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Year-End 2015

by | Dec 1, 2015 | Affordable Care Act, Bank Reconciliation, Payroll, Year End

Dear AccountMate Clients,

Here at NexLAN, we can definitely tell year-end is approaching – having already had our first snowfall here and a low in the single digits, before Thanksgiving even! – so want to be sure everyone is prepared for what is likely the end of your fiscal year.

Following are three videos which detail the process:

Also, be sure the check out the documents on Year-End Closing Procedures available to registered users by logging in at http://accountmate.com/enduser (use your Support # as shown in <Help> <About>), then hit the link to “Year-End Closing Procedures” in the center of the available options to access a list downloadable documents specific to your AccountMate installation. These included writeups on how Budget Statements are Affected, Year-End Closing Tech Tips, Common Closing Errors, etc. and are only accessible to users with an active AccountMate software assurance agreement!

And it wouldn’t be a New Year Newsline without the famous Two things NexLAN recommends you do right now:

  1. Lock your January 2015 fiscal period!  Whether you’ve closed the fiscal year or not, now is the time when people typo the year in a transaction and accidently post it 12 months in history.  So head to <Housekeeping><Posting Period Restrictions> in General Ledger and check the boxes for each module to restrict posting in that period.  You can also use this during the year to keep transactions from hitting periods that have already been audited and approved – and you can always unrestrict the period if you really do have to post back.

  2. Photocopy your wallet!  I mention this every year, but since we always have new clients on distribution for our NewsLine it bears repeating.  Just as you back up the important information on your computer systems, take five minutes to get all the cards out of your wallet, line them up face down on a photocopier and hit the button – then flip everything over and make a copy of the backs for the important “lost card” call-in info.  This five minutes will save hours of effort if you lose your wallet during the coming year and is a good opportunity to review for any expired or expiring cards too.

In closing, always remember we provide “free 15 minutes telephone and e-mail support” (and don’t exactly sit around with stop watches), so we look forward to your calls and e-mails regarding year-end closing or any other AccountMate support we can provide!

Regards,

Kevin E. Stroud
NexLAN, LLC
https://nexlan.com

NexLAN Case Study: Innomed

We recently worked with AccountMate to publish a case study on one of our favorite clients (besides you of course! <grin>): Innomed, Inc. in Savannah, Georgia.

Innomed designs, manufactures, and distributes thousands of orthopedic surgical instruments and devices to a large customer base, a significant portion of which are international.

A long time AccountMate user, Innomed felt limited in their business and financial management system – until they came to NexLAN for support about two years ago and we upgraded their system, providing training in the built-in functionality they needed and providing customization specific to their needs for international language and labeling requirements.

As a result of Innomed’s ability to satisfy foreign market requirements, they have increased sales by 15% in the past year and, per Operations Manager Aaron Ingram, “Previously, inventory accuracy was 20-30% off.  Since we have added Lot Control, our inventory has been perfect in the last 12 months.”

Wouldn’t you like to see results like that?  You can with an optimized AccountMate system!  Read all about it here: Innomed Case Study

AccountMate’s Affordable Care Act (ACA) Reporting Program Enhancement Is Now Available

To assist you in meeting the new Internal Revenue Service tax reporting requirement, AccountMate has added this new utility to the Payroll module. It’s included at no charge as a benefit for clients who are on current AccountMate Lifecycle or Standard maintenance plans, and it’s available for purchase as well.

The data entry function will be available under Maintenance ► 1094-1095 Information Update menu option. The ACA Reporting Enhancement User Guide will be available in the AccountMate installation Documentation folder.

In partnership with Aatrix, AccountMate will support forms 1095-B/1094-B and 1095-C/1094-C to fulfill the end of the year reporting requirements. AccountMate provides the data entry interface and Aatrix will provide the reporting and filing requirements. Together with the final W-2/W-3 forms and the 2016 tax tables, the 1095-B/1094-B and 1095-C/1094-C forms will be made available in the first release of the 2016 Payroll Tax Subscription Update from Aatrix (sold separately – read last month’s NewsLine article on the 2016 Payroll Tax Subscription here).

Contact us to have the new utility added to your Payroll module and to get your Payroll Tax Subscription in place. Call 877.2NexLAN or email us.

“Your Dollars in the Bank” Webinar Recording Is Posted for Viewing

NexLAN recently hosted a short 21-minute webinar to demonstrate the benefits of the AccountMate Bank Reconciliation Module. If you aren’t using Bank Reconciliation, you’ll sure wish you were once you see it.  It helps you keep your cash in control, save time and reduce uncertainty:

  1. See what you have in your bank account to the penny, instantly, real-time.
  2. Have deposits and checks reconciled by just importing a file from your bank. It’s a huge relief when you stop having to reconcile items one at a time.
  3. Lower your risk for fraud. With positive pay, only checks on the list you output to your bank will get paid.

Bank Reconciliation is an easy-to-cost-justify, easy-to-use module.  If you missed the webinar or want to share it with a colleague, watch the webinar recording online.

Don’t hesitate to let us know if you have questions specific to your processes.

Technical Tips

Versions: AM9 for SQL and Express
AM8 for SQL, Express and LAN
AM7 for LAN

Modules: AP, PR, BR

Q: When I attempted to void a check, this message was displayed, “Cannot proceed. The selected check/e-payment has been reconciled.” I have verified that bank reconciliation has not been done for the period the check was written. Why am I getting the message?

A: The message is displayed if the check was marked for bank reconciliation. This is true whether or not the bank reconciliation has been finalized. If the bank reconciliation has been finalized, you can no longer void the check. If the bank reconciliation has not been finalized, you must unmark the check for exclusion from bank reconciliation before AccountMate allows you to void the check; to do this, perform the following:
Access the Reconcile Bank Account function in the Bank Reconciliation module.
Go to the Details tab, and select the UnMark Reconciled option.
Verify that the check you attempt to void is in the grid; then, unmark the checkbox that corresponds to that check.
Click Save. You may encounter an out-of-balance message upon saving your changes. You have the option either to immediately resolve the out-of-balance condition or to do it at a later time.
Void the check.

Note: In AccountMate 9.2 for SQL/Express and lower versions the message is “Cannot void this check. Check is already cancelled.” In AccountMate for LAN version the message is “Cannot void this transaction. Check/E-payment is already cancelled.”

■ ■ ■

Versions: AM9 for SQL and Express
AM8 for SQL and Express

Modules: SO, AR, PC

Q: Why do I get the message “Price < Minimum Price” when I create a sales order or an AR invoice for an inventory item assigned with 0.00 unit price? I did not set up a sales price for the item.

A: The message “Price < Minimum Price” is displayed if the following conditions exist:

  • The Pricing Control module is activated.
  • The inventory item is set to calculate its minimum price based on percentage or fixed amount above its cost
  • A cost is recorded for the inventory item

You can verify these conditions in the Inventory Maintenance ► Settings (1) or Settings tab.

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