A Year-End Close That’s Mostly Already Done
Because every paycheck maintained year-to-date accumulators all year, W-2 boxes, Form 940, and 1099-NEC summaries fall out at year-end instead of being rebuilt.
What year-end produces
Most year-end pain is reconciliation - proving that the sum of the year’s checks equals the forms you file. Fintra removes that step by deriving the forms directly from the same YTD accumulators the engine maintained on every check.
| Output | Source | Status |
|---|---|---|
| W-2 boxes 1–6, 12D/DD, 16–17 | YTD accumulators | Computed + reported |
| Form 940 (annual FUTA) | YTD FUTA wages | Computed (full 5.4% credit assumed) |
| 1099-NEC summary | Contractor ledger | Computed with $600 threshold |
| W-2 PDF / EFW2 e-file | Rendering layer | Documented stub |
Year-end checklist
Close the payroll year
- Confirm all Q4 runs are approved and processed
- Review the w2-summary for anomalies (Box 1 vs Box 3/5 relationships)
- Reconcile tax-liability and tax-payments for the year
- Generate Form 940 and confirm the FUTA credit assumption fits
- Produce the 1099-NEC summary and confirm who crosses $600
Honest scope
Inside Fintra
The same accumulators feed the employee portal (my-YTD, my-W-2-status), so what employees see all year matches what you file at year-end.
Frequently asked questions
Why is Fintra’s year-end reconciliation simpler?
W-2, Form 940, and 1099 figures derive from the same year-to-date accumulators every paycheck maintained, so the forms already equal the sum of the year’s checks - there’s no separate rebuild.
Does Fintra file year-end forms?
Fintra computes and reports every figure. Official PDF rendering and EFW2 e-file are documented stubs, so filing is done outside Fintra from Fintra’s numbers.
What’s the Form 940 limitation?
It currently assumes the full 5.4% FUTA credit and doesn’t model credit-reduction states - a documented limitation to confirm against your states.
Can employees see their year-end figures?
Yes - my-YTD and my-W-2-status in the portal read the same accumulators, so employee views match the forms you file.
Stay in the loop
One practical finance briefing a week - new guides, checklists, and benchmarks.
Close the year without the rebuild
Generate W-2s, Form 940, and 1099s straight from year-round YTD data.
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