Prepare for 2022 year-end with important tasks and deadlines
Year-end is fast approaching, and it’s time to start planning for the successful wrap-up of 2022 payroll.
Departments should complete the following payroll year-end processes on time during November and December to ensure paychecks will process on time and correctly.
Keep these tasks on hand over the next few months and into the new year to stay on track during this important transition.
Overpayments: Process overpayments on time to allow the employee to repay the overpayment before Dec. 31. Taxes will be added to the overpayment amount if payment is not received in 2022 which could cause a hardship.
Deadlines: There are a few key changes to this year’s calendar, including the first biweekly payroll in 2023 that will have an upload deadline and processing on 01/03/23. Please review all deadlines carefully.
|2022 Payroll Year-End Deadline Overview|
|11/17/22||BW111222 Uploads due 5 p.m.|
|11/22/22||Process BW111222 with a check date of 11/25/22
Review BW111222 Payroll Register
|11/23/22||BW111222 pull deadline is 10 a.m.
|11/24/22 & 11/25/22||Employee Services will be closed|
|12/20/22||Deadline to submit imputed cash transactions including 2022 moving expense from PO/PO-Card and Reimbursement|
|12/26/22 – 1/2/23||System closed. Employee Services will be minimally staffed. This may result in delays responding to emails, calls and tickets.|
|12/27/22||OC122222 upload deadline 5 p.m. This is the FINAL 2022 OC|
|12/28/22||Process OC122222 with a check date of 12/30/22
MN123122 Pull deadline 10:00 a.m.
- Ensure moving expenses are entered into CU Time.
- Review payroll registers immediately after the December payroll is complete.
- Process any necessary pulls to prevent overpayments from crossing tax years.
- Verify Social Security numbers have been entered into employee records.
- Verify SSN for international and/or new employees.
- Enter imputed cash transactions.
- Review your campus Holiday schedules.
|2023 Payroll New-Year Deadline Overview|
|NO OC WEEK OF 1/2/23
All Hand drawn warrants must be approved by ES Payroll. Requests will be reviewed and processed on a case-by-case basis as time and system availability allow.
|1/3/23||BW122422 Uploads due 9 a.m.
Review BW122422 Payroll Register
|1/4/23||BW pull deadline is 10 a.m.|
|1/10/23||OC010523 uploads due for first OC in 2023 at 5 p.m.|
|1/11/23||Process OC010523 with a check date of 01/13/23|
|1/13/23||Process BW010723 This includes the 2023 minimum wage updates|
|2/15/23||W-4 exempt status expires. Must enter new exemption to continue.
If not updated by this deadline W-4 status will default to single.
- Review Payroll Calendars.
- Review the first paychecks for accuracy.
- Hire Spring Appointments before their first check. Terminate Fall Appointments and Contracts, if needed.
- Remind employees claiming exempt status on their W-4 that it will expire Feb. 15, 2023 (To maintain their exemption, they will need to enter a new W-4 in the employee portal before the expiration date).
- W-2s will be mailed by the end of January.
Minimum wage: January 2023 minimum wage rates apply. The 2023 Colorado minimum wage increases to $13.65 ($12.56 in 2022), and Denver minimum wage increases to $17.29 ($15.87 in 2022)
- ES pulls and uploads the minimum wage rate for each hourly employee below the threshold for the applicable state.
- Effective date: 12/25/22 (BW010723)
- Utilize query CUES_HCM_MINIMUM_WAGE_STATE to obtain information for other states.