Video instructions and help with filling out and completing When Form 1094 B Processing

Instructions and Help about When Form 1094 B Processing

Welcome to our financial edge tax season video series my name is Justin Davidson and today we're going to cover the new ACA form healthcare process these are also known as the 1094 1095 forms these are new for this tax season and they are required for all payroll users we're going to go a little more in depth on this process than we typically do for say our w-2s because the process is new and there's a good amount of data you may still need to collect the very first thing I would do prerequisite wise is review our blog and community if you have not already done so you can find this by going to community blackbaud.com and clicking on our blogs in the financial edge community many of you have likely already seen this but this walks through some of the basic information about the 290 425 process in addition we have our ACA frequently asked questions which will help you understand the different classifications and where you may fall and most importantly at the bottom of this blog you'll see we have an ACA import we have to import files one is for your employee ACA information and the other is for your employees dependents both are required as part of the ACA process so before proceeding with this video and with the steps to actually create your 294 295 I would highly recommend you spend some time looking at this blog information going through the frequently asked questions and becoming a little more familiar with the steps we're gonna proceed as if you've already completed looking through all of these so once you feel comfortable at least with the basic process and with the kind of information we're looking at then you're ready to begin actually processing your 294 and 25 through Blackbaud payroll this will incorporate Atrix just like we do with w-2s and have a pretty similar process Atrix has prepared an entirely new preparer screen to actually go through this that we'll see here in just a moment so the steps are slightly different but you will want to also have a chips installed so if you have not already installed or updated Atrix for w-2s you want to be sure to go ahead and do that we do have an Atrix installation video on our blog so if you have not installed Atrix already please be sure to complete that as well you will be prompted to do that if you follow the steps in this video so if you don't already have a tricks that prompt will come up it is the exact same Atrix file so if you have already updated or installed it either for w-2s or for 1099 s through accounts payable then you already have all you need and there's nothing additional to download so going in to financial edge the most important part of this process to start with is you need to have the ACA information in your system some of it already exists in your financial edge system just by default such as employee names and information like that but some of it does not currently exist in financial edge already to remedy this we have had to add some new fields to the financial edge so the first thing you'll want to check is the version you're currently running if your Blackbaud hosted you're already updated to the latest version and there's no need to follow this step but if you do host yourself be sure to go to help and then either about the financial edge or about the education edge to get the pop-up window to see what version you're currently running what you're looking for is this last number this should be a nine or higher that indicates patch nine and patch nine is where we introduce the new ACA fields many of you may already be running patch 10 patch 10 is our end of your tax update so if you're running patch 10 that is no problem at all that's exactly where you do want to be so just make sure this number is patch 9 or higher or you won't see the fields that we're about to look at so before going into Atrix are actually creating any forms you need to make sure you have the right information in your system and we have two ways to do that the first way is a little more manual but it's actually by going into the employee records themselves so in my sample data if we go into records and employees I can pick any employee record and I'll see this AC information tab this is a new tab as a patch 9 so I click a CA information and then new a CA information I have the ability to enter information in here now of course I'm just entering sample data that gives you a quick example of how you can determination in now if you're having questions like was offer of coverage what do all these codes mean you know what should I enter in here then I would highly recommend going back to our blog or simply clicking what information should I enter here this will take you out to our frequently asked questions page that helps define these terms now most these are IRS terms so if you need a deeper look then you may want to consult either a tax professional or maybe the accountant you have your organization if you need kind of a deeper understanding of some of these terms but we've tried to include at least a basic overview so you can translating translate these into something that's a little bit clearer to understand this information is also important we mentioned that we have the import files in our blog this is your ACA import so that first import I mentioned the ACA import you can use that