Balloon Payment Processing in PeopleSoft
Purpose: Use this document as a reference for how to create Balloon Payment Calendars, attach them to employee jobs and run the process in Payroll in ctcLink.
Audience: Payroll Administrators, HR Administrators
Navigation: Main Menu > Set Up HCM > CTC Custom > Balloon Payment ID Table
- Navigate to the page and, if this is the first time entering a Balloon Calendar for a college , click Add a New Value.
- When adding a new value, enter the Company code (college code) and click Add
- Otherwise, search by Company code (college code)
- Every ID set is unique to the Company so every school will have their own Balloon Payment IDs
- Enter an Effective Date for the ID table
- If you need to add more Balloon Payment IDs in the future, the user will have to add a new effective dated row
- Enter a Balloon Payment ID
- Follow the ID naming criteria established by your school
- It can only be 2 characters, alpha or numeric (e.g. 01, 5B, FF)
- Enter a Description for the Balloon Payment ID
- This will describe your calendar to the HR Admin who assigns them to employees
- It is 30 characters long so the description should be very short
- Enter a Schedule for the Balloon Payment ID
- This must correspond with the payroll period desired for processing (e.g. 01A, 01B, 02A, etc.)
- It only has to be indicated once for use in the future, a calendar created in 2017 will be good for every year following
- Enter a Salary Multiplier for the Balloon Payment ID
- This will represent the amount of the salary the employee will receive in addition to their regular salary
- For a multiplier of 5, if an employee gets $1000 per pay period, they would get on the indicated payroll period $1000 + $5000 = $6000.
Navigation: Main Menu > Workforce Administration > Job Information > Job Data
- Look up the employee that needs to have a Balloon Payment Calendar attached to their Job.
- Select the correct Empl Record to attach the calendar to.
- Add a row to the Job Data with the correct Effective Date and Action/Action Reason.
- Data Change is recommended if this is not being added to a Hire record
- Navigate to the CTC Job Data tab.
- Click the lookup next to Balloon Payment ID on the page.
- Select the correct Balloon Payment ID for that employee.
- Save the row in Job Data.
Navigation: Main Menu > Payroll for North America > CTC Custom > CTC Processes > Load Balloon Payments
- This process can be run any time after paysheets have been generated for a given payroll.
- Typically it would be expected that this would be run with the other custom CTC Processes as needed
- Navigate to the Load Balloon Payments page, and create a Run Control ID by clicking Add a New Value if this is the first time coming to this page as a user. Otherwise, hit Search to access the existing Run Control.
- Enter the Company (College) code.
- Enter the Pay Period End Date.
- Enter the Balloon Payment ID.
- Upon selection of the Balloon Payment ID, the Schedule and Salary Multiplier will fill themselves in for informational purposes
- The Pay Period End Date must match the Schedule indicated through the Balloon Payment ID or the process will not run.
- Click Run and OK.
- Examine the Process Monitor until the process CTC_BPAY_AE indicates the Run Status of Success and Distribution Status of Posted.
- At this time, the log from the process is available for validation in conjunction with Payroll data, by clicking the Details link next to the process Distribution Status.