Dear AccountMate Clients,
Some clients have already closed their fiscal year, but it’s perfectly acceptable to wait a few days/weeks/months. You should have received a Newsline direct from AccountMate corporate with links to three videos which detail the process – but just in case you missed it, they’re repeated following:
- Closing the Fiscal Period in AccountMate 8 & 9
- Closing the Payroll Tax Year in AccountMate 8 & 9
- Closing the Fiscal Year in AccountMate 8 & 9
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:
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Lock your January 2014 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.
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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, don’t forget 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
2015 Supported Tax Forms
If you use AccountMate’s built-in Payroll module, you should have already purchased your tax subscription for 2015 and if it hasn’t already been installed then hopefully you’re on our schedule to do so. If not, then please contact us immediately.
The questions we get most often is, “What tax forms are supported?” – so following is a list, including the item number for the applicable form at AccountMateForms.com which are 100% compliant with 2014 IRS and SSA requirements. Please contact them to order now and avoid the end-of January rush!
Payroll Tax Forms
- W-2
- 2 up on plain perforated paper only for Federal filing (Items # 5207 & 5222)
- 4 up on plain perforated paper for Employer, Employee and State copies. Note: instructions on the back are not required (Items # 5209 & 5221)
- W-3 – only on plain paper for Federal filing
- 1099-MISC
- 2 up on red pre-printed form for Federal filing (Item #5110)
- 4 up on plain perforated paper for Payer, Recipient, and State copies. Note: instructions on the back are not required (Item #5221)
- 1096 – only on red pre-printed form for Federal filing (Item #5110)
AP 1099 Forms
- 2 up on red pre-printed form for Federal filing (Item 5110)
- 2 up on black pre-printed form for Payer, Recipient, State and “Copy 2” (Items # 5111 & 5112)
Free Vertical Solution Webinars
AccountMate attracts some of the best-of-breed vertical solution applications, which integrate with AccountMate’s already award-winning product lines to provide a comprehensive front-to-back office solution.
Learn why more trading partners require EDI as the only method of exchanging critical business documents, such as POs, shipping and packing information and invoices. With SPS Commerce, integrate once to the industry’s largest network of retailers, manufacturers, distributors, third party warehouses to keep costs and complexity low with this subscription option. Details of the product are at this link and the webinar is Wednesday, January 28th, at noon CST.
The leader in sales tax automation for businesses of any size, Avalara’s SaaS modeled AvaTax product provides a complete set of transaction tax compliance services, including sales tax calculation, exemption certificate management, returns processing and 1099 filing and reporting. More information at this link and the webinar is Wednesday, February 11th at noon CST.
Contact us at 877.2NEXLAN or nexlan@nexlan.com to register for any/all of the above – and let’s expand your system functionality to handle 2015!
Core Product Training Class
There’s lots of options for AccountMate training – the built-in context sensitive help files available by hitting <F1> anywhere in the system, online videos if you have an active software maintenance agreement, we’re available to come on site for training, and we receive LOTS of questions from our “Free 15 Minute Telephone/E-mail Support” offer – but sometimes nothing beats sitting in a classroom where you’re removed from the daily interrupts of your business, and it doesn’t hurt that it’s in Northern California’s Wine Country!
The next class is February 11-13, 2015 and will cover AccountMate\SQL V9.2 features and functionality of the core financial modules: General Ledger, Accounts Receivable, Sales Order, Upsell Management, Accounts Payable, Purchase Orders, Bank Reconciliation and Inventory Control.
Contact us for pricing and to schedule, plus travel recommendations.
Technical Tips
Versions: AM9 for SQL and Express
AM8 for SQL, Express and LAN
AM7 for SQL, Express and LAN
Modules: AP, PO, RA
Tip: For qualified new vendors you can set up the beginning balance for their 1099 transactions. To do so, access the 1099 Payment Types window by double-clicking the underlined 1099 Type field label on the <Vendor Maintenance> “Information” tab.
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Versions: AM 9 for SQL and Express
Module: AR
Tip: A new option for Update Customer YTD Sales Amount when closing last period of the fiscal year checkbox has been added to the AR Module Setup function. Checking this box does exactly what you would expect – automatically recalculating YTD sales amount when the last period of the fiscal year is closed!
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Versions: AM9.2 for SQL and Express
Modules: AP, BR, PR
Tip: Starting in AccountMate Version 9.2 for SQL and Express, you can now configure the check layout on a per bank basis for the Computer/Handwritten Check and E-Payment Check in the <Bank Maintenance> screen on the “Printing” tab.
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Versions: AM9 for SQL and Express
AM8 for SQL, Express and LAN
AM7 for SQL, Express and LAN
Modules: PR, AP
Q: I need to refund an employee garnishment amount without effecting the employee’s net pay. How do I record this in AccountMate?
A: Post an AP invoice for a one-time vendor. Perform the following steps:
- Access the AP Invoice Transactions function
- Click the button beside the vendor lookup function
- Select <Yes> when prompted to create a one-time vendor record
- In the “Company” field, enter the employee name
- Complete the other information (Address, AP Invoice #, Date, Amount, etc.)
- Be sure to populate the “Apply Amt” field with an amount equal to the Invoice Amt.
- Click <Save> and then in the <Post AP Invoice> window you will be prompted to immediately print the check.
Subscription Information
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