CSBM 1218 Payroll Year End Close for Small Business

Description

Payroll Year End Close for Small Business covers the process required to close the payroll system at the end of a calendar year. The student will be able to reconcile payroll records, print the required tax reports and prepare the system for the next year using the selected software package.

Management Credits

1

Prerequisite

Student is a business owner, employee or entrepreneur or by special permission of the instructor.

Topics to be Covered

1. Close payroll at year-end using the company data files

Learning Outcomes

1. Prepare procedures for reconciling the year’s payroll records to prepare year end reports

2. Balance monthly payroll totals to quarterly reports; prepare employee W2s & W3; prepare Federal Unemployment report when required

3. Submit W2s and W3 to the Social Security Administration and any required State agencies