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This article is intended to close the 2023 year, in preparation for 2024 payrolls. 

Note: This article only applies to our Hosted Acclaim customers. If you are not a hosted customer, you will need to update your software yourself, or request for a year-end service installation by completing and returning the year-end installation services form.

Year-End Checklist

  • Renewed your license for 2024
  • Reviewed your accruals (Employee Year-to-Date Report and opening balances)
  • Reviewed your accruals and deductions payroll categories if they reset at year-end 
  • Processed all payrolls for 2023
  • Reviewed your Employee Information (name, social insurance number (SIN), address, etc.)
  • Reviewed your Company Information (name, address, RCT #, etc.)
  • Reviewed your employer (EI) rate (Setup > Company > Edit > Taxation Information > "EI Rate")
  • Confirmed the name of your current accounting package (Setup > Preferences > Interfaces > "Accounting")
  • Made a backup of your data (Utilities > Backup Company Data)
  • Ensure that no other users are logged into Acclaim at the time of your upgrade 
  • Have contacted Paymate and provided a good time to schedule the upgrade of your software 

Note: If you are located in Québec (QC), you must install the new version of Acclaim with the new tax tables prior to closing off your current year. 

WARNING: Please note that it is strongly recommended to update the new dental box in the employee profile prior to closing the year. If this box is updated after closing the year, you will be required to update this box in both 2023 and 2024 data years, as the data years are independent and changes made in 2024 are not retroactive.

Closing Off Your Current Year

WARNING: When you are closing the year, the additional CPP2/QPP2 payroll categories will be added into the system. Acclaim will suggest payroll category codes to use for these new ones (e.g. 310 and 311), but if you are already using these payroll category codes for other categories, then you will receive an error message. Simply change the suggested codes for CPP2/QPP2 to codes that you have not yet used and continue the year-end close process as normal. 

  1. In Acclaim, navigate to Yearend > Close Year. 
  2. Read the details of each step of the process before clicking the "Next" button to proceed to the next step. 
  3. Note: Not all steps may apply to you.
  4. Review the options available and proceed to the next step by clicking "Next".
    Note: We strongly suggest to create a backup prior to closing the year. 
  5. If you are not skipping the backup, select your "Backup" location. Click "Backup" to complete the backup. 
  6. Select the payroll categories that you'd like to reset to zero for next year, then proceed to the next step by clicking "Next". 
    Note: If your deduction and accrual payroll categories do not have "Reset at Year End" checked in their payroll category setup, they will not appear in this list. Their values will automatically carry over to the next year. 
  7. The values for your employee and employer maximums and minimums are automatically entered. However, you can overwrite this value for year-end if needed. Once this is complete, proceed to the next step by clicking "Next". 
  8. Acclaim will prompt you to type in "CLOSE 2023" (the year you are closing). Enter this into the required field. 
  9. Once you've typed in the prompted text, click the "Process" button and then "OK". The 2023 year is now closed! 

Upgrading Your Tax Tables

  1. In Acclaim, log into your company in the data year "2024". 
  2. Navigate to Setup > Employees. 
  3. Click "Net Claim". A list of all the basic personal amounts for all provinces and territories will appear. 
  4. Click "OK". This will update you to the latest tax tables.

Review Your Payroll Groups and Pay Calendars 

  1. Navigate to Setup > Payroll Groups.
  2. Select a payroll group.
  3. Review the pay calendar to ensure that the pay periods and pay dates are correct.
    1. If your pay frequency is 'weekly', you may have 52 or 53 pay periods this year. Be sure to update the pay frequency if you have a different number of pay periods this year. 
    2. If your pay frequency is 'bi-weekly', you may have 26 or 27 pay periods this year. Be sure to update the pay frequency if you have a different number of pay periods this year. 
  4. Click "Save" to save your changes.
  5. Return to your list of payroll groups and repeat steps 2 through 4 for each payroll group you have.

Review Your Employees' Taxation Information & Verify Opening Balances 

  1. Navigate to Setup > Employees. 
  2. Select an employee. 
  3. Navigate to the 'Net Claim' tab.
  4. If you have any additional tax credits, it will be listed here. Make any changes as required. 
  5. Navigate to the 'Pay Card' tab. 
  6. Verify the opening balances for any accruals, such as vacation or sick. Make any changes as required.
  7. Click "Save" to save your changes.
  8. Return to your list of employees and repeat steps 2 through 7 for each employee. 

(Quebéc Customers) Updating QPIP and QHP Rates 

  1. Navigate to Setup > Payroll Categories. 
  2. Select your QPIP payroll category. 
  3. Update your QPIP rate. 
  4. Click "Save" to save your changes.
  5. Repeat steps 3 and 4 for your QHP payroll category.