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academy:business_payroll_firstpayrollofthecalendaryearchecklist
First Payroll of the Calendar Year Checklist
The purpose of this document is to guide you through the necessary steps to process the first payroll of the calendar year.
W-2 processing does not have to be completed prior to the first payroll of the calendar year. When the pay date year is different from the current calendar YTD year and the first payroll of the year is processed, it creates a new calendar year record for each employee, because the system stores each calendar year separately.
This document assumes you are familiar with the basic features of the ASCENDER Business system and have reviewed the ASCENDER Business Overview guide.
| ❏ | 1. Payroll > Tables > Pay Dates
• Verify the first pay date in the Pay Date field reflects the year of the new calendar year for each pay frequency. It must contain the year of the new year, in order for the system to create the next calendar year-to-date record and not add that payroll to the existing calendar year-to-date record. |
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| ❏ | 2. The tax tables for the new calendar year must be updated for each frequency before the first payroll of the year is processed. There is no need to delete the previous calendar year tables. If you are not sure how to set up a table, refer to the online Help for each specific page. The following tables in Payroll should be updated:
• Payroll > Tables > Tax/Deductions > Exemptions (Per IRS requirements, exemptions will no longer be used as of the 2020 calendar year. As a result, all fields were removed from this tab for calendar years greater than 2019.) |
| ❏ | 3. Use the IRS Publication 15-T to update the tax tables. After the tables have been completed, print each table to verify accuracy. If you do not have IRS Publication 15-T, it can be found on the IRS website: https://www.irs.gov/publications/p15t. Verify that the Supplemental Tax Rate is correct on the Payroll > Tables > District HR Options page. |
| ❏ | 4. Payroll > Payroll Processing > Run Payroll When you are ready to process your first payroll, verify the payroll information is correct. It is important that the pay date, as well as the begin and end pay dates, reflect the new calendar year. Also, be sure to verify the TRS month and the TWC quarter are correct. |
| ❏ | 5. Payroll > Reports > Year To Date Reports > HRS3000 - Calendar Year To Date Report After each payroll frequency is processed, print the report and verify the year-to-date information consists of only the first payroll run for the new year. |
| ❏ | 6. You do not need to delete employees that are no longer with your LEA. By not deleting the employees, you continue to have access to all previous data for the employee, including calendar, school and TRS YTD; payroll inquiry and verification of employment, service record, W-2 data along with other benefits. However, after you print the W-2s, if you want to delete the inactive employees, use the Personnel > Utilities > Mass Delete > Employee Data and select those employees you wish to delete. It is not recommended to delete employees who were active during the current school year and/or contract year. |
| ❏ | 7. Don’t forget to process W-2s for the previous calendar year. Refer to the ASCENDER - Process W-2 Forms instructions to assist you in printing the verification reports and W-2s, creating the W2REPORT submission record, and updating the W2 Inquiry page for all employees. |
academy/business_payroll_firstpayrollofthecalendaryearchecklist.txt · Last modified: 2022/06/29 14:39 by emoreno