How to Enter Payroll Manually

AgExpert Accounting is designed with built-in payroll functionality.  However, if you choose not to use it, you can still make your payroll entries through the transaction screen.  However, if you choose this path, there are a couple of things to understand:

1) Payroll deductions will not be automatically calculated for you.  You must have the deductions ahead of time, before you start your entry.

2) Payroll remittances will not be done for you.  You can make the entry manually, but the calculations will not be processed and saved by the payroll system.

3) You will not be able to print pay stubs.

4) You will not be able to process T4’s/RL-1’s from the system.

To make your payroll entries, make sure to have all your numbers ahead of time.  In the transaction screen, you will start with the paycheques themselves.

We will use the following examples.  The values below are only examples and may not be accurate for your situation:

Employee A

Gross Wage       $1,000.00

CPP                    $     35.06

EI                       $     16.60

Income Tax        $      24.03

Employee B

Gross Wage       $1,500.00

CPP                    $     59.51

EI                       $     24.90

Income Tax        $    138.83

Your employee’s paycheques will be entered using the following entry:

Line 1 – the gross amount of employee wages

Line 2 – the value of the employer portion of CPP

Line 3 – the value of the employer portion of EI

Line 4 – the full amount of CPP payable to CRA

Line 5 – the full amount of EI payable to CRA

Line 6 – the full amount of income tax payable to CRA

Each employee should be entered individually, so that your bank can be reconciled at the end of the month.

Once the cheques are recorded you can make the entry for your payroll remittance, based on the amounts in the liability accounts.

Last updated on May 19, 2020 by FCC AgExpert