Example: Create a Health Savings Account Total Pay Accumulation (USA)
As a final step in calculating Health Savings Account (HSA) costs, create an HSA Total pay accumulation for use in payroll processing.
- Create HSA deductions.
- Security:Set Up: Payroll (Calculations - Payroll Specific)domain in the Core Payroll functional area.
- Access theCreate Pay Accumulationtask.
- Enter these settings:
Option Description NameHealth Savings Account Total Contributions: EE + ERCodeHSA-EE-ER - Enter these settings on theAdd and Subtract Calculationstab:
Option Description DeductionsHealth Savings Account (HSA) - Enter these settings on theCalculate/Display Exceptionstab:
Option Description OptionCalculate and display only if specified Earning/Deduction exists
The pay accumulation is available for payroll processing upon the effective date.
Before payroll processing, update the HSA deductions you created and add the
Health Savings Account Total Contributions: EE + ER
pay accumulation to define the deductions' limits. See Concept: Earning and Deduction Limits.