Four Tips to Prepare for Year End at Your Staffing Agency

With the new year quickly approaching, it’s time to revisit some best practices that will maximize your staffing agency’s efficiency and minimize errors in the year-end process. Ariel Peterson, our tax manager, offers some advice for your agency to consider as your team prepares for year-end filings and W-2s.

1. Start planning for year-end early.

Beginning your year-end processes and W-2 filings as early as possible will ensure you have plenty of time to fix any errors in your back office system before the end of the year. Finding and correcting these errors now will help you avoid tax amendments and W-2 corrections.

2. Verify account information.

Go over your account information to ensure accurate reporting. Account numbers, unemployment tax rates, and filing frequencies should be reviewed and entered accordingly in your back office system. Keep an eye out for changing rates and frequencies, as states will begin sending updated information as the new year approaches.

3. Review employee records.

Take time to review any of your exempt employees or those who are missing information. Starting early gives you more time to fill in any potential gaps. You should also consider reviewing employee tax set-ups to ensure their W-2s will reflect accurate information. Go over the Tax State field, local taxes, and any items that may be mistakenly marked exempt on the taxes under the employee profile’s pay set-up. Revisiting your worksite set-ups to make sure the accurate tax state and local taxes were selected is also recommended.

4. Review reports.

The tax deposit report and the employee wage statement report are both important for the year-end process. The tax deposit report gives you an overview of the jurisdictions that have been processed on your checks. You can set the run date for the period you want to research to help you make sure no incorrect taxes have been generated. Looking over the employee wage statement will help you confirm that an employee has been taxed appropriately.

These are just a few simple reminders to help your team stay on top of year-end processes and make it is as smooth as possible. If you would like to learn more about Lone Oak Payroll’s year-end tax services, contact us today!


Ariel Peterson, Tax Manager

Ariel Peterson is the Tax Manager at Lone Oak Payroll and has been with the company since July of 2012. Ariel and her team handle everything related to payroll taxes for our clients, including tax filings and payments. In addition, Ariel and her team help clients manage their accounts, keep tax rates updated, and keep their accounts in good standing.