It's December and the Canadian Payroll Year end is almost upon us.  Here are some helpful hints to make your year end go as smoothly as possible.

In a nutshell here are the necessary steps for closing your year:

 

1. Complete all the pay runs for the current year.
2. Complete any necessary 2011 payroll reports.
3. Make a backup of the data.
4. Install the 2011 Canadian Payroll Year-End Update.
5. Complete the "Year End File Reset" process.
6. Make a backup of the data.
7. Create the T4, T4A, and RL-1 statements, and print the T4, T4A,
and RL1 reports.
8. Edit the T4, T4A, and RL-1 records as necessary.
9. Create T4, T4A, and RL-1 Summary records.
10. Print the T4, T4A, RL-1 reports and create T4, T4A and RL-1 XML
files, if appropriate.
11. Verify that pay periods for 2012 are set correctly.

 

 Items to be aware of:

1. When you do the year end close it moves all of your current year data into the Last Year (LY) tables and it doesn't take the date into consideration.  For this reason it is very important that you complete all 2011 payrolls (step 1) and then complete at least through the year end file reset (step 5)  before doing any 2012 payrolls.

2. It is vital to do your install before the Year End Reset (steps 4 and 5) because you are prompted during the Year End Reset to update Basic Personal Amounts.  If you miss this you will need to restore from backup.

3. When you do the year end file reset it changes the Basic Personal Amounts for employees.  Depending on the Province it will either add a fixed amount or increase the amount by an indexation factor as determined by the Provincial Authority. Check the Year End PDF to see what changes have been made.

4. The 2011 Quebec Software number is not yet available but when it is issued you can find it on the Year End Release pages found in the Resources below. 

5. Changes to Box 22 and 24!  Starting with the 2011 taxation year, we are required to fill out box 24 (EI insurable earnings) and 26 (CPP pensionable earnings) on the T4 slip. We cannot leave it blank even if the amount is the same as box 14 (employment income). This is a new requirement from CRA.

6. Be sure to make backups when indicated in the complete steps

 

Resources:

861806 Year-end closing procedures for the Canadian Payroll module in Microsoft Dynamics GP
http://support.microsoft.com/default.aspx?scid=kb;EN-US;861806

 

Partner Download:

GP2010
https://mbs.microsoft.com/partnersource/downloads/taxupdates/cagptuye2010.htm?printpage=false

GP10
https://mbs.microsoft.com/partnersource/downloads/taxupdates/cagpye10.htm?printpage=false

 

Customer Download:

GP2010
https://mbs.microsoft.com/customersource/downloads/taxupdates/cagptuye2010.htm?printpage=false

GP10
https://mbs.microsoft.com/customersource/downloads/taxupdates/cagpye10.htm?printpage=false

 

Assistance for Canadian Payroll Year End Close
Microsoft Dynamics GP Blog - http://blogs.msdn.com/b/dynamicsgp/
Microsoft Dynamics Community - https://community.dynamics.com/product/GP/default.aspx
Microsoft Dynamics Support - https://mbs.microsoft.com/support/newstart.aspx


****New for the 2011 year, there is a Year-End Video!!!!****
Check it out....SO COOL!
http://www.microsoft.com/showcase/en/us/details/91697dc7-4926-4144-8626-ca0eb8e284da

 

Be sure to check back to the Year-End Schedule post for current posted blogs and upcoming blog posts related to Year-End Closing for Dynamics GP.

 

 Jake Laux