Close Year End

This window resets the employee's year to date figures for the new financial year in preparation for the new year.

Prerequisites

  • BIR Form 2316 must have been produced.

Rules and Guidelines

  • This option is only used at the end of the financial year.
  • If all the fields Units, Amount and Contract Amount on the Allow/Deduct code are zero and the Reference field is blank, the record will be deleted.
  • If any one of the three numeric fields is not zero, or the Reference field is not blank, the figures will be reset for the new financial year,but not deleted.
  • If you are working in a PEX-enabled database (i.e. Prevar *PP_EXCHANGE Position 1= Y), Close Year End must only be run from within an Environment because this process generates an Outbound file to be sent to PEX. PEX requires separate files for every Payrun Group where every file follows a naming convention. Thus, this process looks at the Environment to find the Payrun Group, Period Number (from Payroll Calendar found on the record which has the required combination of Payrun Group and Pay Frequency 1 from Payrun Register screen), and GCC and LCC.

Field Information

Employee year to date figures are reset based on the date entered. This is the date the financial year ends.

  • If entering a Payrun Group this must be the same Payrun Group used throughout the processing sequence.
  • If using Pay environments and the user is attached to a Payrun Group, this field will display the allocated Pay Group.