year end survival
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Year End Survival. Brenda Mott 2/20/14. Form W-2. Year-Round Readiness Plan. Year-Round Readiness Plan. Agenda Year-Round Checklist Training & Resources Proactive Approach Dates & Deadlines Make the most of your workday. Jan 1…………..…………..12/31. Plan of Attack. Build a foundation - PowerPoint PPT PresentationTRANSCRIPT
Year End Survival
Brenda Mott2/20/14
Form W-2
Year-Round Readiness Plan
Agenda Year-Round Checklist Training & Resources Proactive Approach Dates & Deadlines Make the most of your workday
Year-Round Readiness Plan
Jan 1…………..…………..12/31
Build a foundation◦ Create a year-round team◦ Include all who touch year end
Develop a strategy plan◦ Simple but detailed
Proactive ◦ Stay on track
Plan of Attack
Items to list◦ Tasks, activities, processes
Include year-round items◦ Monthly / Quarterly / Year End
Accountability◦ List who, what, where, when, and resources to accomplish task
Living document◦ Add, change, delete throughout year
Year-Round Checklist
Training is an investment Know resources
◦ Payroll Provider◦ User Groups: APA◦ Websites
Agencies: Federal, State, Local Industry: HR, Payroll, Benefits
◦ www.Ascentis.com Menu > Resources
Training: Knowledge is Power
Website Resources: Agencies
Website Resources: HR/Payroll
IRS: www.IRS.gov◦ What’s Hot◦ Voluntary Worker Classification Settlement Program (VCSP)◦ E-Newsletters: http://www.irs.gov/uac/e-News-Subscriptions-2
Website Resources – For Employer
IRS: www.IRS.gov◦ What’s Hot
SSA: www.socialsecurity.gov◦ My Social Security Account
Website Resources – For Employees
Communicate with employees• Review your paystub• Print & review Employee Profile document (sign-off)• Bulletin Board
Review quarter-end and year-end data now◦ System Reports
Fica Variance Report W2 Audit Report EE and ER Taxes
◦ Company level Company name and address Company tax id numbers Company unemployment rates
◦ Compliance and Record Retention
Proactive Approach: Company-Level
Payroll changes: Changing banks, frequencies, transfers Tax changes: Mergers, acquisitions, closures, ID changes Benefit Changes: Plans, Tiers, Rates, Open Enrollment Bank Information: Changing accounts Reporting requirements: 401(k) Timekeeping system updates: Accruals, Schedules, Holidays Application Updates: Software, computers, system backups Reconcile outstanding checks > 30 days old Reconcile accounts payable activity for W2 accuracy Deduction/Earning Codes limits & updates General ledger updates Vacation/sick/holiday policy changes Pay Grade Changes Bonus or special payouts Wage and tax adjustments
Verify, Track & Communicate: Internally & Externally
AUDIT! AUDIT! AUDIT!
You are responsible! Reconciling & Balancing is key to success Balance As You Go
◦ Each Payroll◦ Each Month-end◦ Each Quarter-end◦ Result: No Yearend Surprises
Use everything in your power:◦ Reports: Payroll Register, Labor Distribution, Payroll Summary, etc.◦ Payroll Provider or In-House program
Ongoing Review of Employee Data Now◦ Employee level
Name, address, SSN, wages, taxes, deductions, W-2 Review terminated and inactive employees during year Social Security Administration (www.ssa.gov)
E-Verify : online verification tools available
◦ Ongoing Review of W2 Data W2 boxes are updated correctly X must print in Box 13 for each active participant covered by
qualified plan via employee or employer contribution at any time during the year
Contact CPA, tax attorney or advisor if unsure
Proactive Approach: Employee-Level
Item Date CompleteTraining EventsSubmit Projects to Payroll Provider
Open Enrollment Deadline
W2 Hold Request Deadline
QE/YE filings and deposit dates
Adjustment Run Deadline
Print of W2sAdjustment Run: Requires W2c & Amendments
Delivery of W2s
Train Employees to Access W2s Online
Know Your Dates & Deadlines
Holiday Date Day Federal Reserve Bank
Holiday
Payroll Processor
New Years 1/1 Wed Closed ClosedMartin Luther King 1/20 Mon Closed
Washington BDay 2/17 Mon ClosedMemorial Day 5/26 Mon Closed ClosedIndependence Day 7/4 Fri Closed ClosedLabor Day 9/1 Mon ClosedColumbus Day 10/13 Mon ClosedVeteran’s Day 11/11 Tues ClosedThanksgiving 11/27 Thurs Closed ClosedChristmas 12/25 Thurs Closed Closed
2014 Know Your Dates
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Smile: National Holidays http://www.holidayinsights.com/moreholidays/february.htm http://www.brownielocks.com/month2.html
February 20: National Hoodie-Hoo Day On this winter day, people go out at noon, wave their hands over their
heads and chant "Hoodie-Hoo". It is a day to chase away winter blahs, and bring in spring.
Make the Most of Your Workday
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MS Outlook Create folders to organize emails
Make the Most of Your Workday
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MS Outlook: Options Auto Signatures: To increase time in email replies
Make the Most of Your Workday
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MS Outlook: Options Spelling & Autocorrect
Make the Most of Your Workday
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MS Outlook: Options Autocorrect: To increase typing speed and accuracy of
words, company name, software application names, terminology used frequently in emails
Make the Most of Your Workday
mp → MPAYpsa → PSApsag → Payroll Service Agreementpe → Payentry dcs → DocuSignrecieve → receiveanme → names&m → Sales & Marketing
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MS Outlook / Word / Excel / PowerPoint: Options Customize the Toolbar for quicker navigation
Make the Most of Your Workday
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MS Outlook: Categorize to help organize, sort and search for emails
Make the Most of Your Workday
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MS Outlook: Notes For quick reference of logins, references, contacts, websites
Make the Most of Your Workday
FYI Note:
Login Info:
Website Info:
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MS Outlook: Shortcut Keys
Control/Enter Sends email you’re composing Control/R Reply Control/F Forward Control/N New email Control/Shift/A New appointment
Make the Most of Your Workday
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MS Word & Excel: Shortcut Keys
Shift/F7 Thesaurus Control/A Select All Control/B Bold Control/I Italicize Control/U Underline Control/P Print Preview Control/Z Undo
Make the Most of Your Workday
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MS Excel: Shortcut Keys
Control/F9 Minimize current window Control/Space Selects entire column Shift/Space Selects entire row Control/Page Up Moves between tabs within Excel spreadsheet Control/Page Down
Make the Most of Your Workday
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MS Word: Shortcut Keys
Control/1 Single space Control/2 Double space Control/5 1.5 space Control/F2 Print Preview Control/Shift/< Decrease Font Size Control/Shift/> Increase Font Size Control/Shift/F Change Font Shift/F3 uppercase→Uppercase→UPPERCASE→lowercase
Make the Most of Your Workday
hello – Hello – HELLO - hello
Recap Plan for Quarter-end / Year-end Now Review activities and processes Know where to look for answers Communicate internally and externally Understand all actions that affect the W-2 Audit! Audit! Audit! Be on the look out for what’s new Life/Work balance