Earned Income Credit Entry

This Distribution Entry screen displays when Distribution Code K is selected on the Distribution Master Selection screen.

Earned Income Credit Entry screen

Description

Enter a Description for this Tax Credit.

Employer Expense

Enter the Employer Expense (debit) G/L Account Number to which this tax should be posted, or click the prompt to select from a list.

Accounts Payable

Vendor Number

Enter a valid Vendor Number or click the prompt to select from a list. If the Vendor Master record is in a different Company/Division than the Distribution record, make the Company/Division selections (below) prior to selecting this Vendor Number.

Company/Division Number

Accept the Company/Division used at login or, if the Vendor Master record is in a different Company/Division, click the Division Number prompt to make new selections from a list. The Company/Division Numbers are used for Inter-company transactions at the detail level.

The Vendor and Company/Division entries will allow a deduction, or benefit, to automatically build an open Accounts Payable transaction.

The following processing occurs during Payroll Update

1. These transactions will update the Accounts Payable batch file with a batch number of 88888.

2. The Liability Account will be used to post the tax liability during Payroll Update. When the batch entries are updated in Accounts Payable, a debit entry will be posted to this account and a credit entry will be posted to the Accounts Payable control account.

3. All of the transactions will be summarized according to Vendor Number/G/L Account Numbers to create one invoice per Vendor.

Note: The invoices will be created during Payroll Update if the Vendor Number is currently set up and is non-zero. The Vendor Number cannot be added to the Vendor Master during this procedure.

	Click to process these entries and return to the Distribution Master Selection screen.
	Click to return to the Main Menu without saving changes.
	Click to return to the Distribution Master Selection screen without saving changes.