Reckon One - Student loan

G. Daniels
G. Daniels Member Posts: 33 ✭
edited December 2022 in Reckon One

Hi guys. We've got an employee that wants to pay for his student loan. We are using the reckon one version. We don't know how to do it. Please help.

Comments

  • Kris_Williams
    Kris_Williams Member Posts: 2,669 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited December 2022

    If you are referring to his HECS debt it’s in the employee tax tab, tick the box for Subject to Study and Training support loans STSL. It is based on their income, but if the employer wants to pay more to repay the debt you can add extra tax.

  • GerryWinter
    GerryWinter Accredited Partner Posts: 1,024 Personal Range Expert Personal Range Expert

    Are you using Reckon One or Hosted?

    Gerry 0418907140 

    [email protected]

  • Kris_Williams
    Kris_Williams Member Posts: 2,669 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert

    Reckon One Gerry, she actually stated that, I hope my answer was correct, so I am happy if you can confirm

  • G. Daniels
    G. Daniels Member Posts: 33 ✭

    Thanks guys. Yes I am using Reckon One. So if I tick the box for STSL, I don't need to do anything anymore?

  • Kris_Williams
    Kris_Williams Member Posts: 2,669 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited December 2022

    Technically you don’t, but depending on how much he earns no extra tax maybe deducted. I would check the tax and see if it is now taking extra, otherwise he may want you to deduct extra manually, that can easily be setup as well

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