Costpoint Online Help

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W-2 Sources

There are several W-2 sources available such as W-2 Forms.

W-2 Forms

Deltek guarantees that W-2s print properly only on specific W-2 forms purchased from Deltek-approved compatible forms companies. Single-wide formats are supported; the single-wide mailer is also supported. In addition, laser forms are supported in both the 2-up and the 4-up format. Please note that you cannot use the 4-up laser forms for submission to the Social Security Administration (SSA).

Only certain forms are compatible with Costpoint. The supported forms may change from year to year. A Costpoint User Bulletin is generally mailed each November to all supported Costpoint users, to provide information on which forms are supported for that calendar year.

Employees Who Lived in More than One State

You can print multiple W-2s for employees who lived in more than one state during the year. The withholding state is recorded in each paycheck record on the Employee Earnings table. Review the Employee Earnings table information to make sure that the correct taxing state is shown for each check for employees that you know moved during the year. Also make sure that the state ID is correct on the State Taxes table for all states for which you withheld income taxes.

A W-2 is printed for each state and/or locality for each employee. If an employee has more than one W-2 because of multiple taxing states, do not check the "void" box on the top copy (Copy A) of any W-2s for that employee. When employees live in more than one state during the year, the federal amounts are printed on the first W-2 and the additional state information is printed on the following W-2(s). For example, if an employee earned $20,000 while living in Maryland and $10,000 while living in Virginia, the employee would have one W-2 with $30,000 showing for federal amounts and $20,000 showing for W/H State of Maryland, and an additional W-2 with $10,000 showing for W/H State of Virginia. States are printed in alphabetical order.

Local Income Tax

If you have local taxes withheld and SDI withheld for an employee, the SDI is printed in the local boxes as well as any localities. The order in which the localities and SDI information appears on the W-2 is determined by the order in which the localities codes are inserted into the Local Tax table. When an employee has more than one locality or SDI deduction, the federal amounts are printed on the first W-2, and the additional localities are printed on subsequent W-2(s). There is no relationship between the withholding state and the locality being reported.

Exempt Wages (Federal/Social Security/Medicare)

Wages charged on the timesheet with an exempt pay type (Configure Pay Type Taxability) are automatically stored in Exempt Pay Types on the Manage Employee Earnings History screen. Enter non-cash fringe benefits that must be reported and were not entered on a timesheet, and thus not charged using an exempt pay type, into the Manage Employee Earnings History screen on a "dummy" check on the Pay Types subtask. To arrive at Exempt Wages, the W-2 program reduces gross wages by the amount of Exempt Pay Types and Exempt Deductions on the Employee Earnings table. The amounts for Cafeteria Plans (that is, deductions exempt from federal and/or state withholding in the Deductions table) are subtracted from gross wages when exempt wages are being computed.

401(k) Deductions, Qualified Deferred Compensation Plans

You indicate to Costpoint which deduction codes are used for 401(k) plans when you select the deduction type on the Manage Deductions screen. This also applies to any other type of Deferred Compensation Plan, such as a 403(b). The actual amount(s) are deducted from Gross Wages in Box 1 and reported in Box 13, even if they exceed the tax-deductible amount. 401(k) is listed as Code D, 403(b) as Code E.

For state wages, Code D deductions are subtracted from gross wages if the state has E-Exempt selected for Income Taxability on the State subtask of the Manage Deductions screen or if the Federal tab is set as Federal Exempt.

Do not designate a cafeteria plan deduction with a deferred compensation code (D-H).

Cafeteria Plans

Payroll deductions for fringe benefit plans that are Federal, Social Security, and Medicare exempt (and possibly state exempt) are identified on the Federal tab or the State and Local subtasks of the Manage Deductions screen. These deductions are subtracted from gross wages to arrive at Box 1 wages. These deductions are also subtracted from gross wages to arrive at Social Security and Medicare, State, and Local wages.