Dear Clients,

The best thing about February is that we’re done with printing W-2s and 1099s. The second best thing about THIS February is the latest release of AccountMate/SQL, V12.1—and if you’re a direct client of NexLAN with an active Lifecycle agreement then your copy is already en route on a USB thumb drive, so run out and stand by the mailbox!

We provided a link to the “New Features Webinar” in our last NewsLine as it’s scheduled TODAY, February 1st, noon to 1:30pm CST. Of course it will be recorded and available in the customer portal in a day or two, but better to catch the live presentation when you can ask questions.

Your package will include complete details of the new features, and here’s an overview of some of them: 

  • New TaxJar Integration Module: Provides an interface for automated determination of customer sales tax rates in the AR/RMA/SO modules and uploading of information to TaxJar’s service for sales tax filings. Additional charges apply to activate this option.
  • Optional Automatic Address Validation: Ability to automatically validate customer and vendor addresses.
  • Validation of State/Province and Country Code: Fewer keystrokes and improved reporting for customer and vendor addresses.
  • Additional Check Auto-Signature Options: Print auto-signatures only up to defined check amounts.
  • Bills of Materials Amendment: Even when the BOM is currently used on a Work Order.
  • Adjust Cost on Specific Serialized Items: New function.
  • Payroll Enhancements:
    • Email check stubs to direct deposit employees.
    • Calculate deduction on net pay (gross pay minus taxes).
    • Additional detail on pay stub showing Paid Leave prior balance, accrual, usage and current balance.
    • Show pay rate in the Applied Payroll/Payment Report and Check Register Report.
  • And more!

One of the many things we love about AccountMate is they prioritize the addition of new features requested by users, and I recognize numerous items in the list above as ones clients have been asking for. So, if you have features you’d like, please contact us or hit <Help><Enhancement Request> to submit them—and we look forward to getting the latest version installed for you!

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In other news…

➤ My 8yo daughter has been in Girl Scouts for a few years and, since ordering cookies has gone fully digital for 2021, she’s made a video asking you to buy cookies from her if you don’t have a local Girl Scout. So, if you crave thin mints with coffee as much as I do, then check out her online Girl Scout cookie store and please select “Direct Ship Order” unless you’re close enough for her to pull her little red wagon to. Would be MUCH APPRECIATED by both of us! 

 We’ve received some great feedback on our new Meet the Team page on our website. If you haven’t checked it out and would enjoy a LOL, then don’t miss it.

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

February 8-22, 2021 Online Core Product Training for AccountMate/SQL

Still time to register for some or all of the AccountMate Core Product Training class, covering the core modules of System Manager, General Ledger, Purchase Orders, Accounts Payable, Inventory Control, Sales Orders, Accounts Receivable and Bank Reconciliation. Hands-on exercises are provided to facilitate the learning process and give attendees a chance to have one-on-one interaction with the instructor.

Totaling 38 hours over 11 days, this is a deep dive into the modules most all clients use and is valuable for both novice and experienced users. It’s priced at $2,500/attendee or $300/session—but don’t forget your annual free and discounted seats with your Lifecycle subscription.

The next session is scheduled for June 7-21, 2021 and registration is now open for that session too.

Click here for Course Overview, Course Outline, and Course Schedule—then reach out to us if you don’t see your favorite module listed, or if you’d like training personalized to your business processes and modifications and your schedule. We’re always standing by in the cornfields!

Gentle Reminder: Check for Payroll Tax Updates…

There’s regular updates throughout the year to payroll tax tables, already two since the initial release in late December 2020.

The current release is 2021.03 and you can check what version you’re running under <Help><About AccountMate> on the “Payroll” tab.

These mid-year updates are simple to perform as the process is automated, so if you see something less than 2021.03 then please hit <Utilities><Check for Payroll Tax Subscription Updates>.

Tech Note: Understanding Average Pay Days

The Average Pay Days is the average number of days within which a customer settles outstanding invoices, allowing you to evaluate each customer’s payment performance. Shown in the Avg Pay Days field in the Customer Maintenance ► Information tab, Average Pay Days can be used, along with the YTD Sales information, to assess whether more discounts and a higher credit limit will be granted to a customer.

For information on how this is calculated, please see Article #1158: Understanding the Average Pay Days Feature.

Technical Tips

Versions: AM12 for SQL and Express
AM11 for SQL and Express
AM10 for SQL, Express and LAN
AM9 for SQL, Express and LAN
AM8 for LAN

Module: GL

TIP: It is important to remember that closing the last period of the fiscal year must be done only when the company is ready to close the fiscal year in the General Ledger module. Closing the last period of the fiscal year in subsidiary modules will advance the current period to the first period of the next fiscal year. Any module with a current period that is in a different fiscal year compared with the current fiscal year in GL will not allow recording of transactions that post journal entries (e.g., AP Invoice Transactions, Ship SO, Print Check, etc.). The validation message, “Cannot continue with this function. General Ledger is in a different year.” is displayed each time you access the affected Transactions function.

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Versions: AM 12 for SQL and Express
AM11 for SQL and Express
AM10 for SQL, Express and LAN
AM9 for SQL, Express and LAN
AM8 for LAN

Module: GL

Q: Can I post prior year transactions after Fiscal Year-End Closing?

A: Yes; you can create a prior year-end adjustment entry using the Journal Entry Transactions function by selecting the Prior Year-End Adjustment journal entry type. Specify the appropriate Retained Earnings GL Account ID. If the Prior Year-End Adjustment option is disabled, then verify in the Posting Period Restrictions function that the prior year’s year-end adjustment period is not restricted for posting. Save the journal entry batch; then, post it using the Post JE Batch to GL function.

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Versions: AM12 for SQL and Express
AM11 for SQL and Express
AM10 for SQL, Express, and LAN
AM9 for SQL, Express, and LAN
AM8 for LAN

Module: GL

Q: I want to record a prior year-end adjusting entry; however, the Prior Year-End Adjustment journal entry type option is disabled in the Journal Entry Transactions function. How do I proceed?

A: Verify that the prior fiscal year’s year-end adjustment period for the GL module is not restricted for posting. To remove the posting restriction for the prior year’s year-end adjustment period, perform these steps:

  1. Access the Posting Period Restrictions function from the GL Housekeeping menu.
  2. Select the prior year in the Fiscal Year field.
  3. Unmark the checkbox under the GL column for the year-end adjustment period.

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Versions: AM12 for SQL and Express
AM11 for SQL and Express
AM10 for SQL, Express, and LAN
AM9 for SQL, Express, and LAN
AM8 for LAN

Module: GL

Q: After posting a prior year-end adjustment, do I need to re-close the fiscal year?

A: No, when you post a prior year-end adjustment that involves Income Statement accounts (e.g., revenues or expenses), AccountMate automatically adjusts the Retained Earnings account’s current year beginning balance. If the prior year-end adjustment involves Other Comprehensive Income accounts, then AccountMate automatically adjusts the current year beginning balance of the Equity for OCI GL Account ID assigned to each Other Comprehensive Income account used in the adjustment. If the prior year-end adjustment involves Balance Sheet accounts (e.g., liabilities or assets), then the balances are carried over to the current year.

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Versions: AM12 for SQL and Express
AM11 for SQL and Express
AM10 for SQL, Express, and LAN
AM9 for SQL, Express, and LAN
AM8 for LAN

Module: GL

Q: Why do I encounter the message, “xxx.xx amount has been transferred to Retained Earnings” when I perform Transfer Data to GL or Period-End Closing?

A: The message indicates that expense or revenue transactions recorded during the current period were assigned prior-year posting dates. In keeping with proper accounting procedures, these transactions are transferred to the Retained Earnings GL Account ID as adjusting entries. 

Subscription Information

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