13Apr 2012 by Nancy Smyth

QuickBooks & Your Construction Business – What’s Your Gripe?

"Maad" Rants & Other Stuff, QuickBooks Corner
  What's your biggest gripe, problem, or issue when it comes to using QuickBooks in your construction business? Is it the Myth of Do-It-Yourself Accounting?  Is it the fact that there really isn't a lot of construction specific help or training available?  Is it confusing terminology?  QuickBooks is a powerful software program --- but the key to your success in using it depends on how well it's setup and then how well you utilize the features that are built in. QuickBooks® is a generic bookkeeping and accounting program, designed to be used by every type of business that you can imagine.  If it was industry specific, well it would have the same big price tag!  Sure Intuit makes a “Contractor” version, but even then it’s designed to meet the needs…
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10Apr 2012 by Nancy Smyth

Employee Social Security Numbers on Certified Payroll Reports

Certified Payroll/Prevailing Wage, Questions from our readers, The "Sunburst" Website
  Displaying employee social security numbers and addresses on certified payroll reports, which are ultimately public documents, causes privacy and identity theft concerns for many employers and employees  - not to mention confusion over reporting requirements.  This question was submitted by a blog reader.   The instructions for the Federal WH-347 certified payroll report say - The payrolls submitted shall include the following information: Name of each employee A unique individually identifiable number for each employee, or as it was suggested, the last 4 digits of the employee social security number His/her correct classification Hourly rates of pay, including any cash fringe benefits paid Daily and weekly number of hours worked Deductions made and actual wages paid Can we accept a unique individually identifiable number on payroll and is there…
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02Apr 2012 by Nancy Smyth

More New Hire Reporting Requirements Go Into Effect 4/21/2012

Payroll Tips
  New hire reporting requirements are becoming overwhelming and there are new obligations that become effective on April 21, 2012.  I hadn't heard anything about this until my April copy of The General Ledger (a publication put out by the American Institute of Professional Bookkeepers - AIPB) arrived on Saturday. Your new obligations for new-hire reporting: The Trade Adjustment Assistance Extension Act of 2011 (Public Law 112-40), which amends Section 453A (a) (2) of the Social Security Act, includes a revised definition of "newly hired employees" to include any worker: not previously employed by the employer; or previously employed by the employer but separated from such prior employment for at least 60 consecutive days (For the full text of the act, visit https://gpo.gov/fdsys, search for H.R. 2832 (ENR), click on…
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15Feb 2012 by Nancy Smyth

Can One Certified Payroll Report Meet Requirements in all 50 States?

Certified Payroll/Prevailing Wage, QuickBooks Add-Ons, QuickBooks Corner
  Certified payroll reporting requirements are complex.  There is no single certified payroll form that will meet the requirements in all 50 states.  Don't be fooled! It's a common misconception that a single certified payroll report form will meet the prevailing wage requirements found in each of the 50 states.  To be fair, at one time or another a contractor in any state will work on a federally funded construction project and submit the US Department of Labor WH-347 form (or an acceptable substitute).  However, that would be the only time. 21 states follow the reporting requirements of the US Department of Labor and file a WH -347 form or an acceptable substitute for each government-funded construction project that they work on. 14 states have enacted state prevailing wage laws,…
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30Jan 2012 by Nancy Smyth

Paycheck/Payroll Frequencies by State

Certified Payroll/Prevailing Wage, Payroll Tips
Minimum payroll frequencies are determined by each state and can be quite confusing.  I'm often asked "How often do I have to pay my employees" during a Certified Payroll Training Webinar.  State minimum paycheck frequencies are shown below - this information comes directly from the U.S. Department of Labor's website. It's difficult to thoroughly cover the requirements of all 50 states in a 2 hour webinar, but it has crossed my mind that a series of blog posts on the differences between what State Laws are for how often payroll must be generated and how that can effect the generation of a certified payroll report would be a good thing to do.  While I could have simply started this series and talked about the complexities of generating certified payroll reports…
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15Nov 2011 by Nancy Smyth

QuickBooks Tip – Dealing With Special Invoicing Requirements

Customers & Accounts Receivable, Questions from our readers
Dealing with special customer invoicing requirements can be a royal pain!  Sometimes it feel like each customer you deal with says "if you don't invoice me like THIS you aren't going to get paid".  While QuickBooks is a very flexible software program, sometimes it's very difficult to meet the requirements of specific customers or clients.  Below is a perfect example, submitted by a reader of just how difficult billing requirements can be. I use QuickBooks Contractor version as a self-employed contractor with a hospital.  The problem is I get the job on a P.O. from the hospital, say it's for $80,000. As I do different stages of the job I bill the hospital for that stage and they send me a check.  When I do the next stage the hospital…
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27Jun 2011 by Nancy Smyth

What’s New with New Hire Reporting? Date of Hire

IRS Information, Payroll Tips
Reporting new hires has been a requirement for a long time, however, the "first day of work" law went into effect on June 8, 2011. New Hire Reporting is one of the best tools for locating noncustodial parents who may be evading their child support responsibilities.  Employers play a key role in ensuring children receive the financial support they need.  The Personal Responsibility and Work Opportunity Act (PRWORA) of 1996 requires employers to report all new hires tot heir State Directory of New Hires.  Moreover, the Claims Resolution Act of 2010 was recently passed to reform the Unemployment Insurance program, including changes to Section 453A (b) and (c) of the Social Security Act.  This legislation added a new requirement for employers to report, in addition to other information, the date…
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22Jun 2011 by Nancy Smyth

FREE Webinar on New 3% Contractor Withholding Requirements

Construction News, IRS Information, Webinars & Training
From the June 22, 2011 Issue of the Federal, State & Local Governments Newsletter published by the IRS. The office of Federal, State and Local Governments will hold a free, one-hour webinar on July 14, 2011, to discuss the required 3 percent income tax withholding on certain payments made by government entities, to take effect in 2013.  The webinar is recommended for any Federal, state or local government entities as well as tax professionals. Participants can get answers to these questions: What is Section 3402(t) ? The Legislative history on Section 3402(t) Who must perform Section 3402(t) withholding? What payments are subject to Section 3402(t) withholding? Exceptions to Section 3402(t) withholding? Section 3402(t) deposit and reporting mechanics? You can register for the webinar by clicking here. -------------------------------------------------------------------- Additional information from…
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04May 2011 by Nancy Smyth

Unraveling Certified Payroll Requirements On Federal Construction Projects

Certified Payroll/Prevailing Wage, Webinars & Training
Unraveling Certified Payroll Requirements On Federal Construction Projects webinar presented for L2 Federal Resources, LLC Wednesday, May 18, 2011 • 1:00 - 2:30 PM EDT Presented by:   Nancy Smyth, Sunburst Software Solutions, Inc. _____________________ Making the move from residential/commercial construction projects to government-funded construction projects, which have certified payroll reporting requirements, can be overwhelming for most contractors, their office staff, and the accounting professionals who support them. This often misunderstood requirement can lead to major problems, including non-approval of payment requisitions, denial of payment for change orders and claims, and contract termination. Don't get caught in a payroll certification trap; learn the ins and outs of federal certification payroll requirements and get all your questions answered. Our live, instructor-led, on-line training class focuses on the following: What government agencies make…
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15Feb 2011 by Nancy Smyth

Fair Labor Standards Act-Employee Record Keeping Requirements

IRS Information, Payroll Tips
Employee record keeping requirements must include proper time and payroll records for it's workers.  The Fair Labor Standards Act, as well as most state wage and hour laws, are the ones who determine what is or is not "proper". In January, the USDOL (United States Department of Labor) announced that it had recovered $1 million in unpaid overtime from federal defense contracts in California.  This recovered money was based, in part, on the DOL's findings that the contractors had violated the record keeping requirements, which are part of the Fair Labor Standards Act (FLSA).  Specifically, the DOL found that the contractors in question had failed to maintain proper time and payroll records for it's workers.  Read the entire article by clicking here. The Fair Labor Standards Act sets minimum wage,…
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15Oct 2010 by Nancy Smyth

How to Fulfill Certified Payroll Requirements – ABC Webinar

Certified Payroll/Prevailing Wage, Webinars & Training
How to Fulfill Your Certified Payroll Requirements Webinar - Associated Builders & Contractors, Inc.  Merit Choice Date: Wednesday, November 17 Time: 2 p.m. (ET) / 1 p.m. (CT) / 12 p.m. (MT) / 11 a.m. (PT) Length: 90 minutes Fee: Free for ABC members Speaker: Nancy Smyth, President of Sunburst Software Solutions For more information or to register, visit https://www.abc.org/Hot_Links/Meetings_and_Events/Webinars/2.aspx Join ABC Merit Choice for a complimentary webinar on certified payroll! Learn everything you need to know to fulfill your certified payroll requirements in the most compliant and efficient manner. What government agencies make the laws behind certified payroll reporting requirements? How to comply with labor standards and payroll reporting requirements How to complete a Certified Payroll Report and Statement of Compliance Common methods for creating Certified Payroll Reports, Statements of…
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08Sep 2010 by Nancy Smyth

QuickBooks 2011 – Computer Requirements & Office Compatibility

General QuickBooks News, New Technology, QuickBooks 2011 - What's New?
We all think that when we purchase a new computer and/or version of Microsoft Office - that all of our software; including QuickBooks 2011 will run perfectly........this is NOT always the case. Each version of QuickBooks (Pro, Premier and Enterprise) has different compatibility requirements for use with Microsoft Office.  Not all versions of QuickBooks 2011 (and some of the reports) are compatible with Office 2010.  Read these requirements carefully! QuickBooks Pro & Premier 2011 (excluding Premier Accountant Edition) Computer Requirements: 2.0 GHz processor, 2.4 GHz recommended 1 GB RAM for a single user, 2 GB RAM recommended for multiple users 2.5 GB available disk space (additional space required for data files) 250 MB disk space for Microsoft .NET 3.5 Runtime (provided on the QuickBooks CD) 1024 x 768 screen (monitor)…
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22Jul 2010 by Nancy Smyth

California DIR – New Prevailing Wage Compliance Requirements for Contractors

Certified Payroll/Prevailing Wage, Construction News, QuickBooks Add-Ons, The "Sunburst" Website
Beginning August 1, 2010 contractors working on public works construction projects in California will find that they are subject to the regulations of the Public Works Compliance Monitoring Unit (CMU) – part of the California Department of Industrial Relations - in accordance with State Senate Bill X2-9, that was signed into law in February 2009. The CMU will conduct the required monitoring and enforcement of the states public works prevailing wage laws on specific state bond funded and/or design-build procurement construction projects undertaken by public entities in California and awarded on or after the effect date of the regulations – August 1, 2010. The California Department of Industrial Relations Compliance Monitoring Unit’s mission is to ensure that workers on state bond funded and/or design-build procurement construction projects are being paid…
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23Apr 2010 by Nancy Smyth

Government Construction Contracts – A Different World

Construction News
By Emily Maltby From The Wall Street Journal - Small BusinessLike many business owners who have suffered during the downturn, Randy Lebolo decided the most reliable client for his small construction firm would be Uncle Sam.When the real-estate market was in free fall nearly two years ago, Mr. Lebolo decided to shave staff, negotiate with his landlord for a lower lease, and begin the long process of becoming certified to bid on federal work opportunities. He finally won his first government contract recently to remodel a courtroom in a Fort Lauderdale, Fla., courthouse. But the job pays just $250,000, not nearly the lucrative amount Mr. Lebolo—who says his Boynton Beach, Fla., firm had a history of multimillion-dollar commercial construction jobs before the downturn—thought he'd land. Many small businesses are learning…
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