Remittance Agencies and Events
MAIN MENU > Payroll > Remittance Agencies
Remittance Agencies are government entities, and other agencies such as insurance providers that receive funds or information as a part of payroll. Each remittance agency is assigned one or more Events that specify the exact dates that a payment or filing is required. For any enabled events an email reminder notice is sent to a specified contact employee on a date prior to the event due date.
For many Remittance Agencies there is a default list of specific events and due dates for each payment or filing, based on the legal entity's country and province/state. The most common events are enabled by default.
During initial setup, review each Remittance Agency Event from the list to see if it applies. Ensure any events that apply are Enabled and those that don't apply are Disabled. Refer to your federal, state/province and local government agencies to confirm which events apply to your company.
NOTE: It is recommended to disable events rather than delete them, as it is possible the agency may change requirements in the future and it is easier to re-enable events rather than add the event again.
If you must modify the frequency of an event, disable the event, add a new event by using the Copy as New function then edit the new event Frequency and change the Status to 'Enabled'.
To process remittance agency events (payment or filing) see the Tax Wizard.
To add a Remittance Agency:
- Click Payroll, then click Remittance Agencies in the main menu.
- Complete the available fields on both the Remittance Agency tab and the Events tab.
- Click Save in the button bar to save your changes or click Cancel to discard the changes
See the Basic Operation section for details on viewing, adding, editing and deleting.
| Remittance Agency Tab |
| FIELD |
DESCRIPTION |
| Legal Entity |
The legal entity that will be reporting to this agency. |
| Status |
Select the status.| STATUS | DESCRIPTION |
|---|
| Enabled | Filing site links and reminders are available. | | Disabled | Filing is unavailable and no reminders will be sent. |
|
| Type |
Select the type of remittance agency.| TYPE | DESCRIPTION |
|---|
| Federal | An agency operated by the Federal or the country's government. | | Provincial / State | An agency operated by a Province or State government. | | Local (City / District / County) | An Agency operated by a City, District or County government. | | 3rd Party | A private or 3rd party agency which is not a federal, provincial/state or local (city/district/county) government agency. |
|
| Country, Province/State, District |
The location of the remittance agency. The number fields displayed depends on the Type of remittance agency selected. |
| Agency |
The specific agency title that best describes this remittance agency. |
| Start Date (Optional) |
The date you begin reporting to this remittance agency in TimeTrex. |
| End Date (Optional) |
The date you are no longer reporting to this remittance agency in TimeTrex. |
| Contact |
The contact person provided to this remittance agency and who receives event reminders. |
| Remittance Source Account |
The legal entity bank account from which the remittance agency payments will be withdrawn. |
| Events Always On Business Day |
Select how the event dates are derived.| EVENTS ALWAYS ON BUSINESS DAY | DESCRIPTION |
|---|
| No | No adjustments are made. | | Yes - Previous Business Day | The date is set for the business day previous to the due date. | | Yes - Next Business Day | The date is set for the next business day. | | Yes - Closest Business Day | The date is set for the closest business day on either side of the actual due date. |
|
| Recurring Holidays |
Select the recurring holidays that may affect the due dates. |
|
| Remittance Agency Event Tab |
| FIELD |
DESCRIPTION |
| Status |
Select the status for this event.| STATUS | DESCRIPTION |
|---|
| Enabled - Self Service | Enabled events will appear in the Tax Wizard and reminder notices will be emailed. | | Enabled - Full Service | Select if you subscribe to TimeTrex full service payroll. | | Disabled | Disabled events will not appear in the Tax Wizard, nor will reminder notices be emailed. |
|
| Type |
Choose a type of event. |
| Frequency |
Select how often the event occurs.| FREQUENCY | DESCRIPTION |
|---|
| Each Pay Period | Select if event happens for every pay period| EACH PAY PERIOD | DESCRIPTION |
|---|
| Pay Period Schedule | For pay period frequency events select the pay period schedule(s) that apply to this event. |
| | Annually | Once a year. | | Annual (YTD) | January 1st to the specified date (Year-To-Date) | | Semi-Annually | Twice a year.| SEMI-ANNUALLY | DESCRIPTION |
|---|
| Primary Month | The month of the first semi-annual period for this event. | | Primary Day of Month | The day within the primary month that the event is due. | | Secondary Month | The month of the second semi-annual period for this event. | | Secondary Day of Month | The day within the secondary month that the event is due. |
| | Quarterly | Every quarter or four times per year. | QUARTERLY | DESCRIPTION |
|---|
| Day of Month | The day within the month of the quarter that the event is due. | | Month of Quarter | Which of the three months within the quarter that the event is due. |
| | Monthly | Every month or twelve times per year. | | Semi-Monthly | Twice a month.| SEMI-MONTHLY | DESCRIPTION |
|---|
| Primary Day of Month | The first day within any month that the event is due. | | Secondary Day of Month | The second day within any month that the event is due. |
| | Weekly | Every week. | | CA - Accelerated (Threshold 1) | Canadian government - up to two times per month. | | CA - Accelerated (Threshold 2) | Canadian government - up to four times per month. | | US - Quarterly (1-3 Only) | United States - the first three quarters of the year only. | | US - Monthly (15th, 30th on Last MoQ) | United States - the 15th of every month, except the 30th of the last month of each quarter. | | US - Monthly (15th, skip Last MoQ) | United States - the 15th of every month, but skip the last month of the quarter. | | US - Twice (2x) Monthly | United States - two times per month. | | US - Quarter (4x) Monthly | United States - four times per month. | | US - Eighth (8x) Monthly | United States - eight times per month. | | US - Semi-Weekly | United States - twice a week. | | Upon Hire | On the hire date for an employee(s). | | Upon Termination | On the termination date for an employee(s). | | Upon Termination (Pay Period End) | After the end date of the pay period the employee was terminated in. |
|
| Due Date Delay Days |
Enter the number of days delay between the end of the time period and the due date. |
| Effective Date |
The date the event first begins. Leave blank for most cases. |
| Send Reminder To |
The employee who receives the event reminders. |
| Reminder Days |
The number of days prior to the event due date that a reminder will be triggered. |
| Recalculate Dates |
To change the Start, End and Due Dates retroactively, check the box then specify a date to Recalculate Dates From. |
| Start Date, End Date, Due Date and Reminder Date |
A preview of the dates that are calculated based on the above information. |
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