The holiday season will soon be here and while most people are thinking of planning holiday parties and gift-giving, it is also important to think about your end-of-year payroll now.
Both the year end and holiday payroll processing can be stressful between planning for business closures and compiling end-of-year financials. Starting to think about the topic now and communicate with your BCN Payroll Specialist early to alleviate stress and make this busy time of year go smoothly.
Some things to consider:
Business closure dates: What dates will your business be closed over the holidays? Will you need to receive any payroll deliveries early? How will this impact your employees’ pay?
Pay date changes: Do you have any pay dates that should be changed due to the holidays? Have you reviewed your payroll processing schedule to determine the dates the banks will be closed when you will not be able to issue funds?
Bonus payments: Do you plan to pay any employees a bonus? When do you want that bonus payment to be made? Do those checks need to be printed on paper for you or will they be paid through employee direct deposit?
Fringe benefits: Are there any fringe benefit amounts that need to be reported? By what date do those need to be processed?
Once you have begun planning, it is crucial to involve your BCN Payroll Specialist in this conversation as early as possible. Even before you have amounts and final details, your Payroll Specialist can help answer questions and give advice on your plan. This will also allow them to start planning the processes they must have in place to ensure all your requests can be met in a timely manner.
BCN Services sends communications about all closures and holiday scheduling to help make your season run as smoothly as possible. Please call us at 800-891-9911 so we can assist with your holiday and year-end planning.
Dani Austin, Payroll Supervisor