Payroll Year End Close

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Payroll records are based on a calendar year rather than a fiscal year and all employee year-to-date earnings must be reset to zero at the start of each year. Therefore, the payroll module can be closed independently of the other modules. The W2s do not have to be printed prior to closing the payroll module for the year.

AccuBuild releases a final update at the end of the year that contains the federal and state withholding tax table changes as well as any W2 or 1099 tax form changes. All other federal and state payroll tax rates and cutoff limits must be manually changed through the Payroll > Properties option. Please use the Calendar Year End Notes document to guide you through this process.

Close the Payroll Calendar Year

1.	Go to File > System Administrator > Configuration > Accounting Tab.

2.	Change the Payroll Cutoff date to 01/01/xxxx (where xxxx represents the new calendar Year.) Do not change the fiscal year end date.

3.	Click OK to save your changes.

4.	The system will automatically launch the Update Employee Totals integrity test. This will update the year-to-date earnings on each employee to zero (since there are no payroll transactions yet entered in the new calendar year).