Agenda Packets - 1985/01/02 - Laserfiche WebLink

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I(T) �undfm5alctnce- P.O. Box 1987 • Ann Arbor, MI 48106 • (313) 662.1303 FundBalance Payroll/Personnel offers a comprehensive and flexible automated system. FundBalance Payroll meets all standard stale and federal requirements. In addition, per- sonnel files are maintained for your record -keeping. Fund - Balance Payroll automatically creates the payroll dislribu- lion journal entries to the General Ledger to provide full integration with the FundBalance Financiai Accounting System. PAYROLL CYCLE Offers choice of weekly, biweekly, sembmonlhly, monthly, and quarterly pay periods. Several types may by used simultaneously and checks issued separately or at the same time. a Designed for timesaving Payroll by Exception. Time or pay can be set for standard distribution to one or more accounts. Only exceptions need be entered. o Distributes labor automatically per account number * Produces time sheets, payroll register, paychecks, fund transfer report INCOME TAXES e Permits qualified employees to lake Earned Income Credits s Gives the user control over income tax withholding rates, withholding allowance per dependent + Offers the user ability to indicate extra tax withholding amounts • Allows different number of exemptions for state and federal taxes • Handles city income tax withholding SPECIAL FEATURES • Permits up to two deferred compensation plans • Bases retirement deductions on gross earnings 9 Calculates state and federal taxes on gross pay less the deterred compensation amount *Earmarks retirement withheld as exempt from federal taxes, if desired PayrglllPereonnel • Accommodates more than one retirement plan 9 Issues separate checks for special pays such as longevity pay, holiday pay, and cost of living, if desired. Tax exempt amounts (such as travel expenses) can be added to net pay. a Maintains year-to-date retirement information concern- ing withholding and employer's contribution PERSONNEL PROCESSING a Accrues leave hours automatically Produces many reports such as employee list by ID number, alphabetical employee listing, complete employee information, etc. Collects benefits information, such as retirement contribu- tions and percentages paid by employer and employee MAJOR PAYROLL REPORTS Employee master file Trial Balance report Precalculated time sheets Employer's cost report Payroll register Deduction Reports: Paychecks Union dues Check register Credit union Annual FICA report United fund W-2's, 941's, 1099's Deferred compensation O-T-D Report Savings bond