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6. Year End Processing |
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6.1 Security Back Up |
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You should now take a Year End Security Copy of all axis diplomat Payroll Data using the 'Copy Data to Full Backup' function and selecting the ‘Retain backup indefinitely’ and 'Archive backup' options. We would advise you to keep the backup archive for a minimum of 3 years in case of query from HM Revenue & Customs. This is also important in case there is a problem with your end of year returns.
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6.2 Year End Processing |
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The system asks for confirmation that a security back up has been taken. The process then clears all accumulators to zero for the new tax year. The previous years’ details are retained in the Payroll Payment Archive File. The increase of 134 will be automatically applied to L suffix tax codes for all active employees, e.g. 810L will be amended to 944L. Any existing Week 1 / Month 1 tax basis flags will be cleared for active employees so that their tax codes are operated on a cumulative basis from the start of the new tax year. |
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