You must close the payroll year in the last month of your payroll year or soon after. Otherwise, you will not be able to enter paychecks for the next payroll year. Follow these simple instructions to start your year right.
You don’t need to close your fiscal year at any particular time. You can continue to use your company file after the last month of your current fiscal year. When you’re ready, here is what you need to know.
Every year we run this same article with the same link. Please be sure you are backing up, including taking a copy off-site, and you know how to restore your company file. You are your best insurance policy.