Create your first deduction account at 5% and set the annual limit to the dollar value (40,000) and also set the percent base to the account suffixes of the earnings accounts that make up the ceiling amount.
Once the amount 40,000 earnings has been reached the deduction account will stop deducting. You can then add the second deduction account at 7.5% – in the new calendar year you can set this second deduction to inactive.
From the reverse, you could set up two deductions accounts at the same time and leave the annual limit blank in the paycode window for the 7.5% account and set the 2.5% deduction to 1000 on Annual Limit (line 7).
Regards to All,