What records will be reviewed?

What records will be reviewed?

The following books and records, if maintained,are to be made available to the UIA auditor:

• Forms UIA 1020, Employer’s Quarterly Tax Reports, and Forms UIA 1017, Wage Detail Reports.
• Michigan Sales and Withholding Tax Reports, monthly,quarterly or annual return.
• Federal Form 940, Annual Federal Unemployment Tax Report.
• Federal Forms 941, Employer’s Quarterly FICA & Withholding Tax Reports.
• Employer’s Federal Income Tax Returns, Federal Schedule C for Sole Proprietors, Federal Form 1065 for Partnerships or Federal Form 1120/1120S for Corporations, LLCs and LLPs.
• Federal Forms W-2, Employee’s Wage and Tax Statements, and Federal Forms W-3, Transmittal of Wage and Tax Statements (W-2 Summary).
• Federal Forms 1099 and Federal Forms 1096, Annual Summary and Transmittal of U.S. Information Returns (1099 Summary).
• Michigan Annual Corporation Return (corporations only).
• Employee’s Individual Earnings Records, along with any monthly, quarterly and year-to-date summaries that are maintained regarding these records.
• Check Register and Cash Disbursement Records, both for general and payroll accounts.
• Receipts and Invoices for disbursements from the general account.
• Check stubs and/or canceled checks.
• General Ledger, General Journal and the list of accounts for these records.
• Petty cash records.
• Financial Statements (Profit and Loss, Income Statement, Balance Sheets, etc.).
• Master Vendor Files.
• Time cards.
• Proof of Workers’ Compensation Insurance. 

Note: In addition, Employee Leasing Companies (sometimes know as Professional Employer Organizations) are required to provide the following:

• Completed Form UIA 1045, Status Questionnaire for Employee Leasing Companies.
• Completed Form UIA 1045-A, Disclosure Statement for Employee Leasing/Client Companies with Common Officers/Ownership/Family Members.
• Lists of client entities by year (must include: full legal name, business address, Federal Employer Identification Number, contact name and phone number, and current or previous UIA account numbers, if known).
• Signed copies of the employee leasing contracts between the employee leasing company and each client entity.
• Lists of the employees leased back to client entities, by client entity (with employee names and social security numbers).