Pay Stub Accounts

Before you can generate pay stubs or properly configure policies, you must first setup pay stub accounts. Pay stub accounts are similar to line item accounts in a general ledger. Employee earnings are deposited into Earning pay stub accounts and deductions go into either Employee or Employer deduction accounts.

As you prepare to configure your pay stub accounts, remember that earning accounts withdraw from accruals, and deduction accounts deposit into accruals. This feature is commonly used for keeping track of accruing vacation pay.

For example, you would create a Vacation Accrual account of type Accrual and a Vacation Accrual Release account of type Earning with Vacation Accrual set as the accrual account. Then Vacation Accrual Release amounts are automatically withdrawn from Vacation Accrual. This method can also be used to keep track of employee loans.

As an option, you can enter values for Debit Account and Credit Account fields. These identifiers are for mapping the TimeTrex accounts to account numbers in your general ledger (GL) of your accounting system. You do not need to map all TimeTrex accounts to individual GL accounts. If you want to combine two or more TimeTrex accounts in to a single GL account, you enter the same account number.

• Example 1: If you want Provincial/State and Federal income tax to be combined in to a single GL account, you would give them the same account number, such as 2330.
• Example 2: If you combine all the TimeTrex earnings accounts in to a single GL account number of 2300, enter 2300 for the TimeTrex "Total Gross" account.

To add a new Pay Stub Account:

• Click Payroll, then click Pay Stub Accounts in the main menu.
• Click New in the button bar.
• Complete the fields.
• Click Save in the button bar to save your changes, or click Cancel to discard the changes.

See the Basic Operation section for details on viewing, adding, editing and deleting.

 

Pay Stub Account Tab FIELD DESCRIPTION Status Select a status from the drop-down box. STATUS DESCRIPTION ENABLED This pay stub account is active. DISABLED This pay stub account is inactive. Type Select a type from the drop-down box. TYPE DESCRIPTION Earning Employee earnings, such as wages, commissions, bonuses, etc. Employee Deduction Employee deductions for taxes, uniforms, etc. Employer Deduction Employer contributions for retirement plans, vacation, Medicare, etc.. Employer deductions do not appear on employee pay stubs. Total Used by the application. Accrual Indicates that this type is an accrual account, and it maps to another pay stub account. Miscellaneous Neither an earning or a deduction. Often used for tracking purposes. Miscellaneous accounts appear on employee pay stubs. Name Enter a descriptive name for this pay stub account. Order Enter a value for the order in which the accounts appear on the pay stub. The lower the order, the higher up on the pay stub the account will appear in its own section. Accrual Choose an Accrual for the pay stub account where all amounts are deposited or withdrawn for the purposes of keeping a running balance. NOTE:  If Accrual was selected in the Type field, this field will not appear. Debit Account Enter the account name or number for the Debit Account in your existing General Ledger. See General Ledger Mapping. Supports the use of variables for advanced functionality. Credit Account Enter the account name or number for the Credit Account in your existing General Ledger. See General Ledger Mapping. Supports the use of variables for advanced functionality.