Year End Checklist

The Year End Checklist section provides step-by-step checklists for processing your year end information. This section also includes supplementary instructions for processing Confidential Payroll at year end.

Payroll Year End Checklist

After completing the final payroll cycle for 2021, it is necessary to close payroll records and prepare for 2022

Important: If you have Confidential Payroll, please read through the Confidential Payroll Year End Instructions before following this checklist. There are additional or alternate steps you will take if you have a Confidential Payroll company.

This is an overview of the year end process:

  • Order 2021 Forms.

  • Complete the final 2021 pay cycle.

  • Print the period end payroll reports.

  • Perform the Build W-2 Forms Build T4 Slips.

  • Adjust tax tables for 2022 rates.

  • Change processing dates to 2022.

  • Perform the Year End Update.

  • Commence Regular 2022 Pay Cycles.

  • Complete W-2 processing Print and update T4 Slips.

For more information about what you can do to prepare for year end before your final payroll cycle, look at the Setup section of the Year End Help File.

Step 1. Order 2021 Forms

  • W-2, W-3, and 1099-Misc Forms are available online at https://storeviewpointforms.com or via phone at (800) 544-3427.

  • Viewpoint Forms are all guaranteed to work with Spectrum.

  • Now is a good time to review your check stock and order more if you are getting low!

Step 2. Complete the final 2021 Pay Cycle

  • For all checks cheques dated 12/31/2021 or prior.
    Note: If the period end date is in 2021 and the check date is in 2022, it is a 2022 pay cycle check.
  • Once the Year End Update is performed and a 2022 payroll cycle has been updated, payroll checks cannot be run for 2021 again, otherwise the new year's YTD totals will be incorrect.

Step 3. Print the Period End Payroll Reports

  1. From the Site Map, navigate to Payroll > Reports.
    Note: If in a Confidential Payroll company, navigate to Confidential Payroll module to run payroll reports. Refer to the Confidential Payroll Year End Instructions for more detail.
  2. Print quarterly tax reports that are appropriate for you:

    • Payroll Register

    • Unemployment Tax Report

    • Quarterly Federal Tax Report

    • State Disability Insurance Report

    • Subject to Tax Report

    • Workers' Compensation Report (Rate per $100)

    • Workers' Compensation Report (Rate per Hour)

    • Workers' Compensation Job Expense Report

    • Employee Earnings History Report

Step 4. Perform the Build W-2 Forms Perform the Build T4 Slips

  1. From the Site Map, navigate to Payroll > Period End > W-2 Processing, then click the Build button.
    Note: If in a Confidential Payroll company, navigate to Confidential Payroll > W-2 Processing module to build W-2 forms, then click the Build button. Refer to the Confidential Payroll Year End Instructions for more detail.)
  2. Perform the Build W-2 Forms. See the Payroll Processing topic for more details.

Step 5. Update Tax Tables to 2022 Rates

There are two methods for updating the income tax graduated tables in Spectrum: they can be updated manually, or you can use the tax table import download from the Viewpoint Customer Portal.

The tax table import only updates income tax graduated and percentage income tax tables for U.S., Canada, state and province tax codes. It also updates standard deductions and exemptions as applicable.

IRS Notice 1036 contains the US Federal taxation rates. We recommend reviewing this publication when setting your US tax rates.

Tax Table Subscription Update – for Income Tax Graduated Tables only

This process updates income tax tables across all Spectrum companies.

Note: If you run payroll in multiple companies, before entering updates in US tax tables, complete Steps 1-4 of the Year End Checklist in all payroll companies.

Viewpoint provides an electronic tax table update, which users load into Spectrum. It covers federal income tax tables and all 50 states graduated and percentage income tax tables. It also updates standard deductions and exemptions as applicable. It does not cover other tax rates, such as FICA, Unemployment, SDI or Worker's Comp. Please adjust and confirm those tax rates and limits manually (see the section below on updating US Tax Tables manually).

  1. Log in to Viewpoint Customer Portal.
  2. Click Products and select Spectrum.
  3. Click Spectrum 2022 Tax Tables in the Downloads section.
  4. Click the Downloads 2022 Tax Tables folder.
  5. Select the PRTAXTABLE-2022-XX.PRO file.

  6. Click the Download button, and save the .pro file to your workstation. For more detailed instructions on installing the tax table subscription, view the Tax Table Loading Instructions document available in the Spectrum customer portal.)

  7. In Spectrum, go to System Administration > Year End > Tax Table Import.

  8. Click Preview.

  9. Verify that all payroll cycles are completed in ALL companies, and print the Tax Table Listing report before proceeding with the import.

  10. Upload the file saved in step 5. When the update is completed, the screen will return to the Site Map.

To update the US Tax Table manually, perform the following steps:

  1. On the Site Map, click Payroll > Maintenance > Tax Tables.

  2. In the Tax Table Maintenance screen, type "US" in the search field and click Go.

  3. On the Income Tax tab, select a filing status.

  4. Click Edit to make changes to the graduated tables, as required for that filing status.

    • On the Std Deduction and Tax Credit tabs, taxes should remain at None. The Exemption tab should be set for US Withholding values. It is the amount of withholding before calculation. The Exemption, Std Deduction and Tax Credit tabs are set for each filing status separately.

  5. The Other Taxes tab has FUTA and FICA rates.

  6. When you are done making changes, print the Tax Table Listing and compare it to the numbers on the IRS site.

State Tax Tables, manual update:

Note: For Multi-Company Users: If you perform Payroll in more than one Spectrum company, don't forget to do these steps in each company.
  1. On the Site Map, click Payroll > Maintenance > Tax Tables.

  2. In the Tax Table Maintenance screen, type the state tax table code in the search field and click Go.

  3. On the Income Tax tab, select a filing status.

  4. Click Edit to make changes to the graduated tables and other income tax settings, as required for that filing status. Please consult with individual state revenue departments and/or your tax advisor to set up withholding for state income taxes.

  5. The Other Taxes tab has SUTA and SDI rates.

  6. When you are done making changes, print the Tax Table Listing and compare it to the numbers in state department of revenue documentation.

Worker's Compensation Rate Changes

Worker's compensation rates may have changed as well. Be sure to make changes, when new rates are available.

On the Site Map, go to Payroll > Maintenance > Worker's Compensation.

Step 6. Change Payroll and General Ledger Processing Dates to 2022.

On the Site Map, go to System Administration > Installation > Processing Dates.

Note: If the first payroll dated in 2022 will have a December 2021 period end date, set the minimum date to the period end date.

Step 7. Perform the Year End Update Procedure

The Payroll Year End Update clears the prior year YTD earnings figures, clearing the decks for a New Year payroll cycle. Once the Year End Update is performed, and a payroll cycle in the New Year is updated, it is not advisable to attempt to process a prior year's payroll check cheque. Special procedures would have to be taken to do so (that is, voiding all the payroll checks cheques in the New Year) and is not recommended. Please confirm that all payroll checks cheques dated for the prior year have been completed.

  1. Go to Payroll > Period End > Year End Update. The Year End Update/Employee Purge tab displays.

  2. In the Set new payroll year to field, enter '2022'.

  3. Click Preview to review a list of Employees that will be purged.

  4. Click Continue on the Year End Update / Employee Purge screen to finish the procedure.

For non-standard calendar years that require an additional pay period, the system will calculate using the appropriate weekly and biweekly payrolls that occur in a non-standard calendar year by selecting the Extra pay period this year checkbox on the Tax Table Maintenance or Year End Update screens.

Step 8. Commence Regular 2022 Pay Cycles

Note: Make sure check dates are in the New Year, regardless of the work date.

Step 9. Complete W-2 processing

Note: If in a Confidential Payroll company, navigate to Confidential Payroll > W-2 Processing module to build W-2 forms, then click the Build button. Refer to the Confidential Payroll Year End Instructions for more detail.
  1. Go to Payroll > Period End > W-2 Processing.

  2. Print the W-2 Listing and review. Make changes and reprint the list if necessary. See the Payroll Processing topic for more detailed information on W-2 processing.

  3. All employees who have generated a W-2 are listed in the W-2 Form Maintenance screen. To browse for the desired employee, page down to scroll through the file. (The employee search window will only provide a list of employees found in the current company.)

  4. Confirm that the W-2 format is correct.

  5. Print the W-2's on plain paper to see how they will look. Be sure the W-2's print at the desired printer and that the format matches your W-2 forms.

  6. Load the W-2's into the printer and print. Employee W-2's are due by January 31, 2022.

  7. Prepare the W-3 Form if you are filing paper W-2 forms.

  8. Review and make any changes as necessary.