End of Year Processing

Use the end-of-year processing menu to save W-2 information before year-end so that W-2s can be printed after the year has been closed. This allows you to begin processing in the new year without having to print W-2s. You can then print and verify W-2 information in January after the rush of the year-end close-out.

After all year-end reports have been run (see end-of-period menu), you can run the W-2 Information Capture program. This program saves the W-2 information for the year being closed in a separate file so that processing can begin in the new year. Any time after this program has been run (before or after year-end close-out), you can modify what is to print on the W-2s through the W-2 Capture F/M program. You can run the W-2 Print program to provide employees with W-2 forms for tax purposes. The W-2 Electronic File Update can also be run along with the W-2 Electronic File Report if magnetic tape reporting to the government is required.

The Affordable Care Act has generated filing requirements under Internal Revenue Code Section 6056. Some employers are required to file Forms 1094B and 1095B, and some employers are required to file Forms 1094C and 1095C for 2015. It is solely your responsibility to know whether you are required to file and which forms you must file.

If you are required to file these forms and your filing needs are covered by the ACA 1094/5 Management (PRE109) program, this solution and associated Microsoft® Excel spreadsheets are available for you to enter employees’ dependents and retrieve FACTS-based data that can assist you in completing these forms.

The FACTS programs and processes referenced cannot determine or indicate what forms must be filed or the information for those forms. Tax data and filing decisions are the sole responsibility of you.