Together, the Payroll and Labor Accounting systems offer you an easy way to track salaries and stipends, or to manage payments, commitments, and distributions. Payroll enables you to pay your employees on time and in the correct amount, while Labor Accounting maps charges to the General Ledger. In this section, you will find resources for administrators and employees alike.
Have questions? Contact the Financial Service Center at (609) 258-3080 or email us for guidance.
**Memorandum on Payroll Tax Deferral September 2020 - December 2020**
On August 8, 2020, a Presidential Memorandum was issued allowing U.S. employers the option to defer withholding and payment of an employee’s portion of the Social Security tax for employee’s with wages below $104,000 per year. This tax deferral option is effective for the period September 1, 2020 through December 31, 2020, but would have to be withheld from employees’ wages and paid by May 1, 2021 to avoid penalties and interest. We believe that deferring taxes now to be collected early next year does not provide a meaningful benefit to our employees. Therefore, the University has decided not to participate in this program.
Both departments and their employees play a role in proper payroll management at Princeton. The resources found in this section cover the ins and outs of making sure employees are paid on time and in the correct amount each pay period, while also covering special topics of concern to each party.
Request access to Labor Accounting; understand its uses, from managing funding distributions for faculty and staff to facilitating graduate fellowship stipends and tracking sponsored research efforts; and review cases that require special Finance and Treasury handling.