Prepare for end-of-year payroll with these critical tasks and deadlines
UPDATE:This story has been updated with revised dates and additional links. Please read carefully.
The calendar year’s end is fast approaching, and it’s time to start planning for the successful wrap-up of 2020 payroll. There are a few key changes to this year’s calendar, including the suspension of the pull deadline for BW121220 in December, so please review the following tasks and dates carefully.
Complete these tasks for a successful year-end
- Enter all 2020 moving expenses paid with a purchase order.
- 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 Social Security or Tax ID numbers for new and international employees.
- Enter imputed cash transactions.
- Encourage employees to verify their tax withholdings using the IRS Tax Estimator. The IRS anticipates many will be under-withheld if they have multiple income sources.
- Review your campus holiday schedules.
Add these reminders to your calendar
|2020 Year-end payroll deadlines|
|11/23/20||OC111920 Uploads due 5 p.m.|
|11/24/20||Process OC111920 with a check date of 11/27/20.
MON113020 and BW111420 Pull deadline is 10 a.m.
|11/25/20||Employee Services will be minimally staffed. This may result in delays responding to emails, calls, and tickets.|
|12/17/20||This is the deadline to submit imputed cash transactions including 2020 moving expense from PO/PO-Card and Reimbursements.|
|12/21/20||BW121220 uploads due 5 p.m.|
|12/22/20||Process BW121220 with a check date of 12/24/20. BW registers available same day.|
|12/22/20||OC121720 upload deadline 5 p.m. This is the FINAL 2020 OC.|
|No pull deadline for BW121220 – if you need a pull, contact firstname.lastname@example.org immediately.|
|12/23/20||Process OC121720 with a check date of 12/24/20.|
|12/28/20 - 1/1/21||Employee Services will be minimally staffed. This may result in delays responding to emails, calls, and tickets.|
|12/29/20||MON123120 pull deadline is 10 a.m.|
|12/31/20||BW122620 Uploads due 5 p.m.|
|NO OC WEEK OF 1/4/2021
Any 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.
|1/5/21||BW registers available.|
|1/6/21||BW pull deadline is 10 a.m.|
|1/12/21||OC010721 uploads due for first OC in 2021.|
|1/13/21||Process OC010721 with a check date of 01/15/21|
|2/15/21||W-4 exempt status expires
Must enter new exemption to continue
If not updated by this deadline W-4 status will default to single