Help:PY1-Calculate Paychecks
This window titled Calculate Paychecks displays certain pre-set information at the top of the window which is informational only. It also enables you to set the current settings for the paychecks you are about to calculate and print.
FICA Rate/Maximum FICA Earnings/Medicare Rate/Medicare Earnings Limit: These rates and limits are automatically pulled from the Standard Rates File and are displayed in this window for information only. If any of these rates or limits are incorrect, then you must make the appropriate corrections through the Standard Rates option on the File Pull-Down Menu in the Payroll Manager module.
Federal Tax Effective Date/Federal Personal Exemption: These are informational fields only which are intended to let the user know whether their Federal Tax File is current. If the information in either of these fields appears to be incorrect, then please contact Technical Support immediately so they can tell you what must be done to update your payroll system.
Overtime Factor/Overtime Basis: The Overtime Factor & Overtime Basis are automatically pulled from the Payroll Account file and are displayed in this window for information only. If either of these fields are incorrect, then you must make the appropriate corrections through the Payroll Accounts option on the File Pull-Down Menu in the Payroll Manager module.
Payroll Ending Date: Enter the date that this payroll period ends. This is recorded in the Paycheck History File and is printed on the paycheck stub. NOTE: Press the [?] to the right of this field to activate a pop-up calendar which can be used to select the date. Once a date has been selected, the up/down arrows to the right of this field can be used to move the date up or down one day at a time.
Paycheck Date: This is the date on which the paycheck is to be issued. This date, by federal tax law, determines the year in which this pay is to appear on the W-2. The Posting Month and Year are also automatically taken from this date. Checks are always kept on a calendar year basis. The earnings represented in the gross pay elements of the paycheck are accrued to the proper posting month and year based upon the actual Work Date of each payroll entry. NOTE: Press the [?] to the right of this field to activate a pop-up calendar which can be used to select the date. Once a date has been selected, the up/down arrows to the right of this field can be used to move the date up or down one day at a time.
Payroll Calculation Period: Enter the appropriate payroll calculation period. This will affect the calculation of the taxes only. Please note that the system will automatically default to the Payroll Calculation Period as defined in the Payroll Account File for this Payroll Account; however, you may override this default if necessary. Press the down-arrow (Ú ) to the right of this field to open a drop-list which displays the available options. Point your mouse cursor to the desired option and left-click your mouse one time to select that option. The current calculation periods which are recognized by the IBS Payroll program are as follows:
W - Weekly This will base the tax calculation on 52 checks per year.
B - Bi-Weekly This will base the tax calculation on 26 checks per year.
S - Semi-Monthly This will base the tax calculation on 24 checks per year.
M - Monthly This will base the tax calculation on 12 checks per year.
A - Annual This will base the tax calculation on 1 check per year.
D - Daily This will base the tax calculation on 260 checks per year.
Deduction Week: Enter the deduction week for these checks. This function affects those automatic deductions which have been set up in the Employee Master File on the Deductions window as to be deducted on a specific payroll week only (Week 1-5). If all of these automatic deductions are set to "0" for all weeks, then this deduction week field is irrelevant.
Check Sort Order: This field selects the initial sort order in which the checks will be displayed and printed. Point your mouse cursor to the desired sort order option and left-click your mouse one time to select that option, as explained below. Please note that this sort order can be changed on the View/Print Paychecks window.
Sort-Locator Select this option to display/print these checks by Sort-Locator.
Department Select this option to display/print these checks by Department.
Employee Number Select this option to display/print these checks by Employee Number.
[ Begin ] Press this button to calculate the paychecks.
[ Cancel ] Press this button to close this window and return to the previous window without calculating the paychecks.
Database Entries Read/Checks Calculated: These are informational fields only. You cannot edit the information in this fields.
[ Help ] Press this button (if available) or the F1 key to view the Help text for this window.
