Close out payroll
- Run the final payroll of the year before 31 December
- Decide whether early January payments count for this year
- Calculate year-end bonuses and apply the right withholding
- Reconcile quarterly filings against the year-end totals
Verify employee data
- Check every Social Security number digit by digit
- Match legal names exactly to Social Security cards
- Confirm current home addresses for form delivery
- Update terminated employee records and final pay
Benefits and compliance
- Verify coverage start and end dates for each employee
- Validate dependent information and eligibility
- Audit affordability calculations for full-time employees
- Run the ACA measurement period and hours test
Set up the new year
- Distribute W-2 and 1099 forms by 31 January
- Update tax tables, rates and contribution limits
- Load the new holiday calendar and accrual balances
- Schedule open enrolment and review dates
Run this year end pass in Whale: use Checklist to assign each block, analytics and reporting to see what is still open, and approval flows so payroll changes get signed off before they go out.
