Canadian Payroll Year-End Tax Update: Are You Prepared?
Year end is getting closer! The Canadian Payroll Year-End tax update is tentatively scheduled for December 18th. Are you prepared?
Canadian Payroll Process
Canadian Payroll Year-End involves a two part process:
1. Install the Year-End/2014 Tax Update
- This is the same as a service pack/patch/feature pack. So there is an installation and a database update. Everyone needs to be out of the system until the server and the user’s program has been updated. The patch is installed on the server first and then on all other machines where Dynamics GP is installed.
2. Year-end payroll close
- This is a payroll process. Once the tax update is installed, the year can be closed and T4s run at that time or at a later date. The year MUST BE CLOSED prior to running your first payroll in 2014.
Note: Both steps 1 & 2 are done AFTER the last payroll in 2013 and BEFORE the first payroll in 2014.
The year-end tax update is scheduled to release December 18th. Please continue to check the following links for this release.
GP2010 Canadian Payroll Year-End Tax Update
GP2013 Canadian Payroll Year-End Tax Update
Please ensure you download the documentation, to ensure a complete understanding of these procedures.
GP10 customers will no longer receive any year-end tax updates
YOU NEED TO UPGRADE AS SOON AS POSSIBLE!
If you haven’t already scheduled your update and would like assistance with your year-end tax update please contact us.
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