At the end of the financial year you should close down your payroll for the year that has finished, and prepare the system for the new year. All updates required are carried out automatically by the system when you indicate that you have reached your year-end. You should do this after terminating the pay cycle.

Note: Year-end processing resets accumulated balances that are related to the fiscal year. You can clear accumulated balances that are not related to the fiscal year which do not need to be cleared at year-end, if required.

The procedures carried out by the year-end process include extracting information from the closing year (required for year-end returns, and so on) and resetting fiscal year cumulative totals for the coming year.

Note: Period 1 status is removed from all UK employees on Period 1 basis. This may need to be reversed if notified by HMRC.

Note: Emergency tax allowance is set up for all Irish employees for whom no tax allowance details have been received from the Revenue Commissioners for the new financial year.

When you have completed year-end processing, you can then produce the end of year reports when convenient.

To access this screen, enter fast path HR60U01 and select the structure ID.

General

Do you wish to proceed

Enter Y to run the cleardown process, or N to cancel.

MD60S05

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