The end of the year is around the corner, and we know this time can be busy and stressful. This article will help you make the transition to the new year on WorkForce as smooth as possible.
Please find below the steps on what you need to know to close off the year, and open the new year on both the Payroll and Leave modules. There is no particular order from which module to start.
- WorkForce Payroll: 3 things I need to do to close off 2022 and start processing 2023
- WorkForce Leave: 2 things I need to do to close off 2022 and start processing 2023
WorkForce Payroll: 3 things I need to do to close off 2022 and start processing 2023
There is no particular order from which step you start.
- Generate all year-end Payroll reports:
After processing and finalizing all your pay runs for 2022, the next steps are to start generating your year-end FSS Reports and Electronic Lodgement. Click here to know more.
- Initialise your payroll year for 2023:
After processing and finalizing all your pay runs for 2022, the next step is to initialize the payroll for the following year. Click here to know more.
- COLA Bulk Wage Adjustment (optional):
WorkForce Payroll allows you to enter the COLA Wage Adjustments for 2023 for all your employees in bulk. Click here to know more.
WorkForce Leave: 2 things I need to do to close off 2022 and start processing 2023
- Carry Forward or Pay any remaining Leave hours (optional):
Before starting the end-of-year Leave process, make sure there are no pending Leave requests; if there are, they must be approved first. The system will not allow you to start the end-of-year Leave process unless all pending leave has been approved, rejected, or deleted. Click here to know more about how to Carry Forward or pay any remaining Leave hours.
- Create your Leave Types for 2023 and assign them to all your employees:
At the beginning of the year, you must provide all employees with their leave entitlements accordingly. Please note that if you carry forward any Leave Type from 2022 to 2023, the Leave Type will be created automatically for 2023. Click here to know more about creating new and/or editing Leave Types.
- What should I do if I opened my Leave Types for 2023 before the end-of-year Leave process?
You may have created the Leave Types for 2023 before doing the end-of-year Leave process for 2022. This is a very common scenario since your employees might request to start booking their leave for the following year.
If this is your case, you can proceed normally with the end-of-year Leave process for 2022. The employees' Leave Entitlement for 2023 will then include the carried forward hours from the previous year.
- I have created my Leave Types, however, I want to provide a custom entitlement to one of my employees. What should I do?
Click here to know more.