User Guide

Paying Employees
Workbook 97
S
wc90wb.doc, printed on 1/3/02, at 11:14 AM. Last saved on 1/3/02 10:54 AM.
ACCPAC INTERNATIONAL, INC. Confidential
Amount.
Since you chose to allocate payroll expenses by
amount (in Exercise 4), the Amount field is available. (You
could also have chosen to allocate by percentage or hours.)
Enter the dollar amount to be charged to the project. You can
allocate all or part of the remaining expense among
additional projects by selecting each project, then entering
the amount. The total amount to be allocated and the
remaining amount are displayed at the top of the dialog box.
Deductions tab
Pension, Group Insurance, Medical, Miscellaneous 1
and
2
.
Since you checked Automatic Payroll Deductions as a Payroll
option in Exercise 1, some fields are not accessible. The program
calculates these amounts automatically.
Taxes tab
EI, CPP/QPP,
and
Tax.
Since you checked Automatic Payroll
Deductions as a Payroll option in Exercise 1, the fields for federal
and provincial payroll taxes are not accessible. The program
calculates these amounts automatically.
Exercise 27: Entering Payroll Transactions
This is a two-part exercise. In part 1, you will add enough money
to the Payroll Bank account to cover the paycheques you will
issue, and in part 2, you will enter payroll transactions.
Part 1: Increasing the Payroll Bank Account
When you use separate bank accounts for different functions in
your business, you need to keep track of your account balances.
You want to avoid having an overdrawn account, and you want
to keep large amounts of cash in a higher interest-bearing
account.
Data Processing Services has begun to earn revenues, and
receipts are starting to come in. However, to earn those
revenues, the company has had to incur expenses. Payroll is
usually a significant expense for a service company, and Data
Processing Services is no exception. The Payroll Bank account
does not have sufficient cash to meet the payroll. Therefore,
before entering paycheques, you must transfer cash into the
Payroll Bank account.