Why would I receive the error "There are no year-to-date values for medical aid (4005) or medical aid tax credits (4116), but there are previous values for 'Entitled Medical Tax Credits'." when doing a Medical Tax Credit Reversal?
This applies to all PaySpace editions.
The warning message "There are no year-to-date values for medical aid (4005) or medical aid tax credits (4116), but there are previous values for 'Entitled Medical Tax Credits'. Please adjust the entitled tax credits to zero by making use of the 'Medical Tax Credit Adjustment' component." will display if all of the following conditions are met.
- Year-to-date 4116 + 4120 = 0.
- Medical aid year-to-date 4005 = 0.
- Previous year-to-date 4116 + 4120 is greater than 0.
- Previous medical aid year-to-date 4005 is greater than 0.
- Year-to-date entitled MTC and AMTC is greater than 0.
The message will display as a warning for users to ensure that they are aware that when making a year-to-date correction or reversal for Medical Aid Contributions and the utilised MTC/AMTC, but there are still year-to-date values on the MTC/AMTC components present, that they can make the necessary manual reversal for these values.