FAQ 763: Pattern Plan Update


We were new to using ASC in 2014 (for PY 2014). We are now setting up new plans for 2015. Do we need to first run the "Update for new period" on our Pattern Plans?


You will need to open the pattern plan like any other plan and make edits OR you can run the Calculations-Update to New Period, on THE PATTERN PLAN but be very careful. The update will update your Beginning and Valuation Dates as well as the BENLIMIT screen Dollar Limit and COMPDEF screen compensation limit. It will not change the Effective Date.

The update will work fine as long as the pattern plan is setup correctly with the dates and equivalent limits for that year. For example 2014 plan dates would show BENLIMIT=52K and COMPDEF=260K the update will change these figures from 2014 to 2015, 52K to 53K and 260K to 265K respectively.

What you will need to remember is that the patterns reside on the DEF Pattern Plan Disk. So when you do File-Open plan, highlight the DEF pattern plan disk, then click on the "Show Plans" and select the pattern plan. Make the changes like a normal case, then save it.

Then when you create a new plan (be sure to change disks back), it should pull from this new pattern. Try it and let us know if you need more help.