Are you planning an end-of-year bonus payroll for employees? With only five weeks left in 2013, now is the time to schedule any additional payrolls you need.
Schedule Separate Pay Runs for Bonuses
Many employers like to distribute bonus checks at a firm party or get-together. If the bonus checks are included with a regular pay run, the year-to-date amounts on the employees’ stubs will reflect the bonus. To keep the bonus amounts off the pay stubs from the regularly scheduled payroll, schedule an additional payroll dated after your last regular payroll, but before the party or other event where you plan to distribute the bonuses. Remember to allow at least two days after the day you plan to transmit bonus amounts for the payroll to be processed and shipped.
Stop Direct Deposit to Create Live Bonus Checks
If processing your payroll online, check the Stop Direct Deposit box on the Payroll, Dates screen to stop direct deposit for all employees. To stop direct deposit for selected employees, check the Stop Direct Deposit box on the Pay Detail screen. Otherwise, indicate which direct deposits you would want stopped when you submit your payroll. Stopping direct deposits in this manner would apply only to that payroll and direct deposit would be reestablished for the next payroll.
Schedule Bonus Payroll Early
By scheduling bonuses early, Vision Payroll can work with you to help ensure that your bonus checks arrive on time.