Closing the payroll year is a mandatory step you must complete in Rise. This process finalizes all your payroll data for the current year and allows you to start processing payroll for the next tax year with updated government rates and frequencies.

This guide will walk you through the entire process, from confirming your final pay runs to updating your new contribution rates for the upcoming year.

A quick but important warning: The information you confirm in this process (remittance frequencies, EI rates, etc.) is sent to government bodies like the CRA and Revenu Québec. Entering incorrect information can result in significant percentage-based penalties for late or missed payments. Please double-check all information against your official government notices.

Step 1: Navigate to the Year-End Closing Page

1. From the main left-hand menu, click Payroll.

2. In the secondary navigation menu that appears, click Payroll again.

3. On the main Payroll screen, find the Year End section and click Year End Closing.

Step 2: Understand Your Year-End Checklist

The “Close Year” button will be grayed out until everything on this checklist is complete.

To activate the “Close Year” button, you must:

• Post all regular pay runs: All your scheduled pay runs for the year must be finalized and marked as “Posted.”

  • Pro-tip: If you have a final pay run in your schedule that you don’t intend to use, you can delete it from the pay schedule to satisfy this step.

• Post all ad-hoc pay runs: Any unscheduled or off-cycle pay runs must also be “Posted.”

• Confirm annual remittance frequencies and contribution rates: This is the most important task, and the rest of this guide will focus on it.

To begin this task, click the Review details link on the checklist.

Step 3: Review and Update Your Annual Rates

Important: These instructions apply only to updating remittance settings and contribution rates for the upcoming year during year-end closing. For mid-year changes, please contact support.

After clicking “Review details,” you’ll be on the “Review annual rates and frequencies” page. This form is divided into sections based on your company’s setup (e.g., you won’t see Quebec sections if you don’t have employees there).

You must review each section and update it with the new rates you’ve received from government agencies for the upcoming year.

1. CRA Remittance Settings

1. The system shows your current remitting frequency and Employment Insurance (EI) premium rate.

2. To update these for the new year, click Yes.

3. New remitting frequency: Select the new frequency (e.g., Threshold 2 (Weekly), Regular (Monthly)) from the dropdown. This information comes directly from your CRA notice.

   • ❗️Important: If your official CRA frequency is Quarterly, you must select Regular (Monthly) in Rise. Rise remits at a minimum monthly basis, which is a standard payroll practice.

4. New employment insurance premium rate:

   • Choose Use CRA standard rate if you use the standard EI rate.

   • Choose Use EI reduced rate if your company has been approved for a reduced rate (e.g., for a short-term disability plan) and enter the specific percentage from your notice.
     

Saving your changes

You can click Save as draft anytime to save your progress — useful if you’re still waiting for government notices.

Your changes won’t be finalized until you click Confirm remittance settings, which you should do only after verifying everything for the next tax year.

2. RQ (Revenu Québec) Remittance Settings

1. Click Yes to update your settings for the new year.

2. Select your New remitting frequency from the dropdown based on your notice from Revenu Québec.

   • ❗️Important: If your official RQ frequency is Annual, you should select Quarterly.

3. Workers’ Compensation Rates (WCB, WSIB, CNESST)

1. Click Yes to update your rates.

2. You can now:

   • Click Edit to change the rate for an existing region/department.

   • Click Delete to remove a rate that no longer applies.

   • Click + Add new rate to add a new rate for a specific region or department.

3. How to enter rates: This is a common point of confusion. Whether your notice says 1.48% or $1.48 per $100 of pay, you should simply enter 1.48 in the rate field.

4. Employer Health Tax (EHT/QHSF) Rates

• For Ontario (EHT):

  1. Click Yes to update.

  2. Enter the New Rate (as a percentage).

  3. Enter the Exemption amount. If you have no exemption, enter 0.

• For Quebec (QHSF):

  • The process for QHSF is different. You will not receive your new rate until after you file your RL-1 Summary in February of the new year.

  • Action Required: When you receive your new QHSF rate notice from Revenu Québec (in the new year), please contact Rise support. Our team will update this rate for you.

Step 4: Save or Confirm Your Changes

• Save as draft: Use this button if you are still waiting for notices from the government and need to come back later. Your changes will be saved, but will not be finalized.

• Confirm remittance settings: Use this button when you are finished and have entered all your final, correct information.

1. You confirm the information provided is accurate and up to date.

2. You understand that failure to provide accurate information may result in penalties from the CRA.

3. You understand that failure to provide accurate information may result in penalties from Revenu Québec.

Once you’ve checked the boxes, click Confirm remittance settings.

Step 5: Close the Year

After confirming your rates, you’ll be taken back to the year-end closing checklist.

The “Confirm annual remittance frequencies…” task will now be marked as complete.

Once your final pay runs for the year are also posted, all checklist items will be done, and the Close Year button will become active (it will turn blue).

Click the “Close Year” button.

That’s it! You have successfully closed the current tax year. Rise is now ready for you to process your first payroll of the next tax year. The new rates and frequencies you entered will automatically apply to all pay runs in the new year.

🙋‍♂️ Need Help?

We know this process can be stressful. If you have questions about a government notice or are unsure about any step:

• Click the “Our team can help—submit a ticket” link on the right side of the page.

• Contact the Rise support team via live chat or phone for any urgent matters.