Enter
After-the-Fact Payroll Information to Print Employee W-2 Forms
Payroll can be a little more complex than just entering payroll checks, printing reports and forms, and closing the payroll tax year. For example, if an employee needs a W-2 form at the end of 2011 but no payroll checks have been entered for that particular employee during 2011, you must enter after-the-fact payroll information to print the form. The same can be true of 1099 vendors. If you have vendors that need a 1099 form printed but they are not entered in the system and payments have not been made to the vendors, this is considered after the fact.
Note: Before printing payroll and 1099 forms, install the latest Sage 50 tax service update. This ensures that your forms will be in compliance with current federal regulations.
To enter after-the-fact payroll information for employees
- Verify the default information for your employee W-2 forms.
- From the Maintain menu, select Payroll, then Payroll Settings.
- Select Taxes in the left column. Then, select Assign Tax Fields, which appears just below Taxes.
- Click the W-2 Fields button.
- Verify that the appropriate payroll fields are assigned to each box on the W-2 form.
- Set up the employee's record (if it is not already).
- From the Maintain menu, select Employees/Sales Reps.
- Enter the information needed to establish a new employee record. Then, select Save.
- Repeat the above procedure for each new employee.
- For each employee who needs an after-the-fact W-2, enter the calendar year payroll balances. This information is to be entered on the individual's employee record.
- From the Maintain menu, select Employees/Sales Reps.
- Enter or select the employee ID. Select the Employee Beginning Balances button on the General tab.
- In the Date field of the first vacant column, enter the last date of the current payroll tax year. For example, if you are printing 2011 after-the-fact W-2 forms, enter 12/31/11 in column 1.
- In the new year-end column, enter each payroll field's year-to-date total for this one employee. For deductions, include a negative sign (-) at the beginning of each amount that is to be subtracted from gross pay. To record the W-2 totals, select Save.
- Repeat the above process for each new employee who requires a W-2 form.
-
Print the Yearly Earnings report.
This report will help to verify that correct beginning balance amounts were entered in Maintain Employees/Sales Reps. These amounts will be printed on employee W-2 forms.
- If any adjustments need to be made for the employee's year-to-date earnings, return to the employee's record in Maintain Employees/Sales Reps, and edit the beginning balances.
Note: Employee beginning balances do not affect Sage 50's general ledger. They are only used to update employee year-to-date earnings and print quarterly and annual payroll forms.
To print after-the-fact employee W-2 forms
After verifying that the employee's payroll information is entered correctly (see above), you can print W-2 forms through the Payroll Tax Form Selector.
Note: You must subscribe to one of the Sage Business Care plans to print W-2's from within Sage 50.