Caution: Make a backup before closing the payroll year
When you close a payroll year, all pay history amounts from the year you close are cleared from your company file, and your company file is prepared for a new payroll year.
Note: When your payroll year must be closed
Before you close the payroll year, complete all pay runs and print all year-end payroll forms. (Preparing and printing year-end tax forms)
Note: You must complete all original and amended tax forms before you close the payroll year
Before you finish a payroll year and begin a new one, you must print forms P14 and P60, and print the P35(CS) and P11 reports. Even if you plan to e-file forms P14 and P35, you must also print form P60 for distribution to your employees.
Note:
Use the End of Year Tax Forms Assistant to prepare the P35 Employers Annual Return, as well as other end of year tax forms. (Working with the End of Year Tax Forms Assistant)
Once the year is finished, detailed payroll information is no longer available. That makes it essential to make a backup of your MYOB company file after printing these documents and before finishing the year. Without a backup of your company file, you will not be able to use Accounting to prepare or e-file either amended or original year-end tax returns, or to print the P11 and P35 reports after you've closed your payroll year. If you've made a backup, however, you can restore the file and print the necessary forms and reports. (If you do this, be sure to make a copy of your current MYOB company file and restore the current file once you've printed your reports.)
Perform your usual end-of-month tasks. (Performing month-end tasks.)
Step by step