 CAUTION: This resolution can require you to install a payroll tax update. Update taxes in each company folder that doesn’t share a tax file. After you complete this installation, tax changes take effect the next time you process payroll. This occurs regardless of the effective date on the tax table or the dates on the check. Tax updates don’t affect previously issued checks.
Overall Q: Do I need to install the year-end version before I print T4s, ROE, or T5018?
A: Yes, you must install the year-end version before you process or print those government forms or reports. You don’t need to install the year-end software version before processing payroll for the new year. See the Payroll and Accounts Payable sections below for more information. Q: In what order do I close my applications at year-end?
A: All Sage 300 Construction and Real Estate Accounting and Management Product applications close independently of one another. You can close in any order, as long as you close General Ledger last. You typically close applications in the following order: - Payroll: This ensures the first payroll for the new year processes correctly. You can generate T4s and ROE before or after you close the year in Payroll.
- Accounts Payable: You can generate T5018s before or after you close the year in these applications.
- Equipment Cost, Contracts, and Job Cost: Job Cost and Equipment Cost send entries to General Ledger, and Contracts sends entries to Job Cost. Close these applications before you close the year in General Ledger. If the new month is the first month of a new year, then closing replaces the year-to-date totals with the next year's totals.
- Accounts Receivable, Property Management, and Cash Management: These applications send entries to General Ledger. Close them before you close the year in General Ledger.
- General Ledger: Close year in this application last to ensure it includes all entries posted from the interfacing applications.
Accounts Payable Q: Can I print T5018s before I close the fiscal year in General Ledger?
A: Yes. You can print T5018s regardless of whether you’ve closed the fiscal year in General Ledger. See the next Q&A for more information. Q: Do I need to close my 1099 year before I print T5018s and checks for the new year?
A: No, you don't have to close your 1099 year before generating your T5018. General Ledger Q: Can I close the fiscal year in General Ledger before I know what all my prior year adjustments are going to be?
A: Yes. You can close the fiscal year so that you're able to print financial statements in the new year. When you make entries to a period in a prior year, open the appropriate prior period to post those entries in General Ledger. After you post entries to the prior year, close your fiscal year again and the posting period again (Tasks, Open/Close Posting Period). Payroll Q: In what order do I close the year in Payroll, install the tax file update, and install the year-end version?
A: You can close your year, update taxes, and install the year-end version in any order. Consider the effect that issuing checks and generating W-2s will have relative to the timing of these year-end tasks. For more information, continue reading the Q&As below. Q: What do I need to do before I process checks for the new year?
A: There are several things you must do before processing checks for the new year. - Print and post all checks for the old year.
- Close the year in Payroll.
- Update taxes.
Q: What do I need to do if I do a bi-weekly Payroll and the year has 27 periods?
A: See information on modifying the CPP formula. Q: What do I need to do before I generate T4s?
A: There are a couple of things you must do before generating T4 slips. - Print and post all checks for the old year
- Install the year-end version
You don’t need to close the year or update taxes before generating T4s. Q: What are some examples of year-end task workflow?
A: Here’s an example of a common year-end Payroll workflow for Sage 300 CRE customers: - Print and post old year checks.
- Close the year.
- Update taxes.
- Enter time, process, and print new year checks.
- Install the year-end version.
- Print T4s.
Q: Do I need to close the month before I close the year?
A: No. If your current Payroll month is December, you can only close the year. Closing the year also closes the last month of the year. Q: When do I update the Payroll tax file for the new year's tax changes?
A: Download and update taxes after you print and post the last payroll of the old year (2025) and close the year. Do these before you process checks for the first payroll of the new year. Although Update Taxes makes tax rates current for the new year, you still need to change local taxes and rates specific to your company. If you install the tax update before you process the final checks for the old year, the checks will process with the new tax rates. See steps to correct taxes updated too soon. Q: When do I print year-end Payroll reports?
A: You can print T4s before or after closing the year. Q: Can I process payroll for the new year before I print T4s?
A: Yes, as long as you close the year in Payroll and update taxes first. You can then process payroll for the new year.
See the following Q&As for more information. Q: Can I enter time for the new year before I close the old year in Payroll?
A: Yes, you can enter time before closing the year. However, don't process or print payroll checks for the new year before closing the current year and updating taxes. Q: Can I process, print, or post payroll for the new year before I close the old year in Payroll?
A: No, don’t process or print payroll checks for the new year (2026) before closing the year and updating taxes.
If you issue checks for the new year before closing the old year, it will affect your check calculations and government reports. See steps to correct a check you issued for the new year before closing. Q: Do I need to install the year-end version before I print checks for the new year?
A: No, you don't have to install the year-end version before printing checks for 2026. Q: Do I need to install the year-end version before I print my T4s?
A: Yes, to guarantee form compliance you must install the year-end version.
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