Chapter 04:
Employees
Employees
In Chapter 4, you learn how Peachtree
processes payroll. Once default and
employee maintenance information is set
up, payroll is a simple process.
Set up Employee Defaults
Select employees
Enter tax information and define payroll fields Employees
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
Peachtree’s
Payroll System
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.
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.
Backing Up Chapter 4
Backup File (.ptb)
Excel (.xlsx) and Adobe (.pdf)
KB
Page Nos.
Chapter 4.ptb
3,554 KB
159-160
Exercise 4-2.ptb
3,577 KB
162
Exercise 4-2_Payroll Check
Register.xlsx
13 KB
162
Exercise 4-2_Payroll Check
Register.pdf
58 KB
162
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.
Employee Defaults window, pp. 145-146
From the Navigation Bar, select ;
click , Set Up Employee Defaults.
Employee Fields, p. 146
After selecting the Employee Fields tab, this
window is shown.
Company Fields, pp. 147-148
Read the information on pp. 147-149. After
selecting the Company Fields tab, this
window is shown.
Maintain Employees/Sales Reps, pp. 148-149
Complete steps 1 and 2 on pages 148-149.
The Maintain Employees & Sales Reps
Maintain Employees/Sales Reps, p. 149
Click on the Pay Info tab. Pay information for Brandee M.
Nunnley appears below step 3.
Payroll Entry for salaried employee, pp. 152-154
The completed Payroll Entry on page 154 is shown
below.
Payroll Entry for hourly employee, pp.154-155
The completed Payroll Entry on page 155 is shown
below. (Three overtime hours are added.)
Journal Entry for Payroll, p. 159
Account Description
Debit
Credit
Wages Expense (Regular Hours)
720.00
Wages Expense (Overtime Hours)
40.50
Federal Payroll Taxes Payable (Fed_Income)
84.08
Social Security (Soc_Sec, Employee)
47.15
Medicare (Medicare, Employee)
11.03
State Payroll Taxes Payable (State)
33.01
Going to the Net, pp. 160-161
Access the SmartPros website at
http://accounting.smartpros.com.
Move your cursor
over Career Center. From the Career Center list,
select Career Resources, then link to ―Effective
Salary Negotiation
(
http://accounting.smartpros.com/x28536.xml
).‖
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.
Analysis Questions, p. 163
1. 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
Bi-Assessment Rubric, p. 163
Date Transaction Navigation Center/Module Task Window Journal Dr./Cr. 3/29 Record paycheckinformation for Derrick P. Gross.
Employees & Payroll; Pay Employees,
Enter Payroll For One Employee
Payroll (or Employees and payroll system)
Payroll Entry window Payroll Journal Dr. Wages Expense, $1,346.15 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, $1,058.87 4-17
Online Learning Center
Go online to
www.mhhe.com/yacht2012
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
