- Auto Payroll Interface – import electronic file for entry of payroll deduction amounts.
- Employee Payroll module with Paychex – You can handles all payroll functions, tax collection and remittance, W2 forms, emails employee pay stubs, direct deposit of net pay and automatic posting into general ledger.
Enhanced G/L-integrated subsidiary ledger for fixed assets, pre-paid/deferred expenses and accrued expenses with automated recurring JCR posting
Automatic Payroll Interface
The Automatic Payroll Interface Option allows you to receive payroll deduction information through a diskette or modem. Files are run through the FedComp system, and the appropriate deductions are automatically recorded.
FedComp maintains a list of payroll file specifications for the Automatic Payroll Interface. The payroll interface file is a line-delimited ASCII text file. There are no requirements for the name of the payroll file.
Often a credit union manager will want to post the payrolls using a number other than the member's account number. The FedComp system accommodates this by giving the manager the ability to assign each member an ID#. The ID# can be any number such as the member's social security number, employee number, clock number, etc.
Employee Payroll Interface
Interface for PayCycle® Employee Payroll option
Enhanced G/L (Fixed Assets, Pre-paid, Deferred, Accrued Expenses)
Enhanced G/L is a subsidiary account system that is completely integrated to the General Ledger making reconciling easy and instantaneous.
- Increase the efficiency of your operation. There are no more spreadsheets or manual ledgers to maintain.
- Periodic expenses postings are made automatically.
- Detailed ledgers are maintained in accordance with NCUA Accounting rules and GAAP.
- Allows detailed tracking of all fixed assets (furniture and equipment) with separate ledger pages for each item. Track depreciation expense and salvage values automatically.
- Track and automatically expense all prepaid items such as dues, subscriptions, insurance, maintenance, annual meetings and NCUA fees.
- Automatically accrue and expense for purchases that will be incurred in the future.
- Track item #, description, purchase date (or start date), total price, maturity, monthly cost and accumulated depreciation on all fixed or prepaid and deferred assets.
- Maintain detailed listings of all individual monthly expenses.
- Maintain separate Trial Balance for fixed assets, prepaid/deferred expenses and accrued expenses.
- Automatically post monthly expenses and changes to subsidiary and general ledgers simultaneously.