payroll

[Kevin T. Broderick]

On 26 May 2005, at 9:22 PM, Brian wrote:

> [CHOMP]
> Now a question for the knowledgeable gnc devs:
>
>    The number and types of incomes, deductions, etc. can be quite  
> varied
> depending on the users needs.  I was thinking that something  
> similar to
> the accounts view and editing features should work.   The primary
> difference would be the different types such as:
>     Income
>         --Hourly
>         --Salary
>         --Commission
>
>     Deductions
>         --Employment Insurance
>         --Pension Plan
>         --Federal Tax
>         --etc.

Just a note on types of income...you might also need to account for  
charge tips (where customers pay for something including a tip with a  
credit card and the company includes the tips for a pay period in the  
paycheck) or taxes on reported cash tips.  At least in Vermont, those  
tips are subject to an entirely different formula for taxation (I  
believe it's based on total revenue and an assumption of workers  
being tipped at a certain percentage, i.e. they are taxed based on  
additional income of x% of total food sales, where x is a number in  
the vicinity of 5, regardless of actual tipping).  I don't know if  
anyone else is more familiar with a jurisdiction that does things in  
a similar manner, and I'm not entirely sure what the correct double- 
entry manner of accounting for cash tips would be (since they are  
neither income nor expense for the company but may need to be  
accounted for in tax calculations).

If no one else has encountered a similar situation, I'll try to dig  
further into this one; I'm only semi-aware of it now due to being in  
the vicinity of payroll operations for restaurant operations.

Kevin Broderick / kbroderick at smcvt.edu

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