in Blog, CompenSafe, Software Updates by Kelley Mangel

CompenSafe Update – February 2016

IMPORTANT! Negative Net Pay Saved as Draw for Recapture
  • Any negative net pay on the CompenSafe payroll transaction file will now be saved as a draw record to be recaptured on a future pay date. CompenSafe will take 1 of 3 actions for handling negative net pay:
  1. If due to a preexisting draw balance, CompenSafe will automatically move the amount back to the draw. Otherwise,
  2. If result of manual adjustments, CompenSafe will create an offsetting transaction record to balance out the net pay then will create a new draw balance record using the same adjustment type. Or,
  3. If result of an automated transaction, such as an allocation or override, CompenSafe will create an offsetting transaction record to balance out the net pay then will create a new draw balance record using either Negative Net Pay Bonus Adjustment OR Negative Net Pay Commission Adjustment.
NEW! Payroll Customization Features
  • Regional Managers Payroll Adjustments: Add payroll adjustments to regional managers or regional vice presidents, the same as you do for other employees.
  • ‘Loan Purpose’ Option for Override Schedules: Designate the loan purpose(s) of loans to include in overrides.
CompenSafe_override_schedules
  1. From the CompenSafe Menu, Click Overrides.
  2. From the Override Schedule Overview page, click the override you wish to edit.
  3. Click Include tab.
  4. Click Loan Purpose checkbox then select purpose type in the text box.
  5. Click Save and Done.
Updated! Redesigned Employee Details
  • New and improved employee details page for company directory.
CompenSafe-employee-directory
NEW! Reports
  • Positive Net Pay with Draw Balances:The new report lists employees with carry-over balances who have positive pay amounts available for recapture. To access this report,
  1. From the CompenSafe menu, click Reports.
  2. From the Report Directory page, click Audi category.
  3. Click Positive Net Pay with Draw Balances.
  • Negative Net Pay Amounts for Payroll: This new report lists employees with negative pay amounts that will be converted to recoverable draws upon Push The Button (PTB). To access the Negative Net Pay Amounts for Payroll report,
  1. From the CompenSafe menu, click Reports.
  2. From the Report Directory page, click Audit category.
  3. Click Negative Net Pay Amounts for Payroll.

Not using CompenSafe? Request a live demo to learn more about our automated loan origination compensation calculation and LO dashboard software.

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