Technology is changing how we do business. The next generation of the workforce is looking for their employment experience to be similar to their everyday lives, such as the apps they use on their phones to do things like modifying W-4s or direct deposit information.
So, how does my payroll department go paperless - and stay in compliance with state and federal laws at the same time? Don't worry, this training session can help.
By attending this training session, you will learn how to stay compliant, including how to keep paperless payroll records and implement and maintain an effective recordkeeping policy for both the paper and paperless environment. This webinar also will give you the tools to be able better understand the new technology that can be used to allow employees to use ESS (Employee Self Service Portals), along which kinds of payroll records should be kept and which should be purged.
Top FAQs
In addition to ensuring that employees are paid correctly and on time, "Payroll" has numerous time and reporting requirements. The primary payroll areas include paychecks, reporting, operations, and management.
Time clocks, time sheets, and electronic methods are a couple ways to track hours worked.
You report Social Security info on W-2, W-3, and 941
Yes. In many cases, state laws conflict with federal laws, so be sure to check both!
You report bonuses as wages and as social security and Medicare wages on Forms W-2 and 941
Federal and state governments impose a variety or rules, regulations, and reporting requirements, so the hardest parts of payroll recordkeeping is knowing all of the rules, then complying - on a timely basis - with them!
Form 941 is used to report income taxes, Social Security tax, and Medicare taxes withheld from employee's paychecks.
The Form W2 reports an employee's annual wages and the taxes withheld.
Maintaining accurate payroll records, such as hours worked, pay, and tips and tax amounts, obeying federal and state rules, and submitting required reports on a timely basis.
Payroll is much more than just handing out paychecks, and includes a variety of responsibilities such as handling garnishments, travel pay, multi-state taxation, unclaimed paychecks, and much more in a timely and accurate fashion.
While many payroll-related regulations are federally-governed, there also are many state requirements, including those for handling garnishment, final paychecks, and unclaimed paychecks. Each state's requirements differ in the details, so be sure to check your state's requirements by clicking the applicable link(s) at the bottom of this page.
You report Medicare taxes on Form W2
In business since the mid-1990's, we have over 25 years of experience delivering high-quality training content via seminar, webinar, online, and other formats. Each of our courses are delivered by an industry expert who will share his or her years of experience to help you be in compliance, smarter, and more productive, and almost all offer SHRM and HRCI credits.
Payroll Administrators must be able to:
- Properly "classify" workers
- Apply the various exemptions
- Calculate gross pay and properly make deductions
- Correctly identify, pay, and withhold taxes for employees
- Administer deferred compensation, cafeteria plan, sick pay, and other compensation
- Handle stock options, expense reimbursements, relocation, and other "expenses"
- Follow the proper policies, procedures, and documentation requirements for garnishments and levies
- Properly complete and file all required reporting requirements
- Correctly complete year-end requirements and establish year-beginning requirements
- Implement and maintain fraud, audit, disaster recovery, and record retention processes and procedures
Completing forms accurately, knowing when and where to file, and doing so on a timely basis.
Yes.
