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W-2 Reporting

W-2s and W-3s can be created automatically in SchoolInsight Financials after the completion of the calendar year. This article discusses district actions for preparing W-2s. For information on employee access to completed W-2s, see W-2 Employee Access.

Settings
Boxes 12-14
Generate
Printing Adjustments

Settings

Before generating any tax forms, fill out the IRS settings page. Every field should be filled out for electronic submission of forms; some fields will be printed on physical copies too.

  1. Go to Financials Main > Setup > Tax Form Settings
  2. Edit
  3. Fill out the settings
  4. Save

Boxes 12-14

Boxes 12 and 13 can be configured on the District Payroll Items page. Each DPI can be linked to a Box 12 code and/or any of the Box 13 options. If an employee uses this payroll item, the appropriate data will be filled in on the W-2.

  1. Go to Financials Main > Payroll > District Payroll Items
  2. Edit a payroll item
  3. In the W-2 Information section, choose a Box 12 code and/or one of the Box 13 options
  4. Save

You may optionally use Box 14 to report miscellaneous data for individual employees. Up to three rows, each with a description and amount, can be added per employee.

To add data to Box 14:

  1. Go to Financials Main > Employee - Single View
  2. Search for an employee
  3. Select the Payroll tab
  4. Choose the W-2 view in the upper-right corner
  5. Select the correct Calendar Year
  6. Edit Codes
  7. Enter a description and amount that should appear in Box 14
  8. Add up to two additional rows using the blue plus sign
  9. Save

If you would like to report wages paid out for missed work due to COVID-19 because of Families First Coronavirus Response Act, see Estimating FFCRA Wages.

Generate

The actual W-2s, both physical and electronic, can be generated from a single page. The bookkeeper should generate 

To generate a W-2:

  1. Go to Financials Main > Payroll > Tax Forms
  2. Select the W-2
  3. Choose the Format (see below)
  4. Check the Employees to generate
  5. Generate

Format

Description

Blank Paper

Prints the entire form, including the boxes. 1 or 4 per page. Each employee’s copies will print together.

Pre-Printed Stock

Prints only the values, for use with purchased W-2 stock that already contains the boxes and field names. Use stock from one copy at a time. Read about Printing Adjustments before choosing this option.

Electronic File

Generated a .TXT file that can be uploaded to the SSA website.

If any employees have consented to electronic-only distribution of W-2s, you may check Exclude Electronic Only Employees when printing employee copies. 

The W-3 can be generated from the Tax Forms page too, but you can only choose Blank Paper or Pre-Printed Stock.

Printing Adjustments

When using the Pre-Printed Stock format, it’s important to make sure the values that SchoolInsight Financials prints are aligned correctly with the boxes on the stock paper. To ensure proper alignment, check your print settings:

  • The scale must be set to 100%
  • Double-sided printing must be turned off

It is recommended that you print a sample onto blank paper, then line it up with a piece of pre-printed stock.

Because of variation in printers, you may find that some slight adjustments are needed to ensure all text is aligned into the pre-printed boxes. If necessary, the top and left margins can be adjusted so that the printed data is shifted. On the Payroll > Tax Forms > W-2 page, uncheck Use Default Margins, and adjust the numbers. The default settings are 0.5” margins, so if the data is printing too high, you can try changing the top margin to 0.6” to push it down an extra tenth of an inch. You can experiment with these margin dimensions depending on which direction and how far the printing needs to be moved.