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Previous section - Company | Next - Employees | Table of Contents | Documentation Home Section 3 - HR Pension Plans tab window Pension Plans tab windowThe Pension Plans tab window gives you the ability to track employee pension deductions and employer-paid pension contributions for your 401K, Simple IRA, or any other pension plans you may have. For more information, see the User Guide ###. Setting up Pension PlansBefore setting up your employees in the Pension Plans tab window, you should have finalized all the details of your company's pension plan with your pension plan provider. In addition, all your deduction pensions and employer-paid contribution pensions need to be set up in the payroll program and assigned to the appropriate employees. For information on creating deductions and employer paid items, please see ###Creating payroll items . Setting up Pension Plans
NOTE: Located at the top of the Employee List is an option called New Employee Settings. It is a file that acts like a template. If all (or most) of your employees have the same Pension Plan setup, it will save you time and frustration if you first configure the New Employee Settings file and then update the Employee List instead of setting up each employee individually.
Creating pension registersWhen processing payroll for an employee who does not yet have a pension register, an alert message will inform you of the fact and offer several options. Choose the option that applies to your needs.
Choose whether you want to build (i. e. , create) a register for the employee with a 0. 00 balance, with the pay history year-to-date balance, or not to create one at all. Viewing/editing pension registersWhen you record a paycheck that includes pension data, the payroll program takes this data and stores it in separate pension registers. The following instruction set explains how to access the pension registers for viewing and/or editing.
Delete Entry To delete an entry, select the entry you wish to delete, then click the Delete button. The entry will be permanently deleted from the selected pension register. Edit Entry To edit an entry, select the entry you wish to edit, then click the Edit button. A dialogue will appear allowing you to change any of the information related to the selected entry. Increase Click the Increase button to add an entry that increases the amount of the selected pension register. In the Account Increase dialogue, enter appropriate information and then click the OK button. Decrease Click the Decrease button to add an entry that decreases the amount of the selected pension register. In the Decrease Amount dialogue, enter the appropriate information and then click the OK button.
Clearing pension registersThe Clear Files feature allows you to remove the detail (e.g., entries) from your employee's pension registers without removing the balances.
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