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Description
The Payroll module manages all aspects of your payroll. It 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.
Features and Benefits
- 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
- Minister designations allow 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
Requirements
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