This is a summarized list of steps to be followed to close the year

if you have a separate company for Office Payroll.

 

The instructions are for both your Office and Regular payroll companies.

Detailed instructions can be found on the Support website (cfdatasupport.com) under Year End.

 

Please read through all instructions. Keep track of each step after it is done.

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During December, before the last week of Payroll for 2022:

• ETW - Run to find out how many W2’s to order

 

In the Office payroll AND the Regular payroll company:

• Include insurance and vehicle allowance (if applicable) as part of employee’s weekly check

• Issue bonus checks

NOTE: W2’s for 2022 must be created and EYU run BEFORE running Payroll checks in 2023.

 

Before the First Week of Payroll for 2023 - In the Office payroll AND the Regular payroll company do the following:

• EWU - Run reports and update the last week of the year

• EMU - Run reports and update the last month of the year

• ECR - 401K Contribution Report and Update (if applicable)

• EQU - Run reports and update the last quarter of the year (if applicable, run payroll specials first)

 

Before the First Week of Payroll for 2023 - In the OFFICE Payroll Company ONLY:

• EWF - Create the W-2 Master File

• EWE - Print the W-2 Edit Report - check bottom of report for asterisks indicating an error

• If needed- EWT- make edits to the W2’s.  Items can be added to boxes 12 and 14 (401K automatically prints in Box 12). Be sure to print new EWE-W2 Edit Report when exiting EWT.

• Compare the EWE (W-2 Edit) report to the total of the 4 quarter’s 941 reports and the Quarterly Tax Figures (EQU/EQF) for state wages (instructions can be found on the support website)

 

Before the First Week of Payroll for 2023 - In the Office payroll company AND the Regular payroll company - Run these optional but recommended year-end reports:

• ESY, EYC, EYF, EYO (all under Year End & W2’s)

• EXI (under Tax Check History) Can be run at anytime.

• EPD & EPH (under Inquiries & Reports) Can be run at anytime.

• ELR (set up a report listing Deductions and YTD deductions)

***NOTE: Put aside a backup from just prior to updating the year (EYU).***

 

VERY IMPORTANT:

• EYU - Update the Payroll year. (Both companies.)

• ES4 - Set new 401K limit. (Both companies.) - both the Z and z (Roth) codes will be updated

 

Mid-January 2023:

2023 Tax changes will be available the second week of January. Watch for an upgrade notification.

 

Before January 31:

• EW2 - Print W2’s

• EWD - If you need to create your Federal W2’s to file electronically

• EXF - Federal EFW2 Transfer if you file electronically

• Only if you have special program to file state W2’s electronically – run EWS and EXS from office company

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NOTE: Form 1095C runs independently of W2’s and may be started at any time during the Year End Process