The recommended timeline for Year-End tasks in the Canadian Edition of Sage 100 Contractor.
Description
Version 26.1 and later can combine archiving of the oldest fiscal and payroll years with the Archive Oldest Fiscal Year process in Database Administration. To perform this action, the company database's Fiscal year-end date must be December 31, just like the payroll year-end.
Resolution
Year-end payroll and general ledger task sequence
▼2. Install the Year-End Update You can install the year-end tax update anytime. It doesn't need to align with your payroll processing schedule or the effective date of income tax withholding tables.
Previously, you had to install updates only after completing your last payroll for the old year and before starting the first payroll for the new year. This required careful coordination and often disrupted your workflow.
What's new in version 27.3
With version 27.3, Sage 100 Contractor retains both the old and new tax tables. It automatically applies the correct table for each payroll run based on:
1) The effective date of the new table.
2) The payroll check date.
How it works
1) Install the year-end tax update.
2) Process payroll as usual without adjusting your schedule.
3) The system applies the correct tax table for each payroll run.
▼7. Advance the posting period If your fiscal year-end is 12/31, change your posting period from 12 to 1 in menu 1-6 Period/Fiscal Year Management. Repair any audit errors.
Other year-end-related tasks
Africa
Asia
Australia
Canada
France
Ireland
Kenya
Nigeria
Portugal
South Africa
Spain
United Arab Emirates
United Kingdom
Germany