FAQ 492: Allocations--Adjust for make up contribution

Problem: 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?

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