Balancing a Payroll Work File - Posting Information

Check out the video related to this topic: Posting a Payroll (More videos below!)

Description

Enter the total amount of the payroll check received from the company. This total will be used to balance against individual distributions on the next screen.

This is a credit union-defined code that is generally used to flag a payroll that is being posted out of balance. It is recommended that you define a set of codes to use whenever posting a payroll that could not be balanced, to make final research and resolution easier to track. This code can also be entered on the payroll final screen.

• The system reserves the code “T” for payroll work files that are received via tape and generated by the system.

This feature multiplies the base deposit amount for each member by the factor entered in this field. (A blank field means one deposit transaction will be posted.) This factor can also be adjusted on each item in the work file if necessary.

• For example, you might use this field for payrolls for teachers that receive three month's pay in the June payroll. In this case, rather than adjusting the deposit amount for the June payroll and then having to change it back in September, you would enter “3” into this field when processing the June payroll. If the normal base deposit amount was $3,000, a single entry on the teacher's statement for $9,000 would be made.

This feature multiples the distribution deposit amounts for each member by the factor entered in this field. (A blank field means one distribution will be processed.) This factor can also be adjusted on each item in the work file if necessary.

• For example, you might use this field for payrolls for teachers that receive three month's pay in the June payroll. In this case, rather than adjusting the deposit amount for the June payroll and then having to change it back in September, you would enter “3” into this field when processing the June payroll. If the normal base deposit amount was $3,000, a single entry on the teacher's statement for $9,000 would be made, and any distributions from the base account would be made 3 times.

BE CAREFUL:

• Do not enter a multiplier here without also entering a multiplier in the Base Multiplier field. For example, if Base Multiplier is set to blank (1) and Distribution Multiplier is set to 2, the system will only make one base deposit but then try to process the distributions twice, and there may not be sufficient funds for both sets of distributions.

• Also be careful with this option if members have distributions set up to make loan payments. If a multiplier is entered here, multiple loan payments would be made on the same date. Some loan contracts require a payment each period and cannot be paid ahead. In most cases it is recommended that you use the Base Multiplier but leave the Distribution Multiplier blank so that distributions are only made once.

This field will show your Employee ID.

If you wish to use the “batch posting” process to post this payroll at some date in the future, enter the date on which the posting should occur (mmddyy). If you plan to post this payroll manually once it has been balanced, leave this field blank.

SEE ALSO: Batch Posting Multiple Payrolls

This field will show any comments which were entered into the Payroll Group record.

Description

Use this to delete the work file, if it was created by mistake or if maintenance is needed before proceeding.

• DO NOT delete work files of payrolls that have been received and generated by the system (i.e., tape payroll) unless the payroll will be transmitted again.

If this work file has not yet been created, use this (or Enter) to create the work file and proceed to the next screen for balancing. If the work file has already been created and balanced, this will proceed directly to the final screen, where the payroll can be posted.

Use this to print a copy of the Payroll Pre-Post Report showing the composition of the work file.

Use this to display the Member Inquiry screens to look up member account data.

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