By the middle of each quarter you should be preparing for a quarterly reconciliation.
If all of your controls are in place, you should be able to run a report out of your system that tells you that up until that date, your internal controls match the information that is inside your system. If you don’t have a way to run that report, it would be a good idea to create a report that will give you all of that data beforehand so that you don’t find yourself sitting at the end of each quarter (March 31, June 30, September 30, December 31) and finding out that what you are getting isn’t the right information prior to the filing of Federal, State and Local returns. This video reviews quarterly wage and tax reports, Form 941 reconciliation and deposit schedule requirements.
Agenda
Faculty
Beverly M. Willis, MBA
- Senior Manager, Payroll at Inovalon, Inc.
- Strategic management and compliance professional with extensive experience in finance, possessing competencies in all phases of payroll compliance and taxation, general ledger/accounting, Human Resources, and HRIS
- Highly qualified and focused on continuous process improvements to increase departmental compliance and processing efficiencies
- Proven to be successful in reorganizing, streamlining and strengthening business operations to maximize organizational performance and profitability
- Practice emphasizes over 20 years’ experience in all aspects of payroll management payroll tax and accounting
- B.A. degree in human resource management, cum laude, Notre Dame of Maryland University; Graduate Certificates in proactive leadership and change leadership, Cornell University, School of Industrial and Labor Relations; Graduate Certificate in leadership development, The Johns Hopkins University Carey Business School; M.B.A. degree, with a concentration in organization development, Johns Hopkins University Carey Business School
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