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As part of our year-end form webinar series, Greenshades hosted a session focused on actionable payroll and HR strategies to help businesses streamline year-end tasks and prepare for a successful 2025. Michael Halford and Jason Kools shared key insights and tools to optimize processes, ensure compliance, and maintain efficiency throughout the year.
You can watch the full session here:
Addressing Common Year-End Pitfalls
We began by identifying common challenges businesses face, such as year-round reconciliations, benefits and ACA reporting, and timely payroll record-keeping. These areas are critical for compliance and operational success, making them a priority for year-end planning.
Effective Year-Round Reconciliations
To avoid discrepancies during year-end, we emphasized the importance of reviewing payroll after each run, rectifying errors promptly, and maintaining detailed records. These best practices ensure smoother reconciliation and accurate reporting.
Ensuring Accurate Form 941 and W-2 Reporting
We highlighted the importance of reconciling quarterly returns with year-end W-2s. Automation can help flag discrepancies early, track payroll adjustments, and ensure compliance with IRS requirements.
Maintaining Accurate Employee Data
Accurate employee records are the backbone of successful payroll management. We walked through the key data points employers must track year-round, including tax information, wages, and benefits, to prevent errors during year-end reporting.
Empowering Employees with Self-Service Tools
The session showcased the Greenshades self-service portal, which allows employees to manage updates like W-4 changes, timekeeping, and PTO requests. This tool not only reduces administrative workload but also enhances employee satisfaction.
Staying Compliant Year-Round
Compliance is an ongoing effort. We covered the importance of reporting all taxable income correctly, classifying employees properly, and adhering to local, state, and federal regulations to avoid penalties.
Navigating Payroll and Tax Compliance for 2025
With updates to minimum wage laws across multiple states, we discussed how businesses can stay ahead by monitoring policy changes and adjusting payroll processes accordingly. Regularly updating employee W-4 forms, staying current on tax codes, and using automation for accurate withholdings were key recommendations.
Regularly updating employee W-4 forms, staying current on tax codes, and using automation for accurate withholdings were key recommendations.
Optimizing Payroll for Complex Needs
For businesses with diverse payroll requirements, we highlighted Greenshades’ ability to handle on-demand pay runs, multi-jurisdictional filings, and automated calculations for unique pay structures.
ACA Compliance and Reporting
To simplify ACA reporting, we shared strategies for tracking employee coverage, calculating full-time status, and generating accurate Form 1095 codes, ensuring compliance year-round.
Takeaway: Building a Solid Foundation for 2025
By implementing these strategies, businesses can reduce risks, improve accuracy, and stay compliant. Greenshades provides the tools and expertise to make payroll and HR management seamless.
Ready to simplify your payroll and HR processes? Schedule time with us to learn more about how our solutions can support your year-round compliance and operational goals.
