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 Preparing for Year-End and FAQ's
What type of W2 forms does COATS Standard and COATSsql use and where do I get them?
For both Versions, COATS uses the same W2 form and the forms can be purchased through Brother's Impressions 1-877-913-8500. Purchase these forms early to ensure that you have the W2 printed on time. Click here for instant access to the W2 Order Form.
When is the deadline for mailing my W2 forms?
W2's must be postmarked by January 31.
COATS Standard
When should I do Year End Processing?
Year End processing should be completed after the last payroll of 2008 is complete and prior to completing the first payroll of 2009. Once the Year End process has finished, you will be able to log in, select the prior year data, and print state and federal reports or complete magnetic media processing at your convenience.
How do I avoid problems?
- Have a copy of the COATS Standard Year End Processing Instructions printed and handy.
- Make sure your company information (Maintenance/Codes & Tables/Company Information) is correct.
- Make sure no one else is using COATS.
- Pack Data - Make sure you receive no error messages and that no files are left behind, if there are, call COATS Technical Support.
- Make a back-up of your data.
- Complete Year End processing before the first payroll of 2009.
COATSsql
When should I do Year End Processing?
COATSsql allows you to handle Year End Processing when it is convenient for you. There are no procedures which must be performed prior to your first payroll of the new year. W2 Data will remain in your system and can be processed at anytime.
When do I update my tax tables for 2009?
COATS sends tax notifications via email each year. Normally, it is posted on www.coatssql.com the last week of December and available prior to the first payroll of the New Year. The files will be posted on the website on Monday, December 29th, 2008.
Click here for more on COATSsql Year-End. |
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 Document Retention Policies are not Just for Large Companies
By Diane J. Geller, Partner, Gentry Locke Rakes & Moore, LLP
As we reach the beginning of a new year it is a perfect time to review document retention policies or, to the extent that you don't have a formal document retention policy, the time to adopt one. The reason to do so is not just related to cost of retention of records (whether they are electronically stored or mounds of paper cluttering your office and storage units) but, the legal costs that you will incur when information has to be collected, searched and reviewed by attorneys in the event employment claims arise.
In connection with that policy there is a significant need for employers to consider how long they actually need to keep paper and electronically stored information ("ESI") as it relates to applicants and employees, and to develop record retention policies that will ensure that only information actually needed is retained. One other motivating factor in the timely and planned destruction of documents according to a record retention policy is that it avoids the need to collect, search and review records that were unnecessarily retained and in some cases may be hurtful to your legal position.
There are a number of federal statutes that expressly impose recordkeeping requirements on employers, and there are additional requirements imposed on federal contractors (and subcontractors). In addition, many states have statutory provisions that require employers to maintain records on employees working in that state, which may be in addition to the federal requirements. While it is not possible to discuss the recordkeeping requirements of all 50 states in this article, in most states the longest statute of limitation period for common law and statutory claims is six years.
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 Can Quality and Service Strenghten the Economy?
America's greatest asset is its people and their drive for success. While watching negative news reports on the workforce often paints a different picture, employers must remain vigilant in maintaining their focus on workforce needs. The roadblocks to an improved economy appear insurmountable, yet it will be the American worker that ultimately turns our economy around, but not from spending. A renewed focus on the workforce by management must include training with regard to productivity, quality and customer service.
National news commentators report that survival is the goal of today's workforce. Constant reports of cutbacks and layoffs only provide a gloomy outlook and create stress and uncertainty. While it's true that we should be somewhat informed about our national situation, the individual citizen has very little control at this level. Contrasting national involvement with workplace influence, one can see where an employee's contribution is more relevant. Whether running a small business or managing a large department with a bigger firm; keeping our workforce informed on a local level will help promote a level of comfort and security. Upfront and honest reporting of a company's state of business is an asset to the existing workforce, even when the news could be better. Employees must be kept informed as productivity will rely on their perception. Providing detailed reports on your firm's quality control and customer service initiatives as well as new business opportunities allows your workforce to stay focused on the company objectives and worry less about a pink slip. Click here to read more. |
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 Happy Holidays!
In lieu of Holiday cards and client gifts and recognizing the current struggle of many local communites, COATS is donating to the Food Bank of South Eastern Virginia.
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COATSsql Version 3.1.0
Released October 2008
You will need your Customer Only User Name and Password to access the above site.
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