Payroll Crossing Two Fiscal Years
Different ways to process payroll:
Enter Payroll Checks
miTime
Enter Payroll Checks
In Modify Existing Employees>Wage tab, update the Hourly rate or Annual wage field to the new rate and close. In Enter Payroll Checks, enter the hours at the new rate like normal (PC 1-00 and enter hours). For the hours at the old rate, enter PC 1-00 again, enter the hours, and then enter the old rate in the Rate field.
You can export the Table Lists – Current Pay Proof report to record the year-end split journal entry.
miTime
You have three different options.
1. You can do two different downloads and edit the rate in Enter Payroll Checks.
2. You can export one group of hours (hours at the old rate or hours at the new rate) to Excel, and then import into Connect using miExcel Payroll with the rate that corresponds to the hours.
3.You can set up a separate pay period and process two payrolls. When you set up the separate pay period, you can use the same check issue date, but you do have to process payroll twice. The Monthly period number for one of the payrolls should be set to 5 so insurances are not deducted twice. The pay period with the most hours should include the insurance deductions.