End-of-period procedures
> Starting a new payroll year
Starting a new payroll year
You must close the payroll year in the last month of your payroll year or soon after. Otherwise, you will not be able to enter paychecks for the next payroll year.
note :
Do not update tax tables
before the following procedures are complete.
Do the following tasks to close your current payroll year and start a new one.
Task
1
Run your last payroll
2
Optimize and verify your company file
3
Back up your company file
4
Start a new payroll year
5
Install product updates
6
Run your first payroll
7
Restore your backup
8
Print year-end payroll forms
9
Print vendor 1099 statements
10
Print payroll reports
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