Learn how you can wrap up this year’s payroll and prepare for the next with QuickBooks Desktop Payroll Assisted.
December and January are important months for every business. Whether it’s filing your taxes or sending out your employees’ W-2s, there are several things you need to get done.
Go over these important dates and tasks as you plan your year-end payroll work. And you can use the links to get steps or more info on anything you're wondering about.
December 27, 2019
Run final payroll for 2019
- Make sure employee wages and benefits are correct.
- If you use direct deposit, send off the year's final paychecks and pay employee bonuses by 5:00 PM PST.
- Report all employee paychecks, including handwritten, commission, termination, and bonus checks.
- Add the year's final fringe benefits to paychecks.
- Add any commissions your employees earned.
- Contribute to your employee’s retirement.
Order year-end supplies
- Order W-2 perforated forms and envelopes
- Subscribe to our labor law compliance posters. This way you know when the law changes.
December 31, 2019
- Choose if you want to print your W-2s or you want Intuit to print (fees apply) and update your selection.
Before the first payroll of 2020
Review and update employee information
- Install the latest payroll update and make sure your QuickBooks is on the latest release.
- Update employee information, such as employee SSNs, legal names, and addresses. Ask employees to review and update W-4 and state withholding forms.
- Review and update any changes to your federal deposit and filing schedule.
- Review vacation hours, including used and unused time.
Review and update company information
- Run reports for year-end: employee details, payroll details, taxes, and wage summary.
- Update State Unemployment Insurance rates effective January 1, 2020.
- Review and update your company's legal address or name.
- Send us any tax notices you receive from your state or federal agencies.
January 10, 2020
- If you chose Self Print for your W-2 printing, W-2s will be available in Payroll Tax Center for printing and distribution.
- If you choose Intuit Print for your W-2 forms, fees will start charging to your account.
January 30, 2020
- E-file your 1099s on or before January 30, 2020 at 11:00 AM PT so they can be processed and postmarked to your contractors by January 31, 2020.
January 31, 2020
Prepare and file payroll tax forms and payments
- If you choose the W-2 self-print option, print and provide the W-2s for your employees.
- If you choose Intuit Print, your employees should see their W-2s.
- E-file and send 1099-MISC forms to contractors.
- View and print the forms we filed for you.
- Invite employees to access pay stubs, W-2s and timesheets.