Intuit Step through Complete Payroll Year End

Intuit Payroll for Complete

Let us help you through the busy year-end. Use this information to help prepare your account for year-end processing, including your employees' W-2s, your federal Form 941, and state year-end forms and reports. Use this handy guide, along with the detailed how-to instructions within Web Entry and PC Entry, to perform year-end closing activities.

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Collapse Step 1: Verify employee data and Preview your W-2'sStep 1: Verify employee data and Preview your W-2's
Collapse Ensure that data that appears on your employees W-2's is correct.Ensure that data that appears on your employees W-2's is correct.
Names, addresses, and social security numbers
Retirement plan eligibility
Collapse Web EntryWeb Entry
To preview employee W-2 information:
Click the Reports tab -> select Special -> choose W-2
If any of the W-2 information for your employee is incorrect, you can fix it in Web Entry.
To change employee information in Web Entry:
Click the Employee tab
Click the name of the employee to access the General Info tab
Edit the name, address or social security number, as appropriate
Click Save to save your changes
If the employee's Social Security Number has been incorrect for more than one quarter contact Intuit Complete Payroll to request an amendment
FAQs
What can I do to help ensure employees W-2s are accurate?
How do I verify my employees’ Social Security numbers?
How do I change the name, address, or phone number of an employee?
Collapse PC EntryPC Entry
To preview employee W-2 information:
Click the Reports tab -> select Employee Reports -> choose Employee W2
Set Employee Number Range To 0-0 for All Employees
Enter Year 2007 - > click Run Report - > click Yes
If any of the W-2 information for your employee (name, address, social security number, etc.) is incorrect, you can fix it in PC Entry.
To change employee information in PC Entry:
From the Company Access Screen, click Access Employee Master.
Double-click the appropriate employee name.
Do one of the following:
- To change a name or address, choose the Main / Tax Setup tab.
- To change a phone number, choose the General Info tab.
Make the necessary changes.
To save, click the F10 disk icon located in the top left corner.
If the employee's Social Security Number has been incorrect for more than one quarter, contact Intuit Complete Payroll to request an amendment
FAQs
What can I do to help ensure employees W-2s are accurate?
How do I verify my employees’ Social Security numbers?
How do I change the name, address, or phone number of an employee?
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Collapse Step 2: Verify Company informationStep 2: Verify Company information
Collapse Confirm that all company and contact information is correctConfirm that all company and contact information is correct
Company FEIN
Company Legal Address
Contact Name
Collapse FAQsFAQs
How do I change my company's federal employer tax identification number (FEIN)?
How do I change the legal address of my company?
How do I change the legal name of my company?
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Collapse Step 3: Verify wage and benefit informationStep 3: Verify wage and benefit information
Collapse Confirm that all compensation and benefit types are correct, and that the withholding for each is correctConfirm that all compensation and benefit types are correct, and that the withholding for each is correct
Deferred compensation
Group term life insurance
Third party sick Pay
Reimbursements
State withholding
Collapse FAQsFAQs
What types of income need to be reported?
What is Sub-S medical or S-Corp Medical and who is eligible for it?
What is Group Term Life Insurance (GTLI) and how is it calculated?
What is third party sick pay and how do I add it to my payroll information for reporting?
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Collapse Step 4: Perform any year-end calculationsStep 4: Perform any year-end calculations
Collapse Figure special payments and end-of-year correctionsFigure special payments and end-of-year corrections
Bonuses
Zero out vacation (if necessary)
Confirm you have entered and processed all manual checks
Ensure any corrections have been made prior to December 31sts
Collapse Web EntryWeb Entry
FAQs
What do I need to know about Year End bonus planning?
How do I set up or change vacation, sick time, and other accruals for an employee?
Collapse PC EntryPC Entry
FAQs
What do I need to know about Year End bonus planning?
How do I set up or change vacation, sick time, and other accruals for an employee?
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Collapse Step 5: Check data from last yearStep 5: Check data from last year
Collapse Terminated EmployeesTerminated Employees
Make sure terminated employees have zero balances for all payroll items. You should have found these discrepancies during your last payroll of the year. Correct or adjust them before you run your first payroll of the New Year.
Please contact Intuit Complete Payroll for any corrections
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Collapse Step 6: Tax Filing and TimelineStep 6: Tax Filing and Timeline
Collapse Review Tax forms, annual tax form delivery, etc. Review Tax forms, annual tax form delivery, etc.
W-2s
1099s
Payroll tax filings and forms
Collapse How do I obtain 1099s for my business?How do I obtain 1099s for my business?
If you want Intuit Payroll Services to provide 1099 forms for contractors and vendors not previously reported with your regular payroll,
please contact Intuit Complete Payroll and provide the following information by January 11, 2008:
Full name
Address
Telephone number
Social Security number or Employer Identification Number (EIN)
Amount of payment (payments less than $600 do not require a 1099
Additional fees may apply, including processing and setup fees, if applicable
Collapse What if I need to make corrections after my payroll year is closed?What if I need to make corrections after my payroll year is closed?
Your 2007 payroll year closes either after processing your first payroll with checks dated in 2008 or on December 31, 2007, whichever comes first. Changes made after that date require us to create new W-2 forms or amend your W-2 forms and tax returns, and a service fee applies. Be aware that such changes might also result in late tax deposits and tax penalties from the IRS.
Please contact Intuit Complete Payroll to request an amendment
Collapse FAQsFAQs
When will my account be debited for year end processing fees?
When will I receive copies of my payroll tax forms?
When will my W-2 forms be delivered?
What should I do if an employee lost their W2?
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Collapse Step 7: Before your first payroll of the new yearStep 7: Before your first payroll of the new year
Collapse Check wages and benefits, as well as payrollCheck wages and benefits, as well as payroll
Review wages and benefit levels for all employees
Ensure that payroll liabilities total match totals on W-2s
Update state unemployment and state disability insurance rates (where applicable)
Reconcile reported payroll taxes paid to total tax deposits made (Form W-3 to Form 941)
Check contributions to Section 125 (cafeteria) plans for child and medical care reimbursement
Check contribution levels for 401(k), 403(b) and SIMPLE plans
Collapse FAQsFAQs
What are the Taxes and Rates for 2008?
What should I do with the Federal Tax Deposit Requirement I received from the IRS?
What should I do with the blank tax forms I receive from the IRS or state tax agencies?
What should I do if a rate or ID number for state unemployment insurance (SUI), state withholding, or a local tax is changing?
What is the next holiday that will affect payroll processing?

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