Each year our GrowPoint system includes updates for the yearly changes to state and federal tax law.

The GrowPoint yearend payroll update for Version 19.52 has been released. This update includes the Federal Tax Tables as well as, Canada, Alberta, California, Idaho (v.19.37 on), Michigan, North Carolina, Ohio, and Oregon tax tables for 2020. You will still be able to calculate your payroll in January even if you have not installed this update; GrowPoint continues with the 2019 rates until you update.

We created instructions for you to complete the Healthcare cost for the W2 and W2 online. You should have received them in an email, if you need one sent to you, contact your support representative. If you need help with 1095-C instructions, we are happy to assist you. They are due March 2, 2020. The update includes the new form with 2019 printed at the top, it also has the new Form 940, Form 943, and the 2020 W4.

We will notify you again if we have a payroll tax table release for your state. There are some changes you need to make in your system. First, you may need to create a new Fiscal Period in your GL – instructions were emailed, or you can contact your support representative if you need it. Your state will send information on your new Unemployment and workers compensation rates for 2020. These are specific to your business, so you are required to make the changes in the GrowPoint Tax Definition – we sent instructions for this as well, contact your support representative if you need it.

There is a new Federal Form W4 for 2020 in this link and also in the update. New employees will need to fill out the new form, but forms filed in prior years are still in effect and existing employees are not required to fill out a new one. However, if they do, there are additional fields to fill out on the employee’s Federal Tax withholding screen. 

Filing for W2’s to the government is now January 31st. It was moved up three years ago to January 31^st the same deadline to give copies of W2’s to your employees. We emailed information about ordering W2, contact your support representative if you need us to send you one. 1099’s with Box 7 are now due January 31^st as well. For Oregon employers, the Statewide Transit Tax needs to be added to Box 14 on the employee’s W2 and also in your W2 iWire upload.  Instructions were sent in an email , or we can send you one by contacting your support representative.

Your Forms 940 and 943 will need an update to show the 2019 Form, however if you use the downloaded form from the web and transfer the numbers from our form, you can move forward on the forms without an update as the basic field amounts that we print did not change logic.

GL year end procedures outside of payroll, are printing 1099’s, creating the new fiscal year, and later running the Year End Closing process off the GL menu, which can be done in the future any time after you get your adjusting journal entries back from your accountant. Our system is date driven, which means that you can continue from one year to the next and transactions will fall into the period by transaction date, not the posting date.

Important Dates:

January 31, 2020 – Filing date for W2’s to government and employees
January 31, 2020 – 1099’s with Box 7
March 2, 2020 – 1095-C

If you have any questions, need any of the forms, or would like assistance installing the update,  please contact our team at support@advgrower.com.