chapter 4: employees chapter 4: employees copyright ©2013 by the mcgraw-hill companies, inc. all...

Chapter 4: Chapter 4: EmployeesEmployees

Copyright ©2013 by The McGraw-Hill Companies, Inc. All rights reserved.Copyright ©2013 by The McGraw-Hill Companies, Inc. All rights reserved.


EmployeesEmployees

In Chapter 4, you learn how Peachtree In Chapter 4, you learn how Peachtree 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

Peachtree’s Payroll System

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Peachtree TipsPeachtree 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 pp. 157 and 158 are OCR paychecks shown on pp. 157 and 158 are OCR Multi-Purpose PR Laser. Depending on the kind Multi-Purpose PR Laser. Depending on the kind of printer being used, you may need to make a of printer being used, you may need to make a different selection for printing forms.different selection for printing forms.

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Peachtree TipsPeachtree Tips

In Chapter 15, Employees, Payroll and Account In Chapter 15, Employees, Payroll and Account Reconciliation, you learn more about Peachtree’s Reconciliation, you learn more about Peachtree’s payroll defaults. For example, each employee and payroll defaults. For example, each employee and employer deduction will be set for individual liability employer deduction will be set for individual liability accounts and expense accounts. accounts and 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 3,554 KB3,554 KB 159-160159-160

Exercise 4-2.ptbExercise 4-2.ptb 3,577 KB3,577 KB 162162

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

13 KB13 KB 162162

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

58 KB58 KB 162162

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. 145-146Employee Defaults window, pp. 145-146

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. 146 Fields, p. 146After 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. 147-148 Fields, pp. 147-148Read the information on pp. 147-149. After Read the information on pp. 147-149. 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. 148-149Maintain Employees/Sales Reps, pp. 148-149Complete steps 1 and 2 on pages 148-149. Complete steps 1 and 2 on pages 148-149. 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. 152-154Payroll Entry for salaried employee, pp. 152-154

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.154-155Payroll Entry for hourly employee, pp.154-155

The completed Payroll Entry on page 155 is shown The completed Payroll Entry on page 155 is shown below. (Three overtime hours are added.)below. (Three overtime hours are added.)

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Journal Entry for Payroll, p. 159Journal Entry for Payroll, p. 159Account 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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Going to the Net, pp. 160-161Going to the Net, pp. 160-161Access the SmartPros website at Access the SmartPros website at http://accounting.smartpros.com. Move your cursor . Move your cursor over over Career CenterCareer Center. From the Career Center list, . From the Career Center list, select Career Resources, then link to “Effective select Career Resources, then link to “Effective Salary Negotiation (Salary Negotiation (http://accounting.smartpros.com/x28536.xml).” ).” Read the “Effective Salary Negotiation” article. Read the “Effective Salary Negotiation” article. Answer the following questions.Answer the following questions.

1.1. What skills should you objectively evaluate?What skills should you objectively evaluate?

2.2. List three factors that affect starting salary.List three factors that affect starting salary.

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http://accounting.smartpros.com/

http://accounting.smartpros.com/x28536.xml

Analysis Questions, p. 163Analysis Questions, p. 163

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.

Copyright ©2013 by The McGraw-Hill Companies, Inc. All rights reserved.Copyright ©2013 by The McGraw-Hill Companies, Inc. All rights reserved. 1616 of 18 of 18

Assessment Rubric, p. 163Assessment Rubric, p. 163


Date TransactionNavigation

Center/ModuleTask

WindowJournalDr./Cr.

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

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Online Learning CenterOnline Learning Center Go online to Go online to www.mhhe.com/yacht2012 for additional for additional

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

o Interactive TestingInteractive Testingo Glossary of TermsGlossary of Termso Feature QuizzesFeature Quizzeso PowerPointsPowerPointso Assessment RubricAssessment Rubrico Going to the NetGoing to the Neto QA Templates QA Templates

Copyright ©2013 by The McGraw-Hill Companies, Inc. All rights reserved.Copyright ©2013 by The McGraw-Hill Companies, Inc. All rights reserved. 1818 of 18 of 18

http://www.mhhe.com/yacht2012

chapter 4: employees chapter 4: employees copyright ©2013 by the mcgraw-hill companies, inc. all...

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