What happens when you clear financial year end balances?
Description

When you clear your financial year balances, the software clears cost analysis figures and payment and deduction balances from your previous financial year, that you don't want to carry forward into your new financial year.

Let's look at exactly what this removes.

Cause
Resolution

What is cleared?

When you choose to Clear down Financial Year balances, this option clears the following from the Employee Details:

Pay/YTD tab

Non-Tax deductions for the Financial Year.

PRSI for the Employer Financial year.

Payments tab

Hours to date, Values to date and Nett Value to date.

Deductions tab

Balance for employee and employer. The Total Pension deduction values for employee and and employer don't clear down. 

 NOTE: Reducing balances don't clear down automatically, so they can continue on in the new year until they reduce completely.



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