After processing the final period of the year we do a period end procedure to go into the first period of the next tax year. This process we call a 'Year End Procedure". Please click ITF16 Export for instructions on how to do the export file. You will need to email the ITF16 export file to Zimra before the 30th of January 2025.
To simplify this process we have created a 'Wizard' that automatically: - creates the next year`s periods - sets up the common public holidays for the next tax year
Before starting the year end procedure ensure that all necessary reports have been printed and exports prepared.
A final Year End Backup should be taken and stored carefully. This can be done before the Year End Procedure is commenced, although it can also be done during the Year End Procedure.
Instructions on how to do the Year-End Procedure
Year End Procedure To do the year end procedure: - Go to the 'Utilities', then 'Period End' menu options - On the pop-up screen select 'Yes' to proceed with the Year-End procedure
- It is necessary that you take a Backup if you have not done so already. If you need to do a backup place a tick in the 'Backup Payroll Now' checkbox. - Insert a tick on the check-box with text 'I have checked reports, taken a Backup and can proceed with Year End' - Then select 'Next' to proceed
- The check boxes for 'Create New Year Periods' and 'Create common public holidays' come already ticked, keep these. - By default the year end wizard adopts the period settings from the previous tax year. You can change the period settings if necessary. - Click 'Finish' to complete the Year -End procedure.
- After the process has finished click on 'OK' to view the payroll in the new year
The next step is to insert Tax Tables of the year 2025
Instructions on how to setup Tax Tables
To Insert the 2025 Tax Tables - Click 'Setup' , 'Tax' then 'New' - Enter the tax bands as shown in the image below
USD TAX TABLES
ZWG TAX TABLES Please note the communication from the Ministry Of Finance as provided for in Section 57 of the Finance Act, on the figures to be used for vehicles benefits, loan benefits, bonus tax free, deductible pension and tax credits.
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