Week 4Discussion QuestionWeek 4 DQ1Due Week 4 Day 2 (Tuesday)Post your response to the following discussion question by clicking onReply.Computer Accounting with Peachtree Complete 2009 covers how to enter payroll information for hourly and salary employees. Why is it important to enter information precisely? What are the consequences if the information is not correct?Payroll information must always be entered precisely as employees rely on their paychecks to be correct and many have budgeted expenses that need to be paid from each paycheck. If the information is incorrect, there are many consequences within the system. The taxes paid from the employee and the company will be calculated incorrectly if the information inputted is not precise. This can cause the company and the employee to make anoverpaymentor underpayment of taxes. Vacation time can also get miscalculated with incorrect information. If the payroll was entered with too many zeros, the company checkbook could end up overdrawn as well. Payroll should be double checked before checks are printed and recorded.Response 2It is very important to be careful and accurate when entering employee payroll information. These employees count on their paychecks for everyday living. It can also be very time consuming and costly to go back and fix incorrect payroll once it has been processed, posted, and checks have been printed. Not having entered correct information can also lead to incorrecttax reporting where a company would either over or under pay their payroll tax liability deposits to the government. Under paying or not paying on time can lead to penalties for the company aswell.Response 3It is important to be precise when entering payroll information for many reasons. If the tax tablesare not entered correctly when setting up payroll it will not be caught until quarterly payroll reports are due. Here in Kentucky, the kentucky unemployment rate can change and if not changed in the computer correctly or at all will cause the withholding amount to be under over over withheld. We also have local payroll taxes here and the same thing applies to it. This couldcause the employer to owe money to the employee or vice versa. If the taxes withheld are incorrectly calculated and reported the IRS or State agency will catch the problem and will makethe company pay the balance on top of interest and pentalities on amounts owed. Correctly inputing the employees filing status, pay,additional amounts to be withheld, exemption etc is also important. It will determine the amount of taxes being withheld from that employee. It could cause problems when it comes time to file taxes. The employees rely on their employer to applytheir information correctly.Discussion QuestionWeek 4 DQ2Due Week 4 Day 6 (Saturday)Post your response to the following discussion question by clicking onReply.Entering payroll information is a vital part of accounting. What aspects of setting up payroll in Peachtree did you find most challenging? Explain why.I did not find the payroll to be confusing. I am sure there is much more to do when actually setting up withholding, different compensations for an employee for different job duties, and vacation time, etc. It is imperative to correctly input the number of deductions each employee is claiming as well as their vacation time.Other information to be recorded when setting up an employee is health benefits and 401K.Once an employee is set up, the system calculates everything. The hours and commission need to be recorded each week. Also, used vacation and sick time must be recorded. The deductions andpayroll can be adjusted as needed when an employee adds a spouseto their insurance, gets a raise, changes deductions, or any other change.Response 2I felt that Peachtree Complete Accounting (PCA)was very cut and dry when it came to its payroll process. It's very basic compared to other more complex software that I have worked with. I did not find setting up payroll with PCA to be challenging at all. I feel that the navigation tab for employees/payroll is laid out in a very effective manner that allows for easy following for the steps to complete payroll for either one or many employees. Other software might not offer this feature that helps remind the users each time of the steps and in which order they should be complete.Response 3i did not find anything that I would consider a challenge. I actually found it very detailed and very easy. I love the way it does all the figuring for you and gives you the answers so you don't have to guess. I like the way it gives you all the infomation that you could want, such as taxes paid and per hour amounts and/or salary if a person is being paid on a salary basis. I like the payroll journal and the check register, so I can compare what I did. The payroll journal is easy and lets you see what you did, so you can make sure all the information is correct. I love the ability to print all this out and also to preview it before I have to actually print it, in case I have made a