Closing Off Financial Year

[Vickidivoo]

I know I have to print off the payment summaries before I download the new 2010-2011 tax tables into QuickBooks, but do I also have to record the superannuation payments through the "Payroll Liabilities" feature before I can download the tax tables? In short, does every last little thing to do with the closing financial year have to be completed before I can bring the new tax table in? Thanks in advance for any help.

[qbqcca]

Originally Posted by Vickidivoo

I know I have to print off the payment summaries before I download the new 2010-2011 tax tables into QuickBooks, but do I also have to record the superannuation payments through the "Payroll Liabilities" feature before I can download the tax tables? In short, does every last little thing to do with the closing financial year have to be completed before I can bring the new tax table in? Thanks in advance for any help.

Note:
If you have any payroll to record for the prior period, do it before you import the new tables.

As long as your payroll for the prior year are properly recorded and complete, you can down load the new Tax Tables.

The Tax Tables are just that. Current Tax Tables for your Payroll Check calculations.

Hope I've answered you question?
Warren

[Vickidivoo]

Thanks for that, Warren. I was making a mountain out of a molehill, wasn't I?
You certainly did help me.