In This Issue…

• Commit Periods

• Tax Table Update Priorities

• LMS - 2024 Year End Checklist

• Past Issues

• New Live Website

YEAR-END 2024 PREP CONTINUES

Reset Commit Periods Before Year-End

These settings determine where and when data can be posted in Insight, which is essential for accurate year-end reporting.

Understanding "Max Periods in Prior Year"

This setting allows you to post transactions to the previous year. Let's look at these scenarios:

Scenario #1: Posting to December 2024 in January 2025

• Max Prior Periods (first column): If set to 1, you cannot post to the prior year.

• Max Periods in Prior Year (second column): This also needs to be set to 1 to allow posting to December 2024.

Scenario #2: Creating Checks for January 2025 in December 2024

• Future Periods: If set to 1, you can commit payments one month into the future. This setting is useful for handling transactions that span across months.

Automation with Task Agent

These settings can be automated using your Task Agent to streamline the process and ensure consistency throughout the year.

Tax Table Update Priority List

If you are updating Tax Tables this year, here are your priorities:

1. Access the LMS-Year End Checklist

2. Download and install WinSCP 

3. Wait for Argos to send you credentials for the SFTP.

4. In the meantime, review this LMS course - D: Payroll Tax Rate Updates + Government Utility

5. Download the Government Utility release.

6. Update Tax Tables before starting a 2025 payroll.

2025 Government Utility Release

1. The Government Utility will release Tax Table Updates for 2025 on or about 12/23/2024. There will be a limited time for Tax Tables to be updated.

2. Argos requires an SFTP connection to retrieve any Government Utility release.

3. Watch for an email from Argos with your SFTP credentials.

4. The LMS is being updated continuously and includes the recommended SFTP, WinSCP, instructions.

   You have the flexibility to perform the State and Federal Withholding Tax Table updates at your convenience, any time before your first payroll check date in 2025.

5. If you would like Transport Data Systems to handle your tax table updates this year, please provide us with the following information and we will notify you once the update has been completed: The check date of your first payroll in 2025. The expected date when you will process this first payroll.

 Email us at [email protected].

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