Cause for Thanksgiving: You control Payroll destiny ? Business ...

As you?re feasting on your Thanksgiving dinner, don?t let year-end responsibilities eat you up. You can ease year-end concerns by ticking off some key tasks now.

???Confirm year-end deadlines and final 2012 federal/state deposit dates. Reminder: The day after Thanksgiving is a regular federal deposit date; schedule the deposit ahead of time, if you need to.

????Schedule special year-end reports to and from other departments.

????Schedule bonus payrolls.

????Update your W-2 software and run samples on plain paper. (Shred the samples before tossing them.)

????Check your Social Security Administration (SSA) website password. Passwords expire every 90 days, so you may need to create a new one.

????Check with exempts regarding their reporting of accrued time off through November, and whether they?re planning to take time off next month.

????Send memos to employees showing 2013 paydays, the new Social Security taxable wage base, 401(k) pretax limit and state unemployment/disability wage bases, if applicable.

????Review posting descriptions on nonrecurring journal entries.

????Post employees? benefits/payroll adjustment data. Include: relocation allowances, educational assistance, group-term life insurance, third-party paid sick pay and manual and void checks.

????Document gross-to-net calculations for manual checks; ensure that manual checks and voids are entered properly; review the general ledger accounts. This helps Accounting reconcile the payroll bank accounts.

????Reconcile your tax register. Also reconcile bank accounts through November and ask your bank to prepare an early cutoff statement for December.

????Head off last year?s problems this year. Consider: Was the mailroom notified of the volume of outgoing mail when W-2s were mailed? Was there enough postage in the postage machine?

????Check the IRS? website to ensure that you have the most recent Forms 941, 940, 944 and 945.

????Submit 2012 laser-printed substitute W-2 (Copy A) and W-3 forms to the SSA for approval. Email them to copy.a.forms@ssa.gov.

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