AUTOMATIC TAX COMPUTATION
Single, Married/One Working (Filing Jointly), Married/Both Working(Filing Singly), Head of Household, and Independent Contractor all receive the withholding treatments appropriate to their filing status and "tax homes". You select which taxes are applicable to each employee. Independent contractors normally receive 1099-MISC forms instead of W-2's, but DATASMITH Payroll gives you flexibility to report on W-2's for ministers otherwise treated as independent contractors.
AUTOMATIC PAY ENTRY
Saves time on payrolls containing Salaried or Regular personnel. You can mix Hourly, Salaried, Regular, Reporting Salaried, Commission, and Salary-Plus-Commission in the same payroll. Up to five components of automatic pay are provided: each component can have different tax consequences and handling: allowing you to set up Non-Cash or other Imputed Pay items such as Cost of Excess Group Life Insurance and completely avoid many year-end adjustments.
SIX WITHHOLDING METHODS FOR EACH EMPLOYEE
Employees with substantial outside income or whose pay varies from period to period can choose from "None" (exempt), "Regular", "Regular-plus-Extra-Amount", "Regular-plus-Extra-Percentage", "Fixed Percentage", or "Flat Amount" withholding methods for Federal, State, and Local withholding.
16 PAY CATEGORIES (EXPANDABLE IN GROUPS OF 8)
Eight Ready-to-use Standard Categories to help you get started quickly include Regular, Overtime, Holiday, Vacation, Tips, Sick Pay, Non-Cash, and Other....Plus eight User-Defined Pay Categories with Tax & Handling Control.
USER-DEFINED PAY CATEGORIES User-Defined Pay Categories with Tax & Handling Control put you in charge of special data collection and reporting. This feature allows you to set up (for example) Non-Cash Tax-Exempt Pay, Regular Deferred Compensation Payments, Vehicle Usage, Imputed Pay, "Reporting Only" items, and many other special cases with full YTD tracking and year-end reporting on the W-2. You can handle mixtures of Reported, Imputed, and Allocated Tips. You can have both taxable and nontaxable Sick Pay. Set up one, two, or more 401(K), 403(B) or 501(c) Pension Plans: use User-Defined Pay in combination with User-Defined deductions to set up contributory and non-contributory parts of each plan! Multi-part S-125 Cafeteria Plans are no problem: even when each part requires different taxation and reporting! Easily set up complex cases like ministers' Housing, Pension, and Car Allowance!
SO MANY WAYS TO PAY Your choice of 14 readily-available continuous and laser check styles, including "Stub Only". A handy reminder message tells you exactly which form is selected for use. Prints sample overlays for all supported forms. Built in alignment test. User message on stub. Easy same-period cancel/rewrite. Checks are produced in operator's choice of 5 sorting orders. Cut costs by using the same "blank stub" stock you use with your accounts payable: DATASMITH composes and formats stubs for each employee "on the fly". DATACHECK option creates MICR encoded checks on blank stock with your HP laser printer. Direct Deposit Option available, too...with useful, advanced features such as Automatic Prenotification, plain-paper or mailer style Deposit Notification forms, optional Automatic Balancing Withdrawal, and more!
MANUAL CHECK ENTRY for entry of Off-Site or exceptional checks or After-The-Fact payroll recording. You can also use this handy facility to make one-time adjustments to automatically calculated pay or deductions.
EASY-TO-MAINTAIN TAX TABLES: Tax rates are controlled by Annual Wage Bracket Tables, just like Table 7 of Circular E...and just like the ones published by most states. We even tell you specifically how to extract the information from your state's publication! You need only a single set of tables for each taxing authority no matter how many pay periods you use! (See the actual tables on our web site!) Sure, we'll sell you annual tax table updates if you wish (about $39/year)...but isn't it nice to know you won't have to buy them?
FIVE SPECIAL (NONRECURRING) PAY OR DEDUCTION AMOUNTS
per employee Per Pay Period (expandable in groups of five): The operator has full control over the name given to the item, as well as its tax consequences. Specials are useful for cash advances, bonuses, employee purchases, occasional commission payments, expense reimbursement, and many other irregularly-occurring situations.
AUTOMATIC EARNED INCOME CREDIT CALCULATION
for eligible employees: even handles "spouse also eligible". Earned Income Credit paid is automatically included on your Federal Deposit Summary.
24 DEPARTMENTS (EXPANDABLE IN GROUPS OF 12): Reporting for User-Named Departments is available at operator's option on most reports, with Department totals where applicable. Operator's choice of Alpha or ID order within Department.
12 USER-DEFINED RECURRING DEDUCTIONS in addition to tax withholding (EXPANDABLE IN GROUPS OF 12): Each Deduction can be defined as Taxable, Tax Exempt, Tax-Deferred (FICA only), or All Taxes Except FICA, and can optionally be limited by the balance in each Employee's Auxiliary or Advance Accumulator. For each Employee, each deduction can be a fixed dollar amount, a dollars per hour amount, or a percentage of gross pay. Each pay period, the operator can enable or disable each deduction for the entire company, or for any individual. Recurring Deductions are reported with period and YTD totals.
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