To close the year for payroll:
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Process the last pay period of the year.
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Print the Quarterly by Tax Code Report.
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Print the Year End Payroll Report.
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Run the Payroll Year End Procedure utility.
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Print employee W-2s.
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Make a backup of the database.
Caution:
After the Delete Payroll Transactions
utility has been run, W-2s can no longer be processed. Be sure that
all W-2s have been printed correctly before performing the next step
.
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Optionally, you can run the Delete Payroll
Transactions utility. We recommend you save data for at least
two years before running this utility.