How to use payroll in sage 50December 3, 2018
Every business has clients who have employees to pay on regular basis. To many businesses, payroll is often most difficult and time-consuming task to run a business. In this case their accountant or financial advisor comes into the play. Also, a software like Sage 50 can also help in this case of setting up and running a payroll. So, let’s get started.
Setting Up a Payroll in Sage 50
If you are facing the mentioned problem of setting up a payroll, relax as Sage 50 has user friendly Payroll Setup Wizard that user can utilize in setting up the payroll in very quick time. After you open the Payroll Setup Wizard, follow the next steps:
- Fill out the company information like Federal and State Employer ID etc.
- Set up other benefits which includes insurance, retirement, sick leave, vacations and all the required options.
- Now, time to setting up the tax options and all accounts for the tax collections.
Make sure that the payroll account is correctly setup, the income statement as well as balance sheet will always reflect expenses which ensures that how much is your liability?
Running a Payroll in Sage 50
Once the setting up is completed, user comes to the easier part of the process in the program. Tasks like payroll entry in which items like employee ID, date and cash accounts is entered. If hourly, then don’t forget to enter the number of hours or the salary. The rest process is automatic. Check all your taxes to ensure the final numbers are as expected. Then print on checks and the Payroll is complete.if you got any issues then feel free to contact us at Sage Contact Number Ireland