|
TASK
|
TIME
|
|
Order tax forms such as W-2's,
and W-2c's.
|
Early November
|
|
|
|
|
Determine your year-end schedule. Your schedule
should include:
Creating a holiday payroll schedule
Determine last payroll of year
Backing up/Archive the database
Running preliminary balancing reports
Reconciling totals
Correcting errors
Determining when adjustments will be processed (w/ last payroll
or in separate cycle)
Running year-end programs
Running W-2 and magnetic-media programs
|
Early November
|
If you need assistance printing your
W-2c's, consider JAT's PRINTVIEW
software.
PRINTVIEW allows you to import the employee's W-2 data directly into
a W-2c form eliminating the need to re-type the entire form.
Our Web-based version, e-PRINTVIEW, provides a secure Web site that
employees can access to print their original W-2 online. |
Early November
|
| Notify employees to verify their address
and SSN. Consider using a check stub message. |
Mid November
|
|
Begin the balancing process. Run balancing reports
and make adjustments as necessary.
Some delivered reports that may assist you in balancing
include:
PR260 Payment Detail Listing
PR265 Year To Date Payment Report
PR270 Employee Wage Report
PR276 Employee Deduction Report
PR290 Quarterly Report
PR291 Unemployment Continuation Form
PR294 Balancing Report
PR297 W-2 Forms and Summary
Consider JAT's JYR solution for additional
reconciliation reports.
|
Mid November
|
Check the Lawson Support site for
program updates.
It is critical that all changes are applied before year-end since
they may include the latest tax and W-2 updates.
Keep checking this Web site for updates throughout December. Consider
running a trial W-2 process to make certain it runs as expected. |
Early December
|
Think about attending Lawson year-end
training.
Courses are now offered via the Web and are reasonably priced. |
Early December
|
|
Update employee non-cash income balances such as:
Group term life
Third party sick pay
Moving expenses
Use of company car
Awards and prizes
Business expense
|
Early December
|
| Remind employees of the need to re-enroll
in any Section 125 flexible spending plans. |
Early December
|
|
Review and plan for any year-end sensitive actions
when running Time Accrual (TA170). Look for things like:
Year end "use it or lose it plans"
Annual grants of leave such as sick or vacation
Changes in plan requirements
|
Early December
|
|
Begin the audit process. To assure a clean W-2 run,
update employees who are in:
Pension plans
Deferred compensation
Deceased
Review employee data for:
Address changes
Invalid or missing data
Outstanding stale checks
|
Mid December
|
| Make sure that all BSI year 2003 tax
changes have been installed in your test environment. Once they have
been fully tested, move to production. |
Mid December
|
|
Review IRS and SSA changes for 2003. Some changes
include:
Maximum wages subject to Social Security taxes
401(k) contribution limits
MM-REF media format now required
State and local unemployment rates
|
Mid December
|
|
Close out the year (run PR999)
Take full backup prior to/after close
|
End December
|
|
Verify close prior to entering new transactional
data:
Verify HR00 year has been updated
Verify Pay Plan schedules have been set properly to the new year
Verify tax deductions in arrears have been removed (PR39)
|
End December
|
|
Finalize audits and data correction for W-2's:
Re-run audit reports to verify data accuracy
Make final adjustments to prior year balance data
|
Mid January
|
|
Prepare for running W-2's:
Update and test W-2 parameters
Test run and verify W-2's
Test interface to W-2 print software
|
Mid January
|
|
Run Print and Distribute W-2's:
|
End January
|
|
Produce reports and magnetic media for Fed /
State / Local
|
End February
|
