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3.12 Payroll Setup in Company Settings

Feb/22/2008

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Tradepoint's Payroll settings for companies is established through the Company Settings under the Payroll icon you see in the tool bar shown below.

Since the Payroll settings can apply for different types of withholdings including flexible spending plans, health care plans, and additional deductions such as child care and garnishments there are two levels to the payroll settings. The first level of information is found in the Payroll Screen that shows each type of Payroll deduction that applies to this Company/Division in this window.

Each company or Division can have its own Payroll structure specific for that Company/Division. Each of the tax structures will need to be set up manually for multiple companies or divisions.

1. Deductions for this company are listed above.
2. Each of these fields are editable and drop down menus exist to select the correct account for the Payroll Expense and Payable Account.
3. Clicking on the 'New Deduction" Account will open a new set of fields for a new payroll deduction.
4. Highlighting any of the line item fee schedules and clicking the 'Edit Fee Schedules' icon will take you to the screen you see below to edit the details of your deduction fee schedules.

The view you are seeing above shows a single fee schedule for one Deduction. This is the second layer of information for payroll deductions. Each Deduction can have multiple fee schedules attached to it.

For example, federal tax with holdings may be different depending on the amount of income that is being earned so the federal tax with holding structure you see here would have as many different fee schedules as applies to this payroll deduction.

Below is an example of established fee schedules within your Company Settings for one tax.

1. Click the 'New' icon in the lower left corner to open a new or subsequent fee schedule.
2. Each of the highlighted fields is either editable or has built in drop down tools for calculators or to specify accounts for expenses or payables.
3. Always enter in a start date for the fee schedule and for general purposes you may want to leave the End Date open. When the End Date is left open the deduction will apply continuously. Unless the specific deduction is for a specific time leave the End Date empty.
If an end date is set then the deduction will automatically stop after that End Date.
4. Fields for the fee schedule include: Pay Range, Employer Contributions, and Employee Contributions.

Tradepoint will calculate the deductions based on these fee schedules and the Employee compensation settings within each Employee file. The settings here and within each Employee file will determine what is calculated when the payroll wizard is processed.

Be sure to save your payroll settings within the company settings when you establish your payroll deductions and fee schedules.



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