Lesson #121
Setup – Pay Dates function
When setting up your RB system and then at the beginning of each year, set up the year’s pay dates and their corresponding cutoff dates (last date for invoices to be included in pay) for each time period you use to pay resources (e.g., monthly, weekly, etc.). By setting up pay dates in advance, you can reduce the number of payroll errors caused by entering the wrong date when running payroll.
View existing pay dates
The Pay Dates function defaults to all pay dates entered this year. Each pay date listing shows the its date, Pay Group (different time periods you use to pay resources, e.g., monthly, weekly, etc.), cut-off date, and the date the payroll was closed.You can either add dates to the current year or change the year, if you want to enter next year’s pay dates for example.
When viewing the list of pay dates, you can sort the list by one or more columns in ascending or descending order (but when you exit the function, RB will revert back to the default order). Export the list as an Excel spreadsheet or a CSV (comma-separated values) file to save, print, share, or use in other applications.
Pay dates & cutoff dates
When you enter a new pay date, you also enter the last date for invoices to be included in pay, i.e., the cutoff date. RB calculates resource payment cutoff dates using invoice dates by default. But you can also use the date invoices are paid as the cutoff date for specific resources or all resources paid for jobs tied to one or more of your company’s business units (BUs). This preference is set in individual resource listings (under Original Term and Copy Term) and your BU listings.
You further define pay dates by selecting which Pay Group you are paying and which BUs’ jobs are included. You can include a description of the pay date listing and other notes.
Designate responsible business unit
If you have multiple BUs, you can also designate which BU will be responsible for issuing 1099s for this pay date. Instead of having to create pay date listings for each of your BUs, you can include multiple BUs in one pay date listing, and designate one BU to be responsible for issuing all related 1099s. It doesn’t have to be the BU tied to the jobs being paid for, and the default is your main office.
You can have multiple pay date listings on the same calendar date, or if every Pay Group will have the same cutoff date and BU(s), you can set one pay date for all groups.
Correcting errors
If you made a mistake setting up a pay date, you can delete it if payroll for that date has not been closed yet. Otherwise, you can make a note in the pay date’s Remarks field for future reference.
TL;DR: Set up pay dates for different pay periods (and different business units in your company, if desired).
RB concepts in this lesson
Business Unit (BU): One of your company’s revenue centers or any entity in your business that you want to track separately, such as branch offices, other companies you own, affiliates, and profit-sharing operations.
Cutoff Date: Last date for invoices to be included in a pay date. Default is the date of the invoice, but you can use the date invoices were paid for a single resource or all resources tied to a business unit/multiple BUs in your company.
Pay Groups: Categories of time periods your company uses to pay resources, e.g., Monthly, Weekly, On Demand. Group resources according to their pay period (frequency) to reduce errors when running payroll.
Resource: Person or thing that provides your business with a service, such as reporters.
