What Prints Where On The 2001 Payroll W2
The following information explains how the Roundtable Software Advantage Payroll module determines the amounts to print in the various boxes of the W2 form.
|For tax year 2001, this box has been split into two areas--one for the employee’s last name and one for the first name and middle initial. When printing W2’s the program asks if names are swapped. If you have the last name first, answer this prompt "Yes". In order for Payroll program 26 to split the names as entered in the employee master successfully, you must have entered them consistently. Click here to review how the program determines the employee’s last name.|
||Wages, tips, other compensation|
|The total of all pay types
that are not FWT–exempt, less the total of any Deduction Types listed in
the Pre–Tax option of program 50, System Defaults, that are flagged as
‘Y’ in the FWT column. This includes any fringe benefits entered in System
Defaults. This box also includes the employer portion of any deduction
listed as Insurance Over $50,000.
NOTE: Wages paid in the new year are not included in the previous year’s income, even if it is earned in the previous year. The Check Date is the determining factor. If the Check Date is for the new year, the income is accumulated for the new year.
||Federal income tax withheld|
|The total for all deductions that have a Federal Reference of ‘1’ specified in the Deduction Master, program 3.|
||Social security wages|
|The total of all Pay Types for an employee that are subject to the OASDI tax, excluding tip amounts less any Deduction Types listed in the Pre–Tax option of System Defaults (program 50) that are flagged as ‘Y’ in the FICA column, plus any employer contributions for deductions listed as Insurance Over $50,000 when running program 26. The sum of this amount and the amount reported in Box 7 (if any) will not exceed the OASDI limit entered when running program 26.|
||Social security tax withheld|
|The total of the employee withheld amounts for any deductions listed as OASDI when running program 26.|
||Medicare wages and tips|
|This is the total of all pay types (tips included) that are not exempt from FICA plus any employer contributions to insurance deductions listed when running program 26, less any deductions listed under the Pre–tax option of System Defaults that are flagged as ‘Y’ in the FICA column, plus any employer contributions for deductions listed as Insurance Over $50,000.|
||Medicare tax withheld|
|The total of all deductions listed as Medicare deductions when running program 26.|
||Social security tips|
|The total of all tipped pay types that are not exempt from a social security deduction. (Tipped pay is indicated by a ‘Y’ to the Tip Amount prompt in the Pay Type master, program 1 of Payroll.)|
|If Accounts Receivable is interacting with Payroll and the Employee Master has an Accounts Receivable salesperson number, Advantage will look to the Accumulated Sales in Accounts Receivable for that salesperson and multiply that amount by the Allocated Tips percentage entered when printing W2s. As program 26 produces W2s this amount is also written to the Month, Quarter and YeartoDate Allocated Tips fields on the second screen of the employee master.
If Accounts Receivable is not interacting with Payroll and you need an Allocated Tip amount to print in this box, you’ll have to enter that amount on the second screen of the Employee Master in the YTD Allocated Tips field. You can use program 21, Quick Edit, if you have several employees to change.
||Advanced EIC payment|
|The negative of the YTD employee withheld amount for any deductions listed after saying ‘Y’ to the Enter EIC Deductions prompt when running program 26. Note that this amount should appear on the W2 as a positive, so the amount in the employee master should appear as a negative.|
||Dependent care benefits|
|This amount is determined by the pay and deduction types listed when running Payroll program 26. The total of all pay types and the employer contribution amounts for the deductions listed are added into this amount.|
|The Roundtable Software Advantage Payroll module does not print in this box.|
||See instructions for box 12|
|This box prints Special
Disclosure Items such as 401(k) contributions. While there are 19 different
codes provided for by the IRS, the Payroll module will only report the
following 6 codes:
Code C–Cost of group–term life insurance over
Code D–401(k) plans
Code E–403(b) plans
Code K–20% Excise Tax On Excess Golden Parachute
The code letter (C, D, E, F, S or K) will print to the left of the amount in the space provided in box 12.
IF AN EMPLOYEE HAS MORE THAN 4 SPECIAL DISCLOSURE
||Advantage will only mark (x) in the following options:|
|Retirement plan:This box will be checked for any employee that has the Pension Plan prompt of program 6, Employee Master, answered "Y".|
|This box will print one
of the following:
If you answer ‘Y’ to the Separate SUI/SDI Totals prompt when running program 26, the totals of up to 3 types of deductions will print in this box separate from one another. Only employee withheld amounts are reported here.
If you answer ‘N’ to the Separate SUI/SDI Totals prompt, the system prints the total of all employee withheld amounts for deductions with a Federal Reference of 4 (SUI/SDI) and a State Reference that matches the one specified when printing W2s.
|This is the first 3 characters
of the state name entered when running program 26. You should enter the
two-character postal state code for the state you are reporting.
This box also prints the State ID number that you enter through the Edit option of System Defaults. If you are doing mulit-state payrolls, you can edit this field when printing W2's.
||State wages, tips, etc.|
|The total of all pay types with a State Reference number matching the number entered when running program 26.|
||State income tax|
|The total of all deduction types with a Federal reference of zero and a state reference matching the one entered when running program 26.|
||Local wages, tips, etc.|
|The total of all pay types with a Local Reference number matching the number entered when running program 26.|
||Local income tax|
|The total of all deduction types with a Federal reference of zero and a local reference matching the one entered when running program 26.|
|This is the first 6 characters of the Local Name entered when running program 26.|
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