How do I Calculate Gross for an Even Bonus Payroll Check

Overview:

There may be times when you need to calculate the gross amount for a bonus Payroll check where you want to pay a specific amount and withhold “1 for Bonus Pay.”

NOTE: Please keep in mind that the Financials software is not responsible for calculating users’ gross wages, but the following percentage may be used as a general guide.

For a visual tutorial, see the Calculating Gross for Even Bonus Checks video.

Steps:

Write an Even Bonus Check:

  1. From the Payroll menu, select Manage -> Payroll Processing.

  2. Choose the All Employees radio button and click Search.

  3. Select an employee: in this case Liz Baker.

  4. Click the Pencil Icon to edit the Compensation.

  5. Choose 1 for Bonus Pay from the #Pay/Year drop-down..

  6. Divide the Net Amount you want to pay (ex. $100) by 0.6735 to calculate the Gross Amount.

  7. Enter the calculated Gross Amount ($148.48) into the Pay Rate field.

  8. Click the Update button.

  9. Make sure that there are no other compensations or deductions on the record and then click the Update button.

  10. You will notice that the Net Amount paid is an even $100.00.

NOTE: Keep in mind that if state, county or local taxes are to be withheld, the percentages would have to be adjusted to include those rates as well.


For additional information, visit the Financials Online Help.


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