Chapter 04: Employees

Transcription

1 Chapter 04: Employees McGraw-Hill/Irwin Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved.

2 Employees In Chapter 4, you learn how Peachtree processes payroll. Once default and employee maintenance information is set up, payroll is a simple process. 4-2

3 Peachtree s Payroll System Employees Set up Employee Defaults Select employees Enter tax information and define payroll fields Employee Maintenance Record transaction Select employees/sales reps Select payroll entry Set up employee rates and special deductions Enter employee paycheck information for a specific pay period 4-3

4 Peachtree Tips All work in Chapters 1, 2, and 3, including the end-of-chapter exercises, should be completed before starting Chapter 4. When you are ready to print paychecks, you pick a form to print. The paycheck form selected is tied to the kind of printer you are using. The paychecks shown on pp. 157 and 158 are OCR Multi-Purpose PR Laser. Depending on the kind of printer being used, you may need to make a different selection for printing forms. 4-4

5 Peachtree Tips In Chapter 15, Employees, Payroll and Account Reconciliation, you learn more about Peachtree s payroll defaults. For example, each employee and employer deduction will be set for individual liability accounts and expense accounts. 4-5

6 Backing Up Chapter 4 In Chapter 4, you make two backups, and save one Excel file and one PDF file. For all the backups made in Part 1 (Chapters 1-8), refer to the chart on pages 2 and 3 in the textbook. Backup File (.ptb) Excel (.xlsx) and Adobe (.pdf) KB Page Nos. Chapter 4.ptb 3,554 KB Exercise 4-2.ptb 3,577 KB 162 Exercise 4-2_Payroll Check Register.xlsx Exercise 4-2_Payroll Check Register.pdf 13 KB KB

7 Employee Defaults window, pp From the Navigation Bar, select ; click, Set Up Employee Defaults. 4-7

8 Employee Fields, p. 146 After selecting the Employee Fields tab, this window is shown. 4-8

9 Company Fields, pp Read the information on pp After selecting the Company Fields tab, this window is shown. 4-9

10 Maintain Employees/Sales Reps, pp Complete steps 1 and 2 on pages The Maintain Employees & Sales Reps window appears on p

11 Maintain Employees/Sales Reps, p. 149 Click on the Pay Info tab. Pay information for Brandee M. Nunnley appears below step

12 Payroll Entry for salaried employee, pp The completed Payroll Entry on page 154 is shown below. 4-12

13 Payroll Entry for hourly employee, pp The completed Payroll Entry on page 155 is shown below. (Three overtime hours are added.) 4-13

14 Journal Entry for Payroll, p. 159 Account Description Debit Credit Wages Expense (Regular Hours) Wages Expense (Overtime Hours) Federal Payroll Taxes Payable (Fed_Income) Social Security (Soc_Sec, Employee) Medicare (Medicare, Employee) State Payroll Taxes Payable (State) Payroll Checking Account

15 Going to the Net, pp Access the SmartPros website at Move your cursor over Career Center. From the Career Center list, select Career Resources, then link to Effective Salary Negotiation ( Read the Effective Salary Negotiation article. Answer the following questions. 1. What skills should you objectively evaluate? 2. List three factors that affect starting salary. 4-15

16 Analysis Questions, p What pay methods does Bellwether Garden Supply use to pay employees? Briefly explain how you determine Bellwether s pay method. The Pay Info tab on the Maintain Employees & Sales Reps window shows that Bellwether s employees are paid Hourly Hours per Pay Period and Salaried. Another way to determine the Pay Methods is to scroll through the Employees list on the Employees & Payroll Navigation Center. The Pay Method field shows the two pay methods Hourly - Hours per Pay Period and Salary. 2. Are all employees paid the same way; for example, bi-weekly? Explain how to determine the frequency with which an employee is paid. No. Some of Bellwether s employees are paid bi-weekly, others are paid weekly. To see how employees are paid, go to the Maintain Employees & Sales Reps window. Select the Pay Info tab. In the Employee ID field, select various employees. To determine when they are paid, look in the Pay Frequency field. For example, Amanda W. Chester is paid Biweekly; Al L. Duke is paid weekly. 4-16

17 Assessment Rubric, p. 163 Date Transaction Navigation Center/Module Task Window Journal Dr./Cr. 3/29 Record paycheck information for Derrick P. Gross. Employees & Payroll; Pay Employees, Enter Payroll For One Employee Payroll Entry window Payroll Journal Dr. Wages Expense, $1, Payroll (or Employees and payroll system) Cr. Federal Payroll Taxes Payable, $55.38 Cr. Social Security, $83.46 Cr. Medicare, $19.52 Cr. State Payroll Taxes Payable, $48.15 Cr. 401 K Deductions Payable, $80.77 Cr. Payroll Checking Account, $1,

18 Online Learning Center Go online to for additional resources. Link to Student Edition, select Chapter 4. o Interactive Testing o Glossary of Terms o Feature Quizzes o PowerPoints o Assessment Rubric o Going to the Net o QA Templates 4-18