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Wage Listing Module
The MasterTax Wage Listing module enables import of detailed employee wage information for state unemployment and local reporting. During quarter-end reconciliation, employee wage detail is brought into MasterTax via file import, and is used as a crucial aid in balancing for quarter-to-date and year-to-date reporting. Wage listings are ultimately delivered on paper, online, or on magnetic media with the associated transmittal forms. All generated files, disks and forms are agency-approved, and are available for filing with the respective taxing authorities. Reconciliation data is brought into MasterTax simply by clicking a button, and wage reports are automatically displayed on-screen for preview of employee level information for the quarter. All the required information for a given tax and its associated reporting is brought into MasterTax and reported as received. This data is then used as a balancing tool so that the correct tax, taxable, and gross wages are stated for a given quarter. If imported information is incorrect or requires further review, MasterTax provides a number of reports for pinpointing employee records. These reports include Employee History, Employee Wages, Negative and Positive Wages, and Wages out of Balance. Through these reports, MasterTax users with the Wage Listing module can access the most general to the most detailed information about their company's employees, along with any associated imported history, giving them control over potential auditing of more levels than merely tax payments. In addition to balancing wages and tracking employee detail history, the Wage Listing module includes multiple worksite reporting. Standard reports are modified to include information about company worksites, and the Worksite History Report is provided to help get an even better grasp on how and why a company pays taxes to multiple agencies. When all the pieces of this extensive add-on module to MasterTax come together, users can ultimately extract and run reports to grant any request about wage and tax payment information. Using programmed rules, MasterTax will create the appropriate filing materials that are required by a given unemployment agency. Whether creating online files, diskettes for magnetic media, or paper listings of employees and their wages withheld, MasterTax looks at thresholds in employee counts and the agency's rules to create everything down to the mailing labels. There is an easier way with employee wage filing through MasterTax.  |