Company Information

The company name, address, business tax type, tax ids, and other information are maintained in Company information. There are several tabs in this window. Tabs are visible to the user depending on the activation of program features and the configured rights for the user.

Select Setup>Company Information.

The links below go to the related topics:

Company     Accounting     Nacha     Company Payroll Defaults     Payroll Forms     Tax Id's     Company Default Paths     Profit Centers     Workers’ Compensation     Finance Charges     1094 - I & II     1094 - III     1094 - IV

Company Tab

The Company tab contains information about the company file that is currently open. Most of the labels on the tab are self-explanatory. Use the screenshot above as a guide.

The VO Client ID appears on the Clients page in the Virtual Office™. If the VO Client ID has not been saved in the Company tab, the VO Setup button will be available. Clicking this button will open a browser to the Create Client Portal window. Select this if the company has not been set up as a client on the portal. The information on the Company tab will populate the appropriate fields on the Client Portal Setup window (shown in the screenshot below). The VO Client ID for this company appears at the top of the page. Enter the VO Client ID as displayed in the browser window. Click Submit on the web page to complete the Portal setup.

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Accounting Tab

The Accounting tab has basic accounting period information.

• Current Period—This shows the accounting period that transactions are currently being posted to. Periods can only be changed by closing the current period.
• Period Type—This shows the accounting period structure for the company. The Period Type is determined when the file is first created and can be changed in some cases by selecting Utilities>Maintenance>Convert Period Type.
• 4/4/5 Period Type—Only select Yes if the company uses a 4/4/5 calendar structure for managing accounting periods.
• Business Type(Tax)—Select the business entity type from the list. This selection will determine the type of tax return generated in File>Exports>Tax Software exports.
• Legal Entity—This option is currently only used on Cover and Analysis Letters. Select the correct Legal Entity. The Legal Entity Value options are:
  
  • C-Corporation
  • Family Limited Partnership
  • Limited Liability Corporation
  • Limited Liability Partnership
  • Limited Partnership
  • Nonprofit
  • Partnership
  • S-Corporation
  • Sole Proprietor
• Period End Date—This shows the end date for the current period. This date is used primarily for reporting purposes and cannot be changed in this window.
• Year End Date—This shows the end date for the current year. This date is used for reporting purposes and cannot be changed in this window.
• Office AR Client—This should only be set to Yes if the company file contains the Accounts Receivable records for the accounting office.
• Sync With AR Client—This should only be set to Yes for files where information on the Company tab should be synced with the Office AR Client file.
• First Year Start Period—Enter the first period of the first year the company had business activity. This will set the number of periods correctly for income statements, titles, and headings for the first year.
• Open Client File with Notes
  
  • Yes—Opens the Data Store window when a company file is opened.
  • No—Opens the company file without opening the Data Store window.

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Nacha Tab

Complete the information on the Setup>Options>Nacha tab. Direct deposit providers will have different requirements for this window. Get the values for these fields from your direct deposit vendor. The screenshot above shows the first character of the row (Record) and the field the Value will begin in. Provide this information to your vendor to get the appropriate values for this window.

Ident Code Designator—Select the appropriate value from the drop-down list.

• EIN—The number one will precede the Company ID in the Nacha file. (Record 5 Position 41 and Record 8 Position 45.)
• DUNS—The number two will precede the Company ID in the Nacha file. (Record 5 Position 41 and Record 8 Position 45.)
• User Assigned #—The value in the Company ID will start at Record 5 Position 41 and Record 8 Position 45 in the Nacha file.

Transmitter Info—This field is required by some private banks.

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Company Payroll Defaults Tab

Use the Company Payroll Defaults tab to record the global defaults for the items listed.

• Select Live Payroll or ATF Payroll. If Live Payroll is selected, a dialog similar to Rates & Limits will open when the file is closed into January of the following year. You will have the opportunity at this point to update the annual limits for all Deduction type items with Box 12 in the W2 Tracking field and a W2 Code for retirement plans including 401K, Roth 401K, Roth IRA, Simple, etc.
• Select the department where most employees are employed to be the Default Department.
• Select the state where most employees will have taxable wages to be the Default Withholding State.
• Select the state where the company is located to be the Default Unemployment State.
• Select the state where the company is located to be the Default Disability State. (Do this even if that state does not currently have state disability insurance. It will be easier than adding the state later if the state institutes disability at some future time.)
• Select the state where the company is located to be the Default FamLv State. (Do this even if that state does not currently have state family leave. It will be easier than adding the state later if the state institutes family leave at some future time.)
• Enter a Default Locale ONLY if ALL employees for this company will always have a local withholding tax. If local withholding tax only applies to some employees, enter the default locale ONLY on the employees with taxable wages.
• Select the appropriate Default Pay Frequency. If an employee is paid on a different frequency, you can override the company default at the employee level.
• Enter the appropriate two-digit PA PSD Code. This value will print in the local entity field on the W-2s for all employees.
• Select the Default W/C Class code from the drop-down list. W/C Class codes must be set up in Setup>Payroll W/C Class Code to be selected here. This field is used for the Pay As You Go W/C file.
• Enter the desired Rate Threshold. If a larger amount is entered as an employee rate a warning dialog box will open.
• Enter the payroll period start date in the Pay Pd Start Date field. This date is used in the first Pay Period field on the Activities Quick Check Payroll Check window. The date in this field can be changed in a dialog box that will appear during check printing, if necessary.
• Enter the payroll period end date in the Pay Pd End Date field. This date is used in the second Pay Period field on the Activities Quick Check Payroll Check window. The date in this field can be changed in a dialog box that will appear during check printing, if necessary.
• Enter the Payroll Check Date field. This date is used in the Check Date field on the Activities Quick Check Payroll Check window. The date in this field can be changed in a dialog box that will appear during check printing, if necessary.

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Payroll Forms Tab

• Use Company Address
  • No—If No is selected, the name, DBA and address on this (the Payroll Forms) tab will print on payroll tax returns.
  • Yes—If Yes is selected, the name, DBA and address on the Company tab will be what print on payroll tax returns.
• Enter the Preparer Name and additional preparer information as necessary. This information will print on payroll tax returns.
• Enter Third Party Designee Name and additional information as necessary. This information will print on the Federal 941 and Federal 940.
• Enter Signed by Name and additional information as necessary. This information will print on federal and state tax forms.
• Enter amounts in the 1099 Misc, 1099 Div, 1099 Int, 1099 S, 1098, 1099 R, 1099 Patr, 1099 W2G, and 1099 NEC Threshold fields. The amounts entered in these fields are the MINIMUM amount for which a 1099 will print.
• Enter the Company 1099 Default Withholding State.
• Enter the 1096 Contact Name and additional information as necessary. This information will print on the Federal 1096.
• Enter the six-digit Preparer EFIN assigned by the IRS.
• Enter the five-digit Preparer Pin (or Reporting Agent PIN) assigned by the IRS. This is NOT the Signature Pin used for 1040 or EFTPS. It is unique to 940/941 filing.
• Enter a five-digit Signature Pin (which you make up) if you are filing as a Reporting Agent or enter the 10-digit Business Taxpayer Pin.
• Enter the Name Control. The name control MUST match IRS records for the 941 E file to be accepted.
• Enter the eight-digit Drake ID if creating 941 or 940 files to be transmitted by Drake.  This is any number you want it to be and must be unique for each client.
• Enter the OEVS (Provided by SSA) if creating the SSN Verification file.

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Tax IDs Tab

Identification numbers entered in this tab will print on the appropriate payroll tax returns.

• Select the appropriate state in the State field.
• Enter the necessary tax identification numbers in the Withholding, Unemployment, and Disability fields.
• Enter the Sales Tax ID number in the Sales Tax field, if desired. The program does NOT produce sales tax returns at this time.
• The Other 1, Other 2 and Other 3 fields are for additional ID numbers for various state unemployment returns.

TX County Code—Enter the county code in the Other 1 field.

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Company Default Paths Tab

Use the Company Default Paths tab shown in the screenshot above to define paths used specifically by the current company file. In the case of the Backup Path, enter a file name ending with the .ext file extension and the file save prompt will always suggest the recorded path and file name for the backup file.
Use the System Default Paths tab in Setup/System Options when logged in as the Accountant user to define paths used frequently by most company files. The path recorded there will always be suggested for the action unless there is a path defined on the Company Default Paths tab of the current company.

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Profit Centers Tab

Enter an Account Filter using a question mark (?) as a wildcard placeholder and the profit center Name.

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Workers’ Compensation Tab

Enter Workers' Compensation policy information for the Pay As You Go W/C file.

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Finance Charges Tab

Define the Finance Charge rules.

• Charge after xx days—Finance charges will be generated for any balance which is older than the number entered.
• Rate—Enter a decimal. In the screenshot above, any balance over 60 days will be multiplied by 0.01.
• Minimum Finance Charge—Enter minimum amount to be charged. In the screenshot above, the finance charge will be a minimum of $5.00.
• Invoice Item—Select the desired invoice item to be used for any finance charges.
• Finance Charge Account—Select the desired general ledger account for finance charges.
• AR Account—Select the desired Accounts Receivable account for finance charges.

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1094 - I & II Tab

Enter applicable information for Form 1094C - Parts I & II in this window. Refer to the IRS for instructions specific to Form 1094C.

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1094 - III Tab

Enter applicable information for Form 1094C - Part III in this window. Refer to the IRS for instructions specific to Form 1094C.
a. Minimum Essential Coverage—Select the All 12 Months box or the appropriate month(s)
boxes.
d. Aggregated Group Indicator—Select the All 12 Months box or the appropriate month(s) boxes.
e. Section 4980H Trans Relief—Select the appropriate value from the drop-down list for either All 12 Months or the appropriate individual months. Refer to the IRS instructions for Form 1094C for definitions of these values.

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1094 - IV Tab

Enter the Company Name and EIN for all Aggregate Members on this window. Refer to the IRS for instructions specific to Form 1094C.