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Abila MIP Tax Reporting Overview
- 1. Live Webinar: Start Time: 1:00 pm CST (2:00pm EST) Webinar Audio: You can dial the telephone numbers located on your webinar panel, or listen in using your microphone or computer speakers. We will begin shortly.
- 4. Net@Work Overview Solutions & Services Nonprofits Solutions
- 5. A Thought for Today ….
- 6. It’s time to begin to finalize your Year-end Reports
- 7. Let’s Start with the 1099’s….. We’ll cover 1099’s pretty in-depth, and then move more quickly to the other year-end reports. The process for all forms is much the same!
- 8. 1099 Year-End Reconciliation Reports
- 9. 1099 Year-End Reconciliation Report Setup
- 10. 1099 Year-End Reconciliation Report Setup (Continued)
- 11. 1099 Year-End Reconciliation Reports
- 12. What if I See other Issues Along the Way?
- 13. You are now Ready for Aatrix The reconciliation work you’ve completed will make you more comfortable as you are working through the generation of the actual 1099 forms! AND
- 14. But – Stop a Moment before Aatrix and Check your organization’s Federal and State ID’s You’ll need those to be correct for W-2’s also, and for the 1094/1095 ACA Reports as well
- 15. Once your Reconciliations are Complete and You’ve Checked the Org ID’s
- 16. You are now Ready to Generate your 1099’s –BUT…..
- 17. Test Drive allows you to walk through the process….
- 18. Aatrix Filing Choices and Functionality
- 19. So ----- Let’s move to W-2’s
- 20. Suggested Reports for Reconciliation Work Relating to Payroll
- 21. Suggested Reports for Reconciliation Work From Payroll (Continued)
- 23. The Layout of My Reconciliation Report
- 24. Ready for Aatrix and W-2 Preparation for Payroll
- 25. Important Wizard Questions for W-2s/W-3
- 26. If All Looks Correct in the Display Grid?
- 27. What about the 1094/1095’s for ACA?
- 28. The 1095 Input Form, and it’s Question…
- 29. What about the 1094/1095’s for ACA? o Activities | Payroll | Tax Forms and eFiling by Aatrix menu selection
- 30. Due Dates for the ACA Reports 1094 and 1095??
- 31. End Result of this IRS Notice??
- 32. And --- Aatrix is making some offers on Pricing….
- 33. Here is the pricing info Combined Reporting--
- 34. Here is the pricing info for solely ACA Reporting--
- 35. And, they do offer Archiving via CD -
- 36. In Summary
- 37. Last Reminder of ….……Your Step-by-Step Avenue to Success
- 38. And, Last --- but Certainly Not Least…..
- 39. Relax and Breathe Deeply! ….Till Next Year…..
- 40. Thanks for Being Here Today! Jeannie Huckstep, CPA, CITP Net@Work Nonprofit Solutions Practice Director Direct: 417-447-0005 Email: jhuckstep@netatwork.com
Editor's Notes
- Just a little bit about the other applications available through Net@Work...... We are a technology driven organization – and have provided various of the above Sage Software products for many years… NonProfit – ERP – MAS 90/200/500 – and AccPac Sage CRM Abra HRMS, and all of it’s possibilities Web Development and ECM ECM – Wonderful new addition – full connectivity to MIP – with Dashboards as well! Also full Workflow on data entry and approvals Dashboards
- We all think differently, and you will see a concentration here today toward making sure everything is right within your system – before you even begin to think about Aatrix and getting the forms ready. But – Yes, we will definitely also be going through Aatrix and your Options and Opportunities for that!
- It’s sort of like a Bank Reconciliation? If your bank req doesn’t balance – it’s seriously unlikely that your revenue and expenses are right? (Jeannie’s Soapbox) Same is true with Aatrix…… If there are underlying data issues – there are going to be Aatrix issues!
- The reality is that the system is only going to print what it finds. It’s a computer --- it doesn’t know whether the info is right or wrong….. It does what it’s told…… You must determine whether the info is correct or not!
- We’ll start with 1099’s – We will cover a lot of stuff here – BUT – you will be able to download a format of the reports I’ll show and talk about today…… And – I’ll go through what it takes to reconcile, but also then will walk through the Aatrix wizard!
- I used one of the Abila Templates – Journals – Cash Journal – Default Template – Summary | This Year These reports will show what you need to be sure all values to be reported are OK
- On the Filter Tab, select the Vendor Issue 1099 field to filter, with data = Yes Review results and determine if adjustments may be needed - Watch for the two-Vendor boxes entered…….Unless you know for certain that the Vendor has both Rent and MISC – better check for a potential keying error on the 1099 Box field… Easy enough thing to happen.
- First point not likely, as the EIN is a required field if you mark the Vendor as 1099able --- UNLESS --- you marked the “Applied For” box Look at your report, and if there is
- By Going through a good Reconciliation Process – you really do avoid issues when you get to Aatrix…. If you find errors -- wrong 1099 box, an amount that gets added in, but for which the amount was not 1099’able ----Here’s where you make corrections for 1099 purposes You can make negative entries on this form as necessary
- Life is better when you aren’t worrying whether the info is right or wrong when you get to Aatrix!
- Have used Menu Selections on both of the above…. So - Just make sure they are Correct when you do your first run of 1099’s.
- Just click the Forms update at top right to update your forms, if you don’t see the 2015 forms in the Form drop-down. This will help you know what you can move forward to W-2 Prep and to the 1094/1095’s. If the box is greyed out – your forms are UpToDate! If Not ---- you have to update! I’ve seen some where I couldn’t do the Auto-Update ----- but the Download worked really very well! Just Download, and go to Downloads, and you have a MIP.exe file…..Just kick it off.
- Mention the Sexist Nature of this picture…. There were also pictures of women instructing Men in the Clip Art Version I use
- Test Drive allows you to Walk Thru ---- and see the result ---- even get an Email Confirm that all processed appropriately ---- but you haven’t hurt Anything! And – there are other questions you’ll answer ---- but pretty intuitive… Neat Feature ---- the Test Drive!
- So – just make your choice and go on! Once you are in the grid where you see the values by Vendor – you are essentially able to take a quick look – compare to your reconciliations…… And then make the decision to eFile or Print – and you are done! Package Pricing is substantially Less than Quarter to Quarter pricing
- The Reconciliation I talk about here really does relieve the pressure that we all feel when Congress doesn’t to their work in time for Abila and Aatrix to get the forms updated as early as we would like. Spent the time reconciling as vs Stewing….Then, when aatrix is ready – You are Ready!! This time – the Guy Drives, and the Woman tells him what to do! (the Cartoon)
- These are the reports that tell the story!
- But – do make sure they make sense to you, as you will use them in the future! 125 Deductions reduce taxable earnings for Federal | State | MC | SS 401k Deductions reduce only Federal and State SUTA has different attributes by state - possibly
- These tax attributes are represented – and you can see this is a simple way of seeing what you are going to find when you see the W-2’s in Aatrix. And – you’ve had time to think about the entire scenario, so life will be easier when you see the numbers in Aatrix that match to this spreadsheet. The Note suggests that you run a Form 941 Worksheet for the entire year --- and these calculations need to agree.
- This time – the Guy Drives, and the Woman tells him what to do!
- If in the course of things, you find that you’ve made an error in a previous quarter Form 941 ---- unless it’s significant, just create your Q4 Form 941 to bring all to balance. It’s really easier to simply eFile, and let Aatrix send out the W-2’s to your EE’s!!!
- Next Screen will show that!
- On each of the lines, when you enter January --- you will be prompted to complete all 12 months, if that is appropriate ----- With the Above Question! Be Careful with the Instructions on that input form below the Part II. Line 14 is pretty clear Line 15 is also pretty clear Line 16 suggests a Safe Harbor – and you want to know what you are doing when you create that one!!! HOWEVER!!! - the only line of that input that is on the 1095-B is the Code for Origin of the Policy (virtually all of you will be making the B entry for Employer Provided Coverage) AND --- the Covered Individuals, and the months they were covered in 2015!
- You will be able to see if you Test Drive Aatrix for the 1095’s ---- particularly using the NTO Database, that you could complete the info in Aatrix. However --- if you have even 100 Employees, you’ll see that is a big Pain!
- You will be able to see if you Test Drive Aatrix for the 1095’s ---- particularly using the NTO Database, that you could complete the info in Aatrix. However --- if you have even 100 Employees, you’ll see that is a big Pain!
- You will be able to see if you Test Drive Aatrix for the 1095’s ---- particularly using the NTO Database, that you could complete the info in Aatrix. However --- if you have even 100 Employees, you’ll see that is a big Pain!
- You will be able to see if you Test Drive Aatrix for the 1095’s ---- particularly using the NTO Database, that you could complete the info in Aatrix. However --- if you have even 100 Employees, you’ll see that is a big Pain!
- I’m not certain that’s a bad deal or a great deal ---- but sure seems cheap insurance to me.
- Tips: Packages are Cheaper Reconcile before you print the 1099’s or W-2’s Check your workpapers against the grid before printing the actual forms If you have Bunches --- it’s much less stressful to just let Aatrix even mail the forms! Don’t get excited about the tax tables ---- what will be will be --- by way of what state withholding your EE’s have at EOY!
- Please Feel Free to reach out at any time!