Is there a way to reverse a payroll year end close the same way we can reverse year end close for the GL? Our client would like to undo the payroll year end close to be able to do a pay run for an employee that was supposed to be done in 2022 and post it. Any info would be appreciated.
In the next fiscal year, the accruals for the prior fiscal year need to be reversed from the balance sheet so that expenses are not double counted when paid in the next fiscal year.. Accruals are automatically reversed on the first day of the new fiscal year. TigerIsHome
In the next fiscal year, the accruals for the prior fiscal year need to be reversed from the balance sheet so that expenses are not double counted when paid in the next fiscal year Portal 4 Me Accruals are automatically reversed on the first day of the new fiscal year.
The payroll year-end close is a bit different than the other modules. There isn't any reverse or undo of it because you can create the year-end wage file as many times as you need to.
As long as your payroll tax tables, FUTA, SUTA, workers compensation rates haven't been updated for 2023 yet, you can do the pay run for 2022 and then just create the year-end wage file again.
I hope this helps.
Joe
Eddie,
I had a hospital in this same situation a couple years ago. Below are the steps I provided to the hospital for the GP payroll and it worked successfully. I don't know how to reverse the year end close for GL.
MICROSOFT DYNAMICS GP PAYROLL
REMOVE YEAR END GUIDE
If you have closed the GP payroll year end and discover a problem, you can remove the year end close and start over. Below are the steps.
1. GP
2. HR & Payroll
3. Utilities
4. Remove Year-End Information
5. Select Year, click Insert
6. Click Process button
7. Are you sure you want to remove information for the current year? Click Remove
8. You won’t receive a message letting you know it is done. Give it a few minutes, then make any edits/changes for the reason why you needed to remove the year end.
9. After changes have been made, follow the same steps to close the year end.
10. Optional Step: If using the Connector to populate the data into Greenshades, you'll need to run the manual sync for W2 data after the year end has been closed again.
Regards,
Vivian
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