It’s the most wonderful time of the year!
While this statement maybe true, this time of year can be complicated for your business. There are many things to consider when year end is approaching. From collecting all the necessary year-end documents to submitting your final payroll of the year, being organized and prepared is key to ensure a successful transition into the new year. Important things to remember this time of year are the upcoming holidays. Knowing when your payroll vendor and banks are closed, and when to submit your payroll is crucial. Paper Trails is here to make processing payroll around the holidays easy!
What holidays are Paper Trails and the banks closed?
Payroll and HR vendors and the banks are closed multiple days near year end. Below you will find a list of year-end holidays Paper Trails and the banks will be closed for 2022.
| Holiday | When is Paper Trails Closed? | When are the Banks Closed? |
| Thanksgiving | Closed Thursday Nov. 25th Closed Friday Nov. 26th |
Closed Thursday Nov. 25th Open Friday Nov. 26th |
| Christmas | Closed Friday Dec. 24th | Closed Friday Dec. 24th |
| New Years | Closed Friday Dec. 31st | Closed Friday Dec. 31st |
| Martin Luther King Jr Day | Closed Monday Jan. 17th | Closed Monday Jan. 17th |
When do I need to submit my payroll?
Just like any other payroll run, you will need to submit your payroll by noontime two business days before your payday. Keep in mind these holidays when processing your payroll:
- For the Thanksgiving Holiday:
If you have a Thursday payday, payroll will need to be submitted by noontime on Monday to be paid out on Wednesday. Friday paydays should be submitted by noontime on Tuesday. Payrolls submitted on Wednesday will be delayed until Monday.
- For the Christmas Holiday:
If you have a Friday payday, your payroll will need to be submitted by noontime on Tuesday to be paid out on Thursday. Otherwise, your payroll will be delayed until Monday.
- For the New Year:
If you have a Friday payday, your payroll will need to be submitted by noontime on Tuesday to be paid out on Thursday. Otherwise, your payroll will be delayed until Monday.
- For Martin Luther King Jr Day:
If you have a Monday payday, your payroll will need to be submitted by noontime on Wednesday to be paid out on Friday. Otherwise, your payday will be delayed until Tuesday.