3.12.2 Establishing Payroll Deductions
consult your Accountant before you set up your deductions for the first time to
make sure you have the latest information for with holdings in
Tradepoint's payroll structure supports an
unlimited amount of deductions. This allows you to have not only the standard
deductions for governmental deductions but additional ones for items like
savings or health plans offered with some companies.
deductions are created within the main Payroll Deductions settings in the screen
below. The second step is to edit the Fee Schedules of each of the deductions to
create the details for the relevant income ranges and States/Provinces as well.
In this example there are four
payroll deductions listed. Each of those deductions can have multiple Fee
Each of the fields above can be typed into and for each of
the Accounts you will have a drop down menu to access the respective Account
from the COA (chart of accounts).
The next step will be establishing the
Fee Schedules for each of these deductions.