Closing the Year for Payroll

To close the year for payroll:

Process the last pay period of the year.

For more information, see Processing Payroll.
Print the Quarterly by Tax Code Report.
Print the Year End Payroll Report.
Run the Payroll Year End Procedure utility.
Print employee W-2s.

For more information, see Processing W-2 Forms at Year End.
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 .
Optionally, you can run the Delete Payroll Transactions utility. We recommend you save data for at least two years before running this utility.