Aug 17

NO MORE HASSLE PREPARING EMPLOYEE TD5's

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Do you dread having to prepare employee TD5s every year before the deadline? With the CUBE system all employees payroll information for the year is consolidated automatically so you don't have to do them manually!!! Just download, print and stamp. These are accepted by the Inland Revenue Department.

TD5 sample formPNG

 

 

HOW MUCH TIME WILL THIS FEATURE SAVE YOU????

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  • General Ledger (Setup) The general ledger is an accounting document that provides a general overview of an organization's financial transactions. An account, or general ledger ( GL ) code , is a number used to record business transactions in the general ledger. Prior to setting up your GL report please ensure that all Earnings, Allowances & Deduction Types are setup correctly ( refer to notes on “Payroll Info Setup”) Step 1 - Select ‘Add New GL Entry’ 1. Select a unit by which you wish to track payroll cost. CUBE allows businesses to develop GL reports by Department, Division, Job Title, Location & Team. 2. Select the type of GL you wish to setup. a. Select Allowances, Benefits, Deductions, Earnings, Employee if you wish to display these payroll expenses separately in the GL (is GL Item). E.g. Selecting “Allowances” will enable user to represent expenses like Travel, Housing & all other allowances paid to staff. b. Payroll Item is used when payroll expenses in the GL needs to be grouped, such as Gross Pay, Net Pay, Total Allowances, Total Deductions etc c. Salaries groups all Earnings & Allowances marked as “Is Salaries” ( refer to notes on “Payroll Info Setup”) and display these values in the GL as a single amount under the description “Total Salaries.” Total salaries can include Regular Pay, Overtime, commission, Travel Allowance etc…. d. Salary Control is the sum of (Net Pay + Taxable Deductions – Total Staff Loans +Total Salary Advances) e. c. Salaries & Wages Control allows users to report more extensively on all types of employee deduction. . Step 2 – Enter General Ledger Info In the example above the user has selected “Department” as the Unit and “Earnings” as the General Ledger Type (highlighted in yellow above). Users can also group departments with similar GL Codes. Step 3 – View General Ledger Info You can review/edit all General Ledger reports by selecting the view option in your control panel: These GL reports can be found in their respective “Payroll Summary Reports” and can be downloaded via pdf or .csv for easy upload into your accounting software. API integration also available.
  • PAYEES Setup Payees (Definition) - a person or institution to whom money is paid or is to be paid. Therefore payees could be banks, credit unions, various lending institutions, insurance companies & employees. Step 1: Go to Control Panel Step 2: Select ‘Add New’ Complete the required fields: 1. Enter full name of Payee (E.g. Simpson Finance Limited) 2. Enter Short Code (E.g. SIMPSON). This code aides with sharing this data across various software platforms (uploads/downloads) 3. GL Code – NA 4. Description – Optional 5. Payee Type – helps us to group and report on various payee assignments. 6. Routing # - A 9 digit number used to identify ECACH member banks. These banks include: a. Bank of Saint Lucia - 000000369 b. First National Bank – 10000337 c. FCIB/CIBC – 093860105 d. Republic Bank (Castries) – 604750028 e. Republic Bank (Rd. Bay) – 742450028 f. Republic Bank (Vieux-Fort) – 207350029 g. RBC Royal Bank (Castries) - 094750036 h. RBC Royal Bank (Baywalk) – 099730035 i. RBC Royal Bank (Rd. Bay)- 094650039 j. RBTT (Castries) - 018000034 k. RBTT (Sunny Acres) – 018110034 l. RBTT (Baywalk) - 018130030 m. RBTT (Vieux-Fort) – 018120037 7. Branch/Bank Code – is the last 4 digits of the routing number. 8. Transit Number – is the first 5 digits of the routing number. 9. Currency Code – NA (default set to XCD) 10. Payee Contact Info – useful especially if you intend on emailing employee deductions/payments to Payee. 11. Payee Accounts - shows a list of all employee accounts attached to the PAYEE. When a new Payee is being added you are required to “Remove” the empty Account type fields.
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HRM Solutions Inc. 

Cas-En-Bas, Gros-Islet, St.Lucia

Telephone: 1 (758) 722- CUBE (2823)

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