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P060 Adjustments OSPS Year-end Mini Conference

P060 Adjustments OSPS Year-end Mini Conference. Use P060 to Adjust:. Taxes (Agency Requests; OSPS Enters) Adjustments due to November or December double-calc in two tax years Outstanding balances under $10 Hours worked outside of Oregon PERS (Agency Enters) Retirement Program Changes

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P060 Adjustments OSPS Year-end Mini Conference

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  1. P060 AdjustmentsOSPS Year-end Mini Conference

  2. Use P060 to Adjust: • Taxes(Agency Requests; OSPS Enters) • Adjustments due to November or December double-calc in two tax years • Outstanding balances under $10 • Hours worked outside of Oregon • PERS(Agency Enters) • Retirement Program Changes • Subject Wage • Employee Contribution • Employer Contribution

  3. TaxesAdjustments for Double-Calcs • Use P050 and P070 to reverse double-calc • Check P370. If the WBF, FIT, or SIT taxes don’t match the original double-calc you’re reversing, you’ll need a P060 adjustment. • Send detail to Kathyron Parsons • Do the math • Request adjustment • Tell her which pay period to use • Briefly summarize why you need an adjustment

  4. TaxesBalances Under $10 • OSPS can adjust FIT or SIT for employees with an outstanding balance (positive OR negative) that is under $10 • Check P090 FIT or SIT – must have something there in order to adjust • Reports: • Net Pay Negative Report • Separated Employees with Net Pay Positive Adj • Datamart Query: OSPS_DED table • Pull: Employee Num, Ee Dedn Amt • Filter by: Pay Period End, Nmbr Iss (=> 02), Dedn Type (9999), Ee Dedn Amt (-10,10), Dedn Desc (“NET PAY ADJ”) * Does not catch employees with only one set, but catches majority of incidences NOTE: November’s check threshold is one dollar

  5. TaxesHours Worked Outside of Oregon

  6. PERS • Can only correct current tax year through OSPA • Entry Guide: PERS, Wage and Contribution Adjustments • Work with PERS Centralized Service Team representative • Possible changes include: • Retirement Program (F, G, P, S, T) • Subject Wage (RSE) • Employee Contribution (RSP) • Employer Contribution (RSM) NOTE: Agency enters PERS adjustments on P060

  7. What Questions do You Have? When you come to the end of your rope, tie a knot and hang on. ~Franklin D. Roosevelt

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