Webinar_Step_7A_C._Update_tax_year_FWT_SWT_09m00s_

Webinar: Step 7A-C. Update tax year, FWT, SWT (09m00s)

If you have printed all payroll reports for the tax year AND you have updated all transactions for the tax year to the General Ledger, there are three steps to complete. First, you’ll close the current payroll year. Closing the payroll year means the transactions in the closed year will be locked. Next, you’ll update the new federal tax rates and last, you'll update the state tax rates. When you’re done, the Payroll application will be ready to go for the new payroll year. 

Learn how to 

  • Step 7A. Close the payroll year [More]

  • Step 7B. Update new federal and state tax rates [More]

  • Step 7C. Update Social Security tax pay code [More]

 

 

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