The following are yearly procedures for Payroll:
Which Entry Item |
In Which Menu |
Special Instructions |
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Buy computer W2 forms. Call the Perfection Software Support Department to receive the latest W2 print program if it has changed. |
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If applicable, change the Supplemental Earning Percent, the Employee and Employer Social Security Percent, the Employee and Employer Medicare Percent, the Maximum Social Security Wages, the Maximum Medicaid Wages, Federal Unemployment Percentage, and the Maximum FUI Wages. |
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3. State Tax Values (If applicable) |
If applicable, change the Supplemental Earning Percent, the Employee and Employer Social Security Percent, the Employee and Employer Medicare Percent, the Maximum Social Security Wages, the Maximum Medicaid Wages, the State Unemployment Percent, and the Maximum SUI Wages. |
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4. City Tax Values (If applicable) |
If applicable, change the Supplemental Earning Percent, the Employee and Employer Social Security Percent, the Employee and Employer Medicare Percent, the Maximum Social Security Wages and the Maximum Medicaid Wages. |
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After receiving the new Circular E, check to see if any changes have been made. Be sure to make changes to all of the Tax Table Id's (example - FED-S, FED-M). |