1. Employee Management
  2. Payroll
  3. SuitePeople U.S. Payroll
  4. Payroll Setup
  5. Setting up Year-To-Date Information From Your Previous Payroll System

Setting up Year-To-Date Information From Your Previous Payroll System

Before you can use SuitePeople U.S. Payroll, you must record year-to-date (YTD) federal and state tax liabilities in NetSuite. If you ran payroll during the calendar year, you must enter YTD information. This ensures all calculations and reports for the remainder of the year are accurate. NetSuite requires you to enter these tax liabilities for the year up to the day before the current quarter. You must also enter tax liabilities for the quarter to date.

When you submit your YTD information, NetSuite verifies the data you entered against its tax calculations. If there are differences, NetSuite generates a journal entry for any unpaid liabilities.

NetSuite prompts you to fund and pay any unpaid liabilities. For more information, see Reporting Year-to-Date Tax Liability Payments.

To set up YTD information:

  1. Go to Setup > Payroll > Year-To-Date Information.

  2. If you have a NetSuite OneWorld account, then select a subsidiary.

    For more information, see Payroll Setup in OneWorld.

  3. If required, click Update Payroll Information.

    On the Update Payroll Information page, complete the following steps:

    1. Check the Agree box.

    2. Click Commit Updates.

    3. When your updates have been committed, return to Setup > Payroll > Year-To-DateInformation to continue the YTD process.

  4. Select the year you will begin using SuitePeople U.S. Payroll.

    If you did not run payroll on another system during the current year, select I do not have YTD amounts to report.

  5. Click Next.

    If you selected I have YTD amounts to report, complete the following steps:

    1. Select the employees for whom you have year-to-quarter date data, and then click Next.

    2. Enter Year-to-Quarter amounts for each employee, and then click Next.

      You can save time by exporting and completing the template that NetSuite provides you.

    3. Review the amounts, enter amounts reported to tax agencies, and review any unpaid amounts, and then click Next.

    4. On the Journal page, edit the journal entry that NetSuite prepared based on the year-to-date data you entered for your employees. Click Save.

    5. If the original or edited Journal is ready to post, on the Year To Date Setup - Liability Payments page, click Commit.

    6. If you do not have quarter-to-date data for employees, clear the box to indicate that you do not have quarter-to-date data to enter. Click Next.

      The next step is to enter Quarter-to-Date amounts. This procedure follows the same sequence as entering Year-to-Quarter amounts. Begin by entering employee data, reviewing the amounts calculated by NetSuite, reviewing or editing the journal entry prepared by NetSuite, and committing the journal entry.

    7. On the Year To Date Setup - Liability Reporting page, click the appropriate form link. Then, enter the correct amounts by day, week, month, or quarter that add up to the total year-to-date amounts calculated by NetSuite. Click Save.

      If your company is required to report Hours-to-Quarter, you will enter this information prior to entering your liability information.

    8. Click Next.

    NetSuite displays the Year To Date Setup - Finish page.

  6. If you use NetSuite OneWorld, you can select a subsidiary from the list in the Subsidiary field.

  7. Select one of the buttons on the Year To Date Setup - Finish page:

    • Enter More Year-To-Date Data - Enables you to enter more YTD data for the company or selected subsidiary.

    • Start Over - Discards any data entered to this point, and then returns to the Year To Date Setup - Start page.

    • Return to Payroll Setup - Returns you to the Payroll Setup page.

Related Topics

General Notices