Year End Check list
- Reviewed Accruals (Employee Year to Date report and opening balance)
- Reviewed Accruals and Deductions payroll category if ‘Reset at Year end’
- Processed all payrolls for 2020
- Reviewed Employee Information ( Name, SIN, Address, etc)
- Reviewed Company Information (Name, address, RCT #, etc)
- Review employer (EI) rate - Configuration → company Edit
- Make a Backup
Year End Update Process
- Identify the License file location by going to Help > License information. After installing the new version, you might be prompted for location of the license file or the license file path. {License file location is ___________________
Server Location:____ ______________________}
Make a backup of your company data by going to Utilities > Backup Company Data and then close Clarity. - Download the latest version of Clarity which will include the latest tax tables from customer.paymatesoftware.com by logging in, clicking on Clarity under Product Name and scrolling down to Current Downloads to find the download link. Please take note of where you are saving/downloading the new version to on your computer. {Save to location is ____ ________________}
- Uninstall the current version of the software within the Add/Remove a program or Uninstall a program function in your Windows Control Panel (follow instructions provided online if you are not sure how to uninstall)
- Install the new version from the location you saved the program to in step # 2. If you have multiple computers for payroll, you must install the program on each computer. The serial number and remaining licenses are only activated once.
- Copy the maintenance year key (also referred to as unlock key in Clarity) from our website.
- Launch Paymate Clarity
- Go to Help > License information > ‘Activation Key’ button and then Paste your new Maintenance Year key. After pressing “Ok” you will see a dialogue box appear that says “Online Activation Successful”
- Clarity is now renewed for 2021.
*If you are experiencing difficulty activating your keys please Email at support@paymatesoftware.com with your username and screen shot of error message so we can create new keys for you. We are open Monday to Friday 9 to 5 (EST)
Closing Off Your Current Year
- Click on Year End > Close Year
- Read the instructions provided and then click next.
- Review Options and click Next
- Make a Backup
- Type ‘CLOSE 2020′’ and Click on Process, then OK
- The 2020 year is now closed and you can process payroll for 2021
- Select ‘Setup > Payroll Groups’ and verify each group that is weekly or biweekly.
- If group was Weekly – 53 periods or Bi-weekly 27 periods select the drop down to change them to Weekly -52 periods or Bi-weekly 26 periods respectively.
- If group was Weekly – 52 periods or Bi-Weekly 26 periods select the drop down to change them to Weekly -53 periods or Bi-Weekly 27 periods, scroll to the bottom of the calendar and look at the new last pay period that was added. pay dates are in Calendar Year
- ‘Edit’ each group (you might only have one), to verify cheque dates (they can be changed here or at payroll time).
- Review TD-1 information Federal / Provincial if you have any additional tax credit (Note: Additional tax credit will not carry forward) - it is under Employee > Taxation Information.
Watch our video here: https://youtu.be/oJJwPrP-SIc