W-2 Information Capture (PRU820)

This program allows FACTS users to capture current earnings, taxable earnings, FICA, federal, state, and local taxes. The program also captures additional fields necessary to print on the W-2s.

The recent passing of the Economic Growth and Tax Relief Reconciliation Act of 2001 allows for employees over the age of 50 to contribute more than the normal maximum to their 401K plans for the next 5 years. These are commonly known as "catch-up" contributions. The W-2 Information Capture program adds the dollars of both 401K Deduction Codes together and places this total in Box D in the W-2 Capture F/M.

When you run the W-2 Information Capture, the program separates the single employee name (from the Employee F/M record) into two fields – first name (15 characters) and last name (20 characters). Be sure to review these fields using the W-2 Capture F/M and correct, if necessary.

The following fields will not be captured by this program but may be entered through the W-2 Capture F/M Program:

allocated tips
social security tips
non-qualified plan
dependent care benefits
box 12, code A
box 12, code B
box 12, code C
box 12, code M
box 12, code N
box 12, code P
box 12, code Q
box 12, code R
box 12, code S
box 12, code T
box 12, code V
box 12, code W
box 12, code Y
box 12, code Z
box 12, code AA
box 12, code BB
box 12, code CC The program defaults this code to 0.00

The program should be run at the end of the year before closing the payroll year. The purpose is to capture the information so that W-2 reports, prints and magnetic media updates can be run after the close of the payroll year.

NOTES:

W-2 information must be captured before W-2s are printed.
No tax table changes should be made to in the Tax Table F/M for the new tax year until after this program is run.

Use the following fields to capture W-2 information:

1. OK To Capture?

Enter N or YES. Enter (CR) defaults to N and the program exits.