Friday Dec 20, 2013

North American Payroll - Tax Interface

If you have been thinking about switching to the 'Enhanced + Wage Accumulation' tax interface, this is the perfect time - before running the first payroll of the new year!  Switching at the beginning of the year helps ensure that the wage and tax balances are accumulated consistently for the entire tax year, instead of switching mid-year and then having to make balance adjustments to clean up the balances.  

The Wage Accumulation functionality provides an override capability to how Oracle Payroll accumulates wages. With the 'Enhanced + Wage Accumulation' tax interface, you can choose to: 1) accumulate wages only if tax withheld or 2) always accumulate wages.  This impacts how the State wages are reported on the Employee W-2.

The switch is made by running the 'Select Tax Interface' US Payroll concurrent process and the recommendation is to do this at the beginning of the tax year, before you've run your first payroll of the new year.

Details about the Wage Accumulation functionality can be found in Doc ID 460678.1 Wage Accumulation Readme.

Also new with the 2013 Q3 / YE Phase 1 statutory patch is the ability to turn on the Wage Accumulation functionality at the business group level, by setting the applicable year from which the 'Enhanced + Wage Accumulation' tax interface will be in use (only 2013 or later can be used).  You can learn more about BUSINESS GROUP LEVEL CONTROL FOR ENABLING WAGE ACCUMULATION in the Q3-2013 readme note:
Doc ID 1584799.1 3rd Quarter 2013 Statutory Patch Readme – Release 11i
Doc ID 1584800.1 3rd Quarter 2013 Statutory Patch Readme – Release 12.0.x
Doc ID 1584801.1 3rd Quarter 2013 Statutory Patch Readme – Release 12.1.x

As with any set up change, you should do this first in a non-production environment and thoroughly test.



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