Payroll Year-end
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Year-end Steps
2015-01-01T00:00:00
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IMPORTANT*** Close current year, using these steps
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The following steps must be completed in the order listed.
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***Latest program release must be installed
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To accommodate any recent changes to the W2 form, mandated from the IRS, you have to have the most current release program installed.
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1. Complete Pay Period Checklist for Last Payroll
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Complete the steps for the final Payroll that is paid in December BEFORE continuing.
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2. Verify Pay Code Rates/Limits
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Check pay code 74-00 Social Security, Employee tab - Maximum wage limit
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3. Verify ID Numbers for Federal & State Pay Codes
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Verify the EIN on Pay Code 76-00 (FWT) and 77-00 (SWT)
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4. Review Pay Codes
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Verify pay codes and percentages on the Used in Calculations tab of each pay code. (Deduction type pay codes will reduce the amount of wages reported in boxes 1,3,5 and 16 on the W2.)
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5. Verify W-2 Box 10, 11, 12, and 14 Settings
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Go to the W2/1099 tab. The IRS requires specific information to be reported in Boxes 10,11,12 and 14. Contact your auditor or the IRS to determine if you have amounts that should be reported in thes boxes.
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6. Run the Employee Checkout
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Correct ALL errors
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7. Print the Annual 941 Report
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1. The report should show 1/1/YYYY to 12/31/YYYY.
2. Using the Payroll History report, balance the YTD totals with annual 941 report
3. This report is used for matching the W3.
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8. Print a Leave Report (optional)
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Verify each employee's leave time balances.
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9. Verify Carryover Limit in Leave Tables (Opt)
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If your leave policy allows certain hours to carryover to the new year, you'll need to review the set up in the Leave Rates.
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10. Run Adjust Carryover Hours (Opt)
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The system will reduce the carryover hours according to your Leave Rate limits.
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***Civic support staff are not tax experts
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Civic support team can direct you to where the information is pulled into the appropriate boxes, but Payroll tax information should be obtained from your auditor or refer to the IRS website.
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11. Review New Employees
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Wage tab - verify Subject to information
Job tab - verify W-2 Form options (Statutory, Retirement Plan, and Third Party Sick)
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12. Run Employee Checkout
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Correct ALL errors
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13. Backup Current Year's Payroll Data (optional)
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Check with your IT if unable to backup. If unable to backup, please move on. Do not let this hamper your progress.
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14. Run W-2 and 1099 Application
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14a. Convert Year-End Tax Information
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Verify the year you wish to convert, click GO and print.
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14b - Check the Conversion Printout & Correct
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Compare the printout with the Payroll History Report from step 7. Verify the amounts for each employee
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14c - Verify Organization's W-2 Information
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14d - Run W-2 and 1099 Checkout
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14e - Print Sample W-2s to Scratch Paper
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Review and verify the items in each box of the W-2 form
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14f - Enter Corrections in the Payroll System
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If corrections to amounts are required, fix in the Payroll system and repeat from step 20 again.
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14g - (Optional) Upload W-2's to miPayOnline
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*** Skip to Step 21- see NOTE
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If the actual W-2s will NOT be printed at this time
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- Print actual W2s
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15. Report W-2 Informatoin to the IRS
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If you report through ACCUWAGE (IRS website), fill in the necessary fields and select the appropriate year - select GO
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16. Exit the W-2 and 1099 Application
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When the W-2 conversion is complete, click the Payroll link in the breadcrumbs list to leave the W-2 and 1099 Reporting application and return to the Payroll main menu. Or click on the Caselle Clarity Applications > Payroll.
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17. Perform Year-End Closing
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This step will close out the old year, and roll leave time over to the new year
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18. Load New Tax Rates
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Download the instructions from Caselle's website - Support
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--- Enter changes for new Federal Tax rates
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Download the instructions from Caselle's website - Support
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--- Enter changes for new State Tax rates
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Only applicable, if your state withholding tax rates have changed
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--- Update Social Security Wage Limit
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See Load New Tax Rates Guide
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--- Update Other Rates as Necessary
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See Load New Tax Rates Guide
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*** Congratulations!
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You're ready for first Payroll of the new year
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