Payroll Accounting Career Guide and Counseling

Question: I have a problem in payroll accounting. A companies employees get paid weekly but they also get annual bonuses I have a problem in payroll accounting. A companies employees get paid weekly but they also get annual bonuses that amounts to 8% of their annual salary. The bonus is to be paid with the regular salaries, but the amount of the bonuses and the amount of the salaries will be show separately on the earnings statement. Then it also says to withhold a flat 25% on the annual bonus. So Harvey J. Hill's regular earnings are $5,500. So do I multiply 5,500 by 8% and that is his bonus but then multiply the bonus $440 by the 25%? That makes it 110. Is that right? Thank you!!

Answer: First compute regular salary. Then compute amount of bonus (8%). Amount of withholding for bonus is 25%. so... 5500.00 x .08 = 440.00 440.00 x .25 = 110.00 Regular salary = 5500.00 Bonus = 440.00 Withholding from bonus = 110.00 Net bonus (after withholding) = 330.00

Question: In need of free accounting software/payroll software so i could be familiar with it? I am a recent college graduate and most positions ask that you know some particular software. Unfortunately, I have not used any accounting software. If anyone know of a free site I could download software or learn software please inform me.

Answer: Go on quickbooks online to get the free trial for a month. It's not like the perofessional version because they only let you use the "home business version" but it's a good start...

Question: looking for good software for cpa-accounting & payroll tax preparation? I am a NY cpa witha small pratice, we have been using accountants world software called accoutants relif and are 85% satisfied, we also used their After the fact paroll andwere 75% satisfied last year, but this quarter it has been a nightmare. I would like to know what other accounting and integrated after the fact payroll software maybe avaible ? thanks

Answer: We do very little payroll work, so we generally use QuickBooks or Excel to keep track of payroll for clients, depending if we are keeping up with their books as well. I generally fill in the PDF version of 940 and 941 reports and file the TX reports online. I use W-2 Mate or LazerLink for W-2/W-3 and 1099/1096 prep. For bookkeeping, we use QuickBooks or Peachtree, but mostly QuickBooks. Like I said, we do not prepare many payroll returns, so we are not set up for high volume processing. Our bookkeeping is minimal as well, since we mainly focus on IRS representation.

Question: What is the difference between accounting and payroll? and what schooling should you take for etiher?

Answer: Accounting = Payroll + Business Expenses + Everything that uses $$$ in your business Payroll = Payroll = How much the company has to give to employees Get an accounting degree b/c it includes both.

Question: What is the best accounting software for a business dealing with development loans & payroll? I work for a Developer and need accounting software that can deal with multiple development loans, as well as can calculate payroll & taxes. He doesn't think QuickBooks is good enough, but I've always liked it in the past....Does anyone know of anything else I might try?? Thanks!

Answer: i use one called mas 90 its like a quickbooks on steriods...

Question: Where is the best place on the internet to find jobs? I specialize in accounting and payroll.? I am looking for a job in business and finance. I have 10 years experience in food service operations and 35 years experience in management. Where is is the best place on the internet to find a job in the mid-Michigan area?

Answer: Monster.com is nationwide but some areas of the country use it more than others. For more local jobs, check out websites that highlight the nearest big city. If you google the name of the city plus "jobs" or "employment", it should help find sources for work in your area.

Question: Accounting, Payroll and Taxes? I am getting ready to in a couple of weeks take an accounting class online which takes 6 weeks for Accounting Fundamentals 1 and then another for Fundamentals 2. I am also going to be learning payroll as well with these course but on top of that I'd like to learn taxes. Where is some good site for me to check out tax courses besides the H&R Block thing, I'd prefer it be online. Also, would knowing accounting (or learning it online) get me a job, even if I'm not an certified CPA?

Answer: Accounting classes may help ... if you have no prior exposure whatsoever. Skip the payroll classes...99% of business payroll is automated now and you're not going to learn anything of value. Try "irs.gov" ... take a tutorial and explore the site...tax prep for the most part is pretty easy. Good luck.

Question: Do you need to know accounting to do payroll? Does payroll involve the knowledge of accounting?

Answer: Yes, you need to know accounting to do payroll.

Question: Accounting Question about Payroll stuff? The total of the Federal Income Tax column of a payroll register is credited to what classification of account? Until the amounts withheld from employee salaries are paid by the employer, they are recorded as what?

Answer: Taxes payable?

Question: How to use inventory and payroll with my Tally 9.0 accounting software? How to use inventory and payroll with my Tally 9.0 accounting software

Answer: hello, i am a tally consultant. i can help you for doing all this thing. first of all you have to activate acounts & inventory option in company creation & after that go in inventory info, stock item, creeat. now you can create stock item as much as you required. at the time of creation you have to discribe the measuement method & godown also (if you have more than one godown otherwise there is no need to mention the godown) in the creation there is one more thing which is known as valuation method. keep first one on "fifo" & second one on "std. price". after doing all this thing you can contact me through email "deewa20002000@yahoo.com"

Question: A peachtree accounting payroll question? Our company recently purchased the peachtree package for payroll. We will be paying biweekly but the amounts for the benifits (insurances) will only be coming out 24 payperiods, not the 26. Is there a way to set the program up to take certain catagories, like health insurance, out twice a month rather then every pay period. You can do this manually twice a year but that takes more time. Is there a better way?

Answer: You will need to do this manually. It is the fastest and easiest way. In the months that you have 3 payrolls, just override those entries to 0. It is only twice and it will save you a lot of headache.

Question: what is payroll accounting tell me in details? above question related to accout.

Answer: try this site http://www.futureaccountant.com/

Question: Payroll Accounting help please!? I have a problem in payroll accounting. A companies employees get paid weekly but they also get annual bonuses that amounts to 8% of their annual salary. The bonus is to be paid with the regular salaries, but the amount of the bonuses and the amount of the salaries will be show separately on the earnings statement. Then it also says to withhold a flat 25% on the annual bonus. So Harvey J. Hill's regular earnings are $5,500. So do I multiply 5,500 by 8% and that is his bonus but then multiply the bonus $440 by the 25%? That makes it 110. Is that right? Thank you!!

Answer: J. Hills earnings are 5,500. therefore the 8% bonus is 440. Therefore you must withhold 110. Yes that is correct. But the additional probelm is that these amounts have to be addressed on a weekly basis. So, if we assume 52 weeks in a year, then each week you will pay the weeks wages of 5500/52 = 105.77 The bonus will be 440/52 = 8.46 And the witholding is 110/52 = 2.12 So the gross before tax will be 105.77 +8.46 - 2.12 = 112.11

Question: Accounting software with payroll for Canadians? I'm starting a small business with one employee, at some point I would like to invest in some software but I want one with payroll. Some of the software I've seen will do it for an added fee. Isn't there some software i can use that I could load up the payroll tables or add the equation myself?

Answer: If you want personalized, reliable and quick advice, you should check out the ProCompare website (GOOGLE Procompare). They have a recommendation engine that ranks accounting software based on ratings and reviews from a community of trusted IT professionals. They also have an effective personalization slider that lets you personalize the results based on the criteria that are most important to YOU. Hope you'll find this answer useful.

Question: What are the difference between accounting information system and payroll system? and what is the easier to do between the two?

Answer: They are totally different. One is used to post accounting transactions to the general ledger, the other is used to maitina employee records, calculate paychecks, and track taxes and other deductions. One requires knowledge of accounting, the other requires knowledge of payroll procedures (and a little accounting).

Question: Iam working in a MNC and we are service providers. Our services include Payroll, Accounting and NRI Loans. We are a outsourcing company located in Hyderabad. If any one wants to Outsource Payroll, Accounting, NRI Home Loans and Incorporations. Give my Mail Address phani_ibs@yahoo.com

Answer: First tell me whether u r a service provider for Indian or US payroll and accounting. I have heard about IBSN in Hyderabad. Are you belongs to same company or different? Please reply to my mail for further communications. I was searching for this type of consultancy...Thanks .......