The Payroll System includes an option to automatically keep a record of General Ledger accounts directly affected by payroll transactions. This option, referred to as the G/L Tie-in, automatically records General Ledger entries to debit expense accounts by account number, and credits a single cash account for the amount of all payroll checks. Also, withholding and deduction amounts are accumulated and recorded.

The Payroll System includes a similar option to automatically record and maintain Job Cost Accounting entries from each payrun in the Job Cost Distribution File.

Most employees are paid on a time basis. An employee might be paid by the hour, week, month, or year. In other payroll situations, tips, meals, and even housing make up at least part of an employee's pay.

Some employees paid on a time basis may be salaried. Others may be assigned more than one pay rate, such as regular, overtime, and double time rates.

The Taurus Payroll System effectively maintains payroll for the various types of time payments and rates utilized by your business.

The Taurus Payroll System uses the percentage method of determining the amount to be withheld. This method involves a percent computation based on the tax table for one exemption, a rate table for the corresponding pay period, and the marital status of the employee.

The system stores all tax tables used in calculating an employee's tax withholdings. The tax table file is maintainable so that it can always reflect current tax laws. The file includes federal, state, and local withholdings as well as the current FICA figures.

In the Taurus Payroll System, the term deduction is used to mean a deduction other than taxes. FICA and withholding taxes are not referred to as deductions.

Mandatory deductions include State Disability Insurance; union dues; the employee's share of accident, health, or life insurance; and the employee's share of pension plan. Examples of voluntary deductions include savings bonds, United Fund, credit union, and stock deductions.

Deductions can be taken either as a percentage of gross pay or as a fixed amount. Also, these deductions may or may not be taken each pay period. For example, an employee with a weekly pay period may have a particular deduction taken the third week of each month.

A deduction may be taken throughout the year, or it may stop when a certain amount has been accumulated. For example, an employee's debt to the credit union deduction stops being taken when the employee's debt to the credit union has been paid off.

The system maintains to-date totals for all deductions specified. Totals can be cleared at year-end.

It is imperative that employers keep accurate and detailed payroll records - not only for their own bookkeeping purposes, but for filing government reports such as Forms 940, 941, and W2. The federal government requires that employers have the previous four years’ payroll records available for review by the Internal Revenue Service.

Our Payroll System accurately maintains these records, which include names, addresses, social security numbers, and occupations of all employees; the amounts and dates of all earnings; and sick leave/pay for all employees.

In addition, with the Payroll System, you can specify the departmental structure of your company. The system allows up to 99 different divisions and stores to-date totals for hours worked and dollars paid for each department. These totals are maintained by the system in the department records file to provide instant access via screen display or printout of the payroll expenditures of each company department. The department description and reference number(s) can be changed at any time.

All information about time worked and/or pay earned by an employee is stored in the Attendance File, which is the nucleus of the paycheck run. Once paychecks are printed, the system prints check, deduction, savings bond, and attendance registers; and the Certified Report (Certified Payroll with job numbers only). These audit documents should be kept as permanent records. All appropriate totals are updated based on the data in this file.

Two programs are used for entering attendance: Regular attendance posting and Certified attendance posting. Regular attendance posting is used to enter all regular types of pay, travel pay, taxable and non-taxable pay adjustments, sick time/pay, and vacation time/pay for hourly, salaried, and meals and tips employees, and multiple state or job classification information. Certified attendance posting is the same except attendance must be entered for each day of the pay period.

The system offers posting procedures useful under special circumstances. If a check has been written by hand (a check not system generated), you may record this information manually. You may also create a check by manually entering all necessary information. Paycheck Deduction Posting is used to change an employee's deductions for the current paycheck only. Other functions, such as changing the pay period ending date, selecting pay periods for the current check run, and changing the week of the month for deductions, are used if you need to change any information before posting attendance and printing checks.

After all attendance has been posted, paychecks can be printed. The checks are printed on continuous forms specific to the Payroll System. At the end of the check run, you can save the attendance file for future use to eliminate repetitive re-entry of attendance information if many of your employees have similar attendance records each pay period.