Year-end rollover and prior years

What this does

Closing the year starts the year to date again at zero for pays dated in the next year. A closed year can still be corrected.

Steps

1. Approve or delete every open run of the year. If not, the page says "Approve or delete the year's open runs first."
2. Make and file your slips and returns. See T4 slips and the T4 return.
3. Go to Year-End and pick the year.
4. Under Year-end rollover, read "Every run of the year is approved. Close the year once the slips are filed."
5. Choose Close the year.
6. Confirm. The message says "Close {year}? Year to date starts again at zero for pays dated in the next year; {year} can still be corrected."
7. The page then shows "{year} was closed on {date}."

Prior years

The year buttons at the top right of Year-End show the last year and the current year. Choose last year to reprint slips, save the XML again from the filing history, or fix a shortfall in the earnings review.

Good to know

• Pays are taxed by the year of their pay date. A pay dated in January belongs to the new year.
• The tax tables for a new year come as signed updates. See Tax tables and updates.
• A correction to a closed year still posts to that tax year. See Correct a pay run.
• Read-only users cannot close the year.
• Back up the company file before you close the year.