New Allowance Element not being picked up in Calculate Payroll

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Hello. I'm hoping someone may be able to steer me in the right direction. We have a business requirement for a new Earnings Element for an allowance. I have never set up an element before, but have attempted it in our test pod. The criteria for the new element is the same as an existing element we have, so I've basically copied the setup: created the Element (subject to proration, and retro; Factor calculation rule), Values Defined by Criteria, Rate Definitions, Calculation Value Definitions, a Fast Formula (again I copied the same formula as for the other allowance element, as