FAQ 767: Prevailing Wage or Davis Bacon-- offset to profit sharing

Problem: How can I offset the profit sharing contribution by the Davis Bacon contribution or sometimes also referenced as Prevailing Wage?

Solution: There is really no quick way to do this as an offset to source 2 in ASC. You can run the calculation and then manually reduce the contribution. If it is a large plan, you could use a formula in the Grid to reduce the profit sharing contributions by the Davis Bacon contributions - assuming that the Davis Bacon contributions are a set percent of comp. Assuming your setup is Source 2 as profit sharing and Source 5 as the Davis Bacon source, instead of using a formula via the grid, you may want to try the following scenario: Create a transaction for the source 5 Davis Bacon money using, Calculations - Transactions - Convert Stored Values to Transactions, convert only this source 5 contribution. Next go to Calculations - Transactions - Global Edit and change the source number on this transaction to source 2. After editing the source number, go to Calculations - Transactions and UNPROCESS the specific transaction. You will need to check the "Override Processing Status" option. Once this is processed, you should note via a grid that the profit sharing accounts have been offset by the Davis Bacon contributions.