End of Period

The end-of-period menu contains programs which should be run at the end of each month, period and year to close them correctly and acquire the information needed to report to the government. (Please refer to the normal procedures section.)

The monthly close-out procedures consist of running the following:

The Period Earnings/Deductions Report prints a report of all wages earned and deductions withheld in the period (month).

The Period GL Distribution prints a report of all general ledger expense distributions created during the Check Register for the period (month). An optional removal is included to remove the records after printing.

The Period Check Register prints a list grouped by bank of all regular, manual and void checks for the period (month). An optional removal is included to remove the records after printing.

The Unemployment Report prints a list of employee wages and state unemployment tax due for the period (month) by tax type.

The End-of-Period Update is run to clear out the period-to-date earnings, deductions and unemployment information.

The quarterly close-out procedures consist of running the following:

The Period Earnings/Deductions Report for the quarter

The 941 Print lists 941 information (federal tax and FICA amounts withheld) for reporting purposes.

The 945 Print lists 945 information (income tax withheld for nonpayroll items) for reporting purposes.

The Clear Check History program removes check history by date as determined by the user.

The Unemployment Report for the quarter

The End-of-Period Update is run to clear out the quarter-to-date earnings, deductions and unemployment information.

The yearly close-out procedures consist of running the following:

The Period Earnings/Deductions Report for the year

The Unemployment Report for the year

The W-2 Information Capture program must be run so that you can close out the year and start running payrolls before printing the W-2s. The program is found on the end-of-year procedures menu. (see next section)

The End-of-Period Update is run to clear out the year-to-date earnings, deductions and unemployment information.

At this point, the W-2s may be printed and/or W-2 Magnetic Tape Update may be run along with the W-2 Magnetic Tape Report to file with the Social Security Administration. The Clear Check History program should be run periodically (as set by the user) to clear out check history to keep the file from filling up.