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LivePayroll vs. After-the-Fact Payroll

Eric Updated by Eric

CFS Payroll System offers two versions of payroll data entry: after-the-fact and live.

941/940 After-the-Fact Payroll

CFS 941/940 After-the-Fact Payroll allows users to:

  • Enter payroll check data for employers after the employer has written the checks and paid the employees.
  • The program facilitates data entry by performing certain straight-percentage tax calculations automatically, such as social security and Medicare tax.
  • The check data can be entered on a check-by-check basis or as quarterly summary numbers. Either way, the program reports the totals to the appropriate quarterly and annual federal and state forms.

LivePayroll

CFS LivePayroll allows users to:

  • Prepare and print payroll checks for employers as part of their services.
  • The program can calculate wages based on hours worked and the employee's hourly rate, or based on an annual salary and the pay period.
  • Federal, state, and, in some cases, local income tax withholding is calculated based on the pay period and the employee's withholding status and allowances.
  • Live Payroll also prepares Workers' Compensation reports.

LivePayroll includes After-the-Fact 941/940 Payroll at no extra charge.

See Setting Up Employers and Employees in LivePayroll.

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