Start a New Payroll Year
The payroll year follows the calendar year (not your fiscal year). You should start a new payroll year on or just after January 1st. You will need to Start a New Payroll Year before you can process the next year's payroll. It is required that your current payroll year matches the year you are trying to process payroll for.
To check your current payroll year go to the top menu bar and select Setup > Payroll & 1099 Information or Setup > Payroll Information.
To Start a New Payroll Year
- Go to the top menu bar and select File > Start a New Year > Start a New Payroll Year.
- The first window will prompt you to make a backup of your company file. It is very important to make this backup and label it appropriately in case you need to access it.
- The next window will explain what happens when you Start a New Payroll Year. Click Next.
- Then you will define your new payroll year. Verify the right year is entered here. Click Next.
- If you've made a backup of your data and have put it in a safe place you are ready to click Start a New Payroll Year.