I know this is a stupid question, but I just can't seem to figure it out.
How do I input payroll into my system? I'm using TM8 Professional with BM Plus for all of my billing and accounting. I use an outside vendor (ADP) to process payroll and handle all withholding, health and 401K deductions, and Flexible Spending Accounts.
I get a report twice a month breaking down how the checks are done, but I have no idea how to update my system either for purposes of tracking income and expenses or to update my bank account register. I'm three months into my new practice, so I need to get this up to date pronto.
Any suggestions would be greatly appreciated.
David Bert Havas
You can do what David does and actually enter each item as a check with the appropriate deductions. Or, you can take your report from ADP and enter the totals as Journal Entries.
Does ADP issue checks or is it direct deposit for your employees? Do you use a separate payroll bank account or does ADP issue checks against your Operating account.
If ADP issues checks against your operating account then using David's method is best because all the checks will be entered and will agree with your bank statement for reconciliation purposes.
If Payroll deduction then you don't really need to enter each item, you can do journal entries.
Sandra H. Adams, (CIC/Moderator) Strategic Legal Technology Consulting, Inc.
Pretty much everyone does direct deposit. What makes it a bit tricky is all of the deductions (FSA, 401k, dental, health).
I'm still struggling with the Journal entry funtion as I've yet to post the ledger. This means no income, cash flow, etc. reports. Of course without the payroll those numbers aren't very enlightening anyway.
I'll take a stab at this.
Sorry, there does not seem to be a way to change the date on the register.
You should consider creating an Auto-Entry Form for your Payroll. While the numbers may change, the basics are all there and it is much easier to do each time you have a payroll.
Suggest you delete and re-enter with correct dates.
Caren Schwartz (Moderator/CIC)
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