- Knowledge Base Categories:
- School Accounting System
- Payroll
- End of Calendar Year
Training Tidbit: Payroll End of Calendar Year Quick Tips
There are several features in the Payroll module of the School Accounting System to help make completing the end of calendar year process easier, including:
- Defining deductions with multiple W2 boxes. The Deduction File allows multiple W2 boxes to be defined for a deduction. This feature makes it very simple to report health insurance costs in Box 12DD while also reporting only the employee share of health insurance in Box 14, if desired.
- W2 Box 14 Default Order. The W2 Box 14 Default Order option is used to set the order for printing and posting the Box 14 items (for the deductions and pay codes designated to post to Box 14). If needed, the specific order of the items posted to Box 14 for an employee can still be changed (for printing purposes) within the Employee W2s option once the W2s are generated.
- Balancing Information. The Balancing Information option in Payroll completes the calculation of the formulas for taxes used to balance W2s. When completing the Balancing Information option, the formulas compare the calculated amounts to the actual amounts, and if a formula does not balance, a variance will appear. If a formula has a variance, the employees causing the variances can be displayed so that the necessary corrections can be made.
To view the updated checklist, refer to the Payroll End of Calendar Year Checklist topic in the Help File.