peachtree-software peachtree complete accounting 7.0 Quick Setup Guide
Tutorials
Getting Started Guide
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Payroll Fields
Using payroll fields, you can track 401(k) contributions, tips, employee
taxes, and employer taxes. You can even set up non-dollar amounts, like
vacation hours, to be updated each pay period.
taxes, and employer taxes. You can even set up non-dollar amounts, like
vacation hours, to be updated each pay period.
Payroll fields are holding places for any amount that must be updated by
payroll processing.
payroll processing.
Our sample company deducts Social Security, federal income tax,
Medicare, and state income taxes, all of which are calculated by
Peachtree Accounting based upon the appropriate tax table. The General
Ledger accounts affected by payroll checks are generally liability
accounts set up specifically to handle these kinds of deductions. You can
set up allowances, such as a gas allowance, that is manually entered for
an employee paycheck when applicable. Entering these kinds of
allowances here saves time and ensures that the proper account is
updated, no matter who in your office processes payroll.
Medicare, and state income taxes, all of which are calculated by
Peachtree Accounting based upon the appropriate tax table. The General
Ledger accounts affected by payroll checks are generally liability
accounts set up specifically to handle these kinds of deductions. You can
set up allowances, such as a gas allowance, that is manually entered for
an employee paycheck when applicable. Entering these kinds of
allowances here saves time and ensures that the proper account is
updated, no matter who in your office processes payroll.
If your payroll requires setting up additional payroll fields (for example,
401(k), vacation, employee tips, commission, and so on), refer to the
“Payroll” chapter of the User’s Guide. There are several examples you can
follow to set up payroll fields.
401(k), vacation, employee tips, commission, and so on), refer to the
“Payroll” chapter of the User’s Guide. There are several examples you can
follow to set up payroll fields.
Peachtree Accounting comes with tax tables for all 50 states. You tell the
program the deductions and allowances you want it to calculate, and
which table(s) you use for these calculations.
program the deductions and allowances you want it to calculate, and
which table(s) you use for these calculations.
The Memo check box is for payroll field amounts that are not posted to
your company’s books, but to the employee records (for example, meal
allowance and employee tips in the restaurant business).
your company’s books, but to the employee records (for example, meal
allowance and employee tips in the restaurant business).
Selecting the Run check box indicates that the amount in this field
should be carried forward to the next year (for example, vacation or sick
time).
should be carried forward to the next year (for example, vacation or sick
time).
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Select the EmployER Fields tab.
These fields represent the employer portion of payroll entry including
Social Security, Medicare, federal employment, and state
unemployment.
Social Security, Medicare, federal employment, and state
unemployment.
If applicable, the company paid portion of State Disability (SDI) and
401(k) matching contributions can also be set up here.
401(k) matching contributions can also be set up here.
We’re going to see how the information in the payroll fields is used,
together with the information stored in the employee file, when entering
and posting a paycheck.
together with the information stored in the employee file, when entering
and posting a paycheck.
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Press Cancel to close the window.