Renewed payrolls module
Calculating payrolls has to be easy and understandable for anyone. Margn has improved payroll module by making it more easier and by integrating it with payroll taxes.
Margn has renewed its payroll module. Now it is integrated with payroll taxes and payrolls can now be added in form, instead of table.If you don’t have all payroll tax accounts listed in the payroll taxes list, go to Chart of Accounts and add taxes you need. Remember that balance sheet type must be payroll taxes.Margn calculates net salary automatically with Income Tax system account. What is that, you might ask? Income Tax system account is designated account for private income tax. To change it you must go to System Accounts module. Margn calculates income tax sum by the tax free sum and tax percent. Also you can add tax free percent that is the percent from gross salary that is not added to income tax. And the last subject calculating net salary is the other percent from gross salary that is collected and is not income tax.
Although Margn calculates taxes and net salary automatically with the tax percents and tax free sum, Margn team recommends checking over if numbers are correct.
If Margn calculations aren’t what expected, you can change tax percents, by setting them to zero in net salary calculations and to 100 in tax calculations.
This entry was posted in Accounting and tagged accounting, payrolls
. Bookmark the permalink
. Both comments and trackbacks are currently closed.