We hope you all are enjoying your year-end thus far! We wanted to send out some helpful information for you to know when Microsoft Dynamics GP Year-End Update 2022: Canadian Payroll.
Changes this year for the 2022/2023 Year-End Update can be found Canadian Payroll Year-End and Tax Updates for Microsoft Dynamics GP | Microsoft Learn however, I did want to include some of the main points below:
Approved Numbers for Quebec
Software Development Number for XML – RQ-22-01-072
RL-1 Slip Authorization number FS2201091 (enter in the Payroll T4/R1 Print window)
Basic Personal Amount Updates:
RL-1 form and XML – Changes
T4 Slip & XML – No Change
T4A – form & XML – No Change
Now, let’s get started with our year end steps that should be the same year after year, but still are good reminders for everyone.
What steps should I take to close the year?
~For more detailed steps, please refer to the Year-end closing procedure for the Canadian Payroll module in Microsoft Dynamics GP, by clicking: Year-end closing procedures for the Canadian Payroll module in Microsoft Dynamics GP (Original KB 861806)
- Complete all the pay runs for the current year.
- Complete any necessary 2022 Payroll reports.
- Make a backup of the data.
- ***Install the 2022 Canadian Payroll Year-End Update/2023 Tax Update. ***
- Complete the “Year End File Reset” process.
- Make a backup of the data.
- Create the T4, T4A, and RL-1 statements, and print the T4, T4A, and RL-1 reports.
- Edit the T4, T4A, and RL-1 records as necessary.
- Create T4, T4A, and RL-1 Summary records.
- Print the T4, T4A, RL-1 reports and create T4, T4A and RL-1 XML file, if appropriate.
- Verify that the Pay periods for 2023 are set up correctly.
**This will be translated to French.
Key Points to remember:
- The Year End Close process moves all your current year data into the Last Year (LY) tables, and it doesn’t take the date into consideration. For this reason, it is very important that you complete ALL 2022 Payrolls (step 1) and then complete at least through the year end file reset (step 5) before doing any 2023 payrolls.
- It is vital that you install the Year-End Update before the Year End Reset (Steps 4 and 5) because you are prompted during the Year End Reset to update Basic Personal Amounts. If you miss this, you will need to restore from a backup.
- When you do the Year End Reset it changes the Basic Personal Amounts for employees. Depending on the Province it will either add a fixed amount or increase the amount by an indexation factor as determined by the Provincial Authority.
- This is an all-inclusive update.
The 2022 Canadian Payroll Year-End Update is targeted to release in mid/late December 2022.
– No T4 or T4A form changes.
– No T4 or T4A XML changes
– RL1 form and XML changes for Quebec
By CAL Business Solutions, Connecticut Microsoft Dynamics GP & Acumatica Partner, www.calszone.com