The fact that New Year’s Day 2016 falls on a Friday may pose an issue for those of you that run a biweekly payroll. Since banks will be closed Friday, Saturday and Sunday, checks and direct deposits dated for Friday, January 1st will not be honored until Monday, January 4th.
Due to this fact, you may want to consider backing up your pay date to Thursday, December 31st. If you choose to do that, keep in mind that the corresponding Calendar Month and Year on the Pay Master must be December 2015, with the end result being that the wages would be included on the 4th quarter 941 and 2015 W-2’s. It is not a problem, and is not uncommon, for the number of paychecks to vary from year to year, but it is something you should consider.
If you have any questions regarding this, please submit a cyber support request for our Payroll team.