Latest News

 




12/22/2017 - 2017 Year End for Vision
Posted by: Chad Heaton

Happy New Year To our friends and clients:

We would like to thank you once again for choosing Vision.

Your continual trust over the years is greatly appreciated.

BEST WISHES FOR A HAPPY, PROSPEROUS NEW YEAR!

Vision W2 and IRS e-file Changes

We have become certified to print out the entire W2 form on standard printer paper. Also, Payroll will create an electronic data file that can be uploaded directly to the SSA's website. We will announce the release of a new version of Payroll as soon as the Federal Tax Tables have been updated.

Once the update is released feel free to contact our trusty support staff to answer all of your questions.


IRS W2 Changes

There have been no format changes for W-2's this year, though there are some new options. Please refer to 2017 IRS W2 and W3 Instructions for further instructions. Please refer to the How To - Vision W2's And 1099's provided with the link below.

The 2017 Publication 15 (Circular E) is available for downloading. You may also refer to Notice 1036. Note the social security rate will remain at 6.2%. There is also an additional Medicare tax of .9% on wages paid above $200,000. This additional tax is only paid by the employee.

Vision customers, your applications will automatically be updated pending any new changes. The Withholding Allowance Schedule is on page 1 of Notice 1036. The Annual Tax Schedule is located on page 3 and 4 of Notice 1036.

Note: If you have multiple Social Security and Medicare rates, adjust accordingly.

Helpful Links:

How To - Vision W2's And 1099's

2017 IRS W2 and W3 Instructions

2018 Standard Mileage Rates

2017 Publication 15 (Circular E)

Year End Procedures (Vision)

Here are some helpful hints for preparing 2017 year end

Remember there is no year change in Vision!

Financial year end tips

   · Process 1099s in the Forms menu. (How To - Vision W2's And 1099's)
   · 508.xx (select either .10 reserved or .80 unreserved) Ending Fund Balances are New General Journal debit postings.
   · All state schedules and annual reports are provided in the Washington folder of the Reports home page.
   · Backup data to appropriate media(disk, flash drive, etc.) and hold for the WA State Auditor's request. (located in the Vision backups folder)
   · Electronic Schedule 01 for the state is located in the Washington folder of the Reports page. (Export to CSV or Excel and send to State Auditors)
   · Set up Council Meeting dates for 2018 in Setup Fiscals on Home page.
   · 2018 Budget in Budget Forecasting. (How To Guide Financials)
   · 308.xx (assign to either .10 reserved or .80 unreserved) Beginning Fund Balances are New General Journal credit postings.

Open Period

   · You have the ability to set up a January 2018 council meeting for 2017 obligations.
   · Go to Setup Fiscals on Home Page of Financials.
   · Highlight 2017 in the Fiscal column and December in the Period column.
   · Click the + button above the Council Date to add the meeting for open period payments.
   · It is recommended that a new Council Meeting also be set up in the month of December for a 2017 corrections period as well. All end of year corrections will be easily identifiable.

Reports to run for Financials
To create a set of paperless reports:

   · Create a new folder 2017 End of Year in desired location
   · Run desired reports, select Acrobat(PDF) file format, and Export, save report in 2017 folder
   · Reports may be printed if desired
   · All report parameters should include the fiscal year desired, and all periods within that year
   · Account Activity - Rendered for Excel (this report is not for printing, there are too many columns)
   · Outstanding Transaction Directory
   · Register
   · Transaction Activity
   · Vendor Activity
   · Annual Reports are in the Washington folder on Reports home page

Payroll year end tips

   · Process W-2s in the Forms menu. (How To - Vision W2's And 1099's)
   · Remember, payroll for 2018 may be processed before W-2s are printed.
   · Set up Pay Periods for 2018 in Setup Pay Periods on Home page.
   · Change new L&I and Employment Security rates in Components.
   · Remember, rate changes for all components may be changed very quickly by selecting the component, clicking on the Employee tab, and changing all employee amounts on one screen

Reports to run for Payroll

   · Benefit Summary (for each Component Group)
   · Component Activity
   · Component Directory
   · Component Employee Directory
   · Cost Center Account Activity (Detail option)
   · Cost Center Timesheet Activity
   · Employee Activity
   · Employee Component Directory
   · Paycheck Activity
   · Paycheck Detail Activity
   · Payroll Distribution
   · Register
   · Timesheet Activity
   · Timesheet Summary Activity

Vision W9
Vision Forms W9

Please contact Ryan for more information.


12/22/2017 - 2017 Year End for ASP
Posted by: Chad Heaton

Happy New Year To our friends and clients:

We would like to thank you once again for choosing Vision to support your ASP needs.

Your continual trust over the years is greatly appreciated.

BEST WISHES FOR A HAPPY, PROSPEROUS NEW YEAR!

IRS W2 Changes

There have been no format changes for W-2's this year, though there are some new options. Please refer to 2017 IRS W2 and W3 Instructions for further instructions. What this means to you is that the application that Vision provided to you last year will continue to provide a solution for the ASP product line. Please download the ASP 1099 & W2 Instructions provided with the link below.

The 2017 Publication 15 (Circular E) is now available for downloading. ASP customers will find the the Withholding Allowance Schedule on page 1 of IRS Notice 1036. The Annual Tax Schedule is located on page 4, Table 7 of Notice 1036.

Please note the social security rate will remain at 6.2%. There is also an additional Medicare tax of .9% on wages paid above $200,000. This additional tax is only paid by the employee.

Note: If you have multiple Social Security and Medicare rates, adjust accordingly.

Helpful Links:

ASP W2's And 1099's

2017 IRS W2 and W3 Instructions

2018 Standard Mileage Rates

2017 Publication 15 (Circular E)

Year End Procedures (ASP)

Wrapping up 2017 - ASP Year End Task List

Here are some tips on how to get ready as the end of year approaches.

Payroll:

   · Remember to process your W-2's before you close 2017 in Payroll
   · Make at least two backup copies
   · Print any hard copies of reports you wish to keep
   · Do your year-end close for 2017 ( You must close 2017 before you journal any payroll in 2018)

Budget:

   · If you posted 2018 budget as a next year item, make sure it is journalized before you close 2017
   · If you posted 2018 budget as a current year item, do not journal until you have closed 2017
   · Post your ending fund balances to your 508's in the General Journal Posting
   · Print all desired reports
   · Make at least 2 backup copies
   · Remember to close the month and the year at the Year End Close

Vision W9
Vision Forms W9

Please contact Ryan for more information.


Do you have questions about our software?

We are ready to help you find the solutions that fit your needs. Contact us today to get started.