FAQ 492: Allocations--Adjust for make up contribution


An employer discovered they had submitted an incorrect salary for 2007. We have the corrected contribution, which needs to be posted to the benefit of one individual. How do I need to post this entry so that it is included in the 3-31-08 allocation, but not picked up in the 2008 contribution totals?


You should either add it to the 1/1/08 prior balance or enter it as a transfer in as of 1/1/08.