The Track Balance feature on Pay Items is used to automatically remove them from an employee's pay once the Current Balance has reached '0'. Using Track Balance will automatically adjust the final deduction/payment to ensure the balance isn't exceeded.
The track balance feature will only work on Pay Items that have been added into an Employee's Default Pay Tab with the current balance correctly set. The Current Balance will be displayed on employee payslips, within each pay, on the default pay tab, and can be reported on via Insights.
Some Pay Items can be tracked by either Total or Quantity.
Total - The total dollar value to be tracked.
Quantity - The overall quantity of units (Hours or 'Other') to be applied into pays.
The initial current balance required may change based on which Pay Item is being tracked.
The Track Balance setting on an Earnings pay item can be used for paying back a set amount owed to an employee across a number of pays. You can either track by Total or Quantity for any Regular Earnings or Other Earnings pay items. Bonus & Discretionary pay items will only track by Total.
Learn more about setting up custom Earnings in our Pay Items - Earnings support article.
Default Pay Tab - Once the pay item has been set up as needed, a Current Balance will be required once it's included in the Default Pay. For an Earnings pay item, the current balance is set as a negative figure to reflect an outstanding cost to the business. For example, to pay out a total of $1500 enter the current balance as '-1500'.
Draft Pay - For every pay run that the employee is included in, you will see the Current Balance update and the amount owing reduce as the pay item continues to be applied.
Track balance on reimbursement pay items works in much the same way as the Earnings Pay Item above.
Learn more on setting up a custom reimbursement in our Pay Items - Reimbursements support article.
Default Pay Tab - Once the added to an employee's Default Pay tab set the Current Balance to be paid out. The total will need to be entered as a negative figure. To pay out $180 for example, enter the Current Balance as '-180'.
Draft Pay - The Current Balance will continue to reduce as the pay item is applied in the employee's pays.
Using Track Balance on a deduction is perfect for an employee loan repayment where you have an overall monetary balance needing to be repaid.
Learn more on creating a custom deduction in our Pay Items - Deductions support article.
Default Pay Tab - Once the deduction pay item has been set up as needed, a Current Balance is required. For example, to deduct a total of $1340, enter the current balance as '1340'.
Draft Pay - The Current Balance will reduce to '0' as the deductions are made from the employee's pay.