Escrow Payoff from Other Pay

• The Escrow Payoff amount is calculated based on the escrow balance from all Finalized payrolls, but the amount can be changed if necessary.
  • Select the desired Escrow Year for the Payoff.

INSTALLMENT PAYOUT VS. ESCROW PAYOFF

When an employee has Escrow deductions taken from their check, it is normally paid back during the Installment Payout Periods that are set up in Pay Group setup.

• Installment Payout is handled automatically when payroll is calculated for those periods. You do not need to enter anything in Other Pay to generate the Installment Payouts and set the codes correctly for the A.PR file.

The Escrow Payoff option from Other Pay is only used when:

1. An employee gets an early payout, usually due to termination of employment. This is considered an Escrow Payoff for the A.PR files.
2. An employee needs to get 100% of their Installment Pay in the first Installment month instead of spreading it out. This is sometimes done for retirees and is considered Installment Pay for the A.PR files.