So your boss has decided everybody has worked really hard this month, and everybody gets a bonus of $500 on their next paycheck. Happens all the time, right? Well, when it finally does happen, Timecards is how you would do it.
First, you will need an Earning setup for your bonus. In Earnings and Deductions in Payroll Setup, enter in a new code/description/short description. Here's the rest of the settings:
- Category: Earning
- Type: Salary & Wages
- Employee Calc. Method: This one varies, but for the example above, use Flat
- Frequency: Unless your boss really does want to give you a bonus every month, switch this to Quarterly
- Level: Unless you have a good reason, this level should be the same as your standard earning
- Starts: This one doesn't really matter for this
In addition to this, you will want to check Print Earning/Deduction on Check. If you're running Canadian Payroll, select Non-Periodic Payment. That makes your taxes calculate as expected.
In the Employee tab, add all the applicable taxes. If you choose to skip this part, employees will get the $500, but will have to pay the taxes later when they do income taxes.
In the G/L Dist tab, add in a GL Distribution code, and its respective GL Accounts.
Now, in Payroll Timecards, pull up each employee who's getting the bonus. In Timecard, it just needs a unique number, like "1". The Period End Date should be fairly self explanatory. In the grid below, add the new Bonus Earning, and under Rate/Amt/Pct, put the amount of the bonus in. Add this, and repeat for every employee.
When you calculate payroll, do it as normal, and ensure the Quarterly Earning checkbox is selected, and when you print your checks, voila! You and all your co-workers have their bonus! Don't spend it all in one place!
P.S. We've identified a potential problem with Job-Related Payroll Timecards, so if you use these, along with FLSA OT in US Payroll, or Regular Rate Hourly/Salary Hours in Canadian Payroll, check your Payroll Job Register and PJC Detailed Transaction Report have values which are reasonable and expected. Be sure to apply Solution 25786 to prevent this from happening in the future.
