W-2 Processing
in Payroll
Do your customers panic at the thought of closing their Payroll
module and processing W-2 forms? Here are some hints to
make your customers’ Payroll year-end and tax reporting tasks less
stressful.
The IRS often issues changes to W-2 forms, and Microsoft releases
year-end updates to address these mandated changes. Year-end updates
can be downloaded from PartnerSource and are usually available in
late November or early December. These updates need to be applied to
your customers’ Microsoft Dynamics SL installation prior to year-end
processing. Directions for
the installation are included in the update file.
Here are some hints for your customers to be aware of as they approach year-end
closing of their Payroll module:
• Payroll W-2 data is always updated based on paycheck dates. Period
to post has no relevance to this process.
• W-2 calculation can be run at any time, even before the year has
ended, and can be rerun as many times as necessary. It is highly
recommended that your customers run this process long before the W-2s
are due to the IRS in order to give themselves time to work through
any discrepancies they may find.
• Your customers should use the Employee W-2 History screen to review
the results of the W-2 calculation process.
Some issues require modifying maintenance screens and recalculating
W-2s for all employees. Some examples are:
1. If the deduction is missing the State Employer ID, this can be
corrected in Deduction Maintenance (History)/W-2 Control tab.
2. If the W-2 is missing your customers’ company Federal Employer ID,
have them correct this in Company Maintenance.
3. Incorrect Boxes – Deduction or Earnings Type Maintenance
(History)/W-2 Control tab.
• The following are examples of errors that require initialization
of the Employee W-2 History screen or Employee History screen to
correct:
1. Incorrect wages reported due to incorrect setup of tax exempt
deductions.
2. Adjustments for taxable items not captured through regular
payroll processing such as taxable use of a company automobile or
taxable life insurance benefits.
• Initialized changes to the Employee W-2 History screen may be
protected during recalculation of W-2s if necessary. Your customers
should select the Protect Edited W-2 Information check box located on
the W-2 Calculation screen prior to recalculating their
W-2s.
• Final W-2 calculation must be done when all payroll data has been
entered and released for the calendar year.
• Only create the Magnetic Media file after all
W-2 issues have been
resolved. |
Name: Eric Folk
Role: Test engineer
Team: Solomon Contract Development
Background: I received my Bachelor of Science in Business
Administration from Bowling Green State University. In addition, I
finished all lab and class requirements in their Registered Nurse
Program. I started working with Solomon III in 1995, entering
payroll for the Ramada Inn in Toledo, Ohio. Later, I worked for two
different Solomon vendors, and I joined Microsoft in 2001. I spent
my first two years as a Distribution Series support engineer and
then became a Project Series support engineer. I went to Development
as part of the Test team when I joined Plumbline Solutions.
Likes best about developing: The team members and leaders in
the department are highly knowledgeable, flexible, and a fun group
of people to work with. They are always eager to assist and share
their knowledge.
Hobbies: Exercising and listening to classic ‘70s music. |
