Payroll Practice Fundamentals
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Table of Contents
Payroll Practice Fundamentals
Table of Contents pages: 1 2
- Payroll Fundamentals 1-115
- 1.1 Challenges 1-115
- 1.2 Concepts 1-216
- 1.3 The Fair Labor Standards Act 1-1529
- 1.4 Federal Minimum Wage 1-1832
- 1.5 Additional Earnings 1-2135
- 1.6 Defining Overtime 1-2539
- 1.7 Calculating Overtime Payments 1-3347
- 1.8 Defining Time Worked 1-4458
- 1.9 Recordkeeping and Systems 1-4862
- 1.10 Form W‑4, Employee’s Withholding Certificate 1-5771
- 1.10.1 Forms W‑4, W‑4P, and W‑4R 1-5872
- 1.10.2 Filing Requirements 1-5872
- 1.10.3 Invalid Form W‑4 1-6074
- 1.10.4 Exempt Form W‑4 1-6074
- 1.10.5 Employer’s Responsibilities 1-6276
- 1.10.6 Withholding Income Tax From Pensions, Annuities, Nonperiodic Payments, and Rollover Distributions (Forms W‑4P and W‑4R) 1-6478
- 1.10.7 Deducting Income Tax From Sick Pay (Form W‑4S) 1-6579
- 1.10.8 Obtaining Taxpayer Identification Numbers 1-6579
- 1.10.9 State Withholding Certificates 1-6579
- 1.11 Child Labor 1-6680
- 1.12 Family and Medical Leave Act (FMLA) 1-6781
- 1.13 Expatriates, Resident Aliens, and Nonresident Aliens 1-6882
- Fundamentals of Payroll Operations 2-191
- 2.1 The Payroll System 2-191
- 2.2 Batch and Real-time Processing Methods 2-292
- 2.3 Interfaces 2-393
- 2.4 Control Procedures 2-797
- 2.4.1 Edits 2-797
- 2.4.2 Balancing and Reconciliation 2-898
- 2.4.3 Documentation 2-898
- 2.4.4 Apply Department Procedures and Update Payroll Processes 2-999
- 2.4.5 Auditing and Validation of Source Data Input/Output 2-999
- 2.4.6 Batch Controls 2-10100
- 2.4.7 Correction Procedures 2-10100
- 2.4.8 Accumulator Totals 2-11101
- 2.4.9 Upgrading/Updating the Payroll System 2-11101
- 2.4.10 Security 2-12102
- 2.5 External audits 2-15105
- 2.6 Paying Employees 2-18108
- 2.6.1 Paying by Check 2-18108
- 2.6.2 Direct Deposit 2-20110
- 2.6.3 The Direct Deposit Process 2-22112
- 2.6.4 Resolving Late Deposit Issues 2-26116
- 2.6.5 Stopping Direct Deposit 2-27117
- 2.6.6 Reversing Direct Deposit 2-27117
- 2.6.7 Federal Bank Holidays 2-28118
- 2.6.8 Payment by Payroll Card 2-29119
- 2.6.9 Regulation of Payment Timing 2-31121
- 2.6.10 On-Demand Pay (Earned Wage Access) 2-32122
- 2.6.11 Unclaimed Wages 2-33123
- 2.7 Business Continuity Plans 2-33123
- Paycheck Fundamentals 3-1131
- 3.1 Withholding Federal Taxes 3-1131
- 3.2 Withholding Social Security and Medicare Taxes 3-30160
- 3.3 Additional Deductions From Pay 3-36166
- 3.4 State Taxes 3-55185
- 3.5 Deceased Employees 3-61191
- 3.6 Gross to Net Calculation 3-63193
- 3.7 Employer‑Paid Taxes 3-64194
- Payroll Benefit Basics 4-1205
- 4.1 Fringe Benefits 4-1205
- 4.1.1 Tax Treatment of Employee Compensation 4-2206
- 4.1.2 IRS Definition 4-3207
- 4.1.3 Fair Market Value of Noncash Compensation 4-3207
- 4.1.4 Imputed Income 4-3207
- 4.1.5 Recognition of Noncash Fringe Benefits 4-4208
- 4.1.6 When to Withhold and Deposit Taxes on Noncash Fringe Benefits 4-5209
- 4.1.7 Withholding Tax on Fringe Benefits 4-5209
- 4.1.8 Nonreportable Fringe Benefits 4-5209
- 4.2 Prizes and Awards 4-11215
- 4.3 Company Vehicles 4-13217
- 4.4 Group‑Term Life Insurance 4-18222
- 4.5 Deferred Compensation 4-21225
- 4.6 Section 125 Flexible Benefit Plans 4-30234
- Tax Reporting 5-1241
- 5.1 Depositing Federal Taxes 5-3243
- 5.2 Quarterly Tax Returns 5-13253
- 5.3 Form W‑2, Wage and Tax Statement 5-37277
- 5.4 Penalties 5-57297
- 5.5 Annual Tax Returns 5-61301
- 5.6 Additional Reporting Forms 5-77317
- 5.6.1 Form 941‑X, Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund 5-77317
- 5.6.2 Form 943, Employer’s Annual Federal Tax Return for Agricultural Employees 5-78318
- 5.6.3 Form 944, Employer’s Annual Federal Tax Return 5-78318
- 5.6.4 Form 945, Annual Return of Withheld Federal Income Tax 5-78318
- 5.6.5 Form 1094‑C, Transmittal of Employer‑Provided Health Insurance Offer and Coverage Information Returns 5-79319
- 5.6.6 Form 1095‑C, Employer‑Provided Health Insurance and Coverage 5-79319
- 5.6.7 Form 4070, Employee’s Report of Tips 5-79319
- Payroll Accounting 6-1327
- 6.1 Accounting Basics 6-1327
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