On a monthly or quarterly basis an employer’s insurance provider issues a report indicating the STD/LTD benefit amounts that are paid out to their employees. These payments should be entered into the HCM payroll system as soon as they are received so that they are posted to the correct tax quarter. You may...
What is a Tax Gross up ? There might be a time you want to pay an employee a specific amount. But, once you factor in taxes, that amount gets smaller. So how can you give an employee a certain net pay? Gross up for taxes. What is a gross up? A gross...
Each year, we recommend our clients using Stratus time review their Payroll Policies and calendars for accuracy within the Time & Labor portal. If you used custom pay period dates in the past for a specific time frame, you must make the adjustments each year for each payroll policy impacted. How to Enter...
Part of the Year End process for our clients using Stratus Time is reviewing the holiday list for the upcoming calendar year for accuracy. Holiday lists determine which holiday’s employees may receive on their time cards. There can be more than one holiday list to accommodate different groups of employees. The number of...
Engage your employees to review and correct any issues with their personal information or pay history before W2’s are generated. Encourage emoployees to log into the web portal to review the following items: Home address Taxes and taxable wages withheld year-to-date Full Name match to Social Security Card Social Security Number W4 Form...
This report indicates which employees are marked Blocked or Exempt from taxes in the HCM system. There is an important distinction between these two employee flags: BLOCKED EMPLOYEE: Refers to employees who wrote “Exempt” on line 7 of the form W-4; telling you not to deduct any federal income tax from his...
The Retirement Plan box on the Form W‐2 will be automatically checked if you have any plan funded via payroll deductions (401(k), 403b, etc.) You can review your employee population for this indicator in HCM by running the Employees without Active Retirement Plans (Box 13) report in Business Intelligence under the NEW Quarter & Year...
(From IRS W2 Instructions) If an employee dies during the year, you must report the accrued wages, vacation pay, and other compensation paid after the date of death. Also report wages that were available to the employee while he or she was alive, regardless of whether they actually were in the possession of...
Verifying Payroll Calendars As part of the year‐end process, we ask our clients to ensure the payroll calendars reflect the correct pay dates and pay periods for the coming year; these will be completed no later than October 1st each year for all clients. Please take a moment to run and review your...
