The HIRE Act W11 and the recently approved 941 Form are now included in your COATS Software. The update will be released on Friday, May 28th. Be sure if you are a COATS Standard user you are on at least 8.2.8 and if you are a COATSsql user, 2.7.8.
Many changes are coming out in the latest Versions. Join me for a Free Webinar on COATSsql, June 17th at 1pm EST.
Our last webinar with Haley was a success! Please join us on June 15th if you missed the Social Media review or click here for the online version.
Technology is constantly changing, Talent Rooster, allows your employees to have full video resumes. See their introduction below.
Thanks always for your partnership and feedback.
All my best,
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W11 Version Release Update
COATS Standard 8.6.0 and COATSsql 3.3.5 will be released Friday, May 28th with the latest changes to comply with the W11 Form and the 941 Quarterly Form.
What is the W11?
The W11 is the government form the Employee will fill out in order to certify they are eligible for the special payroll tax exemption. Click here to see the W11 Form.
Where do I enter the W11 information for the Employee?
COATS Standard -
Within the TAX screen within the Employee Master Record is a check box to the left of Signed W11 and a date to the right.
When the employee signs they are eligible for the W11, the user will check off the box. Once the employee is officially hired by the staffing company and the user verifies the employee is still eligible they will enter the effective hire date.
COATSsql -
Within the TAX screen within the Employee Master Record is a W11 box. With a check box to signify the employee is eligible and a date to list their Effective/Hire date.
When the employee signs they are eligible for the W11, the user will check off the box. Once the employee is officially hired by the staffing company and the user verifies the employee is still eligible, they will enter the effective hire date.
When can I take the credit?
The Government states it can be taken on the 941. Some determine this to be their weekly EFPTS and some determine this to be done at the Quarter on the 941 Form. COATS has allowed each client to decide. The credit can be taken weekly or at the end of the Quarter.
How do I take the credit?
COATS Standard -
The credit can be taken daily, weekly, monthly or quarterly. The user will run the Hire Act Discount within Quarterly processing. The user will need to apply this credit against their balance in AP.
COATSsql -
The credit can be taken daily, weekly, monthly or quarterly. The user will run the Hire Account Discount within Quarterly reports. A credit will be applied to the AP Vendor. The user will want to include this credit when creating the check.
Additional COATSsql Enhancements (see What's new for complete list):
- Additional Direct Deposit withholding allowed. (COATS Standard users as well.)
- User is unable to add, change SSN starting with 8 or 9.
- Global Status within Job Order highlights aqua if W11 qualification present.
- Global Status highlights light green when FUTA or SUTA cap met.
- Resume Parsing clients can now drag/drop parse resume skills within existing applicant record.
- Clients can be searched by description with "?".
- Client emails can be searched with "?".
- PDF Invoicing modified to allow for different terms and separate address.
- General Ledger Budget now available.
Want a visual review of the above?
Join me for a Free Webinar on COATSsql, Version 3.3.5.
Click here for dates and times.
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 Social Recruiting: Using COATS and social media to find great talent for less.
Join us for a free Encore Performance on June 15th
Space is limited. Click here to reserve your Webinar seat now.
You're on LinkedIn. And Facebook. Maybe you even Tweet. But are you really leveraging the power of social media?
In this idea packed webinar, you'll learn some of the most effective ways staffing companies are using social media for recruiting. And you will see how COATS can play a critical role in helping you fill job orders faster, with better talent, and for FAR less cost!
You Will Learn:
· Ways to use LinkedIn, Facebook and Twitter to source passive candidates.
· How to take advantage of job aggregators to fill orders faster.
· How COATS can automate the distribution of your job posts--so you can spend less on job postings and classified ads.
Title: Social Recruiting - Using COATS and social media
Date: Tuesday, June 15, 2010
Time: 1:00 PM - 2:00 PM EDT
After registering you will receive a confirmation email containing information about joining the Webinar. |
David DeCapua, owner of Dawson Resources in Columbus, Ohio decided that "it's time to start living again in staffing and quit worrying about all the turbulence of the past eighteen months - it is what it is". David decided that although the timing was not ideal, his firm needed to focus on the future and invest in technology.
During the recession, David took a hard look at the staffing business and determined that there had to be a better way to make money and capture market share. "Technology, primarily social networking sites have adversely impacted staffing agencies as now employers have powerful tools to help them source candidates". "If staffing firms fail to acknowledge this, they run the risk of becoming obsolete", said DeCapua. "In the next 3-5 years the traditional "paper resume" will be obsolete as well - it will all be digitalized - this creates an ideal scenario for staffing firms to capture this emerging market". "With this powerful technology we will be able to better serve our clients and hold our recruiters accountable".
DeCapua started a new company, TalentRooster.com to partner with staffing firms and help them maximize their revenue opportunities. "Over 95% of the people staffing firms interview they fail to help and staffing firms penetrate less than 1% of the companies in their markets." Recognizing these statistics led DeCapua to build TalentRooster and partner with other progressive staffing firms that want to be in front of this fast approaching trend.
The site officially launched on May 20th and already five staffing firms are on board, including The Daniel Group based in Houston. "We really believe this technology is the future of our business and brings our firm incredible branding and marketing", said Jarrod Daniel CEO of The Daniel Group. "We figured this technology would be here within the next couple of months and we wanted to be the market leader".
For more information contact David DeCapua: David @TalentRooster.com or 614-255-1320 or click here. |
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Miss a Newsletter?
COATS has been sending an emailed Newsletter since August of 2008. If you missed one of our monthly newsletters, click below to see what you've missed!
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COATSsql Version 3.3.5
to be released May 28th, 2010.
COATS Standard Version 8.6.0 to be released May 28th, 2010.
The latest update is required for all clients interested in The HIRE Act and the new 941 Form.
You will need your Customer Only User Name and Password to access the above sites.
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