by Cary Welsh, Director of Training &
Design
It’s that time of year again – time for the year-end close of
the Payroll module. Payroll is the one module in Reporting to the MAX including Point of Sale and Non-profit Versions that operates on a calendar different than the Fiscal
Calendar for the company. Payroll uses a twelve-month calendar that
extends three months to allow time to perform the year-end operations
necessary before closing the year. If you attempt to process Payroll
after fifteen months, or March 31st, the error message “date greater
than Payroll fifth quarter end” message will appear. You will be
unable to enter your April payroll until you have done your year-end
closing for Payroll, and the Payroll year is reset.
So, rather than being surprised when you go to process your first
April payroll, follow a few simple steps now that will save you from
being rushed later.
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1.
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Check to see if you have closed your year already.
- Open the Payroll module.
- From the Options menu, select Module Preferences.
- At the top of the General Tab will be the Current Year
End field. If you have closed Payroll already, it will
read 2002 and you can rest assured that Payroll has been
closed for 2001 and you will be able to process payroll
for 2002. If the Current Year End field reads 2001, then
you will need to follow the steps below
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| 2. |
Backup all your data files and store them
off-site or in a fireproof container for your security. This
step is crucial; once you have closed Payroll, you will not be
able to view the data for a closed year with out referencing a
backup of the data. Without a backup, you might be unable to
recover data you need in the event of data problems or
corruption. |
| 3. |
Always complete all year-end tasks, such as printing
W-2’s and 941’s, before you process year-end. After you
process Payroll year-end such as printing W-2s, processing
Magnetic Media, printing all the reports required to complete
your payroll taxes, and providing an adequate audit trail, you
may lose the data required to complete those tasks. (Refer to
your Payroll User’s Guide and online help for more
information on performing these tasks before processing
year-end.)
Run any reports for the year you’re closing (2001 this
year), including W2’s, magnetic media W2’s, 941, history
reports etc., if you have not done so already.
Make sure no one else is in the Payroll module (if you have
a multi user license).
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| 4. |
From the Period End menu, select Close
Year. |
| 5. |
A warning message will appear. The message
outlines what the year-end process does and reminds you to
backup your files. If you have backed up your files and
performed all the year-end process you need, Click OK
to begin the process. When finished, it will return you to the
Payroll Menu screen. |
Congratulations! You have closed your Payroll module for 2001, and
you are now ready for the 2002 payroll year.
If you wish to get more information, please email us at
or call us at (714) 228-5444
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