Monday Dec 16, 2013

Congratulations to the 2013 American Payroll Association Award Winners

The PeopleSoft Payroll for North America team would like to congratulate Hackensack University Medical Center, Capital One, and Gap Inc. for winning the 2013 American Payroll Association Prism Award.  Each year the American Payroll Association honors organizations based on best practice achievements in Technology, Management, Processes, Performance Study, and Overall Best Practices.  We have always known that our customers are best in class and are delighted to see that three out of the five recipients use our software.  The accomplishments they achieved and the savings they obtained are truly outstanding.  It thrills us even more they were able to accomplish these goals by utilizing other PeopleSoft products/features such as Time and Labor and our Self Service applications.  Check out their accomplishments and learn how they did it on Page 19-22 of the American Payroll Association PAYTECH Magazine.

Friday Dec 06, 2013

Learn How You Can Import Your W-2 Data Into TurboTax

Where did the year go?  It is hard to believe year-end has arrived.  That means it is time to get the W-2’s out the door.  Payroll for North America is pleased to announce that Intuit, the creator of TurboTax Software, is now an Oracle partner.  TurboTax has created various options to import W-2 information from PeopleSoft Payroll for North America into TurboTax.  This enables your employees quickly and easily to import their W-2 data directly into their individual tax return.  This not only saves the employee time, but ensures the accuracy of the data by eliminating hand keying errors.  The goal is to increase employee satisfaction by making it easier for them.  If you want more information please contact Paul Jordan at Intuit.  He can be reached by email at Paul_Jordan@intuit.com or by phone (650) 944-5585.

Tuesday Dec 18, 2012

Fiscal Cliff

As December 31, 2012 quickly approaches, so does the deadline to extend the Bush Era Tax Cuts which were extended under the Budget Control Act of 2011.  PeopleSoft realizes that there may be some customer anxiety over the delayed withholding tables. PeopleSoft is unable to move forward with delivering the tax changes until we get the official ruling and withholding tables from the IRS.  Please be assured that our legislative analysts are in the loop and are monitoring this situation daily.  Any changes will be included in a special posting. We have created a Knowledge Document in My Oracle Support, Document ID 1332295.1 to keep you up to date on the pending changes.

Monday May 21, 2012

PeopleSoft Global Payroll integrates with PeopleSoft Cash Management for European Payments

PeopleSoft announces the much awaited union of two of its very popular products :

Financial Gateway

and

Global Payroll

To comply with the new Euro zone payments requirements and allow customers to leverage the value of a singular payments platform, PeopleSoft Global Payroll leverages the Financial Gateway, which is part of the Cash Management product within the PeopleSoft Financials suite.

The Financial Gateway is a robust and flexible payment hub that manages large volumes of payments, in several formats. One of the supported formats is the SEPA Credit Transfer. This solution will make SEPA implementation, compliance and maintenance easier over time, as more Euro zone payments will transition to SEPA rules in the future.

The SEPA (Single European Payment Area) project is an additional step in the construction of a unified European market, following the creation of the Euro Zone in 1999.The goal is to standardize the payment format used in cross border payments. This provides flexibility, security and reduced costs as well as enabling increased trade and investments in the SEPA area. The SEPA format was introduced in 2008 and will become mandatory for any Euro credit transfer from 2012 onwards. Direct Debit payment messages have also been introduced and will become mandatory in the coming years.

In order to reduce current and future SEPA changes impact on payroll processing, Oracle has fully leveraged the existing Financial Gateway capabilities to generate payment files and manage interactions with banks, while minimal changes have been implemented in the PeopleSoft Global Payroll product to prepare those payments.

The first SEPA update delivered by Oracle enables customers to manage:

  • Credit Transfers
  • in Euros
  • complying with general SEPA formatting and rules

The PeopleSoft Global Payroll product has been integrated with the Cash Management module from the PeopleSoft Financials Suite through PeopleTools Integration Broker 8.51.The PeopleSoft Global Payroll Core banking process prepares all the payment data, while the Financial Gateway feature from the Cash Management product will:

  • Format the payment data based on country Setup
  • Produce the SEPA payment file
  • Interact with the banks to provide for bi-directional, real time communication (send the payment file and receive the response from banks)
  • Send acknowledgements back to Global Payroll

It is critical to provide audit support in any payment process. To support that effort, the integration between Global Payroll and the Financial Gateway provides the following:

  • A delivered report can be run from PeopleSoft Global Payroll for data validation before publishing data to Financial Gateway.
  • Payment statuses and errors are sent back from Financial Gateway to PeopleSoft Global Payroll, and can be viewed through a new page in a Global Payroll component.

Thursday Oct 13, 2011

U.S. Savings Bonds - Payroll for North America

Did you know the U.S. Department of Treasury stopped issuing paper bonds through traditional payroll savings plans for Federal employees September 30, 2010 and non-Federal Employees effective December 31, 2010? Cost reduction drove these changes to the U.S. Savings Bond Program as well as the long term goal to issue all securities electronically. U.S. Treasury securities are a great way for your employees to invest and save for the future. With these new changes, it is easier than ever to offer this benefit to your employees using the Payroll for North America product. If you, as an employer, are offering this benefit to your employees, there are a few easy steps the employees would need to take:

  • Employees will need to open a TreasuryDirect account at www.treasurydirect.gov where they will be provided a TreasuryDirect Account number. The Bank (ABA) Routing number will always be 051736158.
  • Employees will create Direct Deposit record in ePay (just as they would for any other banking/financial institution).
  • With these changes:
    • Employers are no longer the “administrators” of the Savings Bond Program.
    • Employers no longer need to hold or accumulate funds towards the purchase price of a security.
    • Employers do not have to request the issuance of securities or keep track of registrations.
    • Employers can offer a Savings Bond Program with minimal effort.

For more information on this process please see My Oracle Support Document ID 1127539.1.

Wednesday Jul 13, 2011

Oracle PeopleSoft Global Payroll - Single Euro Payment Area (SEPA)

The SEPA project is an additional step in the construction of a unified European market following the creation of the unique Euro currency on January 1, 1999 and the introduction of Euro coins and notes on January 1, 2002.

The SEPA is a unified payments area which has been created by the European Payments Council (EPC) upon request of the European Commission. The goal is to make cross-borders Euro payments as easy as domestic payments in terms of flexibility, security, and costs so that trade and investments in the SEPA area increase. The changes for bank to bank transfers began implementation in January 2008 and become mandatory for any Euro credit transfer beginning in 2012. The changes will be rolled out gradually for various payments methods until the end of the transition period.

To comply with the new SEPA requirements and maintain current processes until the end of the transition period, Oracle PeopleSoft leverages the existing Financial Gateway product in the PeopleSoft Enterprise Financials Suite.

To reduce current and future SEPA changes that might impact payroll processing, Oracle PeopleSoft fully leverages Financial Gateway’s existing capabilities to generate payment files and manage interactions with banks.

No existing country-specific payment processes and reports have been discontinued. With the delivered SEPA feature, customers have the choice to move to the new SEPA format and the new delivered XMLP reports to process and monitor their payroll payments, or to continue to use their current process and reports, moving to SEPA at a convenient time. For more information download PeopleSoft’s Position Statement for Global Payroll Single Euro Payment from My Oracle Support, Document  ID 1337662.1. For detailed information download our white paper, Document ID 1337679.1.

Tuesday Jul 05, 2011

LEGISLATIVE ALERT - FUTA TAX RATE CHANGES

The FUTA Surtax of 0.2% will expire on June 30, 2011 based on information provided in the IRS Publication 15 (Circular E) for 2011. Employers will see a lower Federal Unemployment tax rate in the second half of the year after the special surtax expires. The FUTA tax rate will remain at 6.2% through June 30, 2011. Effective July 1, 2011, the FUTA tax rate decreases to 6.0%. Due to the urgency of this change PeopleSoft Payroll for North America has created a special posting to comply with the IRS regulations. Please refer to My Oracle Support Document ID 133225.1 for specific information on this posting as it relates to your release.

Tuesday Jun 28, 2011

Keeping up to date with PeopleSoft Global Payroll Australia legislation

The Temporary Flood and Cyclone Reconstruction levy (flood levy) will now apply to individuals for the 2011-2012 year. Tax Laws Amendment Bill 2011 was tabled in parliament in February 2011 and received royal assent in April 2011. The tax tables, however, were released last week in May 2011. To find out  the details of what is changing in Global Payroll Australia as well as targeted delivery dates, please visit the Knowledge Center on Support.Oracle.com.

  • Click on the Knowledge tab.
  • Simply type in keywords ‘Global Payroll Australia Position’.

If further amendments are made, we will revise the document accordingly.

Let the Oracle/PeopleSoft team help reduce the stress and anxiety of these changing times by staying informed. PeopleSoft is working hard to get you the information you need. The information is just a few clicks away.

Keeping up to date with PeopleSoft Global Payroll Singapore legislative changes

Amendments to the Central Provident Fund contribution rates were announced in June 2011. The contribution rate changes will go into effect September 2011. To find out  the details of what is changing in Global Payroll Singapore as well as targeted delivery dates, please visit the Knowledge Center on Support.Oracle.com.

  • Click on the Knowledge tab.
  • Simply type in keywords ‘Global Payroll Singapore Position’.

If further amendments are made, we will revise the document accordingly. 

Let the Oracle/PeopleSoft team help reduce the stress and anxiety of these changing times by staying informed. PeopleSoft is working hard to get you the information you need. The information is just a few clicks away.

Monday Jun 06, 2011

Pennsylvania Act 32

Do you pay employees in Pennsylvania? If so, the Oracle/PeopleSoft Payroll for North America team would like to bring to your attention new legislation, called Pennsylvania Act 32 of 2008. Pennsylvania Act 32 provides for a restructuring of the local Earned Income Tax (EIT) collection system for Pennsylvania local governments and school districts, and was signed into law on July 2, 2008. Act 32 provides for one EIT tax collector for each county (with the exception of Allegheny County and Philadelphia). This change will reduce the number of local EIT collectors from 560 to 69. The law requires employers to withhold EIT from residents and non-residents to remit all withholdings within 30 days of the end of each quarter, or in some cases monthly. Businesses with multiple locations across the state will now be allowed to remit to the county where they are headquartered. 

This Act imposes new tasks and responsibilities on Pennsylvania employers for the calculation and withholding of Pennsylvania local earned income tax. For more detailed information on this law please go to the Pennsylvania website of the Pennsylvania Department of Community and Economic Development.

Statewide implementation of Act 32 begins with wages paid on or after January 1, 2012. However, three Pennsylvania counties have announced that they will require employers to begin complying with Act 32 requirements in 2011:

  • Chester County
  • Lebanon County
  • Wyoming County

In May 2011, PeopleSoft delivered product updates to assist employers in Chester, Lebanon and Wyoming counties. These changes are being posted in Tax Update 11-C. 

My Oracle Support Document ID 1087164.1 provides complete information on the product update information for the early adopter counties (Chester, Lebanon and Wyoming). We will be versioning this document to provide additional information for the remaining counties as the details become available. If this information is applicable to your organization, please bookmark this page.

Monday May 23, 2011

Oracle PeopleSoft Benefits and Payroll for North America – How does the new Healthcare Legislation impact your PeopleSoft products?

The "Patient Protection and Affordable Care Act" (PPACA) (P.L. 111-148) and the "Health Care and Education Reconciliation Act of 2010" (H.R. 4872) were signed into law March of 2010. The Oracle PeopleSoft team has been monitoring this legislation and the impacts it has on the PeopleSoft Benefits and Payroll for North America products. Through the use of Position Statements, updates and changes are communicated to our customers. Most recently we reported on product updates that were made as a result of changes that extend health care coverage to young adults.

One of the many changes initiated by PPACA requires any group health plan or plan in the individual market that provides dependent coverage for children to continue to make that coverage available until the child turns 26 years of age. This was effective for Plan or Policy Years beginning on or after September 23, 2010. The Act provides that medical coverage be extended to children up to the age of 26 without restrictions for student or marital status. In addition the tax favored status remains until the end of the tax year during which the child attains 26.

In order to allow for the varying age limits between plans it was necessary to develop a new Dependent Age limit structure which would allow our customers to accommodate the new age limit for dependents in the medical plans. 

To compliment this change we will be delivering enhancements to the Oracle PeopleSoft Human Resources Base Benefits and Payroll for North America products to accommodate the difference in tax treatment of the Adult Child Benefit among states which do not conform to the Federal law. The IRS has issued guidance that the coverage for adult children is non-taxable through the calendar year they attain age 26, even though the law only requires plans to provide coverage up to the 26th birthday. State requirements may differ from these Federal requirements. In order to allow for compliance at the state level the following changes have been developed.

 

• Updated Benefit Rate Table Structure
• New relationship type “Adult Child”
• New Taxable Gross Component ID


The new configuration allows you to designate a value of the benefit attributable to the Adult Child in the Benefit Rate table. This value will then be used to calculate the appropriate state tax. Given the current functionality, the only deduction class that will not reduce the employee check, not impact Federal, and impute the income for the state is the Non-taxable Before tax deduction class. This deduction class is currently only available for use in Base Benefits for Savings Plan employer matching contribution. The new functionality will open up the use of this deduction class for use in the calculation of health premiums for the purpose of imputing taxable income for non conforming states.

The detailed information is posted to My Oracle Support Doc ID 1080659.1 - PeopleSoft Benefits and Payroll for North America Position Statement: HR 3590 and HR 4872.

In addition, we are currently following changes made in the Health Information Technology for Economic and Clinical Health (HITECH) Act, a section of the American Recoveries and Reinvestment Act of 2009 (ARRA). Congress passed the Health Information Technology for Economic and Clinical Health Act (HITECH) as part of the American Recoveries and Reinvestment Act of 2009. HITECH makes several significant modifications to the Health Insurance Portability and Accountability Act (HIPAA). These changes include creating new code and transaction sets for the HIPAA 834 EDI. Thorough analysis is currently being conducted and updates will be provided in an upcoming Position Statement.

Position statements can be found by accessing My Oracle Support.

Thursday May 19, 2011

Keeping up to date with Legislative changes in PeopleSoft Payroll for North America

These are changing times in the United States. Legislative changes are happening so fast it can be overwhelming keeping up with all that has changed. Payroll for North America is striving to keep you informed and up to date on the legislative changes coming down the line and let you know how these changes will affect you. Some examples of these changes are:


• American Recovery and Reinvestment Act
• Hire ACT
• International ACH Transfers
• Tax Relief ACT
• Health Care Reform
• Savings Bond Program changes with the announcement of TreasuryDirect
• New York Wage and Theft Prevention Act
• Pennsylvania Act 32


To keep you informed, PeopleSoft Payroll for North America has created Position Statements for the legislation that we consider to have significant changes in the law. The purpose of the Position Statement is to give you a brief explanation of what has changed, how the change will affect your payroll processing and what you need to do. The statements are frequently updated with information or changes that may come in after the original posting. Our goal is to make sure you have the latest information. We have a couple of ways for you to get the information you need:


• Visit the Payroll Knowledge center on Support.Oracle.com.


o Click on the Knowledge tab.
o Select PeopleSoft Enterprise > Human Capital Management > North American Payroll > All of North American Payroll.
o Simply type in a keyword ‘Position’.
o Refine your search by using more than one keyword (such as Position, New York)


• Visit  our Payroll for North America Online Community.


o You will be alerted to recently posted/modified Position Statements.  
o You will find valuable legislative solutions that don’t require an official position.
o You see tax update information to help you process those changes.
o There is also a discussion forum to ask questions and exchange solutions/best business practices with other customers.

Let PeopleSoft help reduce the stress and anxiety of these changing times by staying informed. PeopleSoft is working hard to get you the information you need. The information is just a few clicks away.

About

This blog is dedicated to topics focused on PeopleSoft Applications, including Human Capital Management, Financials, Enterprise Service Automation, Asset Lifecycle Management, Procurement, Supply Chain and Customer Relationship Management.

For information about legislative updates to our PeopleSoft Applications see the PeopleSoft Legislative Updates Blog.

For information about PeopleTools see the PeopleSoft Technology Blog.

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