Year-End reports

As the year-end process can be very involved, it is important to start looking at and adjusting your employee information as early as possible. Where possible, make your adjustments in November to ensure that all information is accurate and complete for your final pay submission at the end of the year.

Report Where to see it Report Name
Preliminary Year End Balancing Report

Go to the Payroll Reports page.Closed From the Reports menu, select Payroll Reports.

Available with your first pay dated in November.

Preliminary Year End Balancing Reports
Year End Balancing Report produced with last pay of the year with no tax forms requested

Go to the Payroll Reports page.Closed From the Reports menu, select Payroll Reports.

Available with your last pay in the tax year.

 Additional Reports
Tax Form run Year End Balancing Report Go to the Year-End Reports page.Closed From the Reports menu, select Year-End Reports. Tax Forms Package
Year End Balancing Report with year-end run Go to the Year-End Reports page.Closed From the Reports menu, select Year-End Reports. Year-End Totals - After Adjustments
  • generated with your first payment date in November
  • review to identify corrections or adjustments to be completed before Year End

  • to access the report, go to the Payroll Reports page.Closed From the Reports menu, select Payroll Reports.

  • included with:
    • the last payroll run of the year
    • any extra runs processed after the final regular pay of the year, and dated in 2024
    • each Year End adjustment run

  • to access the report from the final pay of the year or an extra run, go to the Payroll Reports page.Closed From the Reports menu, select Payroll Reports.

  • to access the report from a Year-end run, go to the Year-End Reports page.Closed From the Reports menu, select Year-End Reports.

  • generated when tax forms are requested

  • to access the report, go to the Year-End Reports page.Closed From the Reports menu, select Year-End Reports.

Required employee information

The following information is required for each employee, including those in a terminated status:

Note: An invalid or missing Social Insurance Number may result in a penalty imposed by CRA.

Changes to these items can be made within Powerpay until the last payroll dated in 2024 is submitted for processing. Instructions for making changes to year-to-date values can be found on the Prior to the First Pay of the New Year page.Closed From the Year End menu, select Year-End Adjustment Process > Prior to the First Pay of the New Year. Other employee changes can be keyed on the Employee Profile page.Closed From the Payroll menu, select Hire/Profile > Employee Profile.

After such time, if changes are required, proceed to the After the First Pay of the New Year page.Closed From the Year End menu, select Year-End Adjustment Process > After the First Pay of the New Year. for instructions.

Required employer information

  • Business Numbers (BNs) - Confirm these numbers are correct by comparing them to your CRA PD7A form (Statement of Account). PD7As are available online through CRA’s My Business Account.

    Note: If your BN(s) are missing or invalid, tax forms are not produced.

  • Province of Quebec Remittance Account Number - Confirm this number is correct by comparing it to your Revenu Quebec form TPZ-1015.R. 14.#-V.
  • EI reduced rates, with associated BNs, for 2024
  • Remittance Frequency Changes
  • Manitoba Remittance Number for Health and Post Secondary Education Tax
  • Ontario Employer Health Tax Number
  • Newfoundland and Labrador Health and Post-Secondary Education Tax Number
  • Northwest Territories/Nunavut Payroll Tax Number
  • Nova Scotia WCB account number and rate
  • Deferred Profit Sharing Plan Number(s)
  • Registered Pension Plan Number(s) - must be 7 numeric digits. Confirm the accuracy of these numbers by comparing them to your policy plans.
  • Total Worldwide Wages from 2024 for QHSF