Year End Payroll Checklist

Approaching the end of the year means there’s lots to do in the ways of payroll. Checking employee information, any information regarding the ACA, and W-2 delivery and print options are just a few of the tasks that need to be completed.

With all of that in mind, we at Proliant have put together a checklist to help you with your year-end payroll duties:

• Form W-4 verification.
  Work with employees to validate their information included on Forms W-4 including any tax withholdings, full-name, social security number, and current residence.
• 2018 Forms W-4 claiming exemption.
  Make note of any employees claiming exemption from federal income tax withholding on Form W-4. If they are not filing a 2019 W-4, withholding will be based on the last Form W-4 provided by the employee.  
• Payroll system tax configuration review. 
  Double-check your taxability configuration tables for 2018 and 2019. These include:
  • Paid family leave benefits
  • Wellness benefits
  • Third party sick pay
  • Marriage equality
  • Moving expenses
  • Other fringe benefits (can be different from state to state)
• Accounts payable and general ledger review. 
  Review accounts payable and your general ledger for any unreported items that may be taxed.
• Payroll reconciliation. 
  Make sure all 2018 paychecks have been calculated correctly including anything outside of normal payroll and any voided checks.
• Gross-up and tax advances. 
  Calculate all gross-up taxable amounts for 2018.
• Posting taxable fringes to the payroll system. 
  Review items on your year-end adjustments list; take note of the payment timings and any penalties incurred from said payments to avoid them in the future.
• 2018 Form W-2 distribution. 
  Decide how you will distribute Form W-2 to your employees
• Calculate paid time off.
  Based on your PTO policy, determine employee PTO balances going into 2019.

Make sure you reach out to your dedicated Proliant Account Manager at years end. They can help calculate, double-check, and review your payroll records from 2018 to make sure you submit correct information and are compliant going forward.

Not yet experienced Proliant’s HCM solution? You can learn more on Proliant's Online Payroll Services.