1. Chapter 4: Employees Chapter 4: Employees

2. ©The McGraw-Hill Companies, Inc., 2004 2 of 16 Employees In Chapter 4, you learn how Peachtree processes payroll. Once default and employee maintenance information is set up, payroll is a simple process.

3. ©The McGraw-Hill Companies, Inc., 2004 3 of 16 Software Objectives, p. 125 Restore data from Exercise 3-2. (This back up was made on page 122.) 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: one blank, formatted disk for Chapter 4 backup; one blank, formatted disk for the Exercise 4-2 backup.

4. ©The McGraw-Hill Companies, Inc., 2004 4 of 16 Web Objectives, p. 125 Use your Internet browser to go to the book’s website at www.mhhe.com/yacht2003 www.mhhe.com/yacht2003 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.

5. ©The McGraw-Hill Companies, Inc., 2004 5 of 16 Peachtree Tips All work in Chapters 1, 2, and 3, including the end-of- chapter exercises, should be completed before starting Chapter 4. You print paychecks on plain paper. The paychecks illustrated in the book are on preprinted paycheck forms. 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 520 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.

6. ©The McGraw-Hill Companies, Inc., 2004 6 of 16 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.

7. ©The McGraw-Hill Companies, Inc., 2004 7 of 16 Backing Up Chapter 4 Disks Backup Name KB Page Nos. 8 of 18 a:\Chapter 4.ptb 859144 9 of 18 a:\Exercise 4-2.ptb 859149 Use one blank, formatted disk to back up Chapter 4 on page 144. You will need another blank, formatted disk to back up Exercise 4-2 on page 149. You can reformat disks used in earlier chapters. If you do not reformat disks, you will need 14 blank, formatted disks for Chapters 1 –8 (Part 1 of the text).

8. ©The McGraw-Hill Companies, Inc., 2004 8 of 16 Chapter 4 Topics 1. Software & web objectives, p. 125 2. Getting started, p. 127 3. Default information, pp. 128-131 4. Maintain employees, pp.131-132 5. Payroll tasks, p. 133 a.Transferring cash to the payroll checking account, pp. 133-134 b. Payroll entry for a salaried employee, pp. 135 -137 c.Payroll entry for an hourly employee, pp. 138-139 d. Printing payroll checks, pp. 140-143 6. Journal entry for payroll, p. 143

9. ©The McGraw-Hill Companies, Inc., 2004 9 of 16 Chapter 4 Topics concluded 7. Backing up chapter 4 data, p. 144 8. Internet Activity, p. 144 9. Summary and review, p. 145 a. Going to the Net, p. 145 b. Short-answer questions, pp. 146-148 c. Exercise 4-1, p. 149 d. Exercise 4-2, p. 149 e. Chapter 4 index, p. 150

10. ©The McGraw-Hill Companies, Inc., 2004 10 of 16 “Employee Defaults” window, p. 128 From the menu bar, select Default Information, then select Employees.

11. ©The McGraw-Hill Companies, Inc., 2004 11 of 16 “Maintain Employees/Sales Reps,” p. 131 From the menu bar, click on Maintain, then Employees/Sales Reps.

12. ©The McGraw-Hill Companies, Inc., 2004 12 of 16 “ Maintain Employees/Sales Reps,” p. 132 From the menu bar, click on Maintain, then Employees/Sales Reps, click on the magnifying glass icon in the Employee ID box, then select BNORRIS-01, Brandee M. Norris. Select the “Pay Info” tab.

13. ©The McGraw-Hill Companies, Inc., 2004 13 of 16 Payroll Entry for salaried employee, p. 137 The completed “Payroll Entry” on page 137 is shown below.

14. ©The McGraw-Hill Companies, Inc., 2004 14 of 16 Payroll Entry for hourly employee, p. 138 The completed “Payroll Entry” on page 138 is shown below.

15. ©The McGraw-Hill Companies, Inc., 2004 15 of 16 Chapter 4, Internet Activity, p. 144 1 Go to the book’s website at www.mhhe.com/yacht2003 www.mhhe.com/yacht2003 2 In the “Student Center” list, link to Internet Activities. 3 Link to WEB EXERCISES PART 1. 4 Scroll down the screen to “THE AMERICAN INSTITUTE OF CPAs-Chapter 4.” Complete steps 1-3. 5 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.

16. ©The McGraw-Hill Companies, Inc., 2004 16 of 16 Going to the Net, p. 145 Access the Pro2Net Accounting website at http://accounting.smartpros.com http://accounting.smartpros.com Move your cursor over the Career Center. From the Career Center drop-down list, select “2003 Career Guide,” then link to Accounting Salaries & Trends, then link to Read our overview of the 2003 Salary Guide. Read the article and then answer the following questions. 1. What industries are expected to have the strongest demand for accountants? 2. What are the specialties and skills most in demand?. 3. Who did the research for this article on starting salaries?