In a similar but different method to Karen's, we also record the payment
through payroll in Vantage (it is given it's own check number series
different than our paychecks so these checks are quite obvious). We created
a pay type of Sick Pay as Karen does subject to all the applicable taxes,
BUT I do not do not set up the deduction for sick pay. This way, at year
end, the sick pay is on the W-2, and the taxes are recorded properly. When
the check is cleared on the Bank Reconciliation, I enter a Bank Adjustment
to record a deposit to the payroll cash account(debit) and a credit to the
payroll expense account. The only General Ledger entry I have to make is
for the employee portion of the FICA taxes because I do not choose to
disable them when cutting the payroll check (net amount is correct if I
don't remove the employee's share of FICA). Then, when I issue the 941, I
use the line for sick pay adjustment and everything works out beautifully.
Deb Wilmoth
Controller
Reeder & Kline Machine Company, Inc.
Vantage 5.0
-----Original Message-----
From: Karen Brodniak [mailto:karen.brodniak@...]
Sent: Tuesday, February 25, 2003 2:09 PM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Payroll: 3rd Party Disability Payments
I would set up a new pay type for 3rd Party Sick Pay, subject to Employer
Soc. Sec, Medicare, etc. Each state is different but we are in Washington
and 3rd Party Sick Pay is not listed as taxable for SUTA. It is questionable
for FUTA, so I would check that out.
Then I would set up a deduction for 3rd Party Sick Pay. The deduction will
wash the gross out of the GL account and the taxes will be recorded to the
correct "buckets." You can do this on a separate check or add it to a
regular paycheck. The net effect to the employee will be .oo.
Karen Brodniak
Accounting Manager
Westwood Precision, Inc.
Phone 425-742-7011 x44
Fax 425-353-8945
karen.brodniak@...
-----Original Message-----
From: Robert Christian [mailto:bobc@...]
Sent: Tuesday, February 25, 2003 9:52 AM
To: vantage@yahoogroups.com
Subject: Re: [Vantage] Payroll: 3rd Party Disability Payments
Yes I handle in a rather primitive way, but it works
because it usually does not add up to a lot 3-4 thousand a year. I wait
utill I get the final year end report from the disability company add it
to
the suta futa etc forms paying the tax then I then issue a seperate w2 via
adams forms and keep the whole disability issue away from vantage.
through payroll in Vantage (it is given it's own check number series
different than our paychecks so these checks are quite obvious). We created
a pay type of Sick Pay as Karen does subject to all the applicable taxes,
BUT I do not do not set up the deduction for sick pay. This way, at year
end, the sick pay is on the W-2, and the taxes are recorded properly. When
the check is cleared on the Bank Reconciliation, I enter a Bank Adjustment
to record a deposit to the payroll cash account(debit) and a credit to the
payroll expense account. The only General Ledger entry I have to make is
for the employee portion of the FICA taxes because I do not choose to
disable them when cutting the payroll check (net amount is correct if I
don't remove the employee's share of FICA). Then, when I issue the 941, I
use the line for sick pay adjustment and everything works out beautifully.
Deb Wilmoth
Controller
Reeder & Kline Machine Company, Inc.
Vantage 5.0
-----Original Message-----
From: Karen Brodniak [mailto:karen.brodniak@...]
Sent: Tuesday, February 25, 2003 2:09 PM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Payroll: 3rd Party Disability Payments
I would set up a new pay type for 3rd Party Sick Pay, subject to Employer
Soc. Sec, Medicare, etc. Each state is different but we are in Washington
and 3rd Party Sick Pay is not listed as taxable for SUTA. It is questionable
for FUTA, so I would check that out.
Then I would set up a deduction for 3rd Party Sick Pay. The deduction will
wash the gross out of the GL account and the taxes will be recorded to the
correct "buckets." You can do this on a separate check or add it to a
regular paycheck. The net effect to the employee will be .oo.
Karen Brodniak
Accounting Manager
Westwood Precision, Inc.
Phone 425-742-7011 x44
Fax 425-353-8945
karen.brodniak@...
-----Original Message-----
From: Robert Christian [mailto:bobc@...]
Sent: Tuesday, February 25, 2003 9:52 AM
To: vantage@yahoogroups.com
Subject: Re: [Vantage] Payroll: 3rd Party Disability Payments
Yes I handle in a rather primitive way, but it works
because it usually does not add up to a lot 3-4 thousand a year. I wait
utill I get the final year end report from the disability company add it
to
the suta futa etc forms paying the tax then I then issue a seperate w2 via
adams forms and keep the whole disability issue away from vantage.
----- Original Message -----
From: <jannie_herman@...>
To: <vantage@yahoogroups.com>
Sent: Tuesday, February 25, 2003 12:19 PM
Subject: [Vantage] Payroll: 3rd Party Disability Payments
> Hi All:
> I am new to Vantage Financials (we went live 01/03). We currently
> have employees on medical leave. We pay premium for disability
> income.Insurance company issues checks directly to employee,
> withholds employee FICA SS & FICA Med, mails checks to our office.
> We are responsible to pay employer portion FICA SS & FICA Med, also
> report on W-2 or 1099. We are responsible to pay SUTA & FUTA tax on
> these "wages" (up to the Wages Limits of each tax). When these
> employees come back to work, the Payroll does not know of the
> disability "wages" and will continue to calculate tax up the the Wage
> Limits accordingly, plus these are taxable "wages" for Federal and
> state income tax. I am currently recording in G/L (FICA SS, FICA
> Med/SUTA Tax, FUTA Tax). Does anyone know how to get these records
> into employee file? (Epicor support said this if the first question
> like this and have put in a request for enhancement) I was
> considering "making check" in payroll, post to G/L, then reverse part
> of entry not needed in G/L(i.e. Gross Disability payment, Net
> check). DOES ANYONE HAVE THE SAME/SIMILAR PROBLEM! Thanks for any
> help/suggestions.
>
>
>
> Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must
have already linked your email address to a yahoo id to enable access. )
> (1) To access the Files Section of our Yahoo!Group for Report Builder
and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
> (2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
> (3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
>
> Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
>
>
>
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Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must
have already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
[Non-text portions of this message have been removed]
Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must have
already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
[Non-text portions of this message have been removed]