Page 10 - Payroll Year-End Planning & Checklist

8 Steps – March Planning

01 Preview 06
current-year
W2 and Closing Activities
employee 02
Celebrate data (Oct).
08 Year-end Identify any State unemployment insurance:
State changes
• Verify service provider is informed
completion
to withholding of any state unemployment
Verify new methods (Nov) insurance experience notice
wage bases • Verify that new wage bases and
and rates are rates are included in payroll system
included in 03
Payroll Schedule testing Year-end debriefing meeting:
system of Form W-2, • Discuss successes, failures, and
07 Box 12, special outstanding issues with year-end
codes (Dec) team

Verify State Tax • Document lessons learned for use
in the next year-end season
Unemployment withheld
insurance using new • Highlight processes that went well
notices (Mar) formulas 04 and suggested improvements
File annual on first pay • Celebrate the end of year-end
06 Form 940 by for the
year. (Jan)
Feb 10 (Feb)
05