Kevin T. Broderick wrote:
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.
I can tell you, as a restaurateur, that the last thing the employer
wants to do is claim any amount other than what the employee reports for
tips, because doing so makes you liable for the actual amounts if they
differ. I'm a not a Vermonter, so I can't speak to that.
I envision one or more types of generic payroll additions and
deductions. There are a variety of things that come up:
potential additions:
Tips reported (for taxing purposes)
bonuses
mileage and other expense reimbursements (not taxable in US, but still
part of payroll)
retirement benefits
...
potential deductions:
Tips reported (as the employee already has them and we only need them
for taxing)
advance repayment
health care premiums
other employee paid "benefits"
retirement plan contributions
...
there' abig ol' pile of them. some are taxable, some are exempt from
taxing, some reduce the taxable income for federal withholding but not
ss & mcare etc etc etc..
A
Kevin Broderick / [EMAIL PROTECTED] <mailto:[EMAIL PROTECTED]>
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