In Payroll you process your company's payroll for all posted timesheets, or for timesheets posted within a particular date range, and then generate employee paychecks and direct deposits.
You can meet increasingly complex regulatory requirements, by defining taxable wages based on any withholding that you create. In addition, you can define how other pay wages impact a withholding calculation. You do this from Payroll Withholding Setup.
In Payroll you also perform the following tasks:
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Process multiple payroll runs simultaneously.
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Pay employees different rates based on the project or on effective dates.
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Assign a default bank to use for all employees of a particular organization.
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Produce payroll posting logs.
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Process and print W-2 forms.
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Print worksheets that help you fill out state unemployment insurance reports, quarterly state income tax reports, and federal Forms 940 and 941.
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Set up a default bank for each organization, in Organization General Setup
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Review the Payroll Posting log to see General Ledger accounts affected by posting a payroll run.
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Review the Payroll Journal to see posting detail, including an employee's pay rate in effect at the time of posting, benefit hours, and direct deposit information.
To process payroll, Vision uses information from the Employee Info Center, the Project Info Center, the Transaction Center, and Accounting Cost/Pay Rate tables.