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Payroll Process Report
The Payroll Process Report, PAY00505,
is the key report for payroll funding, payment liabilities, and all other
banking transactions, both ACH
and check payments, associated with the payroll. All tax liabilities and
what liabilities were escrowed
and when they will be paid are included. This is the most popular payroll
funding and balancing report.
After a payroll has been posted, the Payroll Process Report provides
a detailed analysis of the payments and bank account funding.
Business Scenario
Often, a Payroll Processor uses the Payroll Process Report
to balance and reconcile check and ACH
transactions for a given payroll. This report may also be used as the
supporting documentation for the ACH
file processing for the payroll.
The Payroll Process Report details all banking transactions,
both ACH and
check payments, created in a payroll process, including the following:
- Gross payroll and tax funding
summarizes Gross pay, employer taxes, employer deductions, and the service
fee payment.
- Direct payroll payments and funding
totals employee checks, employee ACH
advices and vendor, tax and fee payments.
- The Tax liability summary details
the total taxes by tax code and broken down between employee and employer.
- The Payroll deduction vendor
and tax agency direct and escrowed
payments details these payments by vendor/Agency, it includes the payment
date and the payment due date of escrowed
payments. It also references the bank accounts being debited and Vendors
and/or agencies being credited in the payroll process.
- Manual and Void payments details
the manual and/or voided checks processed within a payroll process.
Payroll Process Report, PAY00505