Year End Close - Option to see 2 years of Payroll?

SUGGESTED

Good morning,

We process payroll weekly and the first payroll of the new year always seems to pose questions about the year end process.  I understand that we can close the payroll separately which will zero our EE balances and allow us to begin processing 2015 payroll.  My controller is wondering if we can have payroll for 2 years within the same company?  In my research on year end close, it doesn't seem like this would be possible - do we have to close 2014 payroll before starting 2015 payroll?