The Paycheck Modeling feature for the US is a localized version of the generic Payslip Modeling functionality and is designed to meet local requirements.
For information about the generic Payslip Modeler, see: Using Payslip Modeler
Employees can model their paycheck using the Paycheck Modeler available online. This a Paycheck calculator that can be used by individuals to quickly and accurately answer paycheck related questions and address "what-if" scenarios such as how their net pay would be impacted by an increase to their 401K deduction or by a change to their federal or state filing status from single to married. Employees can elect to print a PDF copy of their model paycheck results. This feature is available to both employees and payroll professionals (administrators) via Self Service HR. Payroll administrators can use this feature to answer queries or perform what-if analysis for employees.
Note: Users cannot run paycheck modeling process, if there is a prepayment or costing process already executed for the current pay period. The modeling process does not impact the data present in the application. The employee data remains absolutely unaffected by the simulation process. Users must first agree to the Usage Terms and Conditions in the Welcome page before they can begin modeling their paycheck. Employees can elect to print a PDF copy of their model paycheck results. The PDF output displays a watermark indicating it is a sample payslip only, plus the model result values are designated as "Estimated.
For the United States Localization, the Payroll Modeling functionality enables employees or payroll administrators to model the following information to determine the impact on payroll calculations:
Resident Address Details
Work Location Details
Tax Withholding Information
Earnings and Deductions
The Paycheck Modeling feature enables employees and payroll administrators to perform the following tasks:
View information provided in the Welcome Page and agree to the Usage Terms and Conditions.
View certain personal and pay information such as Employee Name, Job title, Payroll, Pay Basis and Annual Salary.
Perform paycheck modeling altering address region details such as:
Resident State
Resident County
Resident City
Work Location
Work At Home
For example, users can change resident address details to verify corresponding tax calculation changes. If taxation is present for the selected address location, you can view the change in the Simulation Output in the Tax Deductions section. For example, if users are planning on moving to a different city and/or state, they can model a resident address and/or a work location change to assess the impact on tax and other deductions in order to determine changes to net (or take-home) pay. Note that if the user changes their resident state, they will also need to select a new resident county and city as well as state filing and exemption status. Likewise, if they change their work location, they will also need to select a new work state filing and exemption status.
Model tax withholding information changes at Federal and State level. For example, an employee who is getting married may want to model changing their Federal Filing Status from "Single" to "Married". Likewise, they may also want to model changes to their Resident and/Work State Tax Withholding details such as changing the state filing status and/or changing the number of state exemptions plus they can also set up Additional Withholding amounts.
Model changes to net or take home pay by selecting different earnings and deductions that have been made available for modeling. For example, an employee may be eligible for an upcoming bonus or overtime pay, and would like to see what their net or take home pay will be. Likewise, an employee may want to model a change to their 401k deferred compensation deduction to see the effect on their net or take home pay.
View and print model paycheck results. View side by side pie charts that compare the employee's Current Pay to their Estimated (model) Pay. The Current Pay pie chart displays data from the employee's most recent payslip. The Estimated Pay pie chart displays data from the model paycheck. The Current Pay and Estimated Pay pie charts provide a breakdown of current and estimated pay by pretax deductions, taxes, other deductions and net pay.