Calendar Checklist for OpenRDA
Checklist | ✓ | |
1 | For all tax deductions that have changed for the new calendar year, you must have Payroll programs with the appropriate Compile Date. Confirm Installed and Compiled dates and Release Version from Program Update Status (System Administration, Version Control). | |
2 | Install the new year's Federal Tax Tables and Federal Exemption Amount from Federal deduction description(s) using the Copy Standard Setup located on the Compute tab. You would still do the same for FEDERAL2020 | |
3 | Install the new year's state tax table(s) for your state (if applicable) from your state tax deductions using the Copy Standard Setup located on the Compute tab. See state related tax table update documentation in OpenRDA Answers accessed directly from OpenRDA, Help menu on the bottom Resource Bar (Main Page → Payroll → Documentation → Deductions). | |
4 | FICA and FICA-M rates remain the same 6.2% however the Social Security (FICA and FICA-M) wage base has increased to $176,100 for 2025. Using Copy Standard Setup located on the Compute Tab will update the new limit(s) amount for deduction description FICA and FICA-M. | |
5 | MEDICARE and MEDICARE-M deductions remain the same 1.45% plus an additional .9 percent is applicable for employee contributions once taxable wages exceed $200,000. | |
6 | Change the Unemployment Threshold for your state, as needed, in the Current Payroll Values/Generic Setup Variables (see State Documents for amounts and instructions) once the 4th quarter report has been completed. | |
7 | Change the Withholding percentage and limit for your Unemployment Deduction Description if the rate and/or the threshold for your state changes and you are using this feature (Compute tab). | |
8 | Change the Default Calendar Year in Vendor Payments (Current Voucher Defaults). The Calendar Year should always be the same as the year in the Check/EFT date. | |
9 | Virginia customers whose VRS Common Date is January 1 should make this change in Current Payroll Values/Generic Setup Variables and then establish Life Insurance Salary (for the job master). |