Year-end for Payroll and Accounts Payable doesn’t just begin in the third quarter, ramp up in the fourth quarter and wind down at the end of the first quarter of the next year.
It’s often said that the ultimate goal is an uneventful year-end. One key way of achieving that goal is to understand that year-end is, really, a year-long process. Best advice: You can never overcheck for accuracy.
Here’s a payroll checklist you can use to help guide you through each pay period, month, and calendar quarter. Since year-end is a long and arduous process, your human resources team should jot down your year-end procedures as you complete them, and add them to this checklist. That will make your next year-end a snap.
For each new employee:
For each terminating employee:
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