About This Course:
Are you 100% certain that you are in compliance with federal and state payroll record keeping rules? Even a 1% degree of uncertainty can subject your organization to fines and penalties.
So why take the chance when you get up-to-date with our payroll records and payroll recordkeeping training courses.
Training For Your Payroll Recordkeeping RequirementsThe Payroll Department creates thousands of records each year. Unfortunately, there are many agencies and a multitude of rules, regulations, and paperwork requirements to comply with. And to make matters worse, different agencies have different requirements for different records - and employers must not only comply with all of them, but keep accurate records!
With all those records around, it's tempting to have a big clean-out day. But if you destroy the wrong document, you could be destroying your career.
So...if your payroll records "desk" looks like a hurricane just blew through it, your payroll recordkeeping "system" is non-existent, or if your basement is stacked to the ceiling with payroll records, let us help you organize them in a way that inspires confidence - and compliance.
What You'll Learn:This training session covers the rules for identifying, filing, retaining, protecting, and destroying your important payroll records. By attending, you and your team will learn:
- Which records must you keep - and for how long?
- Recommended record retention processes
- Do record retention rules vary by state, and if so, how?
- How electronic retention rules differ from paper standards
- How to know when it's safe to scan a document and dump the paper original
- How and where to keep W2s, 1099s, payroll tax deposits, quarterly payroll tax returns, yearly summary reports to government agencies, and other year end forms
- How to handle special forms such as local tax forms, prevailing wage reports, government contract requirements, etc.
- Electronic I-9s: How to comply with the strict new federal rules on completing, signing and retaining
- The four steps you must include in your electronic I-9 program
- How does the Lilly Ledbetter Fair Pay Act change the retention requirements for your payroll records?
- Must payroll records be kept separate from HR records?
- How to destroy records
Top FAQs
The Form W2 reports an employee's annual wages and the taxes withheld.
Yes. In many cases, state laws conflict with federal laws, so be sure to check both!
Completing forms accurately, knowing when and where to file, and doing so on a timely basis.
Payroll Administrators must be able to:
- Properly "classify" workers
- Apply the various exemptions
- Calculate gross pay and properly make deductions
- Correctly identify, pay, and withhold taxes for employees
- Administer deferred compensation, cafeteria plan, sick pay, and other compensation
- Handle stock options, expense reimbursements, relocation, and other "expenses"
- Follow the proper policies, procedures, and documentation requirements for garnishments and levies
- Properly complete and file all required reporting requirements
- Correctly complete year-end requirements and establish year-beginning requirements
- Implement and maintain fraud, audit, disaster recovery, and record retention processes and procedures
You report bonuses as wages and as social security and Medicare wages on Forms W-2 and 941
You report Medicare taxes on Form W2
Form 941 is used to report income taxes, Social Security tax, and Medicare taxes withheld from employee's paychecks.
Federal and state governments impose a variety or rules, regulations, and reporting requirements, so the hardest parts of payroll recordkeeping is knowing all of the rules, then complying - on a timely basis - with them!
In addition to ensuring that employees are paid correctly and on time, "Payroll" has numerous time and reporting requirements. The primary payroll areas include paychecks, reporting, operations, and management.
In business since the mid-1990's, we have over 25 years of experience delivering high-quality training content via seminar, webinar, online, and other formats. Each of our courses are delivered by an industry expert who will share his or her years of experience to help you be in compliance, smarter, and more productive, and almost all offer SHRM and HRCI credits.
You report Social Security info on W-2, W-3, and 941
Yes.
While many payroll-related regulations are federally-governed, there also are many state requirements, including those for handling garnishment, final paychecks, and unclaimed paychecks. Each state's requirements differ in the details, so be sure to check your state's requirements by clicking the applicable link(s) at the bottom of this page.
Payroll is much more than just handing out paychecks, and includes a variety of responsibilities such as handling garnishments, travel pay, multi-state taxation, unclaimed paychecks, and much more in a timely and accurate fashion.
Continuing Education Credits:
Click the 'Credits' tab above for information on PHR/SPHR, PDCs, and other CE credits offered by taking this course.
