Do not rely on reconciliation guidelines provided by vendor - do your homework.
Prior to the last payroll that closes for the calendar year you should be making sure third-party sick pay (if necessary) has been entered for the first three quarters of the year; make sure that all manual and voided checks are entered to date; schedule any bonus/incentive/wage payments due that are due in the current year; any adjustments from prior quarters that can be entered should be done at this time; and testing of any updates for year-end compliance should also be done at this time. This video reviews these items and discusses the reconciliation of quarter 4 for final tax payments and W-2 summary.
Beverly M. Willis, MBA
- Senior Manager, Payroll at Inovalon, Inc.
- Strategic management and compliance professional with extensive experience in finance, possessing competencies in all phases of payroll compliance and taxation, general ledger/accounting, Human Resources, and HRIS
- Highly qualified and focused on continuous process improvements to increase departmental compliance and processing efficiencies
- Proven to be successful in reorganizing, streamlining and strengthening business operations to maximize organizational performance and profitability
- Practice emphasizes over 20 years’ experience in all aspects of payroll management payroll tax and accounting
- B.A. degree in human resource management, cum laude, Notre Dame of Maryland University; Graduate Certificates in proactive leadership and change leadership, Cornell University, School of Industrial and Labor Relations; Graduate Certificate in leadership development, The Johns Hopkins University Carey Business School; M.B.A. degree, with a concentration in organization development, Johns Hopkins University Carey Business School
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