Payroll

In this section of the Easy Setup Assistant, you'll enter information about the payroll taxes your company pays, the current payroll year, and the accounts you want to use to track payroll information about your employees.

If you do not plan to process payroll from AccountEdge, you can skip this section.

Payroll Updates  

Payroll taxes are amounts calculated and deducted from employee paychecks according to the rules established by federal, state/provincial, and local government taxation authorities.

In AccountEdge, these calculation rules are stored in a tax table file that you need to load directly into your company file.

If you would like to receive payroll tax updates as they change during the year, you should add the Payroll service to your AccountEdge subscription. 

Payroll Year

In this step of the assistant, you will enter your current payroll year. Your payroll year is always 12 months long, running from January to December.

Since your payroll year is always January through December, you may have a few months in which your Fiscal Year and Payroll Year differ in AccountEdge.

Payroll Information

Use this window to enter general information that AccountEdge requires to process payroll for your employees. You will be able to define how many hours make up a typical work week. You can also add your Federal Tax ID, Federal Unemployment Tax Rate, and select your state/provincial tax.

Linked Accounts

In this step, select the default accounts to be used for your payroll transactions.

Payroll Categories

Use this window to review your payroll categories. Wage categories include hourly and salary payments that you make, such as salary, bonus, salesperson commission, vacation pay, sick pay, and overtime.

Some other forms of payment, such as employee benefits, are also considered wages for tax purposes and are referred to as non-cash wages. Non-cash wages are forms of payment not actually distributed in cash by an employer but included in an employee's gross pay, so they are subject to deductions and withholdings. Company car benefits, excess life insurance, and incentive travel costs are all examples of non-cash wages.

Wages: All money paid to an employee for labor or services rendered on an hourly or salary basis.

Accruals: Items such as vacation and sick leave, which employees accrue under the terms of their work agreement.

Deductions: Money withheld by the employer and paid to other organizations on behalf of the employee, such as union dues.

Employer Expenses: Employer-paid benefits (ie, medical insurance).

Taxes: Amounts withheld by the employer from the employee’s paycheck and paid to a federal, state/provincial, or local government.

Employee Cards

Use this step in the Easy Setup Assistant to add cards for each of your employees. Enter your employee contact information manually or import an existing employee list.

Timesheets

On this window, select if you would like to use timesheets to track employee time for payroll. Timesheets enable you to track the hours your employees work and help you calculate payroll more accurately.