Provides live and after-the-fact employee payroll with additional portal access available on the Internet. Also included are MICR check printing, direct deposit, e-filing quarterly and yearly employment tax forms, and e-filing Forms W-2 and 1099-MISC.
When multiple locations have been established, set up multiple benefits, deductions, and pay rates per location. Print payroll on one check for all locations or one check per location.
Employee Payroll supports direct and indirect tips, and unlimited payroll benefits and deductions per check.
Forms 940, 941, 941SS, 941X, 943, 943X, 944, 944X, 944SS and W-2 are supported, as well as most state quarterly unemployment forms. Payroll journal entries can be created from payroll checks entered, to save keystrokes.
Set up a custom chart of accounts, import from an existing client or use a template.
During setup, change account information as needed, add account levels, enter current budget, starting balances, and export to Drake Tax Software.
Make journal entries to one of the five separate journals - general, cash receipts, cash disbursements, payroll, or budget - or save time and have Drake Accounting do it automatically.
Reconcile cash amounts, post monthly transactions and close at year-end, and format financial reports using custom headers, footnotes, and logo.
View or further customize any of the financial reports using most word processors.
Vendor Payments & Accounts Payable
Print and track payments (live or after-the-fact) to vendors (1099-MISC) and other payees.
Pay vendors by direct deposit, and, for payees, pay by invoice or simply use the check writer with little or no setup involved. At year-end, create Forms 1099-MISC and print or e-file when needed.
Send invoices and customer statements and post customer payments, penalties, and service charges.
Track past-due monies and monitor sales tax liabilities (state, county, and local).
Define individual customer credit limits, discounts, and applying a single payment to multiple invoices.
Create these federal forms for printing or e-filing:
Forms 940, 941, 941SS, 941X, 943, 943X, 944, 944SS, 944X
Forms W-2, W-2G, W-3, W-2C/W-3C
Form 1098 Mortgage Statements
Forms 1099-A, B, C, DIV, INT, MISC, PATR, R, and S
Secure client information by job function: admin, office manager, or data-entry
Use spreadsheets to import initial client data: employees, vendors, customers, chart of accounts, and journal entries
Print all forms and documents in PDF format
Print mailing labels for employees, vendors, and customers, using 3 1/2” x 1 1/8” roll or sheet labels
Override the default Payroll General Ledger accounts for an employee or vendor
Post payroll journal transactions automatically
Optionally print other information on paystubs
Enter as many payroll deductions and benefits as needed
Customize federal, state, and local withholdings and rates
Indicate vendor default accounts for cumulative entries to the journal and by 1099-MISC box categories
Allow clients to initiate and track employee payroll through the web portal
Provide batch reports for clients through the web portal