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Running Payroll

Process payroll accurately and on time with SyncBooks's automated system.

Payroll Processing Steps

  1. Review Time Entries: Verify all employee hours are recorded
  2. Check Deductions: Confirm benefits, 401(k), and other deductions
  3. Preview Payroll: Review calculated amounts before processing
  4. Approve Payroll: Submit for processing (must be done 2 days before payday)
  5. Direct Deposits: Funds are transferred on payday
  6. Pay Stubs: Automatically generated and emailed to employees

Sample Payroll Calculation

Employee: John Smith

Earnings

Regular Hours (80 hrs × $25/hr)$2,000.00
Overtime Hours (5 hrs × $37.50/hr)$187.50
Bonus$500.00
Gross Pay$2,687.50

Taxes

Federal Income Tax-$322.50
Social Security (6.2%)-$166.63
Medicare (1.45%)-$38.97
State Income Tax (5%)-$134.38
Total Taxes-$662.48

Deductions

Health Insurance-$150.00
401(k) Contribution (5%)-$134.38
Dental Insurance-$25.00
Total Deductions-$309.38
Net Pay$1,715.64

Employer Costs

In addition to employee's gross pay, employers pay:

Social Security Match (6.2%)$166.63
Medicare Match (1.45%)$38.97
Federal Unemployment (FUTA)$42.00
State Unemployment (SUTA)$80.63
Workers' Compensation$53.75
Total Employer Taxes$381.98
Total Cost to Employer$3,069.48

Payroll Schedule Options

Weekly

52 pay periods per year

Best for: Hourly employees, construction

Bi-weekly

26 pay periods per year

Best for: Most common, easy to calculate

Semi-monthly

24 pay periods per year (1st and 15th)

Best for: Salaried employees

Monthly

12 pay periods per year

Best for: Executives, international

Off-Cycle Payroll

For bonuses, commissions, or corrections:

  1. Navigate to Payroll → Off-Cycle
  2. Select employees to include
  3. Enter payment amounts and types
  4. Choose payment date
  5. Submit for processing

Payroll Checklist

  • Verify all time entries are approved
  • Review any changes to employee information
  • Check for new hires or terminations
  • Confirm benefit deductions are correct
  • Verify sufficient funds in bank account
  • Submit payroll 2 business days before payday

Automated: SyncBooks automatically calculates federal, state, and local taxes for each payroll run.