Payments to Employees
Review this portion of the book for insight into payments made to employees.
This section includes information related to salary and wage payments, reimbursable employee expenses, contractor payments, fringe benefit payments, policies regarding employee payments, and related tax reporting. Adhering to laws and regulations governing employee payments is essential to avoid legal penalties and maintain integrity. Properly managing salary and wage payments ensures accurate budgeting and forecasting, helping IU allocate resources effectively. Timely and accurate payments contribute to employee morale and satisfaction, fostering a positing environment. Understanding tax reporting requirements related to employee payments helps IU fulfill its tax obligations and avoid potential penalties from tax authorities. Monitoring reimbursable employee expenses and fringe benefit payments helps control costs and prevent unnecessary spending. Overall, understanding and effectively managing payments to employees is essential for legal compliance, financial stability, employee satisfaction, and helps contribute to the mission of IU.
POLICIES
Review the below policies related to payments to employees:
- FIN-ACC-541: Stop Payment and Reissue of University Payroll Checks
- FIN-ACC-630: Determination of Employee or Independent Contractor Status
- FIN-PAY-020: Recording and Reviewing Time Worked by Non-Exempt Employees
- FIN-PAY-030: Timing of Payments and Off-Cycle Payroll
- FIN-PAY-040: Payment Methods and Pay Advices
STANDARDS
There are no standards related to this portion of the book at this time. Please check back in the future!
CHECKLISTS
There are no checklists related to this portion of the book at this time. Please check back in the future!
TRAINING MATERIALS
Review the below training materials related to payments to employees:
OTHER RELATED MATERIALS
Review the below other materials related to payments to employees:
- Instructions: Biweekly Pay Cycle Guide (formerly Biweekly SOP)
- Instructions: Monthly Pay Cycle Guide (formerly Monthly SOP)
- Reference Document: Master Earn Code List
- Reference Document: Labor Object Codes and Rates
- Reference Document: Direct Deposit and Paycard Information
IU Financial SYSTEM REPORTS AND PROCEDURES
Review the below IU financial system reports and procedures related to payments to employees:
