With GoCo’s embedded payroll, payroll admins can now view a variety of payroll types, including those processed directly in GoCo and others automatically processed behind the scenes. Here’s a breakdown of the payroll types you’ll see, including some additional types that may be triggered for adjustments or corrections.
Embedded Payroll Types in GoCo
There are four primary payroll runs you can process in GoCo’s embedded payroll system:
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Regular Payroll – This payroll type is pre-populated by GoCo for active employees in a given payroll period.
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Off-Cycle Payroll – Used for payroll runs outside the regular pay cycle, like a bi-quarterly commission payment.
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Bonus Payroll – For bonuses, gifts, or commissions.
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Termination Payroll – This payroll type is for final paychecks issued upon employee termination.
Tip: For additional information on the various payroll runs processed in GoCo, please refer to this link.
Additional Payroll Types Synced to GoCo
Certain payroll types may be automatically processed for specific adjustments or corrections. These types, while processed behind the scenes, are now visible in GoCo and will appear as off-cycle payrolls. These include:
- Wage Correction – Adjusts wages in case of prior miscalculations.
- Tax Reconciliation – Reconciles payroll tax adjustments for accurate records.
- Benefit Reversal – Corrects benefit deductions if adjustments are required.
- Correction – Broad corrections for other payroll details.
- Reversal – Reverses specific payroll transactions as needed.
- Disability Insurance – Tracks disability insurance payments processed separately.
Note: If you need to process any of these additional payroll types or have questions, please reach out to us at support@goco.io for assistance.
Viewing Payroll Journals and General Ledgers
Every payroll type, whether processed in GoCo or handled automatically behind the scenes, generates a payroll journal and general ledger to maintain financial consistency. You can access these reports by either clicking into the completed payroll or by navigating to the Reports app.
Reporting on Payroll Types
When creating payroll reports, you’ll see these additional payroll types in the list of available options, allowing you to pull reports that include these specific categories. This ensures accurate tracking and reporting, regardless of where each payroll type was processed.
Tip: For more details on creating payroll reports, click here
With this new visibility, payroll admins can seamlessly monitor and report on all payroll transactions, whether directly managed in GoCo or automatically processed as needed.