Year End Payment and Reporting

This year end we will be paying the first pay of 2016 on 12/31/2015.

Our issue is do we close the payroll with 12/31/15 by which everything will be in 2015, or do you close with 1/1/206 so that one day is in the new year?

Also what about W2's and changing the payroll year before or after the last pay?

The big issue seems to surround the fact that actually paying on 12/31/15 means the money should be on the w2 for 2015.

Input isvery much welcomed!!

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Infor Lawson Human Resources Group - Discussion

Comments

pbuckley

Wouldn't the check date determine which W-2 year to process in...moreso than the payroll close? The check date would also determine how it shows on the QUARTDED. All the payroll close does is allows you to process a check for th the year. If your check is dated 12/31/15 the quarterly reports would also pick it up on 4th qtr 2015 (not 1st qtr 2016). Unless you're planning on overriding these fields somehow.

Sorry, not much help...

0911060553270289.pdf

guy-bowen

The check date would be what determines what year the wages and deductions pertain to. If the payment date is 12.31.15 it will post in PRCHECK, QUARTDED and QUARTWAGE for 2015 not 2016. Unless your payment date is 1.1.16 it will allocate all to 2015 not 2016. We have this same situation but for 2015 we have a 27pp year to allot for the additional payment on 12.31.15.
Hope this helps in some way.

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