Nextsoft Payroll supports a full range of payroll requirements, including all taxes and deductions, union payrolls, 401k and cafeteria plans, matching contributions, direct deposit, data collection via Time & Attendance, employee loans, automatic deposit calculations and a full complement of reports.
Building upon the Human Resource and Time & Attendance applications, Payroll receives hours or calculates salaries, then provides a preview mode during which you can review checks and make changes before proceeding. After previewing, payroll automatically updates the General Ledger and Accounts Payable systems with wage expenses and tax deposits.
Year-to-date totals are maintained for all deductions, loans and wage information, along with quarterly totals for generating quarterly reports.
Deductions and Additions are designed to handle a broad range of payroll deductions and additions, including 401k and cafeteria plans, court orders, health insurance, loans, union dues, piece work, commissions and bonuses, and other non-hourly compensation types.
Deductions can be setup as a flat fee, a percentage of pay or a rate per hour worked. Limits and employer matches, as with 401k plans, can also be designated by dollar or percent of pay up to a maximum.
Deductions can also be assigned to an employee as recurring with each check, or applied manually during paycheck preview for periodic or one-time deductions or pay additions.
Auto-remittance streamlines payments for court orders and 401ks by automatically generating a corresponding payable to the payee through the Accounts Payable system.
Time & Attendance automatically generates the hours types worked for hourly employees based on the rules for their associated workgroup. These hour types include regular, overtime, double time, holiday, vacation, sick and personal time. You can create additional hour types to fit the unique needs of your work force.
Hour Types are used to determine the rate of pay (i.e. 1.5 times base rate for overtime) and whether the hours count towards overtime (i.e. holiday and vacation may not).
Reports show total hours worked for any timeframe by Hour Type, for example, to track number of sick hours or vacation taken during the year.
Work Groups allow you to group employees into groups usually based on type of work performed (i.e. office, manufacturing, field service, management, sales). The Work Group associated with an employee determines the rules used when calculating hours for rounding and overtime, as well as the accounting codes and account numbers which control how their wage expense appears in the General Ledger.
During Paycheck Preview, paychecks are calculated but not processed. You can choose to preview by Work Group, Location, or for all employees. Wages and taxes are calculated, and deductions listed. At this point, you can override any information, or add additional items such as bonus, commissions, loans or reimbursable expenses. A note space allows you to add a custom message to the employee’s printed check.
Preview also allows you to leave, then resume preview at a later time without losing any work, a helpful feature when you need to take a break.
When complete, the previewed checks are processed and the payroll completed. Updates are made automatically to Accounts Payable, General Ledger, Human Resources and any other connected areas.
Deposit amounts for Federal and state withholding, including Social Security and Medicare are calculated automatically and payables created for the corresponding bank and state revenue department. EFTPS and state electronic submission is supported through the recording of electronic payments in Accounts Payable.
Summary and detail reports are available which detail all information required to file quarterly wage reports 941, 940 and state unemployment. Exemption limits for FUTA and SUTA are tracked, and the corresponding unemployment tax calculated for each quarter.
Since all systems in Nextsoft operate in real-time, there are no end-of-year procedures to run before starting the next years payroll. Before January 31st, simply run the W-2 Preview to create W-2 data for the preceding year. During preview, you can add additional information which may be required for state or local reporting. When complete, print W-2’s and the W-3 transmittal.
Electronic submission is also available, which allows you to create a file for submitting W-2 and W-3 transmitting information to the IRS electronically via the Internet.
Running totals are maintained for all wages, deductions, additions and other payroll date for all employees, during the entire time of their employment. This information is useful during employee reviews, terminations, human resource planning and other employee relation issues.