There's two choices.
One method is to keep track manually in Excel and type up manual W-2's or
manually adjust the Vantage W-2's.
The other is to enter the checks in Vantage and give them check numbers out
of sequence with the "real" checks. Then make reversing journal entries. I
enter a reversing bank transaction to balance and reconcile the payroll bank
account and then use a general journal entry to adjust the Medicare and
Social Security employee portions.
It is a cumbersome type of thing to track 3rd party sick pay via Vantage,
but we do it anyway so that the 941's produce the right information via
Vantage and at year end, the W-2's foot and 941's balance to W-2's via
Vantage computer processing, vs. using Excel spreadsheets to balance and tie
out.
We do not have car allowances. The fringe benefits have the same sort of
option. Type up a separate W-2 or adjust the W-2's manually in Vantage
after everything else has been tied out. 1999 was the first year that
allowed fringe benefits to appear on the W-2 with wages instead of having
two W-2's. I don't know yet what fun changes there are to W-2's this year.
Deb Wilmoth
Controller
Reeder & Kline Machine Company, Inc.
-----Original Message-----
From: Paul R. Morrison, Information Systems Manager
[mailto:rmp@...]
Sent: Monday, August 21, 2000 8:36 AM
To: 'vantage@onelist.com'
Cc: Ron LaHolt; Jane Carmichael
Subject: [Vantage] Vantage 4.0: 1Question for Payroll users
1. How do you manage tracking of wages paid to an individual by a 3rd
party sick pay, ie disability payments?
2. How do you manage a taxable fringe benefit such as a car allowance?
Please reply to ron@....
Paul R. Morrison, Information Systems Manager
[Non-text portions of this message have been removed]
One method is to keep track manually in Excel and type up manual W-2's or
manually adjust the Vantage W-2's.
The other is to enter the checks in Vantage and give them check numbers out
of sequence with the "real" checks. Then make reversing journal entries. I
enter a reversing bank transaction to balance and reconcile the payroll bank
account and then use a general journal entry to adjust the Medicare and
Social Security employee portions.
It is a cumbersome type of thing to track 3rd party sick pay via Vantage,
but we do it anyway so that the 941's produce the right information via
Vantage and at year end, the W-2's foot and 941's balance to W-2's via
Vantage computer processing, vs. using Excel spreadsheets to balance and tie
out.
We do not have car allowances. The fringe benefits have the same sort of
option. Type up a separate W-2 or adjust the W-2's manually in Vantage
after everything else has been tied out. 1999 was the first year that
allowed fringe benefits to appear on the W-2 with wages instead of having
two W-2's. I don't know yet what fun changes there are to W-2's this year.
Deb Wilmoth
Controller
Reeder & Kline Machine Company, Inc.
-----Original Message-----
From: Paul R. Morrison, Information Systems Manager
[mailto:rmp@...]
Sent: Monday, August 21, 2000 8:36 AM
To: 'vantage@onelist.com'
Cc: Ron LaHolt; Jane Carmichael
Subject: [Vantage] Vantage 4.0: 1Question for Payroll users
1. How do you manage tracking of wages paid to an individual by a 3rd
party sick pay, ie disability payments?
2. How do you manage a taxable fringe benefit such as a car allowance?
Please reply to ron@....
Paul R. Morrison, Information Systems Manager
[Non-text portions of this message have been removed]