T H E U LT I M AT E G U I D E :GETTING YOUR BUSINESS READY FOR END OF YEAR

2014 EDITION

TA B L E O F CO N T E N T S

Introduction

The Quick Checklist

Getting Your Employees Ready

The Checklist for Getting Your Employees Ready

Getting Your Accounting Ready

The Checklist for Getting Your Accounting Ready

Getting Your Taxes Ready

The Checklist for Getting Your Taxes Ready

How ZenPayroll Can Help

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INTRODUCTION

The end of year can be a very stressful

time for you and your business. That’s

why we wanted to help take some of the

anxiety out by providing you a helpful

guide on how to get your business ready

for the end of year.

We’ve broken this guide into three

pertinent sections for your business:

employees, accounting, and taxes.

Each section includes detailed to-dos,

best practices, and common areas of

concern. We also provide a printable

checklist in each section so you can

quickly stay on top of things.

At ZenPayroll, we try to make payroll

easy and delightful. We believe many

of the anxieties for your company’s end

of year preparation stems from legacy

processes and confusing information.

With this guide, we hope to help small

business owners like you navigate the

ins and outs of getting your business

ready for end of year.

GETTING YOUR EMPLOYEES READY

VERIFY EMPLOYEE DATA

Verify employee name

Verify employee address

Verify employee Social Security number

File W-2

VERIFY EMPLOYEE BENEFIT INFORMATION

Confirm retirement plan eligibility

Confirm health benefits (and imputed wages)

Confirm fringe benefits

Review sick time

Review vacation time

Review deferred compensation

VERIFY CONTRACTOR INFORMATION

Verify contractor name

Verify contractor address

Verify contractor identification number

File 1099

END OF YEAR EXTRAS

Grant year-end bonuses (if any)

Appreciate your team!

GETTING YOUR ACCOUNTING READY

PROFIT & LOSS REVIEW

Categorize your expenses

Look for anomalies

Review P&L again after adjustments

COLLECT W-9S

Collect W-9s from vendors and contractors

Issue 1099s for contractors (ZenPayroll will do this

for you) who you’ve spent $600 or more for services

GATHER AND ORGANIZE YOUR RECEIPTS

Gather receipts

Organize receipts by category

Copy down your thermal receipts

RECONCILE YOUR BANK ACCTS AND CREDIT CARDS

Check end-of year bank and credit statements match

your financial statements.

Match your accounting software ledger balance with

your accounts

ACCOUNTS RECEIVABLES AND INVOICES

Collect outstanding invoices before year-end

Check your Days Sales Outstanding to see if there

areas of concern

TAKE PHYSICAL INVENTORY

Match physical inventory with balance sheet

Appraise current value of inventory

GETTING YOUR TAXES READY

HOME OFFICE DEDUCTION

Check to see if you qualify

Calculate your deduction

VEHICLE AND MILEAGE DEDUCTION

Calculate your deduction at $0.56 per mile

Deduct additional costs like parking fees and tolls

TRAVEL EXPENSES

Collect your travel information including plane fare,

lodgings, meals, taxis, fees, tips

THE QUICK CHECKLIST

DOWNLOADTHE FULL GUIDEThe end of year can be stressful. With

ZenPayroll, running payroll doesn’t have

to be. We make sure your year-end

payroll is easy. That’s why we calculate,

pay, and file your payroll tax filings for

you. We built our software with small

business owners in mind, because we

know you’re busy growing your business.

Download the full guide to see what else

your business needs to get ready for the

year-end.

JOIN ZENPAYROLL TODAYAND GET YOUR FIRST TWO MONTHS FREE

“ZenPayroll has been a lifesaver. I don’t have to

worry anymore and all my back office loads are

fixed with a push of a button — that’s special.”

—Tristan Walker, Bevel

D O W N LOA D T H E F U L L G U I D E