Setting up a cycle to work scheme in Flexipay
Introduction
It is possible to set up a cycle to work scheme within Flexipay. This article shows you how.
Setting up a cycle to work scheme in Flexipay
There are two parts to this - creating a loan, and making the deductions salary sacrifice.
Use the quick relationship tool to create a loan relationship for this. To do this, go to System > Maintain elements of pay > Quick relationship tool.
Choose "Loan" as the type of relationship to create.
Click next, then give the fields some suitable names, similar to the below.
Click next, then choose the display view and the position for the outstanding balance field.
Click next, then do the same with the repayment field (this is the field for the amount the employees will be repaying in the current pay period).
Click next, then do the same with the standard repayment field (this is field for the standard amount the employees will be repaying each pay period).
Click OK to accept the settings.
That's the loan created. Now to make the deductions salary sacrifice.
Go to System > Maintain elements of pay > Maintain relationships. Click the Deduction tab. You will have your cycle to work repayment deduction listed here, likely at the bottom of the list.
Double click the cycle to work repayment deduction here and make a note of the fields it uses.
Delete this relationship by selecting it and clicking the delete button.
Now click the "Deduction from gross" tab and add a new relationship here. Click "Yes" on the confirmation prompt.
Fill in the period value field and the standard value field as they were filled in on the deduction relationship you deleted. Tick the tick boxes as appropriate. Set the deduction type to be "Other salary sacrifice".
Click OK when you have done this to add the new deduction from gross relationship.
That's your cycle to work scheme set up. You can now enter an outstanding amount and a standard repayment amount, and Flexipay will keep deducting it until the outstanding balance is zero. If you have the pay cycle already open when you add these details in for an employee, you will need to restart the cycle for the employee before Flexipay will start deducting the amount.
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