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8 October 2014 • www.CPAPracticeAdvisor.com Connect to ADP ® At ADP, we're all about connections — connecting accounting professionals like you to the right resources and opportunities to support your frm's objectives: • Give your clients access to big-business payroll and HR solutions by referring them to ADP • Generate more revenue and simplify payroll processing with our customized platform for accountants • Discover other segments to invest in or retire sooner by selling your client payroll base to ADP When you partner with ADP, you also connect to integrated HR products, retirement and more — everything your clients need to help protect and grow their business. For more information, visit adp.com/accountant or call 1-855-408-3751. The ADP logo and ADP are registered trademarks of ADP, LLC. Copyright © 2014 ADP, LLC. HR. Payroll. Benefts. A YEAR IN THE LIFE: PAYROLL ACCOUNTANT Across the nation, businesses are preparing for the end of the year and accompa ny i ng t a sk s a nd event s. One of the top tasks for businesses is preparing to send out the neces- sary W-2 and 1099 forms next year. T h is is a lso t he ti me where busi- nesses w il l eva luate their current pay rol l solut ion s a nd prov iders . Practitioners wanting to retain cli- ents, as well as gain new ones, will be work ing to prove their ser vices and solutions are top of the line. But before they can do that, they need to do their own internal assessment of their clients, by updating current client information. "W hen you get close to year-end, there's this pressure on practitioners to make sure they don't lose existing customers by marketing to them. Te frst, and ver y important, step to this is to collect updated client information," said Scott Schreier, S e n i o r D i r e c t o r , A c c o u n t a n t Channel Marketing, Small Business Services, A DP. Tere is more to collecting client information than simply ensuring you have the right company contact. Practitioners want to be thorough in the data they collect. Not only will this provide you with the informa- tion you need to send relevant and accurate information to clients later in the year, but it also lets your cli- ents k now that you are prov iding them with in-depth services. Practitioners want to make sure they are receiving and updating the following information from each of their clients: • ACTIVE EMPLOYEES VS. CONTRAC- TORS – Check your current client fles to ensure you have the accurate number of active employees and contractors hired by your clients. When it's time to send out Forms W-2 and 1099, you need to ensure that each individual gets the correct form. • VERIFIED ADDRESSES, CONTACT INFORMATION AND I-9'S – Remind your clients to have employees and contractors verif y their contact information on file. Your clients should have the most current mailing address, telephone number and email address for each worker. If you are sending out Forms W-2 and 1099 as a service to your client, you want to ensure they are going to the right place, whether they are being sent electronically or through the mail. • EMPLOYEES ELIGIBLE FOR RETIRE- MENT PLANS – Obtain an updated list of each of the employees that are eligible for retirement plans. Does the list line up with the employees that are receiving retirement benefts? Tis is a good time to audit your clients' fles for compliance. • EMPLOYEES ELIGIBLE FOR YEAR- END BONUSES – Sometimes com- panies payout bonuses at the end of the year and sometimes they wait until the following year. Find out when your clients plan to payout bonuses and who is eligible. • PAY RATE CHANGES – Companies usually ofer pay increases for par- ticular circumstances. Find out if the company is planning to make any changes in their wages, as well as what those changes will be, the conditions, if any surrounding them, and when they will go into efect. INSURANCE INFORMATION – What insurance benefits do your clients ofer? Get detailed information for the var ious insurances, such as worker 's compensation, health insurance, short-term and long-term disability, etc. Also, check if the Afordable Care Act applies to your clients. Ten get a list of employees eligible for each overage, as well as registered employees. Updating client information can seem like such a small task in com- parison to the other payroll services practitioners provide to their clients. However, ensu r i ng you have t he most up-to-date information about t he va r ious a reas of you r cl ients' business can ensure that you are in a p o s i t io n t o p r o v id e e f f ic ie nt , quality service to them. Showing the value of this service can prove ben- efcial at time when businesses are evaluating their current options. Timely, Accurate Data is Essential to Managing Payroll By Taija Jenkins, Assistant Editor I t pays to collect the right information at the right time. For payroll practitioners, this payout comes in the form of being able to provide quality service to their clients.