The company tax year must be closed and signed off on. This ensures that all payrolls and reconciliation payrolls are processed. It allows production of the form W2 and form 1099 for employees.
Note: you may need to delete unfinalized payrolls and/or close quarters to finalize W2s.
Main Menu > Team > Payroll > Quarter/Year End Process > Company Tax Years
- From the Company Tax Years page, select the Year End Process icon for the applicable year.
- Select Close Tax Year
Select OK in the prompt. The text changes to Open Tax Year. Opening the tax year allows you to make further changes to existing payrolls or process new payrolls for the tax year. - Select Recalculate W2/1099s
- Select the There are [number] W2s which require approval link to open the W2s page.
- Select the checkboxes of the items you want to approve, then select Approve
- Select Approve in the prompt to confirm the action. The selected forms are approved, and the Approval Status column is updated.
- Select Back to Return to the Year End Process page.
- Select the Sign Off Tax Year step.
- At the Prompt, select Yes to confirm the action.