Greatland Offers Businesses an Exclusive Inside Look at New Required ACA Reporting
Early Release of Yearli Performance Product Provides Employers the Opportunity to Preview 1095-C Reporting Process and Import Data.
October 1, 2015 | Greatland Corporation | Grand Rapids, MI
Greatland Corporation, one of the country’s leading providers of W-2 and 1099 products for business, today announced that it has launched an early release of its Yearli Performance software to offer businesses the opportunity to prepare for filing the new Forms 1095-C, which is required this year by the Affordable Care Act (ACA). Greatland said it is releasing the product early in response to the high level of interest, questions and concerns it has heard from small- to mid-sized businesses about the new reporting requirement.
Gathering information necessary to complete Form 1095-C – required for employers with 50 or more full-time employees – presents a unique challenge to employers since the form requires data typically stored in the employer’s payroll system as well as HIPAA-protected benefits information that is most often included in the employer’s human resources software. The prospect of correctly combining this information from two very different regulated databases and importing into the unfamiliar 1095-C form is understandably causing early stress.
Greatland’s early release of Yearli Performance software will enable customers to preview the layout and functionality, and also import data or begin entering data for employees. Given the high volume of data required for 1095–C reporting, importing the data will ease this process for employers rather than manually inputting individual employee records.
Additionally, Greatland has released a 1095-C import template to assist employers in setting up the data. Once populated with employer and employee data, the file can then be imported into Yearli Performance which will validate that it is prepared correctly and that all data is formatted properly. Although forms will not yet be eligible for filing, Greatland is strongly encouraging customers to take advantage of this feature to ensure that the importing process is smooth at year-end.
The data entry and record-keeping feature for 1095-C is also included in the early release of Yearli Performance. This feature will enable customers to enter employer and employee data, including offer and coverage data for each individual employee. The data entry and record-keeping element is ideal for customers who do not have the ability to consolidate their data into a spreadsheet, or those who prefer to set up and maintain employee records individually. The streamlined data entry process and early access to this vital record keeping feature will greatly reduce year-end stress.
This is the first time Greatland has launched an early product release before December, and the company is hoping that it helps lower blood pressure while easing logistical complications for businesses when actual reporting deadlines draw closer.
“Given the high volume of questions we are receiving, we wanted to give our customers an early preview of ACA reporting, as it is an IRS requirement this year,” said Bob Nault, Greatland’s CEO. “We thought it best that our customers have access to efficient data importing capabilities and record-keeping features so they can prepare for the upcoming season. This way, businesses can experience the simple and effective Yearli Performance product prior to actual reporting.”
Greatland has several options to help businesses complete ACA reporting including paper forms, Yearli Desktop and Yearli Performance software. Greatland provides useful tools and a support staff that help businesses understand the required forms and ACA reporting guidelines. All software products file electronically to the IRS and also offer print and mail services to provide copies to employees.
To learn more about Greatland’s ACA reporting services and tools, visit: aca.greatland.com.