Payroll

The Petroware2000 Payroll Module can meet every payroll need your organization faces. This system can maintain employee records, calculate payroll, print employee checks, prepare payroll-related tax reports, and generate entries to the General Ledger accounts. This payroll system has the ability to:

• Prepare payroll for any period: daily, weekly, biweekly, semimonthly, quarterly, or annually; giving you amazing flexibility in your payroll options
• Calculate federal and state income tax withholdings, FICA, unemployment taxes and workers’ compensation.
• Prepare reports by department or by company for any period.
• Accrue vacation and sick leave and report remaining entitlement on check stubs.
• Prepare reports detailing data for Forms 940 and 941.
• Deduct pre-tax contributions for 401(k) plans or employee cafeteria benefit plans.
• Allow you to define pay types and deductions; and allow for any additional federal income tax (FIT) withholding, your organization may need to perform.
• Allocate labor costs and employer-paid taxes to lease/wells to be joint billed.
• Automatically calculate overtime, holiday pay, and shift premiums, at your discretion.
• Process direct-deposit payroll without printing checks.
• Maintain personnel records including hire dates, pay-rate increases, and time spent and time remaining for vacation and sick leave.
• Calculate taxes withheld for multiple states.
• Print W-2’s and 1099’s.
• Allocate payroll and expenses to leases and/or wells, at your discretion, instead of automatically.