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Payroll: Partner
How Does Payroll Work? | * The contractor’s payroll is based off the percentage (60/40, 70/30, 80/20, 90/10) agreed to in the individual’s contract agreement. * Contractors set their own prep fees within the software and which will also include the Service Bureau, Transmission, and Bank Fees for each client. * Once funds are released from the IRS, payroll is processed the following week for those funds. Payroll is paid one week in arrears |
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When is Payday? | * Payroll is processed on Wednesday of each week and payday falls on Friday depending on the individual’s bank. * Once funds are released from the IRS, payroll is processed the following week for those funds.. |
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What Affects Payroll? | There are restrictions that can delay payroll from being processed as scheduled: Advances: PreAck & Inseason Remaining Balances: * If you have a remaining balance remaining from original invoice. Taxpayer Files: * Contractors must submit a complete file for each client that is ACCEPTED in order to receive a payout. Taxpayer files are required and failure to submit your files will result in a hold on payroll. Your responsibility to upload daily to ensure all taxpayer files are complete |
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| Open Payroll 2018 – 2019 Support File | |
| Google Drive. Open all responsible offices in one window that are on current payroll. (I have provided a list of your offices in numerical order) | |
| Payroll Breakdown Example & 1.5 -2.5 Tab | (Applies to offices that have not received any payroll yet this year) Delete & Replace with updated Payroll Breakdown Example. Example office Lisa Taylor 150029 |
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| Protect Sheet > Set Permissions > Ensure Info & Support emails are ONLY included | |
| Insert current Week payroll details to designated office | Add 2.10 – 2.16 Payroll Details TAB per EFIN (Start with SSN Column. Col E) Select 1 EFIN at a time > Copy & Paste details within correct office. SUM amounts should be on TOP line Insert Total & Non BP Line (Ensure that the totals of the following are correct |
| Add TP Loan Status Report per EFIN (Start with Appliaction Date Column. Col B) | |
| Protect Sheet > Set Permissions > Ensure Info & Support emails are ONLY included | |
| Organize your tabs apporiately TP Files > Payroll Breakdown Example > Taxpayer Loan Status > Most Current Payroll > Old Payroll | |
| STOP | STOP |
| Business Accounts (EIN): Company Contractor | No Flex account access. Keystone must manuallly add DD for business account with EIN |
| Business Accounts (SSN): Company Contractor | Can go onto the website to update profile |
| DD Increase | Submit wire transfer request over 750K by 530 EST the day before |
| Importing Payroll | Match each office EFIN to flex ID for easy import |
| Identify of contractor payroll account will be an individual account or business. Verify this in the CRM, under admin tab, in the Direct Deposit section | |
| Add Contractor and Update Paychex profile Name: Individual or Business Update All *required fields / Custom Fields | |
| Send Invite Link for Individual accounts so that contractor is able to update their profile Update Opportunity to Direct Deposit Set Up | |
| Verify updates in tasks on paychex dashboard to see which offices have updated their Paychex profile. Once verified then test deposit must be sent | |
| Send Test: Update Opportunity to Direct Deposit Test Sent | |
| Verify DD Confirmation Responses on Google sheet | |
| If DD is Confirmed, move opp to DD confirmed Update field DD Confirmed: YES | |
| If DD is NOT Confirmed, Move opp to DD Not Confirmed Update field DD Confirmed: NO |