Chapter 4: Chapter 4: EmployeesEmployees

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EmployeesEmployees

In Chapter 4, you learn how Peachtree In Chapter 4, you learn how Peachtree processes payroll. Once default and processes payroll. Once default and employee maintenance information is set employee maintenance information is set up, payroll is a simple process.up, payroll is a simple process.

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Software Objectives, p. 125Software Objectives, p. 125Restore data from Exercise 3-2. (This back up Restore data from Exercise 3-2. (This back up was made on page 122.)was made on page 122.)Enter and store information using the “Maintain Enter and store information using the “Maintain Employees/Sales Rep” window.Employees/Sales Rep” window.Set up default information for payroll.Set up default information for payroll.Store constant information about payroll payment Store constant information about payroll payment methods.methods.Transfer funds from the regular checking account Transfer funds from the regular checking account to the payroll checking account.to the payroll checking account.Enter paychecks in the “Payroll Entry” window.Enter paychecks in the “Payroll Entry” window.Print employee paychecks.Print employee paychecks.Make two backups: one blank, formatted disk for Make two backups: one blank, formatted disk for Chapter 4 backup; one blank, formatted disk for Chapter 4 backup; one blank, formatted disk for the Exercise 4-2 backup.the Exercise 4-2 backup.

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Web Objectives, p. 125Web Objectives, p. 125

Use your Internet browser to go to the Use your Internet browser to go to the book’s website at book’s website at www.mhhe.com/yacht2003www.mhhe.com/yacht2003

Complete the Internet activity for the Complete the Internet activity for the American Institute of CPAs.American Institute of CPAs.Use a word processing program to write a Use a word processing program to write a summary about the websites(s) that you summary about the websites(s) that you visited.visited.

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Peachtree TipsPeachtree Tips

All work in Chapters 1, 2, and 3, including the end-of-All work in Chapters 1, 2, and 3, including the end-of-chapter exercises, should be completed before starting chapter exercises, should be completed before starting Chapter 4.Chapter 4.You print paychecks on plain paper. The paychecks You print paychecks on plain paper. The paychecks illustrated in the book are on preprinted paycheck forms.illustrated in the book are on preprinted paycheck forms.When you are ready to print paychecks, you pick a form When you are ready to print paychecks, you pick a form to print. The paycheck form selected is tied to the kind of to print. The paycheck form selected is tied to the kind of printer you are using. For example, if you are using an printer you are using. For example, if you are using an HP DeskJet 520 printer, the form selected is “PR MultiP HP DeskJet 520 printer, the form selected is “PR MultiP Checks 2 Stub.” You may need to make a different Checks 2 Stub.” You may need to make a different selection for printing forms depending on the kind of selection for printing forms depending on the kind of printer being used.printer being used.

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Peachtree TipsPeachtree Tips

In Chapter 14, Payroll, you will learn how to set the In Chapter 14, Payroll, you will learn how to set the defaults for the payroll accounts. Each employee defaults for the payroll accounts. Each employee and employer deduction will be set for individual and employer deduction will be set for individual liability accounts and expense accounts. liability accounts and expense accounts.

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Backing Up Chapter 4Backing Up Chapter 4

DisksDisks Backup NameBackup Name KBKB Page Nos.Page Nos.8 of 188 of 18 a:\Chapter 4.ptba:\Chapter 4.ptb 859859 1441449 of 189 of 18 a:\Exercise 4-2.ptba:\Exercise 4-2.ptb 859859 149149

Use one blank, formatted disk to back up Chapter 4 on page 144. You will need another blank, formatted disk to back up Exercise 4-2 on page 149.

You can reformat disks used in earlier chapters. If you do not reformat disks, you will need 14 blank, formatted disks for Chapters 1 –8 (Part 1 of the text).

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Chapter 4 TopicsChapter 4 Topics1.1. Software & web objectives, p. 125Software & web objectives, p. 1252.2. Getting started, p. 127Getting started, p. 1273.3. Default information, pp. 128-131Default information, pp. 128-1314.4. Maintain employees, pp.131-132Maintain employees, pp.131-1325.5. Payroll tasks, p. 133Payroll tasks, p. 133

a.a. Transferring cash to the payroll checking account, pp. Transferring cash to the payroll checking account, pp. 133-134133-134b. Payroll entry for a salaried employee, pp. 135 -137b. Payroll entry for a salaried employee, pp. 135 -137c.c. Payroll entry for an hourly employee, pp. 138-139Payroll entry for an hourly employee, pp. 138-139d. Printing payroll checks, pp. 140-143d. Printing payroll checks, pp. 140-143

6.6. Journal entry for payroll, p. 143Journal entry for payroll, p. 143

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Chapter 4 Topics concludedChapter 4 Topics concluded7.7. Backing up chapter 4 data, p. 144Backing up chapter 4 data, p. 1448.8. Internet Activity, p. 144Internet Activity, p. 1449.9. Summary and review, p. 145Summary and review, p. 145

a. Going to the Net, p. 145a. Going to the Net, p. 145b.b. Short-answer questions, pp. 146-148 Short-answer questions, pp. 146-148c. Exercise 4-1, p. 149c. Exercise 4-1, p. 149d. Exercise 4-2, p. 149d. Exercise 4-2, p. 149e. Chapter 4 index, p. 150e. Chapter 4 index, p. 150

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““Employee Defaults” window, p. 128Employee Defaults” window, p. 128

From the menu bar, select Default From the menu bar, select Default Information, then select Employees.Information, then select Employees.

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““Maintain Employees/Sales Reps,” p. 131Maintain Employees/Sales Reps,” p. 131From the menu bar, click on Maintain, then From the menu bar, click on Maintain, then Employees/Sales Reps.Employees/Sales Reps.

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““Maintain Employees/Sales Reps,” p. 132Maintain Employees/Sales Reps,” p. 132From the menu bar, click on Maintain, then From the menu bar, click on Maintain, then Employees/Sales Reps, click on the magnifying glass Employees/Sales Reps, click on the magnifying glass icon in the Employee ID box, then select BNORRIS-01, icon in the Employee ID box, then select BNORRIS-01, Brandee M. NorrisBrandee M. Norris. . Select the “Pay Info” tab.Select the “Pay Info” tab.

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Payroll Entry for salaried employee, p. 137Payroll Entry for salaried employee, p. 137

The completed “Payroll Entry” on page 137 is The completed “Payroll Entry” on page 137 is shown below.shown below.

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Payroll Entry for hourly employee, p. 138Payroll Entry for hourly employee, p. 138The completed “Payroll Entry” on page 138 is The completed “Payroll Entry” on page 138 is shown below.shown below.

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Chapter 4, Internet Activity, p. 144Chapter 4, Internet Activity, p. 14411 Go to the book’s website at Go to the book’s website at

www.mhhe.com/yacht2003www.mhhe.com/yacht2003

22 In the “Student Center” list, link to Internet Activities.In the “Student Center” list, link to Internet Activities.

33 Link to WEB EXERCISES PART 1Link to WEB EXERCISES PART 1..

44 Scroll down the screen to “THE AMERICAN Scroll down the screen to “THE AMERICAN INSTITUTE OF CPAs-Chapter 4.” Complete steps INSTITUTE OF CPAs-Chapter 4.” Complete steps 1-3.1-3.

55 Using a word processing program, write a summary Using a word processing program, write a summary about the sites you selected. Include the website about the sites you selected. Include the website address in your summary (maximum length, 75 address in your summary (maximum length, 75 words; minimum length, 50 words.words; minimum length, 50 words.

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Going to the Net, p. 145Going to the Net, p. 145Access the Pro2Net Accounting website at Access the Pro2Net Accounting website at http://accounting.smartpros.comhttp://accounting.smartpros.comMove your cursor over the Move your cursor over the Career CenterCareer Center. From the . From the Career Center drop-down list, select “2003 Career Career Center drop-down list, select “2003 Career Guide,” then link to Guide,” then link to Accounting Salaries & TrendsAccounting Salaries & Trends, , then link to then link to Read our overview of the 2003 Salary Read our overview of the 2003 Salary GuideGuide. Read the article and then answer the . Read the article and then answer the following questions.following questions.

1.1. What industries are expected to have the strongest What industries are expected to have the strongest demand for accountants?demand for accountants?

2.2. What are the specialties and skills most in What are the specialties and skills most in demand?.demand?.

3.3. Who did the research for this article on starting Who did the research for this article on starting salaries?salaries?