Technical Support Blog

2017 End-of-Year Time Clock Checklist

The following are important time clock and payroll considerations that will help you prepare for the new year:
  
Tax Cuts and Jobs Act of 2017
In late December, congress passed the Tax Cuts and Jobs Act of 2017. This law lowers the tax rates for many workers and may lower employee payroll withholdings for 2018. Be an advocate for your employees and contact your payroll provider about changes to withholdings before running your first payroll of 2018!

Wage Changes
Minimum wages are changing for some states on January 1. You can review any changes coming to your city and state by visiting the Department of Labor's website

Carryover Unused Leave Hours 
If your employee benefit year follows the calendar year, you'll want to review 2018 awards and possibly carryover unused leave hours at the end of the year. We have a guide that shows you how to easily carryover used leave hours for your employees. 
 
Update Employee information
You'll need to review employee address and wage information to ensure everything is up-to-date prior to sending out employee W-2 forms in January. This is a good time to update employee information in Virtual TimeClock. Open the Users configuration window and review address, wage and emergency contact information. Use the Notes section to document dates of information changes, wage histories, and performance reviews. 

End of Year Payroll
Confirm with your payroll provider the final date you can submit payroll for 2017. You may have a deadline for direct deposit submissions several days before the end of the year. After you've finalized and approved timecards for the final payroll period of the year close the payroll period in Virtual TimeClock to protect your data from changes to settings made for the New Year.

Check Your Backups
It's essential to backup your timecard data. It is no less important to periodically ensure that automated data backups are occurring as expected. We have helpful articles to verify that backups are running as scheduled and how to setup scheduled backups of your Virtual TimeClock data. 

Important Dates
The following are some upcoming dates related to your timecards and payroll:
 
Monday December 25, 2017
  • Banks are closed (Christmas Day) 

Monday January 1, 2017
  • Banks are closed (New Year’s Day) 
  • Changes to minimum wage and sick leave laws in some states and cities.
  • Verify any changes to payroll withholdings as a result of the Tax Cuts and Jobs Act of 2017.

Wednesday January 31, 2018
  • Deadline to provide W-2 & 1099 forms to employees and workers. Don't forget about inactive and terminated employees who earned wages in 2017.
     
For information on other upcoming federal and business holidays, see at our Federal Holidays and Business Holidays calendars.