p Run and post the final payroll for the year that you are closing. This includes all checks dated in
p Reconcile employee totals. How?
p Reconcile payroll tax totals. How?
p Reconcile Payroll to General Ledger. How?
p Print management reports.
p Make a backup of your entire database, if you haven't already done so. How?
p If needed, install year end software update.
p Customize the T4 format, if necessary. How?
p Generate T4s (before or after closing the year in Payroll). How?
p Close the year in Payroll. How?
p Create an annual archive after completing your calendar-year processing. This archive can be used for restoring data or reporting purposes.
p (Optional) Perform file maintenance. How?
In January, prepare for the first payroll of the new year.
p Download and update taxes for the new year. How?
Note: Only install taxes after you have posted all cheques for the year that you just closed.
p If necessary, modify personal tax credit amounts.