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The student loan process requires the ability to override student loan rates and percentages at transactional level. Furthermore, for student loan catch-up repayments, IRD provide a principal amount that an employee has to repay at a set percentage rate. Pay processing has to reduce the principal amount each pay correctly until it is zero and then cease repayments.
If a deduction has Calculation method = "L. Student loan", the transaction form contains a Percentage field and the Rate field is disabled.
The value that you enter in the student loan transaction Percentage field overrides the value in the Deduction | Details (ii) tab | Amount or rate field, and the standard 12% student loan rate.
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Topic: 37424
