The 125 Plan Report shows the current balances for 125 Medical and Dependent Care Plans. This report is only used by facilities that track their own 125 plans and reimburse the employees through payroll. At the end of the year, a detailed accounting can be given to each employee on the plan so they are aware of their amounts. The report will list either the 125 plan transactions with a balance for each employee in the plan, or a summary of the transactions with a balance for the plan year.
To access the 125 Plan Reporting window, go to Payroll > Reports > 125 Plan Reporting. [+]
The Plan Year field displays the current year (i.e., the calendar year). To edit, enter the plan year for the report.
In the Report Type field, select the option that determines the type of report to print. Choose from the following options:
Detail – (default) To print a report listing each transaction with an ending balance.
Summary – To print a report to show only totals with an ending balance.
In the Report Order field, use the drop-down list to select how to sort the report. Choose one of the following options:
Employee No - (default) To print in alphanumeric order by employee number.
Employee Alpha - To print in alphabetical order by employee name
Department - To print with a break on location and department.
In the Locations and Employees fields, specify the locations and employees to include in the report. Choose All (default), or choose Selected or Range to specify which ones to include. See Reporting/Printing Functions for detailed information on using the Selected and Range options.
The Page per Employee check box is available for the detail report. Check this box to start a new page for each employee.
Check the Consolidate Locations box to consolidate the information for all locations (i.e., ignore location). Leave this box unchecked to first sort the employees by location.
Click the Preview button (located to the left of the Print button) to view the 125 Plan Tracking Report in the Report Viewer, or click Print to print the list to the designated printer. See Reporting/Printing Functions for detailed information on using the Printer Settings and Print Preview buttons.
Click Cancel to exit.
125 Plan Tracking For Plan Year Detail Report Example:
125 Plan Tracking For Plan Year Summary Report Example:
