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Start preparing now for year-end 2014
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The end of the 2014 tax year is approaching. Here are some important steps for closing out the current year and preparing for the next:
- Review the copy ADP® sends you regarding your 2015 Payroll Schedule, including pay, period-ending and quarter-closing dates.
- Verify that next year’s management reports are scheduled for the correct weeks.
- Verify that your 2015 General Ledger Interface Schedule form is correct.
- Schedule bonus and adjustment payrolls.
- Verify the accuracy of details in your Quarterly Tax Verification letter from ADP.
- Log on to ADP’s Error Notification System and verify the accuracy of your payroll records.
- Make sure you have the necessary supplies to wrap up 2014 and begin 2015.
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Be sure to do the following prior to the end of the fourth quarter:
- Request a Preview Wage and Tax Register and review employee data. Review the report for credit employees.
- Input Health Care Coverage costs into payroll for display on Form W-2.
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Get the skills and knowledge you need for confident, compliant year-end processing: attend an ADP Pro seminar (live or online)! Click here for details and registration.
For additional help with year-end preparation, visit the ADP Compliance Connection, where you’ll find a wealth of guidelines, forms, and tools for tax and regulatory compliance.
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