Posts Tagged ‘W-2’

What happens if I update Payroll tax tables and…

Hello all, here is something I was asked recently:

“I have processed my 2012 payrolls for the year, my IT is always on the latest and greatest regarding service packs, hotfixes, updates etc, and they installed the 2013 payroll tax tables update, and I have not executed the Payroll Year End, can I close it anyway?”

Short answer: Yes you can close it, but it will be incorrect.

Please if this happens to you, make sure to restore the Dynamics DB prior to the install of the payroll tax table update because I am sure you always do a backup of your databases prior to any updates installed right?

Leslie Vail has a post from 2011 where she explains how FICA/S wages and withholding is calculated Leslie’s Post

NOTE FOR LESLIE (Step 5b says “he year-end” instead of “the year-end”Smile)

But I wanted to provide a graphical representation of it

01-09-2013 12-21-51 PM

 

Until my next post…

 

Francisco G. Hillyer

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