Payroll

Save money, maintain control over payroll processes, and respond quickly to employee requests with Microsoft Small Business Financials U.S. Payroll. Features include automated processing, integrated compensation, direct deposit, benefits management, government reporting, payroll reports, and tax table updates that are included in your service plan.

SETUP/MASTER RECORD

• Unlimited employees: Microsoft Small Business Financials includes an active employee count of 100, along with the option to purchase additional blocks of employees.
• Flexible pay codes: Set up unlimited pay codes, including salary, overtime, holiday, time off, sick time, and more. Modify records for individual employees.
• Unlimited benefits and deductions: Unlimited benefit and deduction records, flexible calculation methods, and tax codes automate benefit and deduction tracking.
• Worker's Compensation tracking: Quickly set up and maintain Worker's Compensation codes, tax rates, and annual wage limits used to calculate contributions.
• ADP Payroll Service: Save time and prevent errors by automatically transferring ADP information to update your organization’s general ledger.
• Direct Deposit: Split pay between direct deposit accounts and printed checks. Direct deposit complies with National Automated Clearing House (NACHA) specifications.
• Tax table updates: Download and install year-end and payroll tax updates, including changes to the W-2 and the 1099-R, as well as tax table information for the upcoming calendar year.

DAILY AND PERIODIC TASKS

• Time-off tracking: Once codes are set up, time off is tracked automatically. Financial system integration Payroll information automatically transfers into Banking and Financial tasks.
• Payroll processing wizards: Gather necessary information and process pay runs in a few simple steps.
• Issue paychecks: Run checks in batches, process a special payroll, or issue an individual check.
• Void paychecks: Void checks easily, with automatic posting of corrected entries to general ledger accounts.
• Default pay run settings for employees: Select employees to be used in each pay run without entering a transaction. Microsoft Small Business Financials will pay employees based on pay frequency selections made during setup.

REPORTING/INQUIRY

• Government reporting: Quickly calculate, print and post monthly SUTA and FUTA reports, as well as quarterly SUTA, FUTA, and 941 reports.
• Payroll reports: Pinpoint detailed employee information with 24 Payroll reports. Drill down from summary information to specific paychecks and evaluate payroll data.
• Multiple W-2 formats: Print year-end W-2 statements. View, revise, and print W-2 forms for all employees, including inactive employees or a selected range at any time during the year.
• W2 Magnetic Media: Create the Federal W-2 Magnetic Media files that need to be submitted at year end for government reporting.

Note: Small Business Finacials will no longer be sold to new customers after 1/1/09