Create Student Loan and Postgraduate Loan Elements

Before you create a Court Orders and Student Loans calculation card, you must create the student loan or postgraduate loan elements.

• Student Loan or Postgraduate Loan Element

• Indirect Elements

• Fast Formulas

• Element Eligibility

Create Student Loan or Postgraduate Loan Element

Here's how you can create a student loan or a postgraduate loan element:

1. Select the Elements task from the Payroll work area.

2. Select Create Element.

3. One the create element screen, select the relevant legislative data group.

4. Select the primary classification Involuntary Deductions.

5. Select the secondary classification Student Loan or Postgraduate Loan, whichever applies.

   Note: The category is automatically set to Involuntary Deductions.

6. Click Continue.

7. Enter the required information and answer all the questions in the associated element template.

8. Click Next.

9. Review the information, and click Submit to create the element.

10. Select the Elements task to view the student loan or postgraduate loan element you created.

Indirect Elements

When you save an involuntary deductions element, the task creates these indirect elements.

• Initialize and Processor: Internal elements that ensure the relevant links and results for the student loan or postgraduate loan are created

• Deduction Results: Deduction amount calculation by the payroll process

• Arrears Results: Arrears amounts that carry over unpaid amounts

Fast Formulas

When you create student loan or postgraduate loan element using the element template, it ensure the relevant fast formulas are attached to your elements during the creation process.

Note: Don't edit these fast formulas or the result values. They are updated periodically to meet statutory and legislative requirements.

Element Eligibility

You must create the element eligibility for the student loan or postgraduate loan elements create under Court Orders and Student Loans. To attach elements to employees, you must set the eligibility for them. When you use the Calculation Card task to create the Court Orders and Student Loans card, it automatically creates the related elements.

Note: When creating the eligibility record, you can use the Input Values tab to set the value for the tax reporting unit (TRU) for this element as default. You can override this value at the time of allocating the element to the employee, if required.

Here's how you can create the element eligibility for <Name> Adjustment:

1. Select Payroll.

2. Select the Elements task from the Payroll work area.

3. Search for and select the student loan or postgraduate loan element you created.

4. Select the relevant Adjustment element or Arrears element that was automatically created.

5. In the Element Overview pane, select the folder Element Eligibility.

6. Click Actions.

7. Select Create Element Eligibility.

8. Enter a unique name for the eligibility record.

9. Select the relevant payroll statutory unit.

10. Select the relationship type from the list of values.

11. Click Submit.