Payroll year end 2024 checklist

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1. Take a backup of your Sage Payroll data:

• We recommend you back up your data before you install updates

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2. Download and install the year end update:

• To make the installation of your year end update as easy as possible, you’re automatically prompted to download and install it when it’s available. As it contains legislation for both 2024 and 2025, you can download and install the latest version straight away

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3. Check if you have an extra pay period:

• If you’re paying your weekly, fortnightly or four weekly paid employees on either Monday 30 December or Tuesday 31 December, you have an extra pay period. You process your payroll as normal on this date. Check if you have an extra pay period

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4. Process the final pay period of 2024:

• Before you can complete the tax year, you must process the remaining pay periods of 2024, as usual.

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5. Validate your data:

• You can validate your payroll data at any time during the tax year to check your payroll data for errors. It’s particularly useful when you’re preparing to complete the tax year

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6. Run your year end reports:

• You can run a selection of Year End reports including the ASC35, ASC60 and Employment Detail Summary reports. Print your Tax Year End Reports

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7. Create and open the 2025 tax year:

• Once you complete your payroll processing in the 2024 tax year, set up your software for processing in 2025

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8. Set up the new tax year calendar:

• To help organise your company’s payment dates for the new tax year, you must create the payroll calendar. Set up your software for processing in 2025

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9. Set period one of the new tax year:

• Before you can start to process your pay for your employees, you need to set the pay period. Set up your software for processing in 2025

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10. Enable Central Statistics Office (CSO) reporting:

• If the Central Statistics Office (CSO) selects your company for surveying and you must set up Central Statistics Office (CSO) reporting

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11. Assign ASC settings to your employees, if applicable:

• If you have employees that are liable for Additional Superannuation Contribution (ASC) deductions in 2025, you must assign the appropriate ASC settings within their records. How to assign Additional Superannuation Contribution (ASC) settings to employees

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12. Clear your financial year end balances:

• This optional year end task involves clearing any deduction balances that you don’t want in your new financial year. Clear your financial year balances

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13. Validate your data:

• We recommend you validate your payroll data a second time

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