End of Year Audits

Before the final payroll is processed for the year, take the time to review and audit pertinent payroll information such as;

• Has all 2019 income been included?
• Complete year-end 401(k) Audits such as Contribution and Match limits as well as Match calculations
• If Group Life Insurance is offered in amounts greater than $50,000 for employees and $2,000 for dependents, has the taxable income been included in the employee’s pay?
• Are there any Social Security number issues where corrections are needed?
• Send an email to employees requesting them to verify their Social Security Number and home address is correct
• Review Sick Leave or Vacation time (PTO) for employees if necessary
• It is always a good practice to run final year-end reports after the last payroll of the year.  

For a year-end checklist, contact us at [email protected]