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Training Tidbit: How do I enter next year’s wages for employees?

To enter next year’s wages for your employees, utilize the Create Payroll Wages for New Year option (accessed from the Options menu in the Employee File) as a shortcut.  When using the Create Payroll Wages for New Year option, wages can be created for the new year by copying the previous year’s amounts, or the wages can be created with zero dollars and then the new amounts manually entered on the Wages screen in the Employee File.

Tips for Creating Payroll Wages for New Year:

  • The new year wages can be created at any time, just be sure that the contracts for the new year have a Start Date entered so they are not paid until the applicable payroll.  For example, be sure contracts have a Start Date of 09/01/YYYY, in order to start including them in the September payroll.
  • When completing the Create Payroll Wages for New Year option, enter 2024 in the New Fiscal Year End field.  Also, to set a specific start date for all the new wages (applicable for contract pay codes only), enter the desired date in the Start Date field; otherwise, leave the field blank to use the same Start Date as the previous year’s wages except with the year incremented.

For step-by-step instructions on completing the Create Payroll Wages for New Year option, refer to the Creating Payroll Wages for New Year for Payroll Purposes topic in the Help File.