CenterPoint Payroll features tools to handle the Affordable Care Act (ACA) Reporting. This function within CenterPoint Payroll allows employers to track and report required ACA information for tax filing purposes. The ACA Reporting is included within CenterPoint as a standard feature. Please note that Red Wing Windows Payroll Users who need to handle ACA Reporting are highly encouraged to migrate to CenterPoint Payroll, as ACA Reporting will not be available within Red Wing Windows Payroll. To receive more information about upgrading to CenterPoint Payroll, please call 800-732-9464, or email firstname.lastname@example.org.
November 13, 2015 3:11 PM by khilton
If this information looks familiar, it’s because I repeat it every couple years and I think it’s so important. We are fast approaching the end of 2015, and I want to point out some important information that needs to be considered before year-end, or shortly after the beginning of a new year.
Even if your company operates on a fiscal year, there are a few things that may need to be considered to prepare for the new calendar year:
- How is your budgeting process going for next year? Will next year be the same as this year, or should you be planning some much needed changes to make it better?
- Have you installed all of the latest versions of your software? You don’t need to (and shouldn’t) wait until after the first of the year to get up-to-date. Doing it now saves pressure later.
- There are new Affordable Care Act reporting requirements for 2015 that need to be considered for many companies. Have you collected all the information needed to complete the forms? Did you know CenterPoint Payroll helps maintain this information and can fill in the forms and file them electronically?
- How about retirement plans, and other items important to you and your employees? It is harder now than ever to find good employees, and we need to remain competitive in the marketplace to keep them.
- It is a good time to remind employees to update their W-4 information for changes that have occurred during the year like getting married, having children, buying a house, or anything else that might change their withholding needs.
- How is your budgeting process going? Oh, did I already ask that? I read once that “If you always do what you’ve always done, you’ll always be where you already are.” Is it time for some changes?
So, update that important technology today, review procedures and policies, help employees be better managers of their information, and plan for the New Year.
Red Wing Software’s approved forms vendor, Computer Forms Incorporated has created a simple tool for helping you decide. Please visit the link to learn more:
Estimate Your ACA Filing Requirement!
Katrina Nelson is the new voice at Red Wing Software! If you call Red Wing Software, you will likely talk to Katrina, as she will now be answering calls, as well as a host of other functions at her job as administrative assistant at Red Wing Software. (Please note: Roxie is still here and continues to work at Red Wing Software, and you may still hear from her from time to time.) Katrina was kind enough to share a little about herself for this newsletter.
Katrina has traveled and worked all over the U.S., having been married to her husband Josh, who is in the Air Force. Originally a native of Red Wing, Katrina moved back to the area recently and is enjoying being back home again. In addition to having her degree in Cosmetology, Katrina has also had experience in several medical office settings, working in busy offices and keeping things organized.
When asked what she likes most about working at Red Wing Software, she replied, “I have enjoyed learning about Red Wing Software’s background and history. I was especially impressed with the fact that the company still sends out hand-written thank you notes to its customers! I am happy to work for the kind of company that still does that!”
Katrina and Josh have one daughter, Kyla, who is three years old. They enjoy golf outings, going to car shows, and spending time with family. Katrina is an avid fan of drag racing! Not only is she a fan, but she is a drag racer and it is one of her favorite things to do. Please give Katrina a warm welcome to Red Wing Software. We are excited to have her as part of the team!
Instead of telling you what I think this month, I will just ask some questions to provoke some thought. I think you’ll likely know what I think by reading the questions I ask.
- Are you running your business, or is your business running you?
- Do you control the expenses in your business by operating from a budget, or do you operate by the “seat of the pants”?
- Do you have processes in place (and documented) for internal job functions, or do you assume everyone knows what they are supposed to be doing?
- You know that everyone in your organization has certain responsibilities. Have they been clearly communicated, and do the people in your organization know they have these responsibilities?
- Do you know the true cost of items that you produce or buy for resale, including indirect costs?
- Do you know what your most profitable items are and those items that are not so profitable and maybe should be discontinued?
- Do you know your businesses key financial ratios, what they mean, and where the danger levels are?
- Do you analyze the return on new asset purchases before the purchase has been made?
If you think you have good answers to all of these questions, ask them again. I challenge you to continually ask these questions throughout the year, and improve operations through better management. At Red Wing Software, we evaluate our position and try to answer these questions regularly. Once we think we know all the answers, we stop improving.