Summary
When to install the Sage 100 Contractor year-end tax update.
Resolution
Installing the Year-End Tax Update and Closing the Payroll Year in Sage 100 Contractor
Complete the necessary steps before processing the first payroll of the new year.
Why This Matters
The year-end tax update includes:
- Fixes and enhancements for the Close Payroll Year and Archive Oldest Payroll Year processes.
- Updates federal and state income tax rates (U.S. version).
- Updates provincial and territorial tax changes (Canadian version).
NOTE: Install the update before closing or archiving the payroll year to avoid incorrect tax calculations or system errors.
Step-by-Step Instructions
- Finalize Current Year Payroll.
- Process review, and finalize all payroll for the current year
- Double-check for any unposted or incomplete payroll records
- Run Payroll Audit.
- Go to menu 5-3-7 Payroll Audit
- Click the Repair button
- Review and resolve any payroll audit errors
- Install the Year-End Tax Update.
- Download and install the year-end update from Sage
- Follow the installation instructions provided by Sage to apply the update correctly
- Close or Archive the Payroll Year.
Choose one of the following options
- Use menu 5-3-8 Close Payroll Year to close the current payroll year
- Use Database Administration to Archive the Oldest Payroll Year
Important: Install the year-end update before performing either of these actions.
Next Steps
Important: Once the above steps are complete, you can safely begin processing payroll for January in the new tax year.
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