Checklist of Year End Time Sensitive Tasks to be Completed - CCIM

Tips & TechniquesChecklist of Year End Time Sensitive Tasks tobe CompletedITT I ISS I RREECCOMMEENDEED TTHAATT TTHEESSEE SSTTEEPPSS BBEE CCOMPPLLEETTEED IN I DEECCEEMBBEERR ORR EEAARRLLI IEERRTaskDescription Things to Consider Page#Check Mark1 T4/T4A setup In systemconfiguration,select or validatevalues for T4/T4Asetup parameters.2 CRA Client Setup or validateyour organizationas a CRA Client.If your organization hasmade any changes toyour earnings ordeductions throughoutthe year, you need toconsider if this has anyimpact on the T4reporting.If there have been anylegislative changesthroughout the year,you may need to makechanges to yourreporting on the T4.If your T4 contactinformation haschanged since lastyear, you will need toupdate this informationon the T4.If you organization hasobtained a new CRABusiness Number thenyou will need to updatethe number on the BNtab of the tax screen.19-2834-383 ConfirmPension PlanConfigurationSetup or validateBenefit Maximum,PA Limit andYMPE rates.This should be checkedannually and changed ifrequired by PensionAuthority or legislation.109-114

Checklist of Year End Time Sensitive Tasks to be CompletedTaskDescription Things to Consider Page#Check Mark4 Run Pier and EIDeficiencyReportsCheck CPP and EIdeficiency reports.Contact the HRISSupport Centre toobtain templatesfor 2012 if thetemplates are notin your Pier Reportfolder.As the employee stillhas a pay to be paidbefore the end of thepay roll year, use theDirect Deductionmethod (EEScreens>Deductionsand Benefits>Directtab>Add the CPP or EItype. Remember thatyou need to include theEmployer portion aswell. This correction willalso update theamounts to correcterrors in the deficiencyreport.495ProcessT4/T4AsProcess CanadianPA Calculation andthe Canadian T4TaxReturn/CanadianT4A Tax Return onthe Year EndProcesses window.Both processes must berun before you cancreate reports. 39-436 Verify T4/T4AInformationRun the T4 andT4A Edit report andthe Pension Annualreport and usethem to verify theaccuracy of yourdata.Comparing the data fromreports to the R4/T4Ainformation should bepart of your pay rollauditing process.45-51

Checklist of Year End Time Sensitive Tasks to be CompletedTaskDescription Things to Consider Page#Check Mark7 MakeAdjustmentsAdjust deductionsand pension planvalues as required.Required adjustmentsmay be made at anytime in the pay roll yearup to processing yourlast pay period of theyear.Adjustments made afterprocessing the last payperiod of the year can bemade on a special payprior to closing the payperiod. Once the last payperiod has been closeadjustments can nolonger be made.53-558 Pay PeriodEventsIt is recommendedthat Pay PeriodEvents for the newyear be set up atthis time.Pay Period Events mustbe set up before youclose the pay periodand before the PayPeriod Event will occur.In other words, if anyrollovers will occur withthe first pay period ofthe year, you must setup the Pay PeriodEvent prior to closingthe last pay period ofthe year at the latest.82-86

Checklist of Year End Time Sensitive Tasks to be CompletedTaskDescription Things to Consider Page#Check Mark9 Edit and Futuredate Federaland ProvincialPersonalExemptionsYou may updatethe TD1 valuesnow and futuredate the entries tobegin with the firstdate of the first payperiod of 2013.Check the CRA websitefor 2013 values. Youmay want to askemployees if they wisha TD1 value other thanbasic. Rememberwhen updating valuesto use the first date ofthe first pay period of2013. If you wish to runthe Federal andProvincial TD1 Reportsfor the current year tosee current values, thereports must be runprior to closing the lastpay period of the yearas values by defaultreturn to basic with thefirst pay period of theyear.100-10110 Edit and Futuredate EI reducedrates, EHT,WSIB, UnionDues, Benefitand PensionPlan rates andYMPE?You may updatethese rates nowand future date theentries to beginwith the first date ofthe first pay periodof2013.Remember whenupdating values to usethe first date of the firstpay period of 2013.105,106,112, 113,13511 Delete Extra PayPeriods in thecurrent year ifrequired.Delete pay periodsif there are morethan required. Usecaution – youcannot reverse thedeletion.Must be completedbefore the extra payperiod is processed.93-9612 Create a NewPay roll YearA new pay roll yearmust be creatednow or beforeclosing the last payperiod of thecurrent year.Create a new pay rollyear, add StatutoryHolidays and edit payperiods if required.77-90

Checklist of Year End Time Sensitive Tasks to be CompletedTaskDescription Things to Consider Page#Check Mark13 Defining RetroDates for PriorYearIn order for thesystem to correctlyprocess prior yearretro in the newyear, you mustsetup dates thatdefine what isconsidered "prioryear."This only needs to beconsidered if anychanges have beenmade to your retro date.This needs to be doneprior to running theretro.134TTO BBEE CCOMPPLLEETTEED AAFFTTEERR TTHEE LLAASSTT PPRROCCEESSSSI ING OFF TTHEE YYEEAARR AAND PPRRI IORR TTOCCLLOSSI ING TTHEE LLAASSTT PPAAYY PPEERRI IOD OFFTTHEE YYEEAARRTask Description Things to Consider Page#Check Mark14 Process PA, T4and T4AIt is recommended toprocess the PA, T4and T4A processesat this time.These processes mustbe run before you cancreate reports.39-4315 Verify T4/T4AInformationRun the T4 and T4AEdit reports and thePension Annualreport and use themto verify theaccuracy of yourdata.Compare totals to theCRA Remittancereport, this should bepart of your regularpay roll auditingprocess.45-51

Checklist of Year End Time Sensitive Tasks to be CompletedTask Description Things to Consider Page#Check Mark16 MakeAdjustments toCPP or EIIf there are anyadjustments requiredto CPP or EI, theycan be processed atthis time under theSpecial Timecardprior to Closing thelast Pay Period ofthe year.Adjustments madeafter closing your lastpay period of the yearwill not be reflected inyour T4s.To use the SpecialTimecard process:Special timecard,Transaction Type = EEDeduction +Transaction Type =Employercontributions. Thisshould include theEmployer portion aswell.This method will createan AccountsReceivable item thatyour organization willneed to determinewhether to absorb orrecover from theemployee.PayrollGuidepage 18417 MakeAdjustments toEarnings orDeductionsIf any adjustmentsare required, theycan be processed atthis time under theSpecial Timecardprior to closing thelast Pay Period ofthe year.Adjustments madeafter closing yourlast pay period of theyear will not bereflected in your T4sor the GL for thecurrent year.To use the SpecialTimecard process:Special timecard,Transaction Type =Earnings or =Deductions.PayrollGuidepage 18418 ProcessT4/T4AsProcess CanadianPA Calculation andthe Canadian T4 TaxReturn/CanadianT4A Tax Return onthe Year EndProcesses window.Both processes mustbe run before you cancreate reports.39-43

Checklist of Year End Time Sensitive Tasks to be CompletedTask Description Things to Consider Page#Check Mark19 Print T4s andT4AsRun the T4 reportand T4A report toprint T4s and T4As.Use the Order By andFilter functionality inthe Report Tool. Forexample, orderalphabetically and filterto run the T4s or T4Asby department orfacility.58-6420 Pay PeriodEvents for thefinal payperiod of theyearPay Period Eventsmay need to be setup at this time if thiswas not completedin December. IE:Rolling bankbalances, VacationRollovers.Pay Period Eventsmust be set up prior toclosing the pay periodprior to when the PayPeriod Event willoccur. IE: If anyRollovers will occurwith the first payperiod of the year youmust set up the PayPeriod Event prior toclosing the last payperiod of the year atthe latest.If any Pay PeriodEvents will occur laterin the new year theycan be set up now orprior to closing the payperiod prior to thosePay Period Eventsoccurring.82- 7

Checklist of Year End Time Sensitive Tasks to be CompletedTask Description Things to Consider Page#Check Mark21 Edit and Futuredate Federaland ProvincialPersonalExemptionsIf this was notcompleted inDecember you maywish to do so now.You may update theTD1 values now andfuture date the entriesto begin with the firstdate of the first payperiod of2013.Or, you can also entervalues with your firstprocessing of the year.If you wish to run theFederal and ProvincialTD1 Reports for thecurrent year to seecurrent values, thereports must be runprior to closing the lastpay period of the yearas values by defaultreturn to basic with thefirst pay period of theyear.TTHEESSEE SSTTEEPPSS MUSSTT BBEE CCOMPPLLEETTEED NOW BBEEFFORREE CCLLOSSI ING YYOURR LLAASSTT PPAAYY PPEERRI IODOFFTTHEE YYEEAARR IFF I TTHEEYY WEERREE NOTT CCOMPPLLEETTEED IN I DEECCEEMBBEERR. .Task Description Things to Consider Page#Check Mark22 Create a NewPay roll Year23 Defining RetroDates for PriorYearA new pay roll year mustbe created now if notalready completed.In order for the system tocorrectly process prioryear retro in the new year,you must setup dates thatdefine what is considered"prior year."Create a new pay roll year, addStatutory Holidays and edit payperiods if required.This only needs to be consideredif any changes have been madeto your retro date and must becompleted before running theretro.

Checklist of Year End Time Sensitive Tasks to be Completed24 Steps toComplete nowif done soPlease review tasks to bedone in “December orearlier” above andcomplete them now if theywere not completed.TTO BBEE CCOMPPLLEETTEED AAFFTTEERR TTHEE QHRR HRRI ISS YYEEAARR EEND UPPGRRAADEE ON JAANUAARRYY J 1122, , 22001133AAND PPRRI IORR TTO PPRROCCEESSSSI ING AAND PPRRI INTTI ING YYOURR TT44SS, , TT44AASS. .Description Things to Consider Page#Check Mark25 Retire and Pullin new YearEnd FormsClients new to HRIS in2012: You will need to pullin new year end forms.Year end forms include the formsapproval number from the CRA.Clients who were live for2011 year end: you willonly need to retire oldforms and pull in newforms if CRA makeschanges to the year endforms.26 ProcessT4/T4AsProcess Canadian PACalculation and theCanadian T4.Both processes must be runbefore you can create reports.39-43Tax Return/Canadian T4ATax Return on the YearEnd Processes window.27 Verify T4/T4AInformationRun the T4 and T4A Editreport and the PensionAnnual report and usethem to verify the accuracyof your data.Comparing the data from reportsto the R4/T4A information shouldbe part of your pay roll auditingprocess.45-51

Checklist of Year End Time Sensitive Tasks to be CompletedDescription Things to Consider Page#Check Mark28 Adjustments -Edit T4 T4AInformationAdjustments after closingthe last pay period of theyear can only be made tothe Year End Window.If any YTD adjustments need tobe made to the T4 or T4A theycan only be made in the YearEnd Window. These adjustmentswill not be reflected in your GL.Values in the Year End Windowwill be overwritten if T4s andT4As are regenerated and if“Allow” Overwrite is selected.56-5729 Print T4s andT4AsRun the T4 report and T4Areport to print T4s andT4As.Use the Order By and Filterfunctionality in the Report Tool.For example, orderalphabetically and filter to run theT4s or T4As by department orfacility.58-6430 Export T4 T4AInformationExport data using the T4and T4A Export inQuadrant by February 28,2013.If your employee count is 50 ormore, you must export your datain an XML format.You will need a Web Accesscode from the CRA to transmityour file electronically. If this isyour first year filing electronicallyyou may not have this code, youcan call CRA at 1-877-322-7849to request one.64-69