| FAQ 181: Allocations--Maximize age-weighted PS for Principals of a corporation |
I'm trying to run a maximum age-weighted profit sharing calculation for a corporation. I want to maximize the principal and give everybody else their fair share. What is the best way to do this?
You can do this by running the Budget routine under Calculations/Budget Routines. First, code the employees who you wish to maximize as "Principal" - "Y" on their NAME screen. Second, select Calculations/Budget Routines. Everything on this screen will be disabled except for the "OK" button. Click this button. Third, enter the amount you wish to maximize each principal at, usually 415 limit. It will then calculate, giving them the maximum, and allocating whatever is necessary to the non-principals. This information is also available on our website in our Budget documentation.