The Payroll module manages all aspects of your payroll. Provides gross wage computation, calculates all necessary taxes, determines voluntary deductions, prints a payroll check for the employee, and accumulates necessary totals for monthly, quarterly, and annual government and management reporting, including magnetic media reporting.
- Total descriptions for compensation and deduction types rather than codes. Built-in federal, state, and local tax tables.
- Definition of W-2 information during the setup procedures. Data tracked: salary amounts, hourly rates, rates for tax calculations, voluntary deductions and cafeteria plan choices, unemployment and worker’s compensation rates. Allowance for taxable & non-taxable compensation.
- Any combination of pay cycles.
- Compensation entered by annual or periodic rates; uneven splits handled by rounding difference in the first check of the year.
- Management of non-taxable wages such as annuities. Recording of non-cash compensation, such as life insurance over $50,000. Records management: time card labels, time card worksheets. Provision for vacation and sick hours allowed and remaining.
- Earnings allocations to multiple general ledger accounts for each employee.
- Provision for automatic bank deposit for individuals using Direct Deposit or Automated Clearing House methods.
- Integrates with General Ledger.
- Multiple calendar years on line.
- Streamlines paycheck production with extensive data and tables stored.
- Provides employees with real-life payment situations - salary, wages, bonuses.
- Assures employees that earnings are both accurate and secure.
- Allows tax tables to be easily updated by user as changes occur.
- Provides check reprinting capability before Payroll and General Ledger are updated.