In MYOB AccountEdge, paychecks are transactions that you use to pay your employees. Like “regular” checks, paychecks can affect your company’s checking accounts, credit card accounts, petty cash accounts and other cash accounts. Many companies, however, use a special “payroll checking” account from which they pay their employees.
Step 1: Be sure your payroll information is completely set up
Step 2: Identify where the money for the paycheck will be drawn from
Step 3: Enter the employee’s name
Step 4: Review the paycheck information that appears automatically
Step 5: Distribute vacation and sickpay (optional)
Step 6: Distribute other types of wages (optional)
Step 7: Choose what you want to do with the transaction
Creating paychecks in AccountEdge is a quick and simple process -- if you’ve taken the time to carefully set up your company’s payroll information. If you haven’t done so already, be sure to review the following topics to learn how to completely set up your payroll:
Click below for the step-by-step procedure:
Be sure your payroll information is completely set up
The list in the upper left corner of the Write Paychecks window displays all the checking accounts you’ve set up. Remember that check accounts can be used for any cash disbursement method. Credit cards, petty cash, money market accounts and other methods for making payments may be displayed in this list.
Only accounts you’ve specifically designated as checking accounts or credit card accounts appear in the list. If you want a particular account to appear in this list, you’ll need to create the account first. See Creating accounts for more information.
Click below for the step-by-step procedure:
Be sure your payroll information is completely set up
If you’ve fully set up your payroll information, the process of writing a paycheck in AccountEdge is as simple as entering an employee’s name in the Write Paychecks window. When you enter an employee’s name, AccountEdge automatically calculates all the employee’s wages, accruals, deductions, employer expenses and payroll taxes—collectively known as payroll categories in AccountEdge—and displays the appropriate amounts in the Write Paychecks window.
Click below for the step-by-step procedure:
All payroll categories assigned to the employee you entered in the Payee field appear in the scrolling list in the lower section of the window. If the employee is paid on an hourly basis, enter the number of hours he or she worked for each of the wage categories assigned to him or her. The payroll categories’ amounts are calculated automatically and displayed in the Amount column of the scrolling list.
Before you record the paycheck, it’s very important to you and your employee that the information that appears in the scrolling list is correct. Be sure to take a few moments to review the line items in the scrolling list to ensure the proper amounts appear, and that the proper accounts are affected by the transaction.
Click below for the step-by-step procedure:
Review the paycheck information that appears automatically
You can distribute vacation or sick pay accrual wages on an employee’s paycheck. To do this, you should have already created accruals for your employee’s sick or vacation time. See To create an accrual for more information.
Click below for the step-by-step procedure:
Distribute vacation and sickpay (optional)
. You can include other types of pay, such as non-cash wages, sales commissions or bonuses, on an employee’s paycheck. To perform this step, the wages you intend to pay should already exist in the AccountEdge system, and should be assigned to the employee. (For example, if you wish to pay a bonus to the employee, a wage called “Bonus” should already exist in the AccountEdge system and should be assigned to the employee.See To create a wage to learn how to create wages, and To enter payroll details (employees only) to learn how to assign wages to employees.)
Click below for the step-by-step procedure:
Distribute other types of wages (optional)
When you’re finished making entries in the Write Paychecks window, there are a number of tasks you can perform with the transaction. Be sure to review all the options before you choose what you want to do.
Click below for the step-by-step procedure:
Choose what you want to do with the transaction
You can print and reprint individual paychecks, or you can print several paychecks at the same time—the choice is yours.
You can also customize the look of your printed paychecks. See Customizing forms for detailed information about customizing your printed forms.
After you’ve recorded a paycheck, you can print it. You can also choose a specific set of paychecks to print. If you want to print some paychecks you’ve already printed, be sure the Unprinted Checks Only selection is not marked in the Forms Selection window before you proceed with printing the checks.
If you’re unable to make entries or selections in your print window, your printer driver software may not be up to date. See Preparing your computer for more information.
See Printing forms if you need information about:
Click below for the step-by-step procedures:
To print and reprint your paychecks
If you plan to record the same paycheck on a regular basis, you may want to consider creating a recurring paycheck. When you create a recurring paycheck, the transaction information is saved in a separate “holding area,” where you can retrieve the transaction as many times as you want in the future. Until you record them, recurring paychecks have no effect on your financial records. See To store the paycheck as a recurring paycheck for information about creating recurring paychecks.
You can record a recurring paycheck as many times and as often as you want.
Click below for the step-by-step procedure:
To record a recurring paycheck
After you record a paycheck, you’ll probably want to view the transaction again sometime in the future. AccountEdge allows you to easily find paychecks and recurring paychecks.
Click below for the step-by-step procedures:
Keeping your payroll information up to date and accurate must be one of your business’s primary concerns, for the sake of both you and each of your employees. AccountEdge contains a number of tools which help you gain a quick picture of your payroll information.
Click below for the step-by-step procedures:
To display a list of all your paychecks
To display a list of recurring paychecks
To print a list of all your paychecks
To print a list of all your recurring paychecks
To analyze your payroll activity
Occasionally, you’ll find it necessary to make a change to a paycheck you’ve already recorded. Unlike most other types of transactions in AccountEdge, once a paycheck is recorded, you can’t directly change it. However, you can change a paycheck if you remove or reverse the entire paycheck and then write a new paycheck that contains the information you want.
There may be times when you simply want to remove a paycheck. When this is the case, you can quickly remove the effects of such a transaction from your records.Whenyou remove a recurring paycheck, the paycheck is removed from your list of recurring paychecks only. Any transactions you recorded using a recurring paycheck you remove won’t be affected.
An important point to consider is if the paycheck is changeable or unchangeable. If the transaction is changeable, you can remove the check altogether from your ledger.
Unchangeable transactions work differently. By reversing an unchangeable paycheck, the effects of the original will no longer be part of your ledger; however, a record of the reversed check, called a reversing transaction, will remain. Then, if you want, you can enter a new, correct transaction to replace the one you reversed. See What are changeable and unchangeable transactions? for more information.
Click below for the step-by-step procedures:
To change a recurring paycheck’s name or frequency
To change a recurring paycheck’s line items and other information
To remove a recurring paycheck
To reverse a payroll cheque
Paychecks Overview