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14th Annual 2007 PayChoice Users Conference

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Presentation on theme: "14th Annual 2007 PayChoice Users Conference"— Presentation transcript:

1 14th Annual 2007 PayChoice Users Conference
2007 Preparing for Year-End 14th Annual PayChoice Users Conference October 2007

2 2007 Preparing for Year-End
Overview Variance Reports Year-End Preparation Guide Year-End Journal SSA Information and Links

3 2007 Preparing for Year-End
Variance Report The Variance Report is the BEST tool to diagnose “out of balance” situations It automatically prints ONLY when variances are detected with an installation payroll and with the quarterlies A Variance Report can be printed any time during the quarter when in Work With A Company by going to Reports or thru Global Reports

4 2007 Preparing for Year-End

5 2007 Preparing for Year-End
Global Reports – 941 Return/Variance Reports

6 2007 Preparing for Year-End

7 2007 Preparing for Year-End

8 2007 Preparing for Year-End
Year-End Preparation in PayChoice

9 2007 Preparing for Year-End
Year-End Customer Support Weekdays (all year) Monday thru Wednesday 9:00 a.m. to 8:00 p.m. Eastern Time Thursday and Friday 9:00 a.m. to 7:00 p.m. Eastern Time

10 2007 Preparing for Year-End
Weekend Emergency calls YEAR-END ONLY Saturday, January 5 thru Sunday, January 27, 9:00 a.m. – 3:00 p.m. CALL Ext. 285 DO NOT SEND FAXES OR S

11 2007 Preparing for Year-End
Weekend Emergencies are: You have completed your troubleshooting efforts and cannot process quarterlies or year end after reviewing the Customer Support Website An error prevents you from completing quarterlies or year end and you cannot find the resolution on the Customer Support Website

12 2007 Preparing for Year-End
Call Ext. 285, a support rep will return your call shortly All other calls will be addressed on the next business day The Customer Support Website is up 24/7

13 2007 Preparing for Year-End
HOLIDAY CLOSINGS PAI will be closed Tuesday, December 25, 2007 Tuesday, January 1, 2008 Support coverage, including emergencies, will not be available

14 2007 Preparing for Year-End
Key Year End Dates Wednesday, October 31, 2007 All 3rd Quarter Tax Returns due Beginning of December 2007 Register with SSA – Online Monday, December 31, 2007 4th Quarter Ends Wednesday, January 23, 2008 SSA accepts 2007 YE form submissions Thursday, January 31, 2008 W-2’s/1099’s due to employees All 4th Quarter Tax Returns due Annual 940, 943, 944 & 945 Returns due

15 2007 Preparing for Year-End
Key Year End Dates Thursday, February 28, 2008 Paper W-2’s, 1099’s, 1096’s & W-3’s due to SSA – IRS SSA WILL NOT ACCEPT MAG MEDIA DISKETTES Monday, March 31, 2008 1st Quarter Ends W-2’s and 1099’s Magnetic Media via SSA Online due to SSA – IRS Monday, April 1, 2008 APRIL FOOLS DAY

16 2007 Preparing for Year-End
What has changed for 2007 SSA accepts E-file only – NO MAG MEDIA DISKETTES W-2 Form SSN has been moved to Box A Control number moved to Box D

17 2007 Preparing for Year-End
Year-End Forms The SSA accepts black and white forms for W-2’s and W-3’s. PayChoice has been programmed for the approved SSA forms Red forms are still required for 1099’s and 1096’s

18 2007 Preparing for Year-End
Print Management Partners (PMP) is part of the PayChoice Alliance Program and can supply all year-end forms Contact PMP at

19 2007 Preparing for Year-End
The Alliance Tab on the Customer Support Website has Print Management Partner Information and pricing. Listed under “Printing and Supplies” Review the website often for updated Year-End Information W-2 / 1099 Counts Option under Service Bureau Maintenance: C- Global Client Statistics Report and/or file \paychoic\impexp\w2count.csv PMP is sending out YE ordering packages and clients should have them mid October.

20 2007 Preparing for Year-End
PMP is sending out YE ordering packages and clients should have them mid October.

21 2007 Preparing for Year-End
Year End Websites

22 2007 Preparing for Year-End
PayChoice and Year-End Know your stuff!! – Year-End / Quarter-End Manual is a great start Chapter 1 – Preparing for Year-End Chapter 3 – Quarterly Processing Earnings/Deductions Base Accumulator Guide

23 2007 Preparing for Year-End
Schedule a Meeting Discuss preparation and implementation procedures Prepare a task list with target dates

24 2007 Preparing for Year-End
ADHERE TO YOUR TARGET DATES

25 2007 Preparing for Year-End
2008 Calendars Create 2008 Scheduling Calendars Verify remaining 2007 dates Print 2 copies One for the Service Bureau One for the client to verify, sign and return From main menu s-s. Dates must be in 2007 to globally create 2008, can edit prior to creation

26 2007 Preparing for Year-End
From main menu s-s. Dates must be in 2007 to globally create 2008, can edit prior to creation

27 2007 Preparing for Year-End
From main menu s-s. Dates must be in 2007 to globally create 2008, can edit prior to creation

28 2007 Preparing for Year-End
From main menu s-s. Dates must be in 2007 to globally create 2008, can edit prior to creation

29 2007 Preparing for Year-End
From main menu s-s. Dates must be in 2007 to globally create 2008, can edit prior to creation

30 2007 Preparing for Year-End
Special Earnings/Deduction Accumulators Become familiar with The Earnings/Deduction Base Accumulator Guide Bonus and Adjustment Payrolls Most YE adjustments will effect SS/Medicare taxes

31 2007 Preparing for Year-End
Common Earnings Codes ACCUM CODE W-2 BOX DESCP AUTO$1 55 01,03, 05 & 14 Taxable Auto Allow. FRING1 51 Taxable Fringe Ben. INSPRM 59 01,03,05 & 14 – Code C Taxable GTL MILAGE 36 12 – Code L Non-taxable EE bus.exp. MOVE$1 57 Taxable ER paid Moving EXMOVE 5B 12 – Code P Qualified moving exp Use Code 52 acts like 51 w/h taxes for PA residents. Code INSPRM 59 – no fed w/h BUT taxable, use 5P INSPR2 to w/h fed.

32 2007Preparing for Year-End
Common Deduction Codes ACCUM CODE W-2 BOX DESCP 401K 31,32,33 03,05,12 – Code D 401(k) pre-tax 401KC EA 401(k) pre-tax/catch-up 457NQ 54 01 & 11 457 Distrib. 403B 50 03,05,12 – Code E 403(b) pre-tax MILAGE 60 12 – Code L Non-taxable EE bus.exp. SIMPLE 3B, 3C Simple 401(k) pre-tax Many more, but this is a sample. Most of the deductions are done w/ the payroll thru-out the year

33 2007 Preparing for Year-End
Processor Options – Service Bureau Level Information Print W-2’s: L = Laser Returns Produce 1099 if < $ Y or N Print W-2 Prelist at EOY = Y Production Control View EOD = Y Production Control allows you to view YE/QE control lists.

34 2007 Preparing for Year-End
Production Control allows you to view YE/QE control lists. Print W2’s laser/portrait. W2 Prelist. Produce 1099s

35 2007 Preparing for Year-End
Verify Information Client’s legal name and address Tax ID Reports Missing SSN – Master File Analysis Report W-2 vs wages Check Stub Messaging W-4, W-5 and UC rate changes Global Reports – S-Global Reports. Name and address reports, tax report, master file analysis, missing ssno. W4-W5 and uc changes…enter 1st payroll of the new year.

36 2007 Preparing for Year-End
Tax ID – 1 page per comp. MFA Rpt-Prior qtr futa/sui, tax exempt and blocks, 1099 ees paid w/w2 wages

37 2007 Preparing for Year-End
Pension Indicator Automatic with some Base Accum. – Chapter 1 and Earnings/Deduction Base Accumulator Guide 401k, 403b, smpira, simple, sepp, sarsep, tsa, 408k6, 501c, co401k, cosimp, cosimp2, co403b, cosrps and catch up codes

38 2007 Preparing for Year-End
Terminated employees Restore option available From the Main Menu – C-Utilities, 9-Scanner2, T-Import Dropped Terms into Current Master Terms drop with the first payroll of the new year

39 2007 Preparing for Year-End
Vacation – Sick Balances C = Carry over accrual balance to new year Balances clear when first payroll of the new year is processed.

40 2007 Preparing for Year-End
Billing Setup year-end billing codes Charge for YE Adjustment Payrolls 2008 price changes W-2 Processing

41 2007 Preparing for Year-End
Billing happens on the NEXT live payroll process. Shows in manual billing w/o amount – will calc when payroll runs.

42 2007 Preparing for Year-End
Running Quarter and Year-End Print 4th Quarter Returns CORRECT VARIANCES Review the W-2 Pre-list

43 2007 Preparing for Year-End
Terminated companies must be active to process year-end Companies that closed – process a zero transaction payroll for the quarter Remember to add any Prior Quarter FUTA/SUTA info for new clients during the year Will effect 940 Annual Return Master File Analysis Report Prior qtr futa/sui very important or 940 will be incorrect. Use master file analysis to determine clients.

44 2007 Preparing for Year-End
Prior qtr futa/sui very important or 940 will be incorrect. Use master file analysis to determine clients.

45 2007 Preparing for Year-End
W-2 / 1099 Mag Media Switches Additional information will be forthcoming in January Register with SSA in December Change your password once every 365 days with SSA

46 2007 Preparing for Year-End
Update Mag Media Switches prior to last payroll of the year Company Options – 2nd screen Company Tax ID & Info Screen 3rd Party Tax Services

47 2007 Preparing for Year-End

48 2007 Preparing for Year-End
Supplies Print Mgmt Partners W-2’s / W-3’s, 1099-Misc and 1099R’s W-2 envelopes - Label Diskettes / CD ROMS Postage Make room to pack W-2’s Determine if extra staff if necessary

49 2007 Preparing for Year-End
Production Control Track Quarter and Year End activity Clients not cut Clients not processed Toggle between QE and YE Enter send date

50 2007 Preparing for Year-End

51 2007 Preparing for Year-End
Enter send date – tag companies press F9 to run….use to note when W-2’s or quarterlies were sent to the client.

52 2007 Preparing for Year-End
Test Year End Select a small group of companies with W-2’s, 1099’s, YE adjustments, a problem client Run through year end before and AFTER 4th quarter release. Test printing of year end forms If PMP forms are not used you may have to configure printer to forms Printer Conf found in Chapter 7 or YE/QE manual. Year End/4th qtr release comes early to mid December.

53 2007 Preparing for Year-End
Month by Month

54 2007 Preparing for Year-End
October 2007 Schedule a Meeting – Target Dates Print Variance Reports Process Adjustment Payrolls Print Master File Analysis and Missing SSN Report 2007/2008 Scheduling Calendars Order Supplies Install PayChoice 3rd Qtr release/updates Process 3rd qtr returns and UC Mag Media Make sure 2006 Year End Master File Maintenance was completed

55 2007 Preparing for Year-End
November 2007 Setup Year-End Billing Codes Setup New Year Billing – Increases Verify Service Bureau Setup Check Stub Messages Print Variance Reports Process Adjustment Payrolls Year-End Test Group

56 2007 Preparing for Year-End
December 2007 Install PayChoice 4th Quarter Release Register with SSA / Change Password Process Bonus Payrolls Process Adjustment Payrolls EE level changes/schedule changes Print Variance Reports Full system backup and SAVE

57 2007 Preparing for Year-End
January 2008 Company level UC Rate Changes EE W-4 and W-5 Changes Process 4th qtr returns & UC Mag Media Review / send W-2 Pre-List Run Adjustment Payrolls Print W-2’s and 1099’s – send to client Start sending info to SSA if ready

58 2007 Preparing for Year-End
February 2008 Paper W-2’s and 1099’s due to SSA Wednesday, February 28 SSA WILL NOT ACCEPT MAG MEDIA DISKETTES FOR 2007. E-FILE ONLY

59 2007 Preparing for Year-End
March 2008 Online submission of W-2’s & 1099’s due to SSA Monday, March 31 Do a full system backup after W-2’s/1099’s are completed and SAVE DO NOT OVERWRITE THE FILE Gear up for 1st quarter end Review 2007 year end

60 2007 Preparing for Year-End
April 2008 – CELEBRATE


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