Six New Shareworks Ad Hoc Reporting Features

Aunalisa Arellano

Illustrations of two people discussing Shareworks adhoc reporting features while looking at a laptop

Ad Hoc Reporting Features

What happens when things don’t go exactly as you expect? You pivot.

How about if the reports you extract from Shareworks don’t deliver exactly the information you expect? Well, adaptations exist here too. That’s what ad hoc reporting is all about.

Get more flexibility with new data sources

As experienced Shareworks users know, ad hoc reporting lets you amend system-defined reports by tailoring the output to meet your company’s specific needs. Custom reports give you the freedom to rename headers, remove columns, add subtotals and change the export format. All you need to do is select the data sources of your choice.

Of course, data sources are the building blocks of ad hoc reports, the more data sources there are, the greater flexibility you get.

Three new data sources we think you’ll love:

1. Administrator accounts

Although there’s a standard hard coded report in the system for administrator accounts, new data sources give you the ability to further customize these reports. Of particular interest is the ability to track login instances for defined periods. For example, with new filters you can see who logged into the system over the last quarter – which can be useful for auditing purposes. Just look for the field called “Last login instant”.

2. ESPP

If you’d like to customize your employee stock purchase plan (ESPP) purchase and disposition reports, there are a lot of options to choose from. For instance, you can tailor the purchase report by adding things like brokerage account information, the offering period, fund names and more. But what’s particularly interesting about these reports is that you can now share them with your HR provider or payroll team at a pre-set frequency, without manual intervention.

If you already use import express, you’re familiar with the functionality that enables your date or demographic data to automatically flow from your HR system into Shareworks. Report scheduling allows you to do the opposite by automatically exporting your ESPP purchase or disposition data to the people who need it, when they need it.

3. Dividends

Right now, the system-defined dividends report allows you to see dividends at an overview level, with line items showing the dates and date ranges of the dividends being applied. New data sources, however, let you pull multiple dividend payments into one ad hoc report so you can track any changes made for the entire year (or any other period you choose). Filtering lets you roll up the report for one person or a group of select participants. You can even display different grants and apply different dividend equivalents, giving you even more flexibility to meet your reporting needs.

Enhance data analysis with new columns

If data sources are the building blocks of ad hoc reports, columns are their structural fabric. By adding or removing columns, you get more control over your data analysis – giving you a range of insights that allow you make more informed decisions.

Here’s the low-down on three new column selections you may find useful:

1. YTD tax amounts

By adding the year to date (YTD) tax amounts column to your ad hoc reports, you can track the YTD tax amounts loaded into Shareworks at a participant level. This allows you to determine withholding percentages for a range of taxable events.

For example, your total wages YTD will help determine what percentage you withhold for Medicare. If the Medicare field for a participant exceeds $200,000, withholding percentages jump from 1.45% to 2.35%. Or if a participant’s wages exceed $1 million YTD, federal withholding taxes increase from 22% to 37%. Similarly, if a participant reaches the annual social security limit, Shareworks stops withholdings for that participant.

But these are just examples. Thanks to the flexibility of the system, you can track YTD tax amounts on a wide variety of taxable events, slicing and dicing the data however you choose.

2. Pre-exercise YTD

Similar to the YTD tax amounts, the pre-exercise YTD column shows a participant’s YTD information prior to entering an exercise. Without this column, it can be hard to determine if a participant crosses certain tax withholding thresholds if several exercises are entered for that participant in one day. With the pre-exercise YTD column, however, you can track a participant’s YTD amounts on a transaction-by-transaction basis.

Depending on the filters you use, you can see what percentage of your population has reached YTD limits or dive down to identify the specific participants who have reached their individual limits. You can even create standalone reports for each type of tax withholding (e.g., Medicare, social security) to double check the accuracy of your data.

As an added benefit, because these columns are linked to the system’s demographic data sources, you can use them for other reports as well – such as employee grants reports or a custom release report.

3. Retirement eligible taxable compensation

New Shareworks functionality allows you to process retirement eligible events similar to regular bulk release events, and actually recreate an event around your retirement eligible taxation. Although it requires a bit of setup, once complete, you can create custom reporting around these events – using the retirement eligible compensation field to track a participant’s adjusted taxable compensation for retirement eligible withholdings.

Using the social taxable compensation field, you can break down the taxable compensation used to calculate FICA taxes in a retirement eligible event. Similarly, the income taxable compensation field shows you the taxable compensation used to calculate federal and state income taxes.

Plus, as with all ad hoc reports, you can further customize it to fit your needs by including fields such as the amount of shares you’re releasing and/or the amount of shares you’re net withholding for taxes.

If you’re interested in setting up this functionality, give us a call!

Evolving to meet your needs

As Shareworks evolves, we’re always adding new enhancements to help you strengthen your ad hoc reporting. If you’d like to learn more about these new data sources and columns – or any other new features – get in touch.

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