Any person managing a company’s payroll reporting software has a lot of responsibilities. In most cases, paying employees and contractors is just the start. In general, the person responsible for company payroll will also need to file payroll reports and maintain up-to-date information for every worker. Facilitating tax and wage reporting with a reliable and comprehensive payroll system can help to save both time and money – regardless of a company’s size.
Advanced Micro Solutions Payroll Software is an add-on module to our W-2/1099 Forms Filer. The integrated system lets business owners (or their designated payroll teams) enter payroll and non-employee compensation by check throughout the year. If your small- or medium-sized company requires a program for the first time, or just needs a better program, AMS Payroll is an excellent option.
Common Reports for Payroll Reporting Software
Keeping track of required federal, state, and local payroll taxes can be time-consuming. Overworked payroll professionals run the risk of misplacing forms and missing deadlines, especially when they don’t have a solid payroll program. Make sure that your tax and wage reporting service supports the forms that you need to submit. These typically include the following:
- Form 941 – Mail or e-file your Form 941 before each quarter’s deadline. Make sure that you include information about the wages that you paid your employees and what you withheld for federal income taxes. You will also include employee and employer contributions to FICA tax, reported tips, and any other taxes that you withheld.
- Form 944 – Your business should look for payroll reporting software that supports Form 944, especially if you do not use Form 941. Your company will file Form 944 if it has a lower tax liability. The Internal Revenue Service will let you know whether you need to submit the form. Otherwise, contact the IRS if you believe that you should file Form 944.
- Form 940 – You should file Form 940 for one of two reasons: Your company paid at least $1,500 during the calendar year to an employee, or you have full-time, part-time, or temporary employees working for 20 or more weeks. A tax-exempt organization who does not have to pay FUTA tax does not need to file the form.
Easy Integration with AMS Software
The best payroll for companies provides intuitive and affordable features. AMS Payroll ($134), our accounting and payroll software, gives businesses crucial integration tools for tax and wage reporting. The base W-2/1099 Forms Filer offers a menu-driven format where users can select payers and forms. The add-on payroll module supports federal payroll forms, such as Forms 941, 940, 943, and 944. AMS Payroll also supports e-filing features. You can electronically file Forms 941, 944, and 940.
Our free 1099-etc Demo can give you some insight into your payroll reporting software needs. The demo shows how you can utilize and add six types of modules onto the base W-2/1099 Forms Filer. If you have specific questions about scheduling a demo, contact our customer support team at (405) 340-0697.