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 paychecks and direct deposits for employees.
You can meet 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 (in Payroll Withholding Setup, in the desktop application).
You 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 in 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.
- Review the Payroll Posting log to see the 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 the Accounting Cost/Pay Rate tables.
- Related Topics:
- When to Install Payroll
Because the Payroll application accumulates quarter-to-date and year-to-date wage and withholding amounts, it is important that you choose an installation date that ensures your payroll amounts are reported correctly. - Setting Up Payroll
Settings in the Employees hub and in Payroll Settings impact the fields and options that you use in Payroll. - Payroll Payments
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. - 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. - 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