Year End Update

The Payroll Year End Update clears the prior year YTD earnings figures, preparing the way for the payroll cycles in the new year.

If doing year-end processing, see Tax Table Maintenance.

Proceed only when there's no further need for payroll checks dated in the prior year.

Once the Year End Update is performed, and a payroll cycle in the new year is updated, it is not advisable to attempt to process a prior year's payroll check. Special procedures would have to be taken to do so (like first voiding all the payroll checks in the new year) and is not recommended.

Go to Payroll > Period End > Year End Update.
The Year End Update tab displays.
In the Set new payroll year to field, enter the new year.
Select Preview to review a list of employees whose data will be purged.
For non-standard calendar years that require an additional pay period, select the Extra pay period this year.
The system will calculate using the appropriate weekly and biweekly payrolls that occur in a non-standard calendar.
Select Continue.

If doing year-end processing, go to Print W-2 Forms or to Print T4 Slips.

Year End Update

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