It's almost 2007: Are you ready for year-end?
Stay on track through 2006 and prepare for year-end. The following list of tips and tasks will help you prepare for year-end during the month of December:
- Continue to verify that you have no outstanding wage and tax audit messages. Wage and tax audit messages will result in incorrect W-2 forms.
- Review the options section of the Company Header Reports for any scheduled pay-period specific reports that need to be changed for 2007.
- Remind employees to verify W-2 information by including a message on their pay stub, in a company newsletter or both.
- Request and audit the W-2 Management Report. When requesting this report, reference Company-level Option 813-00.
- It's not too late to schedule any Web seminars you have not yet attended. New year-end topics will be added. Visit MyCeridian > My Support Page > Ceridian University.
- For customers who do not use automatic 401(k) deferral limits for 401(k) and 401(k) catch-up or 403(b), verify deduction option 01 is on and set for YB (year begin) for those deductions. Also, develop a plan for creating new limits.
- Ceridian's tax service customers can get Ceridian Tax Online for quarter-end planners at: www.sourcetaxonline.com.
- If you have 2006 tax changes, coordinate the necessary changes with Ceridian's tax service. Make special arrangements for your locals.
- Perform one final audit for outstanding wage and tax audit messages. Enter corrections with your final payroll.
- Contact your accounting department for any last minute voids. (2005 checks should not be voided on 2006 payrolls.)
- Contact your human resources department for any potential manual checks or terminations.
- Verify that the most current tax version is installed in your system.
- Back up, back up, back up!
- Be sure you have your 2007 processing schedule installed in your software.
- Plan any necessary adjustment runs.
- Provide your mailroom with an estimated count and distribution date for W-2 forms.
- Plan your first payroll of 2007:
- Be sure you are processing in 2007 during begin new.
- Archive and/or erase files.
- Stop EIC for any employee who did not provide a new W-5.
- Stop Flexible Spending for employees who did not re-enroll.
- Back up, back up, back up!
- Update all 2007 limits.


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