Help:PY1-Update Payroll Account

Update Payroll Account

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The window titled Adding a Payroll Account enables you to add a new payroll account to the Payroll Account File (PY1D01.TPS). The window titled Changing a Payroll Account enables you to edit the information for an existing payroll account in the Payroll Account File.

Payroll Account: Enter a number to identify this Payroll Account. You may use any number between 1 and 99. If you are changing information for an existing payroll account, then the number of that payroll account will automatically appear in this field. You will not be allowed to change this number for an existing Payroll Account and you also do not have the option to delete an existing Payroll Account.

Account Name: Enter he description or name of this Payroll Account. If you have more than one dependent branch, then enter that branch's name in this field to properly identify this Payroll Account.

Accrual G/L Number: Enter the general ledger account for the Accrued Wages Payable for this Payroll Account. This account is normally a liability account and must be classified as Restricted in the General Ledger Master File. To view a list of available General Ledger Accounts, press the View Button [] to the left of this field.

Bank Account: Enter the number of the Bank Account on which the paychecks for this Payroll Account will be written or drawn. The bank account must be set up in the Bank Account Manager module before it can be assigned to a Payroll Account. Press the {?} to the right of this field to open a window titled Select Bank Account which displays the available Bank Accounts. NOTE: If the desired Bank Account does not appear in this Select Bank Account window, then you must set up that bank account in the Bank Account Manager module.

Federal Tax ID: Enter your Employer's Federal Tax Identification Number (EIN) in this field. It is used when printing the W-2 Forms.

Standard Payroll Calculation Period: Press the down arrow (Ú) to the right of this field to open a drop-list which displays the six available options. Point your mouse cursor to the desired option and left-click your mouse one time to select that option as the standard payroll calculation period for this payroll account. This field will be used as the default when the paychecks are calculated.

Overtime Factor: Enter the factor by which the regular hours are multiplied to give the Overtime Rate. This is usually 1.50. This field is used as the default when the paychecks are calculated.

Basis: Enter the number of hours which are considered Regular Pay. Any regular hours over this amount will be subject to the Overtime Rate calculation. This field is used as the default when the paychecks are calculated.

User Selected Fields: There are special User-Defined Deduction reports which can be run during the actual Print Checks Process and on the Reports pull-down menu. These User-Defined reports can contain up to 5 different deductions. These next fields provide the configuration for these reports.

Deduction #1 - Deduction #5: Enter the number of the deduction(s) you wish to appear on the User-Defined Deduction Reports. Deduction Numbers 1 through 99 are Tax Deductions. Please note that the IBS system already includes reports for the standard gross pay and tax deductions (Gross Pay, Federal, FICA, Medicare, and State; therefore, you would not use these User Defined Deduction fields in this Payroll Account File for those Deductions #1-5. Generally these User Defined Deduction fields would be used to print reports on any of your user-definable deductions, which includes Tax Deductions #7-99 and Miscellaneous Deductions #100-9999.

Description: Enter the description that you wish to appear in the User-Defined report heading for the selected deduction. Please note that the description for the selected Deduction Number (as found in the Standard Deductions File) will automatically appear in this window. You may edit this description if you so desire.

[ Add ] This button will appear if you pressed the [Insert] button on the previous window titled Payroll Account Maintenance. Press this button to add this new payroll account to the Payroll Account File.

[ Save ] This button will appear if you pressed the [Change] button on the previous window titled Payroll Account Maintenance. Press this button to save any changes made to the selected payroll account in the Payroll Account File.

[ Cancel ] Press this button to close this window and return to the previous window. NOTE: If you make any changes in this window and then press the [Cancel] button to ignore those changes, then another window titled Save Record will open which asks "Do you want to save the changes to this record?". For additional information, please see Save Record.

[ Help ] Press this button (if available) or the F1 key to view the Help text for this window.