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 2023, it is necessary to close payroll records and prepare for 2024.

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 to take if you have a Confidential Payroll company.

This is an overview of the year-end process:

  • Order 2023 Forms.
  • Complete the final 2023 pay cycle.
  • Print the period end payroll reports.
  • Perform the Build W-2 Forms.
  • Adjust tax tables for 2024 rates.
  • Change processing dates to 2024.
  • Perform the Year End Update.
  • Commence Regular 2024 Pay Cycles.
  • Complete W-2 processing.

For more information about what you can do to prepare for year-end before your final payroll cycle, see Year-end Preparatory Actions.

Step 1. Order 2023 Forms

Step 2. Complete the final Pay Cycle of the year

  • For all checks dated 12/31/2023 or prior.
    Note: If the period end date is in 2023 but the check date is in 2024, it is a 2024 pay cycle check.
  • Once the Year End Update is performed and a 2024 payroll cycle has been updated, payroll checks cannot be run for 2023 again, or else the new year's YTD totals will be incorrect.

Step 3. Print the Period End Payroll Reports

  1. Go 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 relevant to 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

  1. Navigate to Payroll > Period End > W-2 Processing, then select the Build button.
    Note: If in a Confidential Payroll company, navigate to Confidential Payroll > W-2 Processing module to build W-2 forms, then select 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 2024 Rates

There are two methods for updating the income-tax-graduated tables in Spectrum:
  • Programmatically - Apply the automatic tax table import available for download from the Viewpoint Customer Portal.
  • Manually - Enter updates in the Income Tax tab of the Tax Table Maintenance screen.

Automatic Tax Table Update – for Income-Tax-Graduated Tables only
Note: The electronic tax table update provided by Viewpoint 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. Adjust and confirm those tax rates and limits manually.

The electronic tax table update affects all companies equally. 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.

  1. Log in to Viewpoint Customer Portal.
  2. Select Products and select Spectrum.
  3. Select Spectrum 2024 Tax Tables in the Downloads section.
  4. Select the Downloads 2024 Tax Tables folder.
  5. Select the PRTAXTABLE-2023-XX.PRO file.
  6. Select the Download button, and save the .pro file to your workstation. For more detailed instructions on installing the tax table file, view the Tax Table Loading Instructions document available in the Viewpoint Customer Portal.
  7. In Spectrum, go to System Administration > Year End > Tax Table Import.
  8. Select 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 6. When the update completes, the screen returns to the Site Map.

Manual Update: US Tax Table and FUTA/FICA rates

Note: IRS Publication 15-T contains the US Federal taxation rates. Review this publication when setting your US tax rates.
  1. Go to Payroll > Maintenance > Tax Tables.
  2. In the Tax Table Maintenance screen, type "US" in the search field and select Go.
  3. On the Income Tax tab, select a filing status.
  4. Select 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. In the Other Taxes tab, update FUTA and FICA rates as needed.
  6. When you are done making changes, print the Tax Table Listing and compare it to the numbers on the IRS site.

Manual Update: US State Tax Tables

Note: For Multi-Company Users: If you perform Payroll in more than one Spectrum company, take these steps in each company.
  1. Go to Payroll > Maintenance > Tax Tables.
  2. In the Tax Table Maintenance screen, type the state tax table code in the search field and select Go.
  3. On the Income Tax tab, select a filing status.
  4. Select 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. In the Other Taxes tab, update the SUTA and SDI rates if needed.
  6. When you are done making changes, print the Tax Table Listing and compare it to the numbers in state department of revenue documentation.

Update Workers' Compensation Rates

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

Go to Payroll > Maintenance > Worker's Compensation.

Step 6. Update Aatrix Tax Table Types

If you use Aatrix to file, update tax types on a periodic basis using an Aatrix import file stored in the Viewpoint Customer Portal.
  1. Go to the Viewpoint Customer Portal, select Aatrix Tax Types for Spectrum, and download the CSV file to your workstation.
  2. In Spectrum, go to System Administration > Year End > Import Aatrix Tax Types.
  3. Select Continue, and then Choose File.
  4. Navigate to and select the .csv file downloaded to your workstation, and select Upload.

When the upload is complete, you are returned to the Site Map.

Step 7. Change Payroll and General Ledger Processing Dates to 2024.

Go to System Administration > Installation > Processing Dates.

Note: If the first payroll dated in 2024 will have a December 2023 period end date, set the minimum date to the period end date.

Step 8. Perform the Year End Update Procedure

Important: Before you proceed, confirm that no further payroll checks are needed dated for the prior year.

The Payroll Year End Update clears the prior year YTD earnings figures, preparing the way for the payroll cycles in the new year. 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. Special procedures would have to be taken to do so (like voiding all the payroll checks in the new year) and is not recommended.

  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 '2024'.
  3. Select Preview to review a list of employees whose data will be purged.
  4. Select Continue on the Year End Update / Employee Purge screen to finish the procedure.

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

Step 9. Commence Regular 2024 Pay Cycles

Note: Make sure check dates are in the new year, regardless of the work date(s) or the period end date.

Step 10. Complete W-2 processing

Employee W-2s are due by January 31, 2024.

Note: If in a Confidential Payroll company, navigate to Confidential Payroll > W-2 Processing module to build W-2 forms, then select 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 and review the W-2 Listing. If necessary, make changes and reprint the list. See Payroll Year-end Processing 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-2s on plain paper to confirm the W-2s print at the desired printer and that the format matches your W-2 forms.
  6. Load the W-2s into the printer and print.
  7. If you are filing paper W-2 forms, prepare the W-3 Form.