MDGP 2013 Feature of the Day: FICA Tax Sheltered Annunity Changes
Microsoft are posting the Microsoft Dynamics GP 2013 Feature of the Day series on the Inside Microsoft Dynamics GP Blog.
The eighty third feature they’ve announced is FICA Tax Sheltered Annunity Changes.
The TSA Sheltered from FICA Tax option has been changed to two separate options; FICA Social Security and FICA Medicare to allow each deduction to be exempt separately. In the Deduction Setup and the Employee Deduction Maintenance windows, the two check boxes replace the one Sheltered from FICA Tax check box.
This change will not affect deduction sequences or computer check processing. Depending on the selection in the TSA Sheltered from option prior to upgrading, the system will process the deductions in the same manner as it did for FICA Tax.
This new feature is targeted at the following roles:
- Payroll Administrator
- Payroll Manager