Generating your year-end payroll and generating the annual reports is a straightforward process within Sage 100 Payroll.
The goal is to create the final pay run for your employees in a way that lets you then create all of the reports and filings without modification. Follow these steps to a stress-free tax filing month!
- Run and Update all final payrolls for the year. This includes all checks dated in the tax year for which you are filing W-2s.
- Be sure to set the dates for the checks and the accounting period to both be in the tax year.
- Verify that the Years to retain eFiling history in Payroll Options is set appropriately. More is usually better.
- Confirm that payroll checks have been posted, and the G/L postings made too.
- Print the Sage 100 payroll reports. If you haven’t already done so, this is a great time to start with Paperless Office!
- Generate Federal & State quarterly and annual tax forms and reports from the Company.
- Reconcile tax forms generated in Aatrix to your Sage 100 reports.
- If you’ve been following these procedures during the year for your regular filings, this should be no trouble.
- Follow the procedures in the linked support article.
- If you must modify, make changes in Sage 100. Pay close attention to match the accounting date to the payroll dates!
- Make an Archive copy (backup) of the Live Company Code now. This will hold all the detailed data from your 2016 payroll, since the details will be eliminated when you close the year.
- Download and Install the year-end software updates before generating W-2s and other government forms and reports. Call SmartBridge Partners for help if you don’t feel comfortable installing this IRD (Interim Release Download); assistance in this is part of your Knowledge Transfer Agreement.
- Generate Federal & State quarterly and annual tax forms and reports from the Live Company.
- Generate and process W-2s from the Live Company, which still has all of the details of the updated 2016 payroll data.
- Perform year-end processing in Payroll in the Live Company. Before you do, re-check that you made your Archive copy; this step will irretrievably eliminate the payroll details, which is necessary before you can start processing for the 2017 tax year.
- Download and install tax table updates (TTU) for the new tax year. These are the tax rates you will use for 2017 payrolls.
- Review and complete setup requirements for the Affordable Care Act (ACA) for the filing year.
Of course, if you have questions or problems about these, let us know. The call is included as part of your Knowledge Transfer Agreement.