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 W-2 and W3 forms, 1099 forms and Form 1096 before you close a payroll year and start a new one. To learn the current payroll year of your AccountEdge company file and other general payroll information, choose General Payroll Information from the Setup menu.
Warning: Make a backup before closing the payroll year!
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