CENTRAL SUSQUEHANNA INTERMEDIATE UNIT Application: Personnel. Budgeting Process for Salaries and Benefits Step-by-step Instructions

Transcription

1 CENTRAL SUSQUEHANNA INTERMEDIATE UNIT Application: Personnel Budgeting Process for Salaries and Benefits Step-by-step Instructions 2013 Central Susquehanna Intermediate Unit, USA

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3 Table of Contents Introduction... 1 Budgeting Information... 2 Employee Salary Information... 2 Employer Share of Benefits... 3 Mandatory Benefits... 3 Fringe Benefits... 3 Account Information... 4 Budgeting Process in Personnel... 5 Steps in the Budgeting Process Central Susquehanna Intermediate Unit, USA

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5 INTRODUCTION This Step-by-Step Guide will review how to use the salary module to provide salary and benefit information for budgeting and how to transfer that information into the Budget Prep Module in Fund Accounting. In this Step-by-Step instruction you will learn: Where employee salary information is pulled from Where the employer expenses for insurances, retirement and taxes come from Where account information comes from How to update account information Which reports are used for budgeting How to update Budget Prep with salary and benefit information What to do after budgeting is complete Revised: 05/14/ Central Susquehanna Intermediate Unit, USA Page 1

6 BUDGETING INFORMATION A significant amount of your budget is due to your employee s wages and benefits. Using the Personnel application to assist in the budgeting process will save time. In addition, the information can be used for multiple purposes. Employee Salary Information Information entered into the SALARY > PROPOSED EMPLOYEE SALARY INFORMATION screen can be used for budgeting. To review how these records are created refer to the video and printable materials available for: Creating Contracts (Salary, Hourly/Salary, Hourly or Daily) Compensations Calculate/Edit Proposed Salaries Adding records Revised: 05/14/ Central Susquehanna Intermediate Unit, USA Page 2

7 Employer Share of Benefits Mandatory Benefits Payroll-related expenses are part of the FRINGE BENEFITS directory and are shown on the Mandatory Deductions tab. This information is defaulted based on the most current Rates record in Payroll when the record is created. Changes to the PSERS Retirement rate should be expected. Additional changes may be needed. Fringe Benefits Insurance information for budgeting is created on the Fringe Benefits tab, based on information pulled from two locations. Insurance coverage (which plans and types each employee has) Insurance costs (the annual cost of each plan and type) Insurance coverage information is selected based on EMPLOYEE INSURANCE INFORMATION records. Current records are determined to be eligible for the budget year selected. Insurance costs are not pulled from the current plan and type records, but rather from the SALARY > FRINGE BENEFITS directory. The annual amounts are defaulted based on current INSURANCE PARAMETERS Plan/Type monthly rates. The annual amount can then be adjusted based on expectations for the following year s expenses. For more information on setting up this directory, refer to the video and printable materials available for Setting up a Fringe Benefit Directory Record. Revised: 05/14/ Central Susquehanna Intermediate Unit, USA Page 3

8 Account Information When preparing your budget, in addition to salary and benefit amounts, the appropriate account codes to be associated with those expenses must be identified. Account information is entered for budgeting purposes by selecting the Download Account Codes menu item to pull information from the Payroll application into the SALARY module. After accounts have been downloaded, manual changes to that information can be made in the EDIT ACCOUNT CODES screen. Changes to account information stored here does not affect the Payroll application. For more information, refer to the video and printable materials available for Downloading and Updating Account Codes. After account information has been identified for each employee contract record, generate reports to assist you in verifying that the totals are correct before you POST PROPOSED SALARIES TO BUDGET PREP. Revised: 05/14/ Central Susquehanna Intermediate Unit, USA Page 4

9 BUDGETING PROCESS IN PERSONNEL Steps in the Budgeting Process 1. Create the contracts in the SALARY CONTRACT INFORMATION screen that are needed for the budgeting process. 2. Create the PROPOSED EMPLOYEE SALARY INFORMATION records using the MASS ADD FOR EMPLOYEE SALARY option, the CALCULATE/EDIT PROPOSED SALARIES option, or manually adding records. 3. Review the Salaries Report to verify that the information is complete and correct before continuing. 4. Perform the ACCOUNT CODE DOWNLOAD process. 5. Update account code information using the EDIT ACCOUNT CODES menu item for any changes needed in the budget year. 6. Select the FRINGE BENEFITS directory to create/update the fringe benefit record needed for the budget year. 7. Generate budgeting reports to verify information. The following reports are considered budgeting reports as they include account information and employer benefit amounts in addition to annual salary amounts. These reports can only be generated using PROPOSED EMPLOYEE SALARY INFORMATION records. Benefits Calculation Report Projected Employee Benefits Report-includes a file option Post Proposed Salaries to Budget Prep / Summary Please review the information on Verifying Budget Reports for more information. 8. After verifying the reports, make changes if needed and re-verify. 9. Select the POST PROPOSED SALARIES TO BUDGET PREP menu item and select the Post to Budget Prep option to update Fund Accounting. Information that is transferred to BUDGET PREP from the Personnel SALARY module is identified with a red asterisk that is visible on the LINE ITEM ENTRY screen in Fund Accounting. The contract code and date stored with the transferred information can be changed in Personnel and retransferred to Fund Accounting if needed; this information can NOT be changed in Fund Accounting. Do not create a new contract code and date for the same information and transfer it to Fund Accounting for the same employees, as this will add new information not replace information. 10. After the contract information has been transferred to Fund Accounting, and if the amounts are accepted and no changes will be needed, select the POST TO EMPLOYEE SALARY HISTORY menu item. The budgeting process for this contract is now complete. After this information has been moved to the EMPLOYEE SALARY HISTORY screen, it can be used to update Payroll or other modules in the Personnel application. Revised: 05/14/ Central Susquehanna Intermediate Unit, USA Page 5