Close the payroll year

https://help.myob.com/wiki/x/qyIkAw

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AccountRight Plus and Premier, Australia only

Known issue 01/07/2020 - Leave error in AccountRight 2020.2

Are you seeing an error like this when processing leave for an employee in the new payroll year?

This is because the employees' leave balances haven't carried over from last payroll year, but they will when you record your first pay.

So, in most cases you can ignore this warning and process the pays as normal.

When you record the pay, your employees' leave balances will carry over from the previous payroll year.

From AccountRight 2020.2 onwards, there's no need to close the payroll year so we've removed that option from the File menu.

Stay compliant by using the latest AccountRight version, and see how we've simplifed your end of payroll year.

Closing the payroll year will:

clear the payroll history from employee cards
prevent you from preparing payment summaries for the previous year using the Payment Summary Assistant
carry over entitlement balances that have the Carry Remaining Leave Over to Next Year preference set in the Entitlement Information window of the entitlement category
clear any entitlement balances that don't have the Carry Remaining Leave Over to Next Year preference set in the Entitlement Information window of the entitlement category
prevent you from editing or deleting pay amounts for the previous year.

If you've been reporting payroll information to the ATO using Single Touch Payroll, don't forget to finalise your Single Touch Payroll information.

To close the payroll year

Go to the File menu, choose Close a Year, and then Close a Payroll Year. The Close a Payroll Year Assistant opens. Can't see this option? See the note above.
Click Next and set the new payroll year details.
Click Next.
Click Backup and follow the instructions in the windows that appear.

Once the year is closed, detailed payroll information will no longer be available for editing. You should make a back up now, so that if you need to reprint reports or payment summaries you can restore the backup and complete those tasks.
When you're ready to close the year, click Close the Payroll Year. The Conclusion window shows the details of the new year.
When you're done, continue with Updating the PAYG tax tables.

Looking for key EOFY dates? Check our EOFY hub.

FAQs

Can I roll back a closed payroll year?

If you've closed the payroll year by mistake or closed it multiple times, you'll need to restore a backup created before you closed the payroll year.

Related topics

Updating the PAYG tax tables

Closing a payroll year

Page tree

To close the payroll year

FAQs

Can I roll back a closed payroll year?

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