| Field | Description |
|---|
| Code
|
Enter the contribution code. This code displays on the printed check and in the Employee Info Center. In addition to alphanumeric characters, Vision accepts dashes, underscores, and periods in this field.
If your firm uses the Multicompany feature, payroll contribution codes must be unique across all companies in your enterprise.
|
| Description
|
Enter a name or description for the contribution.
|
| SUI
|
Select this option if a payroll contribution is being used to track State Unemployment Insurance. If this field is checked, when you print the SUI worksheet under payroll reports, you can select contribution codes defined as SUI from the
State field on the General tab of the Options dialog for the SUI Worksheet, in addition to all the states.
|
| Credit account
|
Enter the expense or liability (or asset) account number to credit for amounts contributed, or click
 and select the account on the Account Lookup. When you post payroll, Vision credits the account entered in this field.
If you enter an expense account in this field, you must also enter a project number and, if applicable, phase and task numbers. For example, if you select an indirect expense account, you must enter the appropriate overhead project number in the
Project field.
|
| Project
|
Enter the project to associate with the expense credit account or click
and select a project.
This field displays if you enter an expense account in the
Credit Account field. If this field displays, Vision requires entry of a project with the appropriate charge type (for example, an indirect expense account requires an overhead project charge type).
|
| Phase
|
Enter the phase to associate with the expense credit account or click
and select a phase.
|
| Task
|
Enter the task to associate with the expense credit account or click
and select a task.
|
| Debit account
|
Enter the indirect expense, balance sheet or below the line account number to debit for amounts contributed, or click
and select the account on the Account Lookup. When you post payroll, Vision debits the account entered in this field. For example, enter an employer expense for SUI indirect expense account.
Depending on the type of account you enter in this field, you must also select a project of the appropriate charge type. For example, if you enter an indirect expense account in this field, you must also enter an indirect or overhead project number and, if applicable, phase and task numbers.
|
| Project
|
Enter the project to associate with the expense debit account or click
and select a project.
This field's display depends on the account you select in the
Debit Account field. For example, the field displays if you enter an indirect expense account in the
Debit Account field. If this field displays, Vision requires entry of a project with the appropriate charge type (for example, an indirect expense account requires an overhead or indirect project charge type).
|
| Phase
|
Enter the phase to associate with the expense debit account or click
and select a phase.
|
| Task
|
Enter the phase to associate with the expense debit account or click
and select a task.
|
| Method
|
Select the method that Vision should use to calculate the contribution.
-
Percent of employee wages — Select this method to calculate the employer contribution as a percent of an employee’s wages. The wages would calculate as gross wages less 125 cafeteria (if the
Exclude cafeteria plan amounts option is checked), less 401k (if the Exclude
401(k) amounts option is checked)) less any information entered in the Additional Deductions from Wages grid, less other pay amounts, if
Other Pay amounts are checked in the Deduct before calculating withholding area. The calculation for this method is not dependant on the amount the employee had withheld.
For example, you could set up a contribution for State Unemployment Insurance as 7% of gross wages (by entering
7.00 in the
Amount\percent field). If the employee’s salary is $1,000, Vision would calculate $70 for this contribution.
-
Percent of employee withholding — Select this method to calculate the employer contribution as a percent of the employee’s withholding. You must select a withholding from the
Withholding field when using this method.
For example, you could set up a contribution to match 50% of the employee's withholding amount for 401k (by selecting
401k withholding from the
Withholding field and entering
50.00 in the
Amount\percent field). If an employee’s wages are $1,000 and she is contributing 10% or $100, Vision calculates the contribution as 50% of $100, which is $50. Note that if this contribution has a cap on matching set at 6% (6.00 entered in the
Matching rate cap field), then Vision would calculate 6% of 1,000 ($60) and then 50% of $60 ($30). Vision would set the employer contribution to $30.
-
Fixed amount — Select this method to set the employer contribution as a flat dollar amount. For example, if you want to track the employer portion of health care costs, you can enter a fixed amount for each type of employee (family, single, other).
-
Lesser of employee withholding or wages — Select this method to arrive at the employer contribution amount using a formula to take a given employee withholding (for example an employee's 401(k) contribution) multiplied by the employer's matching percent rate (in the
Amount/Percent field) and compare it to gross wages multiplied by the maximum percentage of total wages allowed by your firm. This maximum percentage is determined by the value entered in the
Matching rate cap field. Vision compares these two amounts, selects the lesser of these two amounts to arrive at the employer contribution amount.
For example, if your gross wages are $1000 and you have a withholding set for 401(k) employee contributions that are 10% of wages, Vision calculates the withholding amount to be $100. In this example the employer's percentage rate is set to 50% in the
Amount/Percent field and the
Matching Rate Cap value is set to 6% in Payroll Contribution Setup. Using this method with this information, Vision arrives at the employer contribution amount as follows:
Step 1: 50% of $100 = $50
Step 2: 6% of $1,000 = $60
Step 3: Since $50 is less than $60, we'll use $50
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| Withholding
|
Select a withholding to use when calculating the current contribution amount. If you select a withholding from this field, then the taxable wages for the contribution will match the taxable wages of the withholding specified.
The
Withholding field displays if
Percent of employee withholding or
Lesser of employee withholding or wages is selected from the
Method field.
|
| Matching rate table
|
Select a contribution rate table to use to determine your firm's employer contribution matching amount when different matching percentages are applied to different percentages of deferred compensation. This would be the case if you match 100% of an employee's contribution up to the first 3% of wages that the employee defers, and then match 50% up to 5%.
If a Matching rate table is selected, this overrides any value entered in the
Amount\percent field on the Payroll Contribution Setup form.
|
| Amount/percent
|
Enter the amount or percent to use when calculating the contribution. How Vision uses the value entered here depends on the method you selected from the
Method field.
When you enter contribution information for individual employees in the Employer Contribution grid of the Payroll tab in Employee Info Center. You can override the company-wide method for calculating a contribution by specifying an amount or percentage for the employee.
|
| Matching rate cap
|
Use this field if you have selected to calculate your employer contribution based on the employee's withholdings (Percent of employee withholdings, or
Lesser of employee withholding or wages selected from the
Method field), and you want to set a maximum limit for the amount you contribute.
Enter the maximum amount to contribute in this field. For example, you may match 100% of your employees withholdings up to 6% of the employee wages. If you establish a maximum of 6% of a given employee's wages and that employee contributes 10% of his wages, your contribution still remains 6%.
|
| Wage base
|
The preceding employee wage limit which this contribution is not applied. For example, in some states you are only subject to State Unemployment Insurance for employee salary up to a certain wage base.
For example, if you enter 20,000.00 in this field, after an employee's wages subject to this contribution (gross less any deductions) reaches $20,000, Vision no longer contributes the percentage or amount specified. If the year-to-date gross pay is $19,000 before the current payroll run, and the current gross is $2,000, Vision applies the contribution to the first $1,000 only.
|
| Overall limit
|
Enter the maximum contribution amount for this contribution, per employee. For example, enter the company-wide maximum for 401(k) matching. You can override this limit per employee on the Employer Contribution grid of the Payroll tab in Employee Info Center.
|
| Default contribution for new employees
|
Select this option to set up this contribution for all new employees that will be entered in the Employee Info Center going forward.
Adding a new default contribution for existing employees must be done on an individual basis, on the Employer Contribution grid of the Payroll tab in the Employee Info Center.
If you select this option, you can still suppress (make inactive) or delete the contribution on the Employer Contribution grid of the Payroll tab in Employee Info Center.
|
| Inactivate when processing payroll
|
Select this option to exclude the contribution for all employees when processing future payroll runs. Selecting this option also stops the tracking of applicable or gross pay basis wages.
You can also inactivate a contribution on a per-employee basis from the
Active field on the Employer Contribution grid of the Payroll tab in Employee Info Center. Be aware that the setting in the Employee Info Center overrides this company-wide setting. For example, if you select this option to inactivate the contribution on a company-wide basis, but select
Active for the contribution from an employee's Employee Info Center record, the contribution is active.
|
| Exclude 401(k) amounts
|
If you select this option, Vision considers wages
minus 40l(k) deductions as gross pay subject to contribution. Do not select this option if you want Vision to consider wages
including 401(k) deductions as gross pay subject to contribution.
Vision disables this option if you select a withholding from the Withholding field. When a withholding is specified, Vision uses the wages associated with the withholding to calculate the contribution.
If you select this option, 401(k) amounts are also excluded from the wage base (if you enter one).
|
| Exclude cafeteria plan amounts
|
If you select this option, Vision considers wages
minus 125/Cafeteria deductions as gross pay subject to withholding. Do not select this option if you want Vision to consider wages
including 125/Cafeteria deductions as gross pay subject to withholding.
Vision disables this option if you select a withholding from the Withholding field. When a withholding is specified, Vision uses the wages associated with the withholding to calculate the contribution.
If you select this option, 125/Cafeteria amounts are also excluded from the wage base (if you enter one).
|
| Reset limit at time of W-2 initialization
|
Select this option to reset the amount contributed against any limit set up for the employee at the time of the W-2 year initialization. Selecting this option allows limits set up for employees to automatically be restarted at the beginning of a new W-2 year.
If you do not select this option, Vision continues to contribute the amount or percentage until the specified limit is reached.
|
| Default contribution amount to zero for bonus payroll
|
Select this option to exclude this contribution from bonus payrolls. If you select this option, you can still enter an override amount during payroll processing on the Withholdings grid of the Payroll Processing form. For example, medical insurance is not typically withheld on a bonus payment.
|
| Box to include on W-2
|
Select the box where you want this contribution to print on the W-2 form. Select
None if you do not want to print the contribution.
|
| Deduct before calculating contribution
|
Select any Other Pay option that you want to deduct from gross wages before calculating the current contribution. All Other Pay amounts set up on the Other Pay Setup tab of the Payroll Setup form display as options you can select.
Vision does not display this option if you select a withholding from the
Withholding field. When a withholding is specified, Vision uses the wages associated with the withholding to calculate the contribution.
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