Before completing the first payroll of the year, the following items should be reviewed and updated:
- Confirm new Employer Unemployment rate and update prior to running the first payroll.
- Change the status of any terminated employees to Inactive.
- Confirm the payroll schedule for the new year, review for accuracy (e.g., pay period), and check dates.
- Review tax rates (Unemployment) and wage limits (SS, FUTA, SUTA), and update as necessary.
- Update any pay rates or deduction rates that may have changed.
- Review employee contributions to qualified plans and update according to the new limits.
