2024 End-of-Year Checklist
As the new year approaches, we've created our annual Virtual TimeClock End-Of-Year Checklist to help you remember important tasks and key dates to keep in mind during this busy holiday season. Reviewing this checklist will help ensure that your employee time clock and payroll are ready for 2025.
1. Carryover Unused Leave Hours
If your employee benefit year aligns with the calendar year, be sure to review your Virtual TimeClock leave awards and carry over any applicable unused leave hours from 2024.
2. Update Employee Information
Ensure that your employees' personal information is kept up to date. W-2 forms are due by Friday, January 31, 2025. If this date falls on a Saturday, Sunday, or a legal holiday, the deadline will be the next business day. You can use the User Notes tab in the Virtual TimeClock Users panel to document important wage changes and document performance reviews. Our updated User Profile Report makes it easy to print or export your User Notes.
3. End-of-Year Payroll
Be aware that there may be deadlines for submitting payroll direct deposits several days before the end of the year. It's important to confirm the final submission date for payroll in 2024 with your payroll provider.
Once you have finalized and approved the timecards for the last payroll period of the year, make sure to close the payroll period in Virtual TimeClock. This step will help protect your data from any changes made to settings for the New Year.
Don't forget about inactive and terminated employees who earned wages in 2024.
4. Check Your Backups
Losing your data can be both costly and time-consuming. To protect your Virtual TimeClock data, make sure you have automatic Scheduled Backups enabled. It's equally important to periodically check that your scheduled backups are working as expected! You can access your scheduled Backup Settings through your Server Manager if you're using the Network Edition, or from the Configure menu if you have the Pro Edition. Basic Edition users should perform regular backups manually.
The end of the year is a good time to verify that your automatic Virtual TimeClock backups are running as expected!
5. Important Dates
- Wednesday, December 25, 2024 | Banks are closed (Christmas Day)
- Wednesday, January 1, 2025 | Banks are closed (New Year's Day)
- Friday, January 31, 2025 | W-2 forms are due
For information on federal and business holidays in 2024, please see our Federal Holidays and Business Holidays calendars.