AccountMate 7 for LAN: PR

AccountMate
Software
Corporation

It is vital for a company to have full control over its payroll system to ensure that it processes employee compensation accurately and quickly. With AccountMate’s Payroll module, you can set up records for salaried, hourly and time card/piece work employees, as well as
for independent contractors. You can pay them over a variety of pay periods according to their pay or employment status. Within this flexible system, deductions can be withheld and/or matched by employers. Additional payments, such as bonuses and fringe benefits, can be recorded for any employee and paid on the same or on
separate checks.

The system accrues
paid leave hours, calculates worker’s compensation liability, allows users to customize check
printing on blank check stock, and supports assignment of multiple state and local tax codes to employees. It also automatically calculates payroll taxes and prints payroll tax returns, Federal W-2 forms and 1099 forms.

Using the Payroll
module, employee payments and federal tax deposit payments can be made electronically.

Software
That Fits

Print Page

Text Size

Download PDF

AccountMate 7 for LAN
Payroll Module

Instant Access to Employee Information

Users can drill down on the Employee number field caption for instant access to an employee record. They can view or edit salary, W-4, earnings, paid leave benefits, dependents, deduction, quarterly taxable earnings and payroll tax information. Users can also update the assigned state and local tax codes, resident status, additional withholding amounts and the setting to override system-calculated withholding taxes. This flexibility gives users the capacity to review and update employee data before processing payroll.

Apply Payroll—Payment

Additional State Tax Codes Can Be Set Up

Users can define up to three additional tax codes for each tax state. For each additional tax, they can set up employee and employer tax rates and define a maximum wage base. This is useful for setting up taxes that affect all employees in a state but are not hard-coded into the system since they may not apply to all companies.

Manage Employee Hours and Pay

The Payroll module allows users to track each employee’s work hours through the use of earning codes. These may be set up for regular work hours, overtime, holiday or leave time. They can also represent earnings that are independent of work hours such as tips, commissions, bonuses and fringe benefits. By assigning a department to each earning code, users can track departmental accountability for employee work hours. The pay rate defined for an earning code is applied by default to each employee who is assigned to a particular department allowing the standardization of pay rates by department and work type. Users can overwrite these pay rates when setting up an employee record. Finally, they can define whether an earning code is taxable.

Flexible Wage, Tax and Worker’s Compensation Expense Distribution

Users can allocate the expenses for employee wages, employer payroll taxes and worker’s compensation claims to multiple GL Account IDs and define a distribution percentage for each. This is defined on each earning code, thereby offering maximum flexibility in allocating payroll costs to the appropriate cost centers in the organization.

Accrue, Track and Adjust Paid Leave

Users can accrue paid leave time for qualified employees. Unlimited paid leave records can be set up for vacation, sick, personal or any other paid leave benefits the company offers its employees. Users can define the accrual hours, minimum hours required to qualify for accrual, and the maximum leave hours that can be accrued and carried over into another year. These settings are applied based on the assigned employee tier. Accrual may be done at the start of the year or each time payroll is processed. Users can record the use of an employee’s leave time when processing payroll. And when the employee leaves the company, the unused leave time can either be converted to cash or the remaining balance can be cancelled.

Unlimited Deductions with Option for Employer Matching/Contribution

Users can set up an unlimited number of deductions, and then apply any number of them to each employee. They can indicate whether a deduction is to be withheld as a fixed amount per pay period, a percentage of earnings or a fixed rate per hour worked. A user can also define whether the deduction will be based on gross or net pay, set a maximum deduction per payroll transaction and set an annual deduction limit. Alternatively, users can apply deduction amounts and annual limits based on the employee’s age. They can also indicate whether a deduction is to reduce federal, state or local taxable wages, as in the case of 401(k) plan contributions. If applicable, users can also set parameters for calculating employer matching and/or contributions for these deductions. They can customize each deduction for each employee and overwrite the deduction rates when processing payroll.

Calculate Liability for Worker’s Compensation

AccountMate provides users the means to calculate and track liability for worker’s compensation. They can set up an unlimited number of worker’s compensation codes and worker’s compensation groups. For each combination of worker’s compensation code and group, users can enter the rate and annual limit set by each state, as well as the experience factor that applies to the company. They can apply these worker’s compensation codes and groups to earning codes and employee records to facilitate calculation of worker’s compensation liability on qualified employee payroll transactions.

Apply Payroll Automatically or Manually

The automatic application of payroll is a fast and easy way to accrue payroll for a range of employees or independent contractors. If users want the flexibility to review, amend, apply or skip application of payroll for certain employees, they have the option to apply payroll manually. Regardless of the method used, the system calculates earnings, deductions, employer matching/contributions, paid leave accruals, worker’s compensation and payroll tax amounts based on the data and settings defined for each employee.

Record Time Card, Piece Work or Additional Payment Transactions

Users can enter time card information using the earning code records that exist in the system, thereby saving valuable time. They can also record piece work transactions for employees who are paid based on their output rather than the amount of time worked. Finally, users can record bonuses, commissions, fringe benefits, cash conversion of unused leave time and other similar employee payments. Time card, piece work and additional payment records are processed using the Apply Payroll/Payment function for calculation of the corresponding deductions, employer matching/contribution, paid leave accrual, worker’s compensation liability and payroll taxes.

Support 1099 Payments

The Payroll module supports 1099 payments to independent contractors and tracks these payments for generation of 1099 reports, including printing on 1099-Misc forms. Users can print 1099-Misc forms for the prior or current tax year.

Alerts Help Prevent Duplication of Payment

The system alerts users when a time card has been recorded for an employee during the day. It also alerts them if there are unpaid applied payroll records for the employee for whom they are applying payroll. Users can review the amounts applied for payment to validate whether the transaction being processed duplicates an existing applied payroll/payment record.

Record Payroll After-the-Fact

The Post After-the-Fact Payroll function allows users to record payroll checks generated outside the system and the related earnings, deductions, and payroll taxes. This is useful for companies that implement the Payroll system halfway through the year but need complete payroll data to generate accurate W-2 and other tax reports by the year’s end.

Support Direct Payroll Deposits and EFTPS Payments

The system supports direct deposit of employee payroll checks using either the National Payment Corporation or the Automated Clearing House network. For each employee, users can define up to three direct deposit bank accounts.

AccountMate also supports the electronic deposit of Form 940 and 941 federal payroll taxes via the Electronic Federal Tax Payment System. This enables users to remit payroll taxes directly to the IRS and avoid having to make trips to the bank.

lexible Check Printing and Recording Options

Print checks on either pre-printed or blank check stock. Users can customize the order in which the bank routing number, account number and check number are printed using the Microline font that comes standard with AccountMate. They can also maintain specimen signatures and a company logo for automatic printing onto blank check stock. In case users run into print job problems, they can reprint checks using the same check numbers without voiding the related check records in the system. In addition, they can choose to print the employee’s social security number on check stubs using an encryption format that has been defined.

The system also supports recording of handwritten checks to pay off existing applied payroll records. This flexibility makes it easy to record the issuance of payroll checks outside the Payroll system.

Allow Recalculation of FUTA/SUTA Amounts

Users can recalculate the company’s FUTA and SUTA liabilities. This feature allows users to quickly adjust to changes in FUTA and SUTA tax mandates (i.e. rates or maximum wages) that may occur after paychecks are issued.

Integration with General Ledger, Accounts Payable and Bank Reconciliation Modules

Integration with the General Ledger module allows users to easily post accounting entries for payroll transactions to the General Ledger either temporarily or permanently using the Transfer Data to GL or Period-End Closing functions, respectively.
Integration with the Accounts Payable module allows users to associate a deduction record to an AP vendor and report on deduction liability amounts that can be posted to an AP invoice in order to facilitate deduction remittance.
Integration with the Bank Reconciliation module allows all recorded payroll checks to be available for reconciliation of the related bank account. For easy identification, transaction descriptions and references are also displayed during bank reconciliation. Users can also choose whether to show the employee names associated with payroll check amounts during reconciliation.

Other Features

Support employees with payroll transactions in multiple states and localities
Options to support complex local tax calculations
Process deductions based on assigned priority
Ability to issue payroll checks to corporate contractors
Post quarterly beginning earnings, paid leave, deductions and payroll taxes for employees
Ability to edit federal and state tax tables with a Payroll Tax Subscription Key for the current tax year
Maintain payroll transaction history to facilitate generation of payroll reports for prior tax years
Set up salary and performance review
Drill down to instantly access maintenance records is available on all major field captions
Wide variety of payroll reports and report printing options

© AccountMate Software Corporation. All rights reserved. Reproduction in whole or in part without permission is prohibited. The capabilities, Software Requirements and/or compatibility described herein are subject to change without notice. Contact AccountMate or Authorized AccountMate Solution Provider for current information.