We are happy to inform you that we have made some adjustments to processing bonuses through our new Paydeck module allowing you to make the adjustments that may be required for your year-end bonus processing. This includes:
- Fica Only Entries
- Net check entries
- Turning off Direct deposits
To learn more about how to do this we offer comprehensive resources to help you get familiar with PayDeck:
- PayDeck Articles
- PayDeck Videos
If you’re interested, we’d be happy to arrange a training session to get you set up and comfortable with the system before year-end.
If you have any questions, please feel free to reach out.
Here are some additional tips to keep in mind when planning your bonuses:
- Advance Planning and Submission: Start early to allow time for finalizing bonus amounts, understanding tax implications, and submitting to payroll well before deadlines. This ensures time for processing, review, and any necessary adjustments.
- Review Tax Setup: Confirm that the correct code is used for bonuses. If there are special requirements, such as “FICA-only” bonuses or bonuses taxed annually, please ensure these are correctly entered in the system, or inform Brand’s if submitting offline.
- Verify Employee Information: Ensure that employee details, including Social Security numbers, addresses, and tax withholdings, are up-to-date to avoid issues with state and local taxes. For New Jersey employees, ensure birthdates are recorded, and for disability reporting, verify that genders are correctly specified.
- Coordinate with Brand’s: Contact us with any questions or special requests to ensure all aspects of bonus processing are accurate and timely.