Chapter 4: Chapter 4: EmployeesEmployees

Copyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin

EmployeesEmployees

In Chapter 4, you learn how Sage 50 In Chapter 4, you learn how Sage 50 processes payroll. Once default and processes payroll. Once default and employee maintenance information is set employee maintenance information is set up, payroll is a simple process.up, payroll is a simple process.

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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

Sage 50’s Payroll System

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Sage 50 TipsSage 50 Tips

All work in Chapters 1, 2, and 3, including the All work in Chapters 1, 2, and 3, including the end-of-chapter exercises, should be completed end-of-chapter exercises, should be completed before starting Chapter 4.before starting Chapter 4.When you are ready to print paychecks, you When you are ready to print paychecks, you pick a form to print. The paycheck form selected pick a form to print. The paycheck form selected is tied to the kind of printer you are using. The is tied to the kind of printer you are using. The paychecks shown on pages 147 and 148 are paychecks shown on pages 147 and 148 are OCR Multi-Purpose PR Laser. Depending on OCR Multi-Purpose PR Laser. Depending on the kind of printer being used, you may need to the kind of printer being used, you may need to make a different selection for printing forms.make a different selection for printing forms.

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Sage 50 TipsSage 50 Tips

In Chapter 15, Employees, Payroll and Account In Chapter 15, Employees, Payroll and Account Reconciliation, you learn more about Sage 50’s payroll Reconciliation, you learn more about Sage 50’s payroll defaults. For example, each employee and employer defaults. For example, each employee and employer deduction will be set for individual liability accounts and deduction will be set for individual liability accounts and expense accounts. expense accounts.

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Backing Up Chapter 4Backing Up Chapter 4

Backup File (.ptb)Backup File (.ptb)

Excel (.xlsx) and Adobe (.pdf)Excel (.xlsx) and Adobe (.pdf) KBKB Page Nos.Page Nos.

Chapter 4.ptbChapter 4.ptb 3,810 KB3,810 KB 149149

Exercise 4-2.ptbExercise 4-2.ptb 3,816 KB3,816 KB 151151

Exercise 4-2_Payroll Check Exercise 4-2_Payroll Check Register.xlsxRegister.xlsx

13 KB13 KB 151151

Exercise 4-2_Payroll Check Exercise 4-2_Payroll Check Register.pdfRegister.pdf

58 KB58 KB 151151

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.

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Employee Defaults window, pp. 135-136Employee Defaults window, pp. 135-136

From the Navigation Bar, select ; From the Navigation Bar, select ;

click , Set Up Employee Defaults.click , Set Up Employee Defaults.

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EmployeEmployeee Fields, p. 136 Fields, p. 136After selecting the EmployeAfter selecting the Employeee Fields tab, this Fields tab, this window is shown.window is shown.

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CompanCompanyy Fields, pp. 137-138 Fields, pp. 137-138Read the information on pp. 137-138. After Read the information on pp. 137-138. After selecting the Companselecting the Companyy Fields tab, this Fields tab, this window is shown.window is shown.

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Maintain Employees/Sales Reps, pp. 138-139Maintain Employees/Sales Reps, pp. 138-139Complete steps 1 and 2 on pages 138-139. Complete steps 1 and 2 on pages 138-139. The Maintain Employees & Sales Reps The Maintain Employees & Sales Reps window appears on p. 149.window appears on p. 149.

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Maintain Employees/Sales Reps, p. 149Maintain Employees/Sales Reps, p. 149Click on the Pay Info tab. Pay information for Brandee M. Click on the Pay Info tab. Pay information for Brandee M. Nunnley appears below step 3.Nunnley appears below step 3.

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Payroll Entry for salaried employee, pp. 142-144Payroll Entry for salaried employee, pp. 142-144

The completed Payroll Entry on page 154 is shown The completed Payroll Entry on page 154 is shown below.below.

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Payroll Entry for hourly employee, pp.144-145Payroll Entry for hourly employee, pp.144-145

The completed Payroll Entry on page 145 is shown The completed Payroll Entry on page 145 is shown below. (Three overtime hours are added.)below. (Three overtime hours are added.)

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Journal Entry for Payroll, p. 149Journal Entry for Payroll, p. 149Account Description Account Description DebitDebit CreditCredit

Wages Expense (Regular Hours)Wages Expense (Regular Hours) 720.00720.00

Wages Expense (Overtime Hours)Wages Expense (Overtime Hours) 40.5040.50

Federal Payroll Taxes Payable (Fed_Income)Federal Payroll Taxes Payable (Fed_Income) 84.0884.08

Social Security (Soc_Sec, Employee)Social Security (Soc_Sec, Employee) 47.1547.15

Medicare (Medicare, Employee)Medicare (Medicare, Employee) 11.0311.03

State Payroll Taxes Payable (State)State Payroll Taxes Payable (State) 33.0133.01

Payroll Checking AccountPayroll Checking Account 585.23585.23

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Online Learning CenterOnline Learning Center Go online to Go online to http://www.mhhe.com/yacht2013 for additional for additional

resources. Link to resources. Link to Student EditionStudent Edition, select Chapter 4., select Chapter 4.

o Interactive TestingInteractive Testing Appendix A: TroubleshootingAppendix A: Troubleshootingo Glossary of TermsGlossary of Terms Appendix B: Acctg. Info. SystemsAppendix B: Acctg. Info. Systemso Feature QuizzesFeature Quizzes Appendix C: Review of Acctg.Appendix C: Review of Acctg.o Narrated PowerPointsNarrated PowerPoints Appendix D: GlossaryAppendix D: Glossaryo Assessment RubricAssessment Rubrico Going to the NetGoing to the Neto QA Templates QA Templates

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Going to the NetGoing to the NetAccess the All Accounting Careers website Access the All Accounting Careers website at at http://allaccountingcareers.com. .

1.1. According to the Bureau of Labor Statistics, According to the Bureau of Labor Statistics, how much is the field of accounting how much is the field of accounting expected to grow?expected to grow?

2.2. What do What do accounting salaries look like, and look like, and which industries hire accountants?which industries hire accountants?

3.3. Do accounting salaries differ?Do accounting salaries differ?

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Analysis QuestionsAnalysis Questions

1.1. What pay methods does Bellwether What pay methods does Bellwether Garden Supply use to pay employees? Garden Supply use to pay employees? Briefly explain how you determine Briefly explain how you determine Bellwether’s pay method.Bellwether’s pay method.

2.2. Are all employees paid the same way; for Are all employees paid the same way; for example, bi-weekly? Explain how to example, bi-weekly? Explain how to determine the frequency with which an determine the frequency with which an employee is paid.employee is paid.

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Assessment RubricAssessment Rubric

Date TransactionNavigation

Center/ModuleTask

WindowJournalDr./Cr.

3/29 Record paycheck information for Derrick P. Gross.

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