Question 1: I have a payroll to complete on Dec 30th, with a cheque date of January 2nd. Does that mean i can close out the year prior to dec 30th, or does this need to be done after processing payroll on Dec 30th? Or in the new year on or after the cheque date.
Answer 1: Generally, pay dates in 2025 should take the 2025 tax tables. We recommend to install the new version and close the 2024 year before running your Jan 2nd payroll.
Question 2: When did you say the update for the tax tables will be ready for 2025?
Answer 2: We are expecting to release the new version 7.00 of Acclaim by the end of the week, but we will be sending out a formal email to all customers when it is ready.
Question 3: In the past, we uninstalled Paymate on the PC the reinstalled Paymate. Is this necessary?
Answer 3: It is not absolutely necessary although our formal documentation indicates this. You can install the new version over the old one, but please ensure that no one else is connected to the program at the time of installation.
Question 4: Are you going to send us the step-by-step year-end process as in the past years?
Answer 4: Yes, when we email out the webinar recordings, we will also send out the year-end documentation that we offer. You can expect this by the end of the week, but if you don't receive this, please contact Paymate Support.
Question 5: What about if the pay covers December and January?
Answer 5: As long as the pay date falls in 2025, it should take the 2025 tax tables, even if the pay period is in December or covers both December and January.
Question 6: If last pay date is before end of December, we wait until after last pay-date then update to 2025 patch and tables correct?
Answer 6: Yes, please complete all 2024 payrolls before installing version 7.00 of Acclaim and updating to the 2025 tax tables.
Question 7: Bi-weekly payment falls in Jan 2025 first week. Do we need to process Dec 30, 2024?
Answer 7: It is up to you and when you'd like it to be paid. If you pay it in January, it should take the 2025 tax tables (v7.00 of Acclaim). If you pay it in December, it should take the 2024 tax tables (v6.99 of Acclaim). Please ensure that you complete all 2024 payrolls before upgrading to the new version as you are not able to downgrade afterwards.
Question 8: Just would like to confirm that we need to upgrade to version 7.0 before closing the year?
Answer 8: That is correct. v7.00 of Acclaim contains the 2025 tax tables.
Question 9: Version 7 is the version with the new tax tables?
Answer 9: Yes, v7.00 of Acclaim will include the 2025 tax tables.
Question 10: Would you recommend to carry over terminated employees information to the new year?
Answer 10: It's a personal preference. If you don't have a huge list of employees or if you don't mind manually entering information again if an employee comes back, you don't have to carry it over.
Question 11: Do you think you can show us the "Uninstall" and "Reinstalling" of Paymate procedure. Honestly, this is always confusing for me to do every year.
Answer 11: You can go to 'Add or Remove Programs' in your computer to uninstall Paymate Acclaim. Then you can download and use the new .exe file from our customer portal to install the new version.
Question 12: Can you choose to carry over some and not all employees who have been terminated
Answer 12: Unfortunately you cannot pick and choose which of your terminated employees to carry over or not. You must carry over all, or none.
Question 13: Do you have to carry over all terminated employees or can you select just those you know are coming back
Answer 13: Unfortunately you cannot pick and choose which of your terminated employees to carry over or not. You must carry over all, or none.
Question 14: Do you recommend carrying over terminated employees?
Answer 14: It's a personal preference. If you don't have a huge list of employees or if you don't mind manually entering information again if an employee comes back, you don't have to carry it over.
Question 15: Do you recommend uninstalling Paymate Acclaim just before installing the new version?
Answer 15: Our formal documentation does mention this and you generally run into less problems in doing so, but it is not absolutely necessary. You can choose to install the new version over the old version if you wish.
Question 16: So there is no new addition to look out for in Y2025 like the Dental thingy that started in Y2024? Basically Y2025 will be a straight-forward payroll year.. i hope! :)
Answer 16: There are new boxes in the T4 for 2024, but nothing for you to physically do in Acclaim.
Question 17: If we are running Paymate on multiple computers do they all need to be upgraded at the same time?
Answer 17: Yes, they will need to be installed on the new version. If you install the new version on just one computer, the others will not be able to access the database in Acclaim as their software version is not updated to be compatible with the new database version. Please ensure that you upgrade all computers before accessing Acclaim.
Question 18: You say there are new boxes in T4. The T4 webinar will only be on Jan. 9th. So we cannot print the T4s if we are able to Close Y2024 prior to Jan. 9th?
Answer 18: The Jan 9th webinar is from the CRA directly that we have no affiliation with. Paymate's T4 webinar will be in mid- to late-January and you will receive a formal invitation in a couple of weeks via email. If you create and file your T4s earlier, then you can follow the same process as last year. The new boxes do not require you to physically do anything other than tax form box assignments (which you should be reviewing before creating T4s anyway).
Question 19: Should vacation be paid out for year end, or will it carry forward into the next year?
Answer 19: This is based on your company policy. If you prefer to pay it out, please pay it out before closing the year so it will be in 2024. If you prefer to carry it over, ensure that the payroll category is setup to carry it over and during the year-end process, it will ask you.
Question 20: I have two companies on Paymate. Do i need to update both?
Answer 20: If you have Acclaim on just one computer, then you only have to install the latest version once. However, you will have to close the year for both companies separately.
Question 21: Please see if I understood correctly:
1. Finish/Process Dec. 2024 payroll
2. Download Version 7.00/Acclaim
3. Under Year 2024, Close The Year
Thank you.
Answer 21: That is correct, but there is an additional fourth step: Update the tax tables under 2025! :)
Question 22: If I have 26 pay periods set for 2024 -last PP being Dec 16-27 - paid on Jan 2- as this is 2024 payroll should I set the date of payment to Dec. 31?
Answer 22: Generally speaking, yes. If the payment date is in January 2025, it should take the January 2025 tax tables, even if the pay period is in December or split between December and January. If the payment date is in December 2024, then it should take the 2024 tax tables.
Question 23: Just to clarify, my pay period is technically is for December 31, 2024. However, I have since completed my payroll for December 2024. Can I download and update Paymate now?
Answer 23: Yes, if all of your 2024 payrolls are complete (and you don't have any additional payments like bonuses), then you can download and install the latest v7.0 of Acclaim and update to the 2025 tax tables.
Question 24: I am sorry i logged in late, where can i find the steps for the year end?
Answer 24: An email containing the recordings of both webinars, as well as the year-end resources will be sent out to all Acclaim customers by the end of tomorrow. There is also a pinned discussion post in the Q&A section of Teams with these resources.
Question 25: If I process payroll for several companies, can I finish processing 2024 for some late on Dec 31st and install the new program to process other companies whose pay period is early 2025. Can I have both 2024 and 2025 running
Answer 25: No, it is strongly recommended to complete all 2024 payrolls for all companies before installing the new version and closing the year.
Question 26: We can print the T4s anytime after we Close The Year (2024), correct? Thanks.
Answer 26: Yes, after you close the year, from the Company Selection window, you can select the year 2024 to return to that year to create your T4s.