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Payroll End of Year Closing Procedure

Many customers each year have issues in closing the Total Order Plus Payroll at the end of the year, leaving balances in the employee records that should have been cleared.

The system requires that the last month of the year and the last quarter of the year be closed prior to processing year-end procedures. The yearly earnings report and 1099 processing are options to the user. 1099 processing is usually done in the Accounts Payable module using the vendor masterfile information.

The W-2 Formatter can be maintained by the user. The formatter controls how the W-2 information is printed on certain lines on the form and  a specific row and column (right to left).

The Year-End Update clears all payroll figures for the year and removes all terminated employees. There are a couple of questions that MUST be answered Yes in order to properly close the year:

ARE YOU READY TO RUN THE YEAR-END PROCESSING? (Y-N)

HAVE YOU PRINTED THE YEARLY EARNINGS REGISTER? (YES-NO) (Optional)

ARE YOU READY TO PROCEED WITH THE YEAR END UPDATE? (YES-NO)

If you answer No to this question, you will see a warning message with an option to abort the year end closing. To proceed with the closing, you must answer No to abort.

ADJUST DEDUCTION GOALS BASED ON Y-T-D PAYMENTS?  (YES-NO)

You must answer Yes even if you do not have any deductions set up with goal amounts.

This concludes the year end procedure.