Payroll
In Payroll you process your company's payroll for all posted timesheets, or for timesheets posted within a particular date range, and then generate employee paychecks and direct deposits.
You can meet increasingly complex regulatory requirements, by defining taxable wages based on any withholding that you create. In addition, you can define how other pay wages impact a withholding calculation. You do this in Payroll Withholding Setup.
You also perform the following tasks in Payroll:
- Process multiple payroll runs simultaneously.
- Pay employees different rates based on the project or on effective dates.
- Assign a default bank to use for all employees of a particular organization.
- Produce payroll posting logs.
- Process and print W-2 forms.
- Print worksheets that help you fill out state unemployment insurance reports, quarterly state income tax reports, and federal Forms 940 and 941.
- Set up a default bank for each organization, in Organization General Setup
- Review the Payroll Posting log to see General Ledger accounts affected by posting a payroll run.
- Review the Payroll Journal to see posting detail, including an employee's pay rate in effect at the time of posting, benefit hours, and direct deposit information.
To process payroll, Vantagepoint uses information from the Employees hub, the Projects hub, the Transaction Center, and Accounting Cost/Pay Rate tables.
- Related Topics:
- Basics
Review guidelines about when to install Payroll, the accounts you'll need to use Payroll, and learn about appropriate check stock and templates. - Setting Up Payroll
Settings in the Employees hub and in Accounting Settings impact the fields and options that you use in Payroll. - Export to Pay Interface
Use this application to export Vantagepoint timesheet data into files for third-party applications, ADP, Paychex, or Ceridian Powerpay, for processing your payroll. - Payroll Processing (Desktop)
When you process payroll, Vantagepoint creates a check for each employee or initiates a direct deposit, and recognizes the time posted for the period as being paid. - Payroll Direct Deposit (Desktop)
After you configure Vantagepoint to use the Direct Deposit feature and process payroll, you can initiate direct deposits on any payroll run posted in the current period. - Posting Payroll and Printing Checks
A processed payroll run is not recognized until it is posted. Once posted, Vantagepoint recognizes the payroll expense, the employer’s FICA expense, and the withholding amounts. - Form W-2 Processing (Desktop)
Use Form W-2 Processing to generate W-2 Wage and Tax Statements that report wages paid to each employee and the taxes withheld from them. - Payroll Quarterly Processing (Desktop)
Use Quarterly Processing to generate a valid quarterly electronic reporting file for U.S. state payroll taxes. - Payroll Reports
Use payroll reports to organize, present, and monitor data related to your employees' pay, federal taxes, state taxes, and local income taxes. - Tax Calculations and Methods
Payroll comes with a set of built-in federal, state, and local tax tables used to calculate tax withholdings. Deltek provides three yearly payroll updates to these tax tables. Updates are typically sent in December, January, and July. - Tax Facts
United States tax tables are available in Vantagepoint for federal taxes and for each state or commonwealth, as well as for several major localities.
Parent Topic: Deltek VantagepointSM Help