Chapter 4: Employees Chapter 4: Employees

©The McGraw-Hill Companies, Inc. 2 of 21 Employees In Chapter 4, you learn how Peachtree processes payroll. Once default and employee maintenance information is set up, payroll is a simple process.

©The McGraw-Hill Companies, Inc. 3 of 21 Software Objectives, p. 127 Restore data from Exercise 3-2. (This back up was made on page 124.) Enter and store information using the Maintain Employees/Sales Rep window. Set up default information for payroll. Store constant information about payroll payment methods. Transfer funds from the regular checking account to the payroll checking account. Enter paychecks in the Payroll Entry window. Print employee paychecks. Make two backups: backup Chapter 4 data; and backup Exercise 4-2.

©The McGraw-Hill Companies, Inc. 4 of 21 Web Objectives, p. 127 Use your Internet browser to go to the book’s website at Complete the Internet activity for the American Institute of CPAs. Use a word processing program to write a summary about the websites(s) that you visited.

©The McGraw-Hill Companies, Inc. 5 of 21 Select default information Select employees Enter tax information and define payroll fields Maintain menu Tasks menu Select employees/sales repsSelect payroll entry Set up employee rates and special deductions Enter employee paycheck information for a specific pay period Peachtree’s Payroll System

©The McGraw-Hill Companies, Inc. 6 of 21 Peachtree Tips Peachtree Tips All work in Chapters 1, 2, and 3, including the end-of-chapter exercises, should be completed before starting Chapter 4. When you are ready to print paychecks, you pick a form to print. The paycheck form selected is tied to the kind of printer you are using. For example, if you are using an HP DeskJet printer, the form selected is PR MultiP Checks 2 Stub. You may need to make a different selection for printing forms depending on the kind of printer being used.

©The McGraw-Hill Companies, Inc. 7 of 21 Peachtree Tips Peachtree Tips In Chapter 14, Payroll, you will learn how to set the defaults for the payroll accounts. Each employee and employer deduction will be set for individual liability accounts and expense accounts.

©The McGraw-Hill Companies, Inc. 8 of 21 Backing Up Chapter 4 Backup Name KB Page Nos. Chapter 4.ptb 2,484 KB 145 Exercise 4-2.ptb 2,491 KB 150 In Chapter 4, you make two backups. The Chapter 4.ptb backup is made on page 145 and the Exercise 4-2.ptb backup is made on page 150. Refer to the chart shown on page 2 in the textbook.

©The McGraw-Hill Companies, Inc. 9 of 21 Chapter 4 Topics 1. Software & web objectives, p Getting started, p Default information, pp Maintain employees, pp Payroll tasks, p. 135 a.Transferring cash to the payroll checking account, pp b. Payroll entry for a salaried employee, pp c.Payroll entry for an hourly employee, pp d. Printing payroll checks, pp Journal entry for payroll, p. 144

©The McGraw-Hill Companies, Inc. 10 of 21 Chapter 4 Topics (concluded) 7. Backing up chapter 4 data, p Internet Activity, p Summary and review, p. 146 a. Going to the Net, p b. Short-answer questions, pp c. Exercise 4-1, p. 150 d. Exercise 4-2, p. 150 e. Chapter 4 index, p. 151

©The McGraw-Hill Companies, Inc. 11 of 21 Employee Defaults window, p. 130 From the menu bar, select Default Information, then select Employees.

©The McGraw-Hill Companies, Inc. 12 of 21 EmployEE Fields, p. 131 After selecting the EmployEE Fields tab, this window is shown.

©The McGraw-Hill Companies, Inc. 13 of 21 EmployER Fields, pp Read the information on pp After selecting the EmployER Fields tab, this window is shown on p. 132.

©The McGraw-Hill Companies, Inc. 14 of 21 Maintain Employees/Sales Reps, p From the menu bar, click on Maintain, then Employees/Sales Reps. This window is shown on p. 133.

©The McGraw-Hill Companies, Inc. 15 of 21 Maintain Employees/Sales Reps, p. 134 From the menu bar, click on Maintain, then Employees/Sales Reps, click on the magnifying glass icon in the Employee ID box, then select CLELAND, Charlene M. Leland. Select the Pay Info tab.

©The McGraw-Hill Companies, Inc. 16 of 21 Payroll Entry for salaried employee, p. 138 The completed Payroll Entry on page 138 is shown below.

©The McGraw-Hill Companies, Inc. 17 of 21 Payroll Entry for hourly employee, p. 139 The completed Payroll Entry on page 139 is shown below.

©The McGraw-Hill Companies, Inc. 18 of 21 Journal Entry for Payroll, p. 144 Account Description DebitCredit Wages Expense (Regular Hours) Wages Expense (Overtime Hours) Federal Payroll Taxes Payable (Fed_Income) Social Security (Soc_Sec, Employee) Medicare (Medicare, Employee) 7.74 State Payroll Taxes Payable (State) Payroll Checking Account

©The McGraw-Hill Companies, Inc. 19 of 21 Backing Up Chapter 4 Data, p. 145 Complete steps 1-6 on page 155 to backup Chapter 4 data. The suggested file name is Chapter 4.

©The McGraw-Hill Companies, Inc. 20 of 21 Chapter 4, Internet Activity, p Go to the book’s website at In the Student Center list, link to Internet Activities. 3 Link to WEB EXERCISES PART 1. 4 Scroll down to THE AMERICAN INSTITUTE OF CPAs-Chapter 4. Complete steps Using a word processing program, write a summary about the sites you selected. Include the website address in your summary (maximum length, 75 words; minimum length, 50 words.

©The McGraw-Hill Companies, Inc. 21 of 21 Going to the Net, pp Access the Pro2Net Accounting website at Move your cursor over the Career Center. From the Career Center list, select Career Resources, then link to “The latest on salaries, the future of the profession, career trends, job opportunities and more.” In the SmartPros 2002 Career Guide area, link to Job Opportunities for New Grads; Accounting Industry Top U.S. Employer. Answer the following questions. 1. According to the 2002 salary survey, what type of firm employed the most college graduates? 2. What is the average starting salary for accountants? 3. In 2002, how many college graduates entered the workforce?