Setting up Payroll is easy. Follow these steps:
1) Sign into FINSYNC
2) Click on the Payroll Tab near the top of the page
3) Choose from the appropriate setup choices
- With Tax Reporting & Remittance - FINSYNC files payroll tax returns and remits payroll taxes for you.
- Without Tax Reporting & Remittance - You will file payroll tax returns and remit payroll taxes yourself.
- Without Payroll Tax Calculations - You don't withhold payroll taxes and only need payroll for 1099 contractors.
Note: If you do not choose the "With Tax Reporting & Remittance, skip to step 4 near the bottom.
WITH TAX REPORTING AND REMITTANCE (if selected)
a) Select your payroll frequency from the drop-down:
- Every Other Week
- Twice a Month
- Once a Month
b) Enter the Period Start date of the first FINSYNC Pay Period
c) Enter the date of the first FINSYNC payroll
d) List the last Payday before starting with FINSYNC
e) Click "Continue"
If your company is EXEMPT from State or Federal Unemployment Tax, check the appropriate box(es).
a) Fill in State Unemployment Rate
b) Enter State Withholding Tax ID
c) Enter State Unemployment Tax ID
d) Choose the State Deposit Frequency
a) Enter Federal Tax ID: XX-XXXXXXX (9 digits)
b) Choose the Federal Deposit Frequency
- Every Other Week
c) Click "Continue"
The default contact will be the person with whom the account was initialized. You may add as many contacts as your would like using NAME, EMAIL and PHONE #.
If applicable, you may elect for FINSYNC to remit deductions and contributions to your benefit providers (e.g. health insurance and retirement account).
You may elect to have FINSYNC automatically debit your bank account for all payroll related items - Employee Direct Deposit and tax remittance. There is also an option for you to choose to have FINSYNC process any live checks for you. Otherwise you are responsible for processing any live payments to associates.
4) Choose "Finish Setup".
You are now ready to add your associates (Learn How)
You May Also Be Interested In:
- Payroll: How to Use Reports
- Payroll: Setting Custom Pay Rates
- How to Set Up Employee Benefits to be Paid Outside of FINSYNC
- How to Set Up Employee Benefits to be Paid Through FINSYNC
- Payroll: How to Add Associates (Employees & Contractors)
For more articles related to the FINSYNC Payroll service (Click Here)
For the complete list of articles, return to the FINSYNC How-To Guide: (Click Here)