Microsoft Dynamics GP Canadian Payroll Year End Training
The Canadian Payroll Year End classroom training sessions are held in December and focus on the processes required for each of the following:
- Employee Master Numeric;
- TD1 Control Amounts; and,
- Last Tax Update.
Year End Reporting and Reconciliations
- Employee Master records; and,
- T4 preparation review and reconciliations.
Tax Table Updates
- Backups (Last year Pre Year-End Tax Update Last year Post Year-End Tax Update);
- Control File Tax update date; and,
- Steps to update tax tables.
Year End File Reset
- Copy files to history;
- Tax Credit Indexation Factors (TD1);
- Reset Employee Master; and,
- Last year end update – what does this date represent.
Create T4’s, T4A’s and RL1’s
- Edit T4’s;
- Using Employee Master LY;
- Using Edit function; and,
- Employee, Employer and CRA copies;
- Electronic copies for CRA; and,
- Vacation year ends.
- Deletion of historical employees; and,
- Vacation accruals.
The Canadian Payroll Year-End must be processed prior to your first payroll in January.