PAYROLL TAX VARIANCE MANAGEMENT
As a Full Spectrum ERP Solution, Centerprism fully addresses Payroll Tax Management with a comprehensive Payroll Tax Variance solution.
- Centerprism’s Payroll Tax Variance module enables payroll staff to prevent, find, and resolve configuration, wage, and tax variances in Dynamcs GP. Check the Prism Dashboard™ to uncover any configuration variances before processing the payroll. Use PrismView™ to confirm the “build/Calc” results prior to posting payroll or use it to uncover previous variances in check history and accumulator tables. Run the PrismEdit™ tool to synchronize tax flags on pay, deduction, and benefit cards to their corresponding setup records or to update check history for missing state tax, SUTA, or work’s compensation.
- Centerprism’s Payroll Tax Variance module resents all data necessary for filing deferal, state, and local tax forms, so that payroll staff can effortlessly pay and file taxes.
Following the advice of Benjamin Franklin, Centerprim’s Payroll Tax Variance module supplies more than “an ounce of prevention”. Payroll staff can confirm configuration settings prior to processing payroll. They can also analyze the “Build/Calc” results before posting to ensure all wage and tax calculations are in sync.
- Check the Prism Dashboard™ for configuration variances prior to processing payroll.
- Review tax setup configuration for federal, state, local, FUTA, SUTA, & worker’s compensation using PrismView™ .
- Review pay code, deduction, and benefit setup data for tax flags, tax rates, and other configuration details using PrismView™ .
- Compare setup data to employee cards for pay codes, deductions, and benefits.
- Configure works locations for identifying state and local tax jurisdictions.
- Review state receprocity agreements built into the module.
- Compare state information from work location to employee master data, pay codes, state tax codes, and SUTA.
- Compare county and local jurisdiction information work location to employee home address and local tax.
- Review “Build/Calc” results prior to posting for possible variances.
Murphy’s law suggests that wage and tax variances might occur even with strong prevention efforts. Centerprism’s Payroll Tax Variance module pinpoints variances by marrying the PirmsView™ technology with over 250 tax variance queries. Find configuration variances for pay codes, deductions, and benefits.
- Find configuration variances for pay codes, deductions, and benefits.
- Find state tax and SUTA code variances based on work locations and state reciprocity agreements.
- Find local tax code variances based on work locationsand employee home addresses.
- Find wage and tax variances in the posted check history tables.
- Find wage and tax variances in the accumulator tables.
- Find summation variances between check history and the accumulator tables.
- Find wage, tax, and special code variances in the EOY (W2) wage and tax file.
- Create monthly FUTA and SUTA history records.
- Find wage and tax variances between the check history and FUTA/SUTA history tables.
Centerprism’s Payroll Tax Variance module equips payroll staff, who lack SQL script understading, to correct some configuration, wage and tax variances. The list below highlights the opportunities for resolving variances. Contact your Dynamics GP partner for more complex or extensive variance resolution.
- Double-click on lines in the variance grid to open or edit information.
- Sync tax flags on pay code, deduction, and benefit cards with corresponding setup data using PrismEdit™ .
- Sync SUTA and worker’s compensation codes in check history for a date range using PrismEdit™ .
- Flag non-standard configuration and check history records as “validated” using PrismEdit™ to clear from variance grids.
- Enter manual checks and associate with out-of-sync records to maintain an audit rail and to clear from variance grids.
In light of Benjamin Franklin’s observation of the certainty of “death and taxes”, Centerprism’s Payroll Tax Variance module reduces the pain of filing federal, state, and local payroll taxes. All required data, taxable wages, wages over limits, tax owed, headcounts, employee data for each jurisdiction is presented on an easy-to-use report. A printable version, when permitted by the jurisdiction, saves filing time.
- Form 941 – Employer’s Quarterly Federal Tax Return (by month to recon and by quarter to file) for federal, FICA social security, and FICA Medicare taxes.
- Form 940 – Employer’s Annual Federal Unemplyment (FUTA) Tax (by month to recon and by year to file) forempyer’s FUTA tax.
- Form 945 – Annual Return of Withheld Federal Income Tax (by month to recon and by year to file) for non-payroll payments like pensions and annuities.
- State income tax withholding forms.
- State unemployment (SUTA) forms.
PrismView™ – PrismView™ is a real-time screen viewing tool that uses advanved technology to present dynamic views of inventory and warehouse activity. Its flexible, easy-to-use navigation grid, GroupBy™ drag-in functionality, and instant access to data of virtually eliminates the need to use Excel pivot tables, 3rd party analysis tools, or SmartLists™.
- PrismGroup™ – instant multi-hierarchical grouping.
- Field Chooser™ – drag and drop fields to add or delete columns.
- PrismFilter™ – easy enhanced filtering, sorting, expanding, and drill downs.
- Prism Summaries™ – mathematical calculations (sum, count, average) for instant display.
- PrismEdit™ – mass data edit.
- Dynamic Drill Down™ – PrismView™ attributes are built into data drill down screens.