Period-end tasks

To close a payroll year

Note: This task requires single-user access. See Single-user file locking for more information.

Notes:
When your payroll year must be closed

What is the current payroll year of the AccountEdge company file?

Caution:
You must print Forms W-2 and W-3, and 1099 and 1096, before closing a payroll year

  1. Print all the reports that you need to show the previous year's transaction activity. You might consider printing a copy of each journal, because they show all transaction activity for a specified period. The Cash Disbursements Journal can be especially helpful, since it shows all "cash paid out" transaction activity, including the paychecks you wrote.


    Caution:  Make a backup before closing the payroll year
  1. Choose Start a New Year from the File menu and then choose Start a New Payroll Year from the submenu that appears.


  2. Click the Back Up button to make a backup of your company file. Clearly mark this backup and put it in storage as part of your permanent records. Click the Continue button.


  3. Follow the instructions that appear on your computer screen.


  4. After you start a new payroll year, you should always optimize and verify your company file. Optimizing your company file reduces your company file's size and makes it more efficient. The Verify Company File utility ensures that your company file is in "healthy" working condition.


    Note:  Optimizing and verifying may take a while

After Optimization is complete, open your company file and choose Verify Company File from the File menu.

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