Form 1099 Processing

In Form 1099 Processing, on the Advanced Printing Options dialog box, you can set the Print for Calendar Year option to Four Digit Year (the default is Two Digit Year). These advanced printing options are user-specific and your settings are remembered the next time that you access the dialog box.

2024 Social Security Wage Base

The Social Security (Old-Age, Survivors, and Disability Insurance) taxable wage base increases from $160,200 to $168,600 for 2024.

Arkansas 2024 Tax Tables Updates

The updates for Arkansas are effective January 1, 2024:

• The highest rate decreases from 4.7% to 4.4%.

• The standard deduction used in the formula increases from $2,270 to $2,340.

The new Formula Method is calculated as follows:

1. Multiply the Period Gross Pay amount by the number of pay periods per year to arrive at the annual gross pay.

2. Subtract the Standard Deduction of $2,340 to arrive at Net Taxable Income. If Net Taxable Income is below $100,001, look up the income at the $50 range (midrange of $100). For $100,001 and over, use the exact dollar figure.

3. Compute the Annual Gross Tax on the Net Taxable Income using the bracket below and then round that result.

 

4. Multiply the total number of Withholding Exemptions claimed on Form AR4EC by $29.00 to arrive at the total amount of Annual Personal Tax Credits allowed.

5. Subtract the Annual Personal Credits from the Annual Gross Tax computed to arrive at the Annual Net Tax that will be owed. 

6. Divide the Annual Net Tax by the number of Pay Periods in the year to arrive at the proper state withholding amount.  

For more information, see: https://www.dfa.arkansas.gov/images/uploads/incomeTaxOffice/whformula_2023.pdf.

California 2024 Tax Table Updates

The updates for California are effective January 1, 2024:

• The annual low income exemption threshold increases from $17,252 or $34,503 to $17,769 or $35,538, depending on the employee’s filing status, and for married employees, the number of allowances claimed.

 

• The annual standard deduction increases to $5,202 or $10,404 to $5,363 or $10,726, depending on the employee’s filing status, and for married employees, the number of allowances claimed.

• The value of state allowance increases from $154 to $158.40.

• The tax rates used in Method B continue to range from 1.1% to 14.63%. the tax brackets used will be adjusted compared to 2023.

     

 

Kentucky 2024 Tax Table Updates

The update for Kentucky is effective January 1, 2024.

The income tax rate decreases from 4.5% to 4.0%.

The standard deduction increases from $2,980 to $3,160.

Maine 2024 Tax Table Updates

The updates for Maine are effective January 1, 2024:

• The value of a state allowance increases from $4,700 to $5,000.

• The maximum standard deduction increases for the following statuses:

• Single: From $11,000 to $11,750

  • Married: From $24,850 to $26,350

• The standard deduction decreases according to a formula for the following statuses:

  • Single employees who earn more than $97,150 annually, up from $91,500.

  • Married employees who earn more than $194,300 annually, up from $183,050.

• The deduction reaches zero in the following scenarios

  • A single employee earns at least $172,150 annually, up from $166,500

  • A married employee earns at least $344,300 annually, up from $333,050.

• The tax brackets used in the percentage method were also adjusted.

  

For more information, see: https://www.maine.gov/revenue/sites/maine.gov.revenue/files/inline-files/24_wh_tab_instr.pdf

North Dakota 2023 Tax Table Correction

The update for North Dakota is effective immediately:

North Dakota updated its 2023 Income Tax Withholding and Instructions to correct errors contained in an earlier version. The correct supplemental withholding rate is 1.5%. The previous instructions released in May listed the rate as 1.84%. The updated withholding methods also correct a mathematical error in one of the examples.

For more information, see: https://www.tax.nd.gov/sites/www/files/documents/forms/business/it-withholding/income-tax-withholding-rates-and-instructions-booklet-2023.pdf

South Carolina 2024 Tax Table Updates

The updates for South Carolina are effective immediately:

• The value of a state allowance increases from $4,310 to $4,610.

• The maximum standard deduction increases from $6,475 to $6,925.

• The tax brackets used in the percentage method are also adjusted.

 

 

For more information, see: https://dor.sc.gov/forms-site/Forms/WH1603F_2024.pdf

Vantagepoint and QuickBooks Integration 

New Integration Setup and Management Using Deltek Unionpoint

New Vantagepoint customers with the Front Office Package can now use Deltek Unionpoint to set up and manage integration between their Vantagepoint Front Office database and an existing QuickBooks Online database. When the two products are integrated, you manage your project accounting in Vantagepoint Front Office and your bookkeeping and accounting functions in QuickBooks Online.

Unionpoint is an Integration Platform as a Service (iPaas) solution that enables non-technical business users to build, deploy, and manage integrations with Deltek solutions. To set up the integration using Unionpoint, you must work with Deltek Professional Services or Deltek Partner Consulting Services.

For more information about the integration setup and requirements, see these topics in the Vantagepoint online help:

• QuickBooks Integration with Vantagepoint

• Requirements for QuickBooks Integration

For more information on using Vantagepoint with QuickBooks Online, including where to enter certain records and transactions, see the How To topic in the in the QuickBooks Integration with Vantagepoint section of the Vantagepoint online help.

The Vantagepoint QuickBooks Integration utility (Utilities » Integrations » QuickBooks) primarily applies for existing Vantagepoint customers who have already set up the integration between Vantagepoint and QuickBooks Online using the utility.

The Enable QuickBooks Integration toggle is the only setting in the Vantagepoint QuickBooks Integration utility that is used for the Unionpoint integration. The toggle is enabled automatically during integration setup using Unionpoint.

The QuickBooks Integration utility in Vantagepoint will be completely replaced by Unionpoint in a future Vantagepoint release. Until then, existing QuickBooks Integration users can continue to use the utility to manage the integration. The integration remains unchanged and is not affected by Unionpoint. Deltek will contact Vantagepoint customers who currently use the QuickBooks Integration utility about transitioning to the Unionpoint integration.

Defect 2034056: This issue occurred when your company did not have timesheet approvals enabled and, in Settings » Time » Options, the Allow Staff to Resubmit option was set to No. On the Timesheets form, employees with system administration levels were unable to edit submitted timesheets.

Defect 1949558: This issue occurred when you created a new proposal from a Custom Proposal Template with multiple pages, clicked the first element that contained text, and then clicked Edit Record Layout. The right panel applied the Space Between Records option instead of the Add Multiple Pages to record option.

Defect 2040611: This issue occurred if your assigned security role did not have full Application Tabs access rights specified in Settings » Roles, on the Access Rights tab. When you tried to save a new purchase order, or changed the vendor on a saved purchase order, you received the following error message: "String or binary data would be truncated in table 'VPLive.dbo.POMaster', column 'Country'. Truncated value:'un'. The statement has been terminated."

Defect 2034083: When you tried to delete a default value on the Project Stage Settings dialog box, you received this error message: "Incorrect syntax near the keyword 'as'."

Defect 2041906: When you created an expense report and then entered line details in Mobile Time and Expense, some expense lines displayed without tax amounts when you did not tap outside the Amount field after entering a value.

Defect 2035932: Intelligent Character Recognition was not able to properly read the vendor's name in the AP Invoice you uploaded and you received an error message. This issue occurred if the vendor's name in the document contained an apostrophe.

Defect 2041899: When you upgraded the Vantagepoint application to the latest version (6.5), you received failed scheduled approval notifications for timesheets (past due and reminders).