Year End Resources For Businesses
Here is our first tip to make sure your 2016 records and W-2s are accurate.
Void and Manual Checks
Do you have any manual checks that need to be entered into the payroll system?
It must be done along with a 2016 payroll process order to properly collect and pay the taxes.
Are there any 2016 checks that need voiding?
These must be processed by the last regularly scheduled payroll for 2016.
Here is our second tip to make sure your 2016 records and W-2s are accurate.
If you have any employees being paid either short term or long term disability pay (also called 3rd party sick pay) the amounts need to be sent to Payroll Network. We will enter the amounts into the payroll system to properly record the payments and pay any employer matching taxes that are due. These amounts need to be entered with a regularly scheduled payroll and must be done before year end.
However, if your disability policy is one whereby the insurance company pays the company matching taxes and reports the W-2 to the IRS, you should not send the information to Payroll Network.
Have you changed your address for W-2 delivery purposes?
If so, please let us know by sending an email to: firstname.lastname@example.org.
Has anybody moved during the year?
Please correct any address changes for your employees so that their W-2s will have the current address.
Employee Social Security Numbers
Also, check the social security numbers accuracy. In the past, the most common reason for corrections was for incorrect social security numbers. Please make sure that your employees’ numbers are accurate and notify us of any correction that need to be made at email@example.com.
Thursday, December 29, 2016 is the last day to process payrolls with a 12/31/16 direct deposit or check date.