New 2018 Federal Withholding Tax Tables Now Available in Payroll
If you use the ShelbyNext Financials Payroll application, then you should notice that the new withholding tables for 2018 are in place.
Church Finances and Procedures
Qualified Small Employer Health Reimbursement Arrangements (QSEHRA)
Starting January 1, 2017 employers with less than 50 employees can offer employees a reimbursement for medical insurance that provides minimum essential coverage (MEC). There are a number of requirements and regulations that should be considered before deciding to provide this non-taxable benefit. If you did comply with the required notices on or before March […]
Year-End Check List
Federal Reports Make sure you have blank forms for all IRS needed filings. NELCO has what you need. Click Here to order forms Deadline for filings now is January 31, 2018 for most reports General Ledger Check all sub ledgers for unposted 2017 transactions Check Journal Entry to make sure all journals have been posted […]
Employer Paid Health Care Value
Employers, including nonprofit organizations, are required, beginning in calendar year 2017, to report the fair market value of provided health care benefits. This information is to be included on IRS Form W-2 in Box 12, using code DD, for every employee receiving health care benefits as part of his or her compensation. ShelbyNext | Financials […]
2018 Withholding Statement from the IRS
January 2, 2018 UPDATE Several states have released 2018 withholding updates effective today. We have updated the Financials Payroll withholding tables including those changes. We anticipate additional state action and will continue to update the withholding tables as needed. In addition, the IRS has advised employers to continue using the 2017 withholding tables through January […]
Bonus Tips for Getting the Most Out of your Accounting Package
As long as your accounting package provides tools to align with FASB 117 and GAAP guidelines, then you might find the following tips helpful in using your current software. Do not readily accept someone’s view that the software cannot perform a needed function. Verify by checking with the supplier’s support and/or training department. Invest in […]
Are Churches somewhat Responsible for Bookkeeper Embezzlement?
When I saw headlines in the Minneapolis-St. Paul Star Tribune News concerning a church treasurer that embezzled $240,000, I started remembering a number of such cases that I became aware of during my days on the road training users of Shelby’s financial modules. While a number of church embezzlement cases make headlines, many cases are never reported to […]