End of the Year Checklist
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At the end of each year, it's crucial to ensure your payroll, tax preparation, reporting, and recordkeeping are accurate and compliant with regulations. This period is also ideal for reviewing and possibly upgrading your payroll systems.
Our end-of-year payroll checklist offers a comprehensive guide to help you prepare for year-end tasks and transition smoothly into the new year.
Topics We'll Cover
Verify Employee Information
An essential first step in the end-of-year payroll process is to confirm that all employee details are fully accurate and up-to-date.
Prepare for New Tax Rates, Limits,and Regulatory Changes
Some federal tax rates are subject to change on an annual basis, including federal income tax, FICA tax (Social Security and Medicare), and federal unemployment tax (FUTA).
Conduct a Year-End Audit
During the audit process, it’s also an ideal
time to review internal payroll controls and processes to determine whether you can improve accuracy and compliance.
Listen to What Our Clients Say
We have used ASAP Payroll since 1991. They are, by far, one of the most cost effective payroll companies out there. Their staff is friendly and efficient. They are quick to handle any issues without any problems. We would recommend ASAP Payroll to any business, regardless of size. Whether you have 2 or 500 employees, they can definitely meet your needs.
Peter
McDonalds Franchise Owner
As a small business in Indianapolis, I looked for a personal touch when seeking assistance with payroll. I found that personal touch, and a partner, in ASAP Payroll – a full-service, cost-effective payroll processor. ASAP blasts by its competitors with its focus on detail, its level of customer service, and its user-friendly platform. Thank you for everything!
Kelly
Owner, SouthSider Voice
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