Caution: Make a backup before closing the payroll year
When you close a payroll year, all pay history amounts from the year you close are cleared from your company file, and your company file is prepared for a new payroll year.
Note: When your payroll year must be closed
Before you close the payroll year, complete all pay runs and print all year-end payroll forms. (Preparing year-end payroll tax forms)
Note: You can't purge payroll transactions entered during the current payroll year
Perform your usual end-of-month tasks. (Performing month-end tasks.)
Since W-2 and 1099 information is tracked using pay history, you must prepare and print Forms W-2 and W3, and, if necessary, Forms 1099 and 1096, before you close a payroll year and start a new one. All the features required to prepare, print and update Forms W-2 and W-3 are built into your MYOB AccountEdge software. You will have to register with the MYOB Payroll Forms service if you want to print certified copies of any other year-end payroll tax forms, however.
You must register separately for MYOB's eFiling services if you plan to eFile any payroll tax form -- including W-2s and W-3s -- using AccountEdge. To register for eFiling, contact the MYOB eFile Center.
Note: Forms 1099 and 1096 cannot be prepared or filed using the MYOB Payroll Forms Service
To learn the current payroll year of your AccountEdge company file and other general payroll information, choose General Payroll Information from the Setup menu.
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