The
Late PAYKWIK News!
As of March, 2006
PAYKWIK
supports Sarbanes-Oxley Compliance
Full compliance is
assured via numerous unique PAYKWIK features.
These include encrypted source code and passwords to deter unauthorized
alterations and payroll processing. On-error
control reports any deviation from established norms. A Usage Log captures every PAYKWIK access and
use by time and duration. Company and
employee change logs capture every alteration or change of data. Laser printing of employee and third party
checks with magnetic toner on blank stock assures security. PAYKWIK
provides a 100-percent audit trail with a W2 detail file and an employee and
third party payment detail file that is archived on the Company folder for each
year.
PAYKWIK
is available for Internet Access for the Corporate User
A fully functional Demo copy may be downloaded from here or a Demo Kit
may be obtained by calling (601) 636-4844.
PAYKWIK provides simple logical screen input, fast processing, and
preview-before-report printing to make the process simple and efficient from
the corporate desktop PC. Process
PAYKWIK payroll from anyplace and any time, 24/7.
A PAYKWIK Demo Kit with 25-part Tutorial is available. The PAYKWIK CD self installs in seconds. The data ready 3,000-employee Demo Company
computes 30,000-transactions in less than one minute.
W2
and Magnetic Media in PAYKWIK
Four-up employee W2’s are an option for one-pass W2 printing.
Federal and State magnetic W2 reporting is an option using the MMREF-1
file format.
Electronic W2 submittal via the Internet using the SSA new Online Wage
Reporting Service, OWRS, saves labor cost and valuable time.
Tips
On EFTPS Reporting in PAYKWIK
Two procedures for EFTPS are provided.
The conventional CREDIT method is the standard option via electronic
EFTPS.
See your Bank about using the DEBIT method and Fed wire transfer, if you
do not want the Federal Government dipping into your Corporate Bank Account via
EFTPS.
PAYKWIK produces the EFTPS diskette upon completion of check printing for
the CREDIT method.
PAYKWIK can produce the DEBIT information as Direct Deposit to the Bank
at this time also.
Tips
on Federal Reporting and Audit in PAYKWIK
A “PAYKWIK Annual Audit Form” is supplied to record 941 and W2 reporting
for the year. It insures that all the
numbers balance precisely. PAYKWIK will
automatically insure they balance if no manual adjustments are made during the
year.
The IRS compares withholding reports and payments with the Quarterly 941
Reports and the W3 totals. This occurs
year’s after-the-fact and discrepancies and penalties can be very large. All PAYKWIK monthly, quarterly and yearly
reports are produced from the same detail file to assure precise balancing to
the penny to eliminate all questions and IRS fines and penalties.