Payroll Support Document

What to Know

This document discusses the aspects of your Payroll process that you should know.

For the 941 Deposits and Reporting (FWT, FICA & MEDI, Employer FICA & MEDI):

Are deposits done Weekly, Biweekly, Monthly, Quarterly, or Annually?
Who is responsible for doing deposits?
What is the method of payment? Is it ACH, Online, Phone, or by Check?
What is the process for completing the 941 payment?
Who justifies the difference, if any, between Federal wages and FICA/Medicare wages?
Who completes the 941 quarterly reports?
Who reconciles the quarterly 941s to the W-2s?
The information for 941 Deposits can be found in the NEMRC Payroll module's "Q. Tax Summary Report," off the "R. Reports Menu." A document covering this Report Menu Item can be found at http://www.nemrc.com/support/payroll/PR_RQ_SUMMARY_REPORT/.
The information for Balancing W2s can be found in the NEMRC Payroll module's "K. Federal Form 941," off the "R. Reports Menu." A document covering this Report Menu Item can be found at http://www.nemrc.com/support/payroll/PR_RK_FEDERAL_FORM_941/.
The information for Balancing W2s can be found in the NEMRC Payroll module's "O. Process W2s," off the "R. Reports Menu." A document covering this Report Menu Item can be found at http://www.nemrc.com/support/payroll/PR_RO_PROCESS_W2S/.

For the State Withholding Tax (SWT) Deposits and Reporting:

Are deposits done Weekly, Biweekly, Monthly, Quarterly, or Annually?
Who is responsible for doing deposits?
What is the method of payment? Is it ACH, Online, Phone, or by Check?
What is the process for completing the SWT payment?
The information for SWT Deposits can be found in the NEMRC Payroll module's "Q. Tax Summary Report," off the "R. Reports Menu." A document covering this Report Menu Item can be found at http://www.nemrc.com/support/payroll/PR_RQ_SUMMARY_REPORT/.
Who justifies the difference, if any, between State wages and FICA/Medicare wages?
Who completes the SWT quarterly reports?
There is a WH-432 form that must be submitted quarterly for Vermont State Taxes.
Catamount Health Care reporting is part of the WH-432 form filing.
Who reconciles the quarterly SWT to the W-2s?
The information for Balancing W2s can be found in the NEMRC Payroll module's "O. Process W2s," off the "R. Reports Menu." A document covering this Report Menu Item can be found at http://www.nemrc.com/support/payroll/PR_RO_PROCESS_W2S/.
There is a WH-434 form that must be submitted annually for Vermont State Taxes.

For the Vermont Municipal Employees Retirement System (VMERS) Deposits and Reporting:

Which group(s) need to be reported for your organization? (The groups are: A, B, C, and/or DC.)
Are deposits done Weekly, Biweekly, Monthly, Quarterly, or Annually?
Who is responsible for doing deposits?
What is the method of payment? Is it ACH, Online, Phone, or by Check?
What is the process for completing the VMERS payment?
Who completes the VMERS quarterly reports? The same person should reconcile the quarterly reports as well.
How are the quarterly reports filed? Are they submitted Online, on a Disc, or mailed?
NEMRC has developed several custom reports and routines to aid in the VMERS reporting. For documentation on these custom reports, go to www.nemrc.com and look under the Support (FAQ)'s Payroll section.

For the Vermont State Teachers Retirement System (VSTRS) Deposits and Reporting:

Are deposits done Weekly, Biweekly, Monthly, Quarterly, or Annually?
Who is responsible for doing deposits?
What is the method of payment? Is it ACH, Online, Phone, or by Check?
What is the process for completing the VSTRS payment?
Who completes the VSTRS quarterly reports? The same person should reconcile the quarterly reports as well.
How are the quarterly reports filed? Are they submitted Online, on a Disc, or mailed?

Various other Deductions

Other Deductions include (but aren't limited to): Health, vision, dental, and premium co-pay deductions.
What is the frequency that you are supposed to withhold deductions on (Weekly, Biweekly, Monthly, Quarterly, or Annually) and for what amount?
What vendor (3rd party) are each of these deductions paid to, and what is the frequency that each vendor requires for the payments?
Who is responsible for making the payments?
Who is responsible for reconciling the statements? Sometimes there may not be statements.

Direct Deposit Deductions (ACH):

Direct Deposits MUST be done every pay cycle.
To do Direct Deposit, the bank needs to allow you to process ACH files online. The bank will provide the username and password for these transfers. NEMRC will provide instructions on creating the file, and the bank will provide instruction on how to use that file in their system.
Employees that use Direct Deposits need to provide you with their ABA (the Bank Routing number), account number, and account type. The account type must be either a checking or a savings account.
A formal authorization form should be signed by the Employee for each account to have money deposited into. This form is to provide proof that the Employer is authorized to deposit the money into the Employee's account.
For a sample of this form go to www.nemrc.com and look under the Support (FAQ)'s Payroll section.
Who is responsible for Direct Deposits?
What is the process your organization follows to do Direct Deposits?

Vermont Department of Labor New Hire Reporting (VT DOL):

The following form should be completed and submitted to the DOL accordingly.
Important: Employers must submit this within twenty (20) days of an Employee's first day of work.
http://www.labor.vermont.gov/Portals/0/UI/C-101%20Quarterly%20Wage%20and%20Contri.pdf
The link to the VT DOL homepage is: http://www.labor.vermont.gov
Who is responsible for completing/submitting this form?