What is gross payroll

what is gross payroll

Welcome to the Office of Payroll Management's Paycheck Modeling Site!

You may use this site to model your pay. You may determine the impact on your net (take home) pay if you have changes to your gross pay, your tax withholding information or deductions that are tax deferred or tax exempt such as health or dental insurance, flexible spending accounts, retirement or a tax deferred savings plan (403b and 457).

Every effort has been made to provide an accurate model of your paycheck, but there are some complexities that are impossible to include.

Click here for information about the model.

Under all circumstances, you should consult with your personal tax advisor before making any decisions as a result of this modeling tool .

Some tips for using the model:
  • After this first page, use the "Continue" button at the bottom of subsequent pages to go to the next stage in the model. The "Reset" button will erase data you have entered in a form and wish to change. Use the "Back" button to return to previous pages and review your entries. The "Start Over" button will clear all your entries and bring you back to the first page of the model.
  • To fill in a value, type over the "0" in the entry box. Otherwise, leave the "0" in the box.

Let's get started. Do you receive your regular pay advice notice on a:

Monthly basis. Teachers,Instructional Assistants and other contracted educational and support staff are paid monthly. Monthly paid employees, depending on the contract/work year length receive their gross pay over 10, 11 or 12 months. Certain contributions and deductions are taken over 10 monthly pay periods (September through June) for all monthly paid employees regardless of contract/work year length. These include health and dental insurance, flexible spending accounts, long term disability, long term care insurance, optional life insurance and professional organization dues.

Biweekly basis. Bus drivers and attendants, food service workers, custodial staff and maintenance personnel are paid biweekly (every two weeks). Biweekly paid employees, depending on the contract/work year length receive their gross pay as worked over 20 to 26 pay periods. Certain contributions and deductions are taken over 20 biweekly pay periods (generally late September/early October through June) for all biweekly paid employees regardless of contract/work year length. These include health and dental insurance, flexible spending accounts, long term disability, long term care insurance, optional life insurance and professional organization dues.

This tool is not intended for use by employees that are working in a temporary/hourly capacity and therefore do not have a scheduled number of workdays and/or work hours.

About the Tax Model

  • The model does not take into account any court ordered payments or voluntary agreements (tax levies, child support, garnishments, etc) that you may currently have in place. If you have any of these, you may still use the tool, but recognize that any such deductions you have will continue to be taken from your checks and will therefore reduce the net amount calculated using this modeling tool.
  • Any employees who are covered by life insurance, or who cover dependents, might have 'imputed income.' Essentially, the IRS has a law that says if the value you receive from any life insurance policies is more than what you pay for those policies, you must pay taxes on that value. The IRS has tables that define this value. This paycheck model does not calculate any imputed income and the corresponding taxes, so your 'bottom

    line' might be off by as much as $40 and, in very rare cases, up to $120 different.

  • All employees working less than 12 months receive their gross pay over the length of their contract (10 or 11 months). Gross pay is distributed as it is earned, so teachers and others who do not work year-round are able to get the money due them faster! This also means that less than 12 month employees do not receive pay from FCPS during the summer months (July and/or August).
  • Less than 12 month employees may elect to set aside monies for the summer months on their own. FCPS allows an employee to distribute each pay to as many as three different financial institutions giving an employee the flexibility to bank with multiple institutions and develop a savings plan that best meets their individual needs.
  • Effective January 2012, all employees will have certain benefit deductions taken over 10 monthly pay periods for monthly paid employees or over 20 biweekly pay periods for biweekly paid employees. Employees working through the end of their contract/work year in June will be fully paid up through the summer for those benefits.

Pay and Tax Data for Monthly Paid Employees

If you are a current employee, you will need a copy of a recent pay advice that includes your current deductions.

In the upper left hand portion of your pay advice is a section titled "Hours and Earnings" and there you will find a line for "Reg Pay" (Regular Pay/Earnings). Your regular pay amount should be consistent from pay period to pay period, so you might want to verify that it is by reviewing one or two other recent pay advices.

If you are a newly hired you may use your annual salary as noted in your contract or salary notification but will need to estimate any voluntary deductions.

Enter the regular pay amount below as "Monthly Gross Pay". Alternatively, you may enter your annual salary in the "Annual Salary" input box. Important! Enter either a monthly or yearly pay amount. Not both! Then select your contract length (i.e. 193 day contract is 10 months, 219 day contract is 11 months and 260 day work year is 12 months).

Pay and Tax Data for Biweekly Paid Employees

If you are a current biweekly paid employee, you will need a copy of a recent pay advice that includes your current deductions. It is best to use one from a pay period that includes a full two weeks of work/paid days.

In the upper left hand portion of your pay advice is a section titled "Hours and Earnings" and there you will find a line for "Reg Pay" (Regular Pay/Earnings). Your regular pay amount should be consistent from pay period to pay period, so you might want to verify that it is by reviewing one or two other recent pay advices.

If you are a newly hired employee you may estimate your pay for a full two week period using the rate of pay and daily scheduled hours from your salary notification. You will also need to estimate any voluntary deductions.

Enter the regular earnings amount for a full two week pay period (Biweekly Pay) in the appropriate box below. If you are a transportation employee or food services worker (regularly works September through June) select "10 month contract". If you are a custodian or maintenance worker (regularly works July through June), select "12 month contract".

Monthly Gross Pay: OR Annual Salary:

Source: careers.fcps.edu

Category: Bank

Similar articles: