How to Close Payroll Year in menu 5-3-8

Summary

How to Close Payroll Year (menu 5-3-8) in Sage 100 Contractor

Description

In version 24.2 and later, you may now keep payroll records for multiple years in your company database, while maintaining the ability to process payroll records for the current payroll year. Closing the payroll year, from menu 5-3-8 is simpler and less time-consuming than archiving the oldest payroll year in Database Administration for Sage 100 Contractor and does not require backing up the company database; thus, saving you valuable time and providing you the ability to generate payroll reports covering multiple payroll years. Closing the payroll year from menu 5-3-8 does not create a separate archive database for the payroll records. The closed payroll records remain in the current company. After closing the payroll year, you still have the option of archiving the oldest payroll year from Database Administration for Sage 100 Contractor, at a time of your choosing, to remove those payroll records from the company database and place them in a separate archive company database.

▼What happens when choosing 5-3-8 Close Payroll Year?

When you close the payroll year from menu 5-3-8 Close Payroll Year, Sage 100 Contractor does the following:

1. Saves certain payroll data separately from the current records for the year that you're closing.

2. Clears each employee’s YTD and QTD totals, including sick and vacation YTD amounts.

3. Updates each employee’s Last Year Carry Forward amounts with the current available Sick and Vacation hours.

4. In the U.S. Edition, create employee ACA records for the new year by copying the December values from the closing year.

5. Updates the first pay period paid in the current year ended for the biweekly payroll period setting in the 5-6-6 Time Entry Settings window.

6. Advances the current payroll year.

Resolution

Before proceeding, read What is Multiyear Payroll (Close Payroll Year) in Sage 100 Contractor versions 24.2 and later? and New Feature: 5-3-8 Close Payroll Year

Important: It is strongly recommended you make a backup of your company before following the steps below to close the payroll year, as the close process does not make an automatic backup and is not reversible.

To Close Payroll Year

Install the year-end update. The year-end update may contain fixes or enhancements to the Close Payroll Year process.
From any machine, connect to your Sage 100 Contractor company database as an Administrator and Payroll Administrator (if you use this feature).
Ensure you have read, understand, and completed the steps noted in the section What should I do before closing a payroll year in What is Multiyear Payroll (Close Payroll Year) in Sage 100 Contractor versions 24.2 and later?
Open menu 5-3-8 Close Payroll Year.
Click Close Payroll. The following message will display:

Click Yes to continue with the payroll close; click No to cancel the close.

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How to Close Payroll Year in menu 5-3-8

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Resolution

To Close Payroll Year

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