Client Service Center

Payroll Yearend Reflection….why it is needed!
Published on by CS3 Technology in Blog Posts


Performing yearend payroll processing only annually seldom allows our users (even our most experienced users) to have “unconscious consciousness” when processing and balancing the year. With that being the case, it is so important to take a moment to reflect on how yearend processing went. We suggest you make a list of your Pros and Cons so that you know the areas that need further documented to improve the process for the upcoming year. Also it is important to make the list as close after the process as possible so that it is fresh in your mind! Here is my list of reflections from assisting several clients with processing yearend for 2012: •Starting early on the planning side paid off. The clients that were able to plan and start early were organized and better prepared. •Providing the other departments, within your organization, a copy of your yearend processing calendar avoided late payments that had to be entered into the 2012 payroll year. This saved time on balancing since we did not have to rerun reports and rebalance several times. •Using up to date balancing documents (quarter balancing spreadsheet and 941 to W2 comparison) assisted in documenting and organizing balancing data for later reference. •Pre-Final Close procedures – getting a clean external backup prior to running final quarter close for 4th and also exporting the Pre Close Employee Earnings, Pre Close Employee Deductions and Pre Close Employee Taxes could come in handy down the road. •When running final quarter close make sure to slow down and answer the local tax code questions properly. This will avoid having to manually correct where your local taxes and wages show on the W-2. •Order plenty of W-2s. No one needs the stress of running out due to a mistake. •Hold off on submitting your W-2 electronic file until your W-2s have been passed out for at least two weeks. This will prevent having to submit a correction file if a w-2 needs to be corrected. Of course this is a small list of items that assist in making yearend successful, but if you keep adding to your list year after year……eventually your list will be complete and you will reach the “unconsciousness consciousness” in processing your yearend. Congrats on another successful year!

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