DIY Payroll with Excel, Part I
I finally took a deeper look at the DIY payroll in Small Business Accounting over the weekend. This feature was made available in the downloadable update on 9/7 and uses Excel to perform the payroll calculations with info pulled in from SBA. If you only have a handful of employees and/or want to manage payroll on your own, this is a reasonable alternative for you.For starters, SBA sends over all of your employees, their time entry/timesheet data (for the specified period) and a set of liability and expense accounts to enable an efficient, two-part setup.
To start the process, select the Employee->Manual Payroll->Enter Manual Payroll menu option. The result is an Excel template that opens and asks for the payroll period dates. These dates will be the basis for employee hours that are brought over from SBA's time entries/timesheets.
Setup Step 1 starts with capturing hourly wages, tax rates and other deductions. Note, if you are paying salaried employees, specify the rate per 40 hrs, or number of hours the salary is based on. Also note that the Tax Status info comes from the W4 Form. All in all, a little info about each employee and the setup is done.
After this step is complete for all of your employees, move on to the GL setup.
More on this setup in the next post...
posted by SBAGURU @ 9:10 PM
6 comments
6 Comments:
Thanks for this trouble shooting. Last time I mange my currency rates account but i face some kinda problem. Now I manage all my accounts.
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