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Pro Gold i2 Online User Manual

 

Chapter 22 - Payroll Setup

Earnings and Deductions Icon

  • Do not have to enter earning entries for Regular Pay, Overtime Pay or Vacation Pay (system includes default accounts for all:  1) REGPAY, 2) OTPAY and 3) VACPAY
  • Includes additional earnings and deductions (i.e., Bonus, Local Tax, 401(k))
  • Can create additional earning and deduction categories as needed
    • Review/create earning entries
    • Regular Pay and Overtime Pay are automatically provided by system, They do not require assignment in Earnings Tab
    • Bonus Pay, Vacation Pay are automatically provided by system and can be assigned in the Earnings Tab
    • Holiday Pay, Sick Pay must be created and can be assigned in Earnings Tab
  • Review/Create deduction entries
    • Federal Tax (FEDTAX), Social Security Tax (SSTAX) and Medicare Tax (MCTAX) are automatically provided by system
    • State Tax/Local Tax (e.g. MITAX, NCTAX, etc.. ) are automatically provided by system
    • All other deductions created for your company (e.g., 401(k) Tax, Local Tax, etc..)
    • All deductions must be assigned in the Deductions Tab of each employee  
    • Federal deductions do not require $ amount or % to be entered; all other deduction entries require a $ amount or % figure to be entered to calculate deduction amount