Year-end adjustments
What is a Year End Adjustment?
Year-end adjustments are entered to update year-to-date values for an employee's earnings, deductions, and/or employer contributions. In all instances year-end adjustments do not generate remittances to statutory and provincial taxes and health care levies. Dayforce does not remit or calculate the remittances due on year end adjustments. You must determine these amounts prior to entering adjustments.
If your adjustments require remittances, please refer to Record manual payments issued outside of Powerpay process. Manual payments must be recorded on or before your final pay of the year.
When can a Year End Adjustment be entered?
See below scenarios on processing Year End Adjustments.
Year End Adjustments Prior to Final Pay of Year
If you need to make year-end adjustments, a Year-End Adjustment Spreadsheet is available. To locate the spreadsheet, click here. For instructions to complete the spreadsheet, click here. Email your request to [email protected]. Requests must be received at least 5 days prior to your final input with a current year payment date.
Year End Adjustments After Final Pay of Year but Prior to First Pay of New Year
If you need to make year end adjustments after you have processed your last pay of the year, a Year-End Adjustment Spreadsheet is available. To locate the spreadsheet, click here. For instructions to complete the spreadsheet, click here. Email your request to [email protected]. Requests must be received at least 5 days prior to your first payroll input for the new year. There are time restrictions on this process and you will be advised if the update will have to wait until your first pay of the year is processed and a Year End Run will have to be initiated.
Note: If you requested your tax forms prior, you will need to review the output from your year end adjustments and request a rerun of tax forms. Charges will apply.
Year End Adjustments After first pay of New Year
Refer to Create a Year-End Run, Year End Runs can only be processed after first pay of the new tax year has processed.
Note: If you requested your tax forms prior, you will need to review the output from your year end adjustments and request a rerun of tax forms. Charges will apply.
Year End Adjustments do not:
• affect the previous year's data only. Entries made on a year-end run are not carried forward to the current year. For example, employee profile information.
• do not adjust an employee's Insurable Earnings History or Vacation Accrual.
• do not adjust employee target amounts in the current year for those deductions which have a target amount and where an adjustment amount has been entered. This also applies to garnishments that have remaining target amounts.
• do not generate remittances to CRA, other provincial agencies or third-party vendors.
• do not generate employee payments.
• can be closed without processing by your Customer Support Team. Once the run is submitted or closed it cannot be reopened.
• Year-to-date entries for earnings not previously reported on the register will not update the respective Provincial Medical totals, for example, EHT.