I received an email at work from the boss that states that 2007 W-2s need to be amended because the box for gross income included 401k contributions when it should not have. I was not employed here in 2007 so I don't need to worry about it but it got me thinking that I should probably change the way in which I track my and my husband's income in Quicken. As it stands now, I enter the net amount but I think I will set it up so that I enter gross amounts and then show deductions for taxes, 401k etc. That way I will know at year end if there are any discrepancies between the info that I have and our W-2s, and since we've only had 2 paychecks each so far this year it will be easy to go back and correct the ones that have already been entered.
I work at a small firm where the boss does the payroll. I've suggested that he get a payroll service but he ignored my suggestion. Maybe now, he will reconsider.
Oops, the boss made a mistake!
January 30th, 2009 at 05:20 pm
January 30th, 2009 at 05:26 pm 1233336379
Eh, you are probably better off with the boss. LOL. Those payroll services are horrific. They really don't get much right either... Those payroll mills are the bane of my existence. They only charge pennies though compared to a professional who will do it right. May not be cost effective though, for a small business. So may be best off with the boss doing it!
January 30th, 2009 at 05:31 pm 1233336707
January 30th, 2009 at 06:00 pm 1233338451
January 30th, 2009 at 06:24 pm 1233339850
Since then many of my clients have used ADP or PayChex. They don't get much right. & if you catch a mistake (Which we often do) - good luck getting them to fix it. Ugh.
Anyway, we had a client using Wells Fargo, never a complaint. He switched to Paychex because it was "cheaper" by like $5. Seriously. I just wanted to bang my head on the wall. LOL.
If our clients didn't hire us (usually just to do their taxes or financials) they would have no idea all the mistakes that would never be caught.
January 30th, 2009 at 08:25 pm 1233347102
January 31st, 2009 at 01:43 pm 1233409423