Pay Groups
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Pay groups are assigned to a set of employees and define how they are paid. Pay groups determine pay frequency, pay schedule, and processing steps.
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Pay groups are assigned to a set of employees and define how they are paid. Pay groups determine pay frequency, pay schedule, and processing steps.
Each year, businesses are legally required to report federal and jurisdictional payroll tax liabilities to the proper tax authorities. Payroll taxes are calculated based on the total compensation of each employee.
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After the proper amount of taxes are withheld for the employee and employer, it needs to be paid to the proper agencies. Federal income and insurance tax payments must be paid electronically through the electronic federal tax payment system.
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Payroll taxes are calculated based on the total compensation of each employee. Federal and State withholding taxes are based on the Form W-4 information for each employee.
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The Pay Periods Profile defines the frequency for paying employees and drives the pay dates for payroll.
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Earnings identify different types of employee compensation for services provided. Earnings can also include specific parameters such as accounting rules, tax laws, and reporting requirements.
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A general ledger is a journal containing accounting transactions related to a company’s assets, liabilities, equity, revenue, and expenses.
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