We entered employee stock options using an Other Compensation Manual Check entry and now the entries are appearing on the employee's W-2 as Gross Wages incorrectly. 

Penta For Windows

Payroll > Exception Checks > Manual Checks

Payroll > Setup > Deductions, Reimbursements and Other Compensation

Year End Documentation states Stock Options should be reported on an employee's W-2 in Box 12. Review the below steps to make the correcting entries:

• Navigate to Payroll > Exception Checks > Manual Checks window

• Repeat the original entries made except enter a negative amount

• Exit the Window
  
  
  

To correct future Stock Options entries, review the below steps:

• Navigate to the Payroll > Setup > Deductions, Reimbursements and Other Compensation window > Other Compensation Information

• Query the Other Compensation number

• Update the Compensation# with the W2 Information - Report in Box 12 to Y and use the Reporting Print Code of V

• Click on the Tax_Code tab and update the fields accordingly

• Exit the Window
  
  
  

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