Deductions

The Payroll System processes all mandatory payroll deductions and provides for General Ledger coding to all payroll tax expense and liability accounts and the payroll cash account.

The System will also process up to 300 different voluntary deductions including:
regular, bank, 401k, wage garnishment, insurance, Tax Sheltered Annuity (TSA), flex, and Health Savings Account (HSA).

• Create and select from a library of deductions, then modify for the employee.
• Code deductions to the General Ledger.
• Indicate if the deduction is taxable for federal, FICA, state, local, FUTA and SUTA, and if the deduction qualifies as a Section 125 Plan deduction.
• If integrated with Accounts Payable (AP), identify the vendor to be paid from the deduction. Payroll will create the transaction, and AP will create an open invoice using the payroll date as the invoice date.
• Specify deduction amounts up to a certain balance. For example, an amount to be taken each week until fulfilling a pledged charitable contribution.
• 401k deductions:
  • Enter employee and employer amounts as percentages or fixed amounts.
  • Allow 401k Catch-up Contributions to a certain amount per payroll as a lump sum, a percent or a fixed amount.
  • Take deductions to repay 401k loans.
• Wage Garnishments:
  • Deduct as a dollar amount or percent of net or gross pay up to a balance limit.
  • Specify deductions that are allowed before garnishment is calculated.
  • Specify how much pay employee can keep based on net pay.
  • Charge an administration fee.
• Override a regular deductions or specify one-time deductions.
• If generating correction checks, choose deductions not to be taken.
• Print up to 20 deductions on pay stubs.
• Print end-of-month lists of insurance payments to be made.
• At any time, and before W-2 printing, view or print YTD deductions totals.