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Review Formulas for the New Payroll Year

Anytime after the final pay of 2023 but before the first pay of 2024, you should review your earning, deduction, and benefit codes to confirm whether they have formulas that need to be updated. You may need to update a formula if it contains:

  • 2023

  • V13

  • V28

  • @DATE()

  • @DATEFROM()

  • The number of weeks in the year

  • Limit amounts, commonly found in pension formulas

  • Formulas based on pay periods

How to Review Your Formulas on Earning Codes

Step 1: Open Earning Codes in the Avanti Desktop Application.
By default, this can be found in Canadian Payroll >> Employer Payroll Tables.

Step 2: Select Print.

Step 3: Select Print Preview to display the Results.

Additional Information 
If Print Preview is not displayed, go to the Printer Setup tab and select Printer for Destination. Now Print Preview will show.

Step 4: Confirm whether the formula on the earning code needs to be updated. You may need to update a formula if it contains:

  • 2023

  • V13

  • V28

  • @DATE()

  • @DATEFROM()

  • The number of weeks in the year

  • Limit amounts, commonly found in pension formulas

  • Formulas based on pay periods

Step 5: If the formula needs to be updated, note the earning code.

Step 6: Repeat Steps 4 to 5 for each earning with a formula.

Step 7: Close Print Preview, then select Cancel to close the print.

Congratulations! You have finished reviewing the formulas for Earning Codes.

Update the Earning Code Formula

Step 1: Open Earning Codes in the Avanti Desktop Application, if it’s not already open.
By default, this can be found in Canadian Payroll >> Employer Payroll Tables.

Step 2: Select an earning code with a formula that needs updating, then select Modify.  

Step 3: Select the Formulas tab.

Step 4: Update the formula so it will calculate correctly for 2024.

If you are uncertain about any of your formulas, we’re here to help. Please contact Client Care for assistance.

Step 5: Add a note about what needs to be changed in the Comments field, if you don’t already have one. This will make updating the formula easier next year.

Step 6: Select OK to save your changes.

Step 7: Repeat Steps 2 to 6 for each formula that must be updated.

Congratulations! You’ve finished updating the formulas for Earning Codes.

If you’re unsure about any of your formulas, we’re here to help. Contact Client Care for assistance.

How to Review Your Formulas on Deduction/Benefit Codes

Step 1: Open Deduction/Benefit Codes in the Avanti Desktop Application.
By default, this can be found in Canadian Payroll >> Employer Payroll Tables.

Step 2: Select Print.

Step 3: Select Print Preview to display the Results.

Additional Information 
If Print Preview is not displayed, select Printer on the Printer Setup. Now Print Preview will show.

Step 4: Confirm whether the formula on the deduction/benefit code needs to be updated. You may have to update a formula if it contains:

  • 2023

  • V13

  • V28

  • @DATE()

  • @DATEFROM()

  • The number of weeks in the year

  • Limit amounts, commonly found in pension formulas

  • Formulas based on pay periods

Step 5: If the formula needs to be updated, note the deduction/benefit code.

Step 6: Repeat Steps 4 to 5 for each code with a formula.

Step 7: Close Print Preview, then select Cancel to close the print.

Congratulations! You’ve finished reviewing the formulas for deduction/benefit codes.

How to Update the Deduction/Benefit Code Formula

Step 1: Open Deduction/Benefit Codes in the Avanti Desktop Application, if it’s not already open.
By default, this can be found in Canadian Payroll >> Employer Payroll Tables.

Step 2: Select a deduction/benefit code with a formula that you noted needs updating, then select Modify.  

Step 3: Select the Formula tab.

Step 4: Update the formula so it will calculate correctly for 2024.

If you’re unsure about one of your formulas, we’re here to help. Contact Client Care.

Step 5: Add a note about what needs to be changed in the Comments field, if you don’t already have one. This will make updating the formulas easier next year.

Step 6: Select OK to save your changes.

Step 7: Repeat Steps 2 to 6 for each formula that requires updating.

Congratulations! You’ve finished updating the formulas for Deduction/Benefit Codes.

Need clarification about any of your formulas? Still have questions? We’re here to help! Reach out to Client Care.

Nice job; you’re all finished reviewing the formulas for Deduction/Benefit Codes. The next step in the year-end process is Updating Holiday Dates for the New Year.

 

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