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External YTD Payroll Totals

Update External YTD Totals

The first year that you are using SchoolInsight Financials, half the calendar year’s payrolls will have been run in another system. To make sure the year-to-date (YTD) column on employee paychecks is correct and to produce accurate W-2s and W-3’s at the end of the year, find the YTD totals from the last paycheck run in your previous financials system, and enter them into the new system. Make sure that there is no overlap between the YTD information you enter from your old system and the Payroll Runs in Schoolinsight Financials. 

Entering Data

Because pay stubs show the YTD data for every payroll item, you must enter amounts for each payroll item individually. These numbers must be entered before the first payroll is created in order to show up on the first paycheck.

To enter External YTD Payroll Totals:

  1. Go to Financials Main > Payroll > External YTD Payroll Totals
  2. Choose the current calendar year in the upper right corner
  3. Click on an employee’s name
  4. Enter the amounts from the YTD column on their last paycheck. Please keep in mind the following:
    • Any wages entered should be GROSS WAGES
    • Each employee’s payroll items should be copied automatically from the Employee - Single View page. If additional payroll items are needed, press the blue plus sign in the top right
    • Be sure to mark the subtotals that contribute to each payroll item. Please see Payroll subtotals for more information 
    • If an employee has multiple wages that affect subtotals differently, then you need to create 2 or more separate wage payroll items. For example, the following employee in Illinois has one salary wage that contributes to IMRF and one salary wage that contributes to TRS, so they have 2 separate payroll item salary wage entries.

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    5. Save 

    6. Repeat for each employee who has been paid in this calendar year.

Verification 

Once you have finished entering all the data, it is highly recommended you verify the totals are correct to ensure the YTD information on pay stubs and the W-2 are correct. The W-2 preview provides subtotals that will allow you to check the items related to taxes, Social Security, and Medicare.

To preview the W-2:

  1. Go to Financials Main > Payroll > Tax Forms
  2. Next to Type, select W-2 from the drop-down menu
  3. Ensure the correct calendar year is selected in the top right corner 
  4. Check the box next to Preview  
  5. Ensure every employees name is checked  
  6. Preview 

On the Preview page you will see a list of all employees and their W-2 information broken down into columns by (external YTD) and (payroll runs). Check the totals for each (external YTD) column at the bottom of the page to see if they match the totals in your old system. If there are discrepancies, then compare each employee’s information with the old system. 

If an employee's Taxable wages, Medicare wages, or Social Security wages are off, go back to the External YTD Payroll Totals page and make sure the subtotals entered for each payroll item are correct.