field edit and Save edit?
In Field edit for each field change, a transition to the application server to the database is taken place. In Save edit for all the fields, only one transition to the application server to the Database is taken place.
3. What are think time functions?
Think-time functions suspend processing either until the user has taken some action (such as clicking a button in a message box), or until an external process has run to completion.
4. In which events error & warning are used most extensively.
Field edit, Save edit, Search save, row delete, row insert.
5. Is there any way by which you can find out whether the user is in Add mode or Update mode?
%mode---returns A---for Add mode. Returns U –for Update mode
6. What is the purpose of the SQLEXEC function? What are its benefits and draw backs?
SQLEXEC is used to execute the sql statements (select, insert,update,delete).
We can get only one row at a time.
7. How is the searchinit event most often used by people soft application?
A) Searchinit fires before the search dialogue page is displayed to the end user.For this reason searchinit is often used to enhance roll level security by inserting and graying out certain values to the search dialogue page.
8. What are the options for using SQL in people code?
a) Sqlexec
b) Record class methods (selectbykey, delete, insert, update)
c) Using sql class, its properties and methods.
9. What is the difference between component buffer and data buffer?
Component buffer contains all the data of the active component.
Data buffer contains the data other than the data in the component buffer (Data of other records)
10. What databuffer classes are available in people code?
Rowset, Row, Record, Field, Array, File, Sql, chart, grid and so on.
11. When we select a component what events will be fired?
If default mode for component is search mode: only searchinit will fired .If default mode for component is new mode :field default, field formula, rowinit, searchinit.
12. What are different variables in people code and their Scope?
System variables and User defined variables.
Scope --- Global, Component, Local.
13. What is default processing?
In default processing, any blank fields in the component are set to their default value. You can specify the default value either in the Record Field Properties, or in FieldDefault PeopleCode
14. What is difference between field default and Row init?
Field default specifies only the default value for a field when we are in Add mode.
Row init fires only when a row of data coming from database to component buffer.
15. What is difference between saveprechange and savepostchange? Which function directly interacts with the database?
Saveprechange---last event that executes before updating the data from component buffer to the database.
Savepostchange –fires after the updation of data in the database.
SQLEXEC --- function directly interacts with the database.
16. What is Getlevel 0()? What is the use of %subrec and %selectall functions?
Getlevel0 ()---used the get the rowset of the level0.
%subrec--is used only in Dynamic View SQL where it expands to the columns of a subrecord:
%selectall--%SelectAll is shorthand for selecting all fields in the specified record, wrapping date/time fields with %DateOut, %TimeOut.
17. What is an array in people code? What is maximum dimension of an array? Which function inserts values into an array? What is “pop”?
An array is a collection of data storage locations, each of which holds the same type of data.
The maximum depth of a PeopleCode array is 15 dimensions.
Push and unshift are the functions of the array used to add the elements into the array one from the end of the array and one from the beginning.
Pop is a function of array used to select and delete an element from the end of the array.
18. What is difference between Getrowset and Createrowset in people code?
Getrowset –is used to get rowset for a record in the component buffer.
Createrowset—is used to create rowset for a record which in database, and is also called a Standalone rowset
19. Can you save the component programmatically?
Using Dosave and Dosavenow functions.
20. What is differed processing and its advantages?
Postpones some user actions to reduce the number of trips to the database so that increases the performance (in system edits, field edit, and field change).
Advantages:
1) Reduces the network traffic.
2) Increases the performance.
33. Write the syntax to access third level record field using object oriented peoplecode?
&fld=Getlevel0 ()(1).GetRowset(Record.
GetRowset (Record.
GetRowset (Record.
GetRecord (Record.
21. What are the built-functions used to control translate values dynamically?
Adddropdownitem ()
Deletedropdownitem ()
22. How to populate data into grid in online?
&Rs.Select or Scrollselect ().
SECURITY
Before accessing a people soft application what levels of security must be passed through.
a) Field level security
b) Row level security
c) Maintain security
d) Definition security
e) Portal security.
23.What is the use of primary permission list in user profile?
Primary permission list is used for mass change and definition security purposes.
How to authorize the user to run a process or report?
To authorize a user to run a process, the process group, which contains the process or report, should be added to the permission list of that user.
24.How to give access to the records that are to be used in a query?
To give access to the records that are to be used in query, we have create a new query security tree and add the records which we want to give the access and then assign a access group to the tree. After that we have to add that query tree and query access group to the permission list.
25.What are the rules used by the system to determine whether a user is authorized to update an object?
The user should have the permission to update the object. This is given by the Definition security. The group, which holds the object, should be added to the permission list of the user in update mode.
What are the different ways we can set up the portal security to access component in portal?
1) Structure & content
2) Menu import
3) Register component
Business Object
Why do you need to create multiple repositories?
Ans: If the organization is globally spread out and the users access the repository from different locations, then the physical distance can delay the response to
the query of the user. To avoid this organizations create multiple repositories across the world, and all the repositories are synchronized on regular basis.
What is the Business ObjectsMain.key?
Ans: • Business ObjectsMain.key contains the address of the repository security domain.
• All the users can communicate with other domains in the Repository.
• It is created at the same time as the Security domain.
• BoMain.key defines connection to a repository
• The physical location of the file can be created either in:
ShData folder : default shared folder on the network
LocData folder : for each user to have a local copy.
What is Scope Management?
Ans: Scope management (Tools?Options?Security Policy) is a SUPERVISOR option, which allows you to control the extent of the access that all supervisors are granted to users and user groups.
Standard Mode: This setting provides simple supervisor functionality (i.e., no restricted or extended powers). Supervisors will have access only to the users within their own groups.
Secured Mode (Default Setting): It prevents supervisors from delegating to other users the resources that do not belong to them.
Extended Mode: allows group supervisor’s access to users outside their own group(s) so that they can add or remove users to their own groups.
What are the rules for assigning privileges to users?
• A user is always assigned to at least one group; the first group is always the root group.
• A user can belong to one or more groups.
• Every user, or every user group, inherits the rights of its direct ascendants.
• Within a group, all users have the default privileges of the group.
• Within a group, a user may be entitled to special privileges in addition to those arising merely from his or her adherence to the group.
• The rights assigned to descendants have precedence over those assigned to ascendants.
• Every group is unique within the hierarchy.
What is the difference between removing and deleting a user?
Ans: When you remove a user from a group, the user is not removed from other groups to which he or she was assigned. If the user belongs to only one group, then you must delete the user. Deleting a user in SUPERVISOR will permanently delete the user from the database.
What is Script?
Ans: A script is a set of commands, written in VBA, that is used to automate tasks. Scripts are created and executed by end users from BUSINESSOBJECTS. End users can store scripts as files with an .spt extension, or can export them to the document domain of the repository. Scripts are automatically assigned to the root group.
What is a Channel?
Ans: A channel is a Web site that uses “push” technology, also known as Webcasting, to keep subscribers abreast of up-to-date information.
What is a Category?
Ans: A category is a keyword or phrase end-users can assign to documents when they send them to users, groups, or BROADCAST AGENT.
Monday, January 18, 2010
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.
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.
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