9.2 Balloon Payment Processing in PeopleSoft

Purpose: Use this document as a reference for creating Balloon Payment Calendars, attaching them to employee jobs, and running the process in Payroll in ctcLink.

Audience: Payroll Administrators, HR Administrators.

Balloon Payment Process in PeopleSoft

Create a Balloon Payment Calendar

Navigation:  NavBar > Navigator > Set Up HCM > CTC Custom > Balloon Payment ID Table

  1. The Balloon Payment ID Table search page displays.
  2. There are two options on this page:
    1. Find an Existing Value - if a balloon calendar already exists for a college, you can enter the Company name (college name) and select the Search button.
    2. Add a New Value - if this is the first time entering a balloon calendar for a college, you can enter the Company Code (college code) and select the Add button.
      • If you do not know the correct Company Code, you may select the look-up tool (magnifying glass icon) to find it.
      • Every ID set is unique to the company so every school will have their own Balloon Payment IDs.
  3. Enter the Company Code.
  4. Select the Search button.
  1. The Balloon Payment ID Table page displays.
  2. Enter an Effective Date for the ID table.
    • If you need to add more Balloon Payment IDs in the future, you will have to add a new effective dated row
  3. 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)
  4. Enter a Description for the Balloon Payment ID.
    • This will describe your calendar to the HR Admin who assigns them to employees
    • You are only allowed 30 characters, so keep your description short
  5. 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
  6. Enter a Salary Multiplier for the Balloon Payment ID.
    • This will represent the salary amount the employee will receive in addition to their regular salary. For example, if an employee earns $1000 per pay period and you enter a multiple of 5, the employee's actual payment would be $6000 ($1000 + $5000).
Balloon Payment ID Detail Entry
  1. The process to create a balloon payment calendar is now complete.
Attach a Balloon Payment Calendar to an Employee

Navigation:  NavBar > Navigator > Workforce Administration > Job Information > Job Data

  1. The Job Data search page displays.
  2. Enter the desired information into the Empl ID field.
  3. If prompted, select the correct Empl Record to attach the calendar to.
  1. The Job Data page displays.
  2. From the Work Location tab, select the Add a Row (+) button.
  1. The new row displays.
  2. Enter the desired information into the Effective Date field.
    • The system defaults to the current date, but you may choose to change it. Changing the date is recommended if this balloon payment is not being added to a hire record
  3. Select the Action list and choose the desired item from the drop-down menu.
  4. Select the Reason list and choose the desired item from the drop-down menu.

 

  1. Select the CTC Job Data tab.
  2. The CTC Job Data page displays.
  3. Enter the desired information into the Balloon Payment ID field.
    • If you do not know the correct ID, you may use the look-up tool (magnifying glass icon) to find it.
  4. Select the Save button.
  1. A warning message displays.
  2. Review and select the OK button.
Warning Box
  1. The process to attach a balloon payment calendar to an employee is now complete.
Loading Balloon Payments in Payroll

This process can be run any time after paysheets have been generated for a given payroll. This would typically be run with the other custom CTC processes, as needed.

Navigation:  NavBar > Navigator > Payroll for North America > CTC Custom > CTC Processes > Load Balloon Payments

  1. The Load Balloon Payments run control search page displays.
  2. Select the Add a New Value tab.
  3. Enter the desired information into the Run Control ID field.
  4. Select the Add button.
Add a New Value Tab
  1. Enter the desired information into the Company (College) field.
  2. Enter the desired information into the Pay Period End Date field.

The Pay Period End Date must match the Schedule indicated through the Balloon Payment ID or the process will not run.

  1. Enter the desired information into the Balloon Payment ID field.
    • Upon selection of the Balloon Payment ID, the Schedule and Salary Multiplier fields auto-fill for informational purposes.
  2. Select the Run button.
Process Request Parameters Page
  1. The Process Scheduler Request page is displayed.
  2. Select the OK button.
Process Scheduler Request Page
  1. The Load Balloon Payments page displays.
  2. Make note of the Process Instance number.
  3. Select the Process Monitor link.
Process Instance Number
  1. The Process Monitor page displays.
  2. From the Process List tab, select the Refresh button.
    • You may have to select this button until the Run Status is Success. The process is finished when once this occurs.
  3. If desired, select the Details link next to the process Distribution Status. This allows you to view the process log for validation in conjunction with payroll data.
  1. You have successfully run balloon payment processing.
  2. End of Procedure.

0 Comments

Add your comment

E-Mail me when someone replies to this comment