Tackle Taxes Year End Preparation Presented by: Bart Schulze

Slides:

Advertisements

Similar presentations

AFTER-THE-FACT PAYROLL REPORTER The After-The-Fact Payroll Reporter provides easy year round collection of payroll data from check stubs, payroll registers.

Advertisements

Intuit and QuickBooks Payroll Services QuickBooks is a registered trademark of Intuit, Inc.

BIA PROVIDERS CONFERENCE December 4, 2013 COMMON PAYROLL ERRORS and HOW TO AVOID THEM.

11–1 1-1 Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin.

January PayrollsJanuary Payrolls Payroll Register – Cut Checks / Pay Employees Update Employees’ Earnings Records Record Journal Entry Electronically Deposit.

Payroll Accounting, Taxes, and Reports

Payroll Accounting, Taxes, and Reports

Payroll Amendments and Corrections Brandon Le Du California Payroll Conference September 11 and 12, 2014.

Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.

X © 2010 The McGraw-Hill Companies, Inc. All rights reserved.

People © 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other.

Payroll Liabilities & Tax Records Chapter 13

Payroll Liabilities and Tax Records

LESSON 13-1 Payroll Accounting, Taxes, and Reports

McGraw-Hill/Irwin Introduction to QuickBooks Pro, 2004 © 2005 The McGraw-Hill Companies, Inc., All Rights Reserved. Chapter 8 Payroll Setup.

Ch13-2 Review Problems. Section 3Tax Liability Payments and Tax Reports What You’ll Learn  How to pay payroll tax liabilities.  Which tax reports.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 13-4 Paying Withholding and Payroll Taxes  Paying the liability for employee taxes.

2012.  Use the Employee Center to view previous payroll activity  Update your Payroll Tax Tables  Create Paychecks and override default calculations.

Unit 9 Federal Payroll and Tax Returns McGraw-Hill/Irwin Copyright © 2006 The McGraw-Hill Companies, Inc. All rights reserved.

Chapter 13 Section 3 Accounting II Ms. Alltucker TAX LIABILITY PAYMENTS AND TAX REPORTS.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Accounting April 23, 2015 Chapter 13-3 & 13-4 notes 13-3 & 13-4 WT & OYO 13-3 & 13-4 Application.

Payroll Processing Chapter 7. PAGE REF #CHAPTER 7: Payroll Processing SLIDE # 2 2 Objectives Update your Payroll Tax Tables Create Paychecks and override.

GLENCOE / McGraw-Hill. Payroll Taxes, Deposits, and Reports.

Payroll Setup Chapter 6. PAGE REF #CHAPTER 6: Payroll Setup SLIDE # 2 2 Objectives Activate the payroll feature and configure payroll preferences Set.

GLENCOE / McGraw-Hill. Payroll Taxes, Deposits, and Reports.

Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.

Payroll Setup Chapter 5. PAGE REF #CHAPTER 5: Payroll Setup SLIDE # 2 2 Objectives Activate the payroll feature and configure payroll preferences Set.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Today’s Target! Wed., March 2 nd  Students will ledger Subsidiary Accounts and post to General.

Payroll with the Punches Back Office Corrections Presented by: Kate Graff Kevin Tompkins Hugh Gilpatric.

2017 Year-End: Partnership Strategy

Payroll Liabilities and Tax Records

© 2014 Cengage Learning. All Rights Reserved.

International Student

Lynne Hamp and Alicia Stansbury October 6, 2016

College Accounting A Contemporary Approach

© 2014 Cengage Learning. All Rights Reserved.

Accounting for Payroll, Payroll Taxes and Journal Entries

10 Things to Do Now to Prep for Year-End

$ $ $ $ Section 3 Tax Liability Payments and Tax Reports

Doing Payroll With QuickBooks

Greater Los Angeles APA Chapter Presents:

Tax Payments Made & Credits

New Client Conversion Presented by: Brenda E. Satterfield, CPP

Preparing for Year End and The New Year

Preparing Payroll Records

Presentation Overview

LESSON 13-1 Recording A Payroll

Payroll User Group Meeting

Unemployment Taxes Federal Unemployment Tax Act - FUTA

Chapter 8 Paying the Payroll, Depositing Payroll Taxes, and Filing the Required Quarterly and Annual Tax Forms: The Conclusion of the Payroll Process.

© 2014 Cengage Learning. All Rights Reserved.

Tuning Payroll: Tips for Preparing and Processing Payroll for Year-End

Quarterly & Annual Payroll Reporting

W-2/1099 Year End Processing

© 2014 Cengage Learning. All Rights Reserved.

Payroll Management 12-3.

NextGen Payroll Period End Processes Resource 2018

Financial Management Lesson 2: Bank Statements and Payroll

New Jersey Slides Tax Year 2018

System Default Account

January Payroll Class Review January Payrolls

Payroll Taxes, Deposits, and Reports

© 2014 Cengage Learning. All Rights Reserved.

Payroll Accounting, Taxes and Reports

Unemployment Taxes Federal Unemployment Tax Act - FUTA

Payroll Accounting, Taxes, and Reports

Preparation Activities

Paying Withholding and Payroll Taxes

Paying Withholding and Payroll Taxes

Quarterly & Annual Payroll Reporting

Presentation transcript:

Tackle Taxes Year End Preparation Presented by: Bart Schulze Kate Graff

What is APS? Assisted Payroll Services Service created to aid and assist your Back Office employees with your Payroll Process Consultation Weekly/Monthly/Quarterly tax payments Quarterly and Annual filings Weekly or Quarterly Packages depend on level of assistance

Objectives: Quarterly Review Year-End Best Practices Monthly Checklist Smoother process Possible pitfalls Monthly Checklist Share Year End experiences Questions

October: 3rd Quarter End Reminder due dates: Monthly State WH: Oct 15th 941 and State UI: Oct 31st Organize Q3 process: easily accessible local folder State Filings: Websites and Log-in info Withholding Unemployment Locals (if applicable) 941 Federal Liability: Greenshades file Helpful Avionte Reports: Taxes Summary Lite Get Employee SUI Wage Detail AQ Tax Remittance_EE and Tax Remittance_ER Review Q1 and Q2 data: input into same folder

November: Preparation Note upcoming employee vacations and holidays Keep eye out for State Tax Mailings State Unemployment: 2017 rates

November: Preparation Keep eye out for State Tax Mailings State FUTA: 2016 rates released State FUTA Rates for 940 Schedule A State FUTA? Credit Reduction Rate 4 US states: CA, CT, OH, Virgin Islands ~0.3% increase

November: Preparation Review Payroll Transaction Types in Avionte Admin Tools > System > Transaction Type Deductions Setup Pre-tax? W2 Box Setup

November: Preparation

December: Preparation Generate Greenshades Feed & XML Errors? Can correct now! Error: Missing State/SUI ID: Why: New state added this period How: Admin Tools > Employer > Tax > Tax EIN tab Must add ID for State or SUI Enter 0 for inactive states

December: Preparation Error: Negative SUI wages for employee Why: Reversed/Voided a check in one quarter, when Employee was paid/working in previous How to correct: Ignore Employee will not show on Unemployment return 941, State WH, all other quarter files unaffected

December: Preparation Error: Employee missing SUI wages on one or more checks Why: Converted data, something did not transition correctly How: Contact Avionte support, will need to de-bug internally

December: Preparation Start thinking about W2s: Printing in house? Order 4up blank paper Outsourcing? Find vendor Be aware of due dates and price increases Employee Portal? No need to Print! (with consent) Save final week for exceptions: Bonuses Commission checks Owner pay

January: Taxes Time! – Week 1 Complete 2016 Payroll Generate Greenshades Feed & XML Additional Errors? W2 File sent to vendor, or start printing

January: Taxes Time! – Week 2 Review 941 and Schedule B Total from Schedule B = Line 10 941 Rounding: Line 7 941 Liability Dates = Check Dates State Withholding Return/Payments Due January 15th File Locals (if applicable)

January: Taxes Time! – Week 3 Employee 1095-C Forms: Due by Jan 31st Update returned W2s Bad address Employee returned issues State Unemployment Filings/Payments Due January 31st

January: Taxes Time! – Week 4 File W2s Due to SSA January 31st File 941 and Schedule B Review 940 and Schedule A Filing/Payment due: February 28th Line 4 error: must check a box Line 11 = State FUTA (Total from Sch A) Line 12 = Line 17 Rounding: Line 16 d

Discussion: What went well for you in previous year-end filings? Tips? Suggestions? What makes year-end stressful for you? Something you wish you would have known before your first year-end with Avionte?

Questions?