TaxBandits Knowledge Base

How do I set up the prior YTD details for my employee?

Prior YTD details is used for accurately processing payroll. If you are an employee who runs payroll with some other payroll provider, you will have YTD details. These details will help you calculate the taxes accurately.

Step 1: To set up prior YTD details, Go to the dashboard, navigate to the prior YTD setup, and click on ‘Setup.’

 

Step 2: Select the last date in which you have processed payroll and click ‘Continue to Add YTD’

Step 3: Make sure you have added all the active employees here and click ‘Next.’

Step 4: Make sure you have added all the terminated employees. If you want to add a terminated employee, click ‘Add Employee’ and complete the steps, and terminate the employee from the directory and click ‘Next.’


 

Step 5: Click on ‘Add YTD’ and add YTD details for each employee. To add YTD details, you must follow certain conditions:

• If you switch to TaxBandits at the end of the quarter, you must enter cumulative YTD values in the last pay stub. 
• If you switch to TaxBandits in the middle of the quarter, you must enter the last quarter’s YTD details along with the ‘current’ value in each quarter.

Step 6: If you need to add multiple paystubs, click ‘Add another paystub’ and click ‘Complete’ to run payroll for employees.