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How to adjust W-2 Information for an Employee Using Transaction History

Created on  | Last modified on 

Summary

In Sage 300, ensure accurate tax reporting by adjusting an employee's W-2 amounts.

Description

Use the details in this video and table to adjust an employee's W-2.

Below the video is a table with current W-2 box descriptions, associated record types, and specific fields to modify.

Disregard the part of the video that asks you to search the knowledgebase. The table has the latest information. 

Resolution


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Note: This table contains the content the video mentions.

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W-2 Box

Description

Record Type

Record

Setup Field to Modify

Transaction History Field to Modify

Notes
a Control Number          
b Employer Identification Number Federal & State Taxes USFIT Basic Info - Reporting ID   W-2s on Paper - EIN
c Employer's Name, Address, Zip Code Government Reports W-2s on Paper Employer Information   Company Profile - Address Tab
d Employee's Social Security Number Employee   General - SSN    
e Employee's First Name and Initial Employee   General - First + Middle Name    
f Last Name Employee   General - Last Name    
1 Wages, Tips, Other Compensation Federal & State Taxes USFIT   No Ceiling Wage  
2 Federal Income Tax Withheld Federal & State Taxes USFIT   Employee Extended Amount  
3 Social Security Wages Federal & State Taxes USSS   Ceiling Wage  
4 Social Security Tax Withheld Federal & State Taxes USSS   Employee Extended Amount  
5 Medicare Wages and Tips Federal & State Taxes USMED   No Ceiling Wage  
6 Medicare Tax Withheld Federal & State Taxes USMED   Employee Extended Amount  
7 Social Security Tips Federal & State Taxes USSS   Ceiling Wage  
8 Allocated Tips Earning Allocated Tips   Employee Extended Amount  
9 Advanced EIC Payments Federal & State Taxes USEIC   Employee Extended Amount  
10 Dependent Care Benefits Benefit   W-2 Reporting - Dependant Care Employer Extended Amount  
11 Non-Qualified Plans Benefit   W-2 Reporting - Non-Qualified Plan Employer Extended Amount

W-2 Reporting - Section 457

NB: Entering only Section 457 Benefit code adds a code 'G' to this box.
12 Code A Federal & State Taxes USSS   Uncollected Tax on Tips  
12 Code B Federal & State Taxes USMED   Uncollected Tax on Tips  
12 Code C Benefit   W-2 Reporting - Cost of Group Term Over 50k Employer Extended Amount  
12

Code D

 Deduction   W-2 Reporting - Employee 401(k) Employee Extended Amount  
12 Code DD Deduction/Benefit   W-2 Reporting - Employer-Provided Health Care Employer/Employee Extended Amounts See KB 210-1003458 for setup details
12 Code E Benefit   W-2 Reporting - Employee 403(b) Employee Extended Amount  
12 Code EE Deduction   W-2 Reporting - Roth contributions under government 457(b) Employee Extended Amount See KB 210-1000870 for setup details
12 Code F Benefit   W-2 Reporting - Employee 408(k)(6) Employee Extended Amount  
12 Code G Benefit   W-2 Reporting - Employee 457 Employee Extended Amount  
12 Code H Benefit   W-2 Reporting - Employee 501(c)(18)(d) Employee Extended Amount  
12 Code J Benefit   W-2 Reporting - Sick pay not includable as income (3rd party sick pay) Employer Extended Amount  
12 Code K Benefit   W-2 Reporting - Excess Golden Employer Extended Amount  
12 Code L Benefit   W-2 Reporting - Allowed Per Diem Employer Extended Amount  
12 Code M Benefit   W-2 Reporting - Uncollected Social Security Tax on Cost of Group Term Over 50k Employer Extended Amount  
12 Code N Benefit   W-2 Reporting - Uncollected Medicare Tax on Cost of Group Term Over 50k Employer Extended Amount  
12 Code P Benefit   W-2 Reporting - Excludable Moving Expense Reimbursements Employer Extended Amount  
12 Code Q Benefit   W-2 Reporting - Military Employee Basic Quarters and Subsistence Employer Extended Amount  
12 Code R Benefit   W-2 Reporting - Medical Savings Account Employer Extended Amount  
12 Code S Deduction   W-2 Reporting - Simple Retirement Employer Extended Amount  
12 Code T Benefit   W-2 Reporting - Adoption Benefit Employer Extended Amount  
12 Code V Benefit   W-2 Reporting - Non-statutory Stock Options Employer Extended Amount  
12 Code W Benefit   W-2 Reporting - Health Savings Account Employer Extended Amount  
12 Code Z Benefit   W-2 Reporting - Income under section 409A Employer Extended Amount  
13 Statutory Employee Employee   Tax Info Tab - Statutory Employee - Yes    
13 Retirement Plan Deduction   W-2 Reporting - Employee 401(k) Employee Extended Amount Employee 403(b) and/or Employee 408(k)(6)
13 Third-party Sick Pay Employee USFIT Taxes Tab - Tax Info - Third-Party Sick Pay - Yes    
14 Other Benefit   W-2 Reporting - Other Information Box Employer Extended Amount  
15 State | Employer's State ID Number     Basic Info - Reporting ID    
16 State Wages, Tips, Etc. Federal & State Taxes     No Ceiling Wage  
17 State Income Tax Federal & State Taxes     Employee Extended Amount  
18 Local Wages, Tips, Etc. Local & Other Custom Taxes     * Ceiling Wage or No Ceiling Wage * Set the annual maximum earnings in the Local tax first. Then you can select Ceiling Wage to adjust. If the local tax has no taxable limit, adjust the field No Ceiling Wage.
19 Local Income Tax Local & Other Custom Taxes     Employee Extended Amount  
20 Locality Name Local & Other Custom Taxes   Basic Info - Tax