All You Need to Know About Payroll Dates
- Check Date: Check Date is the single most important date in the CYMA Payroll System. The check date, and the check date alone, determines the appropriate Year and Quarter for updating Employee, Company and W2 Balance files, regardless of other settings in the Payroll System.
- Maintain Configuration – Current Payroll Year: The primary operational use of the Current Payroll Year setting in Maintain Configuration is to know which Payroll Year Tax Tables to use when the “Calculate” button is pressed in Process-Calculate Payroll. Since a check date is not determined until after the Calculate Payroll Process, the system needs to know which year to use when calculating payroll.
- Maintain Configuration – Current Payroll Quarter: The only use of the “Current Quarter” is to easily run reports which access the current quarter of the year for reporting purposes.
- Pay Frequency – Start and End Dates: The Pay Frequency Start and End Dates are used to provide easy reporting for all payroll checks processed with a certain range of dates. Each check, regardless of check date, is stamped with the Current Pay Period Start Date and End Date at the moment the check is made. The check then “belongs” to that pay period and reports that pick up all entries in a pay period will report upon that check, regardless of actual check date. The Pay Frequency End Date is also the General Ledger posting date if “Post on Transaction Date” is selected (as opposed to “Post on Check Date”) in Maintain Configuration.