Summary
How to start a new calendar year and deal with paycheque processing in Sage 50 Accounting.
Description
- When you advance the calendar year, it closes the previous payroll calendar year including tax calculations
- If you start a new calendar year, you'll have to calculate taxes for paycheques for your current calendar year manually
Resolution
Use one of the following options to process payroll:
You haven't started a new year yet
- Wait until payroll is complete before starting the new calendar year
You need to start a new year but do payroll for the current period
- You'll have to calculate taxes for paycheques for your current calendar year manually
- Check the payroll tax deduction amounts from the CRA Payroll Deductions Online Calculation (PDOC) website
You accidentally started a new year
- Restore a backup from the correct calendar year
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