|
Periodic
Processes
There are certain procedures
that you can perform on a periodic basis
that will insure that your accounting
software is current and accurate.
Monthly
|
¿ |
Run the Sales Tax Report and
purge monthly totals. |
|
¿ |
Perform Periodic processing in
Accounts Payable, Accounts
Receivable, and Job Cost (in
OSAS). |
|
¿ |
Post to the Master in General
Ledger at least monthly.
(Postings can actually be done
weekly, daily, or at any
interval that fits your
process.) |
|
¿ |
Run the General Ledger Journal
for un-posted transactions
written prior to the GL period
that you are currently working
in. Also run the General Ledger
Journal for un-posted
transactions that were written
to future periods. For example
since we are in May first run
the GL Journal for un-posted
transactions from Period 1-4,
then re-run from periods 6-12.
Make any necessary corrections
to these un-posted amounts |
|
¿ |
Run an Aged Trial Balance in
Accounts Payable and Accounts
Receivable and balance the
amounts to your General Ledger
accounts for Accounts Payable
and Accounts Receivable. |
|
¿ |
Reconcile your Bank Statement. |
|
¿ |
Run the Inventory Valuation
Report and compare to your
General Ledger Inventory
Account. |
|
¿ |
Run the Quantity Cross
Verification and Rebuild Item
Quantities in Inventory (for
OSAS only) |
|
¿ |
Process Financial Statements |
Quarterly
|
¿ |
Run Payroll reports for Quarter
End processing. Usually these
consist of 941, State
Unemployment, Employer’s Tax
Report, and Quarterly
Withholdings reports. |
|
¿ |
In OSAS perform Periodic
Processing to move to the new
quarter. In Traverse as long as
your workstation date is set to
the current quarter that you are
in there is no quarter end
processing except running the
reports listed above |
| |
Run the
earnings and deduction register
for the quarter. take the gross
earnings and deduct any 401K,
IRA, Retirement, and tax
deferred insurance and compare
these figures to your current
quarterly withholding.
|
|
¿ |
Purge Paid Invoices in your Open
Invoice Files for both Accounts
Payable and Accounts Receivable. |
|
¿ |
Delete Temporary Vendors and
their history |
|
¿ |
In TRAVERSE close any periods
you no longer want postings to
occur to. |
|
¿ |
Check error logs with your staff
and address issues. |
Top
A Look At
Traverse V11
During the month of May Open
Systems will continue to have free WebEx
demonstrations of TRAVERSE version 11.
Attendees to previous
demonstrations have commented on the ease of
use, expanded reporting capabilities and
value that they see in this much anticipated
version. This newest release will bring
TRAVERSE to the forefront with .Net
technology.
Each WebEx demonstration is
approximately one hour long starting at 11
am CST each Thursday from May 7th through
May 28th.
To register for one of these
WebEx demonstrations simply call or email us
with the Thursday in May that you would like
to see the demonstration and we will get you
signed up for it.
Spaces are limited so please
contact us as soon as possible so you can
be assured a place.
Top
Archiving
Solutions
With TRAVERSE version 10.5
certain forms like Accounts Payable Checks
changed from printing all into one file to
printing a separate file for each check
making it difficult for people to archive
all these individual files.
BroadGun is a pdf writer that
automatically appends separate reports into
one pdf file until you close that pdf. This
means you can also combine journals and
posting reports into one pdf file for
archiving purposes. It installs as a printer
so you can direct checks to print to that
printer through Traverse form printer setup.
This is a $29 solution. You
can learn more about it at
http://www.pdfmachine.com/
OSAS users can also make use
of this solution for archiving reports and
forms or for emailing reports to management
or Sales Reps, etc.
Top
Economic Stimulus & PR
By now you should have
received your updated Payroll Tax Tables and
941 Report.
These changes have already
taken place and employers were encouraged to
make the changes as soon as possible.
With tax changes as large as
these it would be wise to check through your
employee Tax Setup and make sure that the
Status of (M)arried or (S)ingle is correct.
Several calls these past few weeks regarding
either no taxes or small amounts of taxes
being taken out have turned out to be a M or
S being incorrect. For OSAS users make sure
if an employee’s status is S then the FEDS
table is being used, or if the employee’s
status is M then the FEDM table is entered.
FYI, if no Federal Tax table
is entered then the default is the FEDM
(married) table. The differences between
Married and Single are very large these days
and it is very important to select the
correct table.
Top
Bank
Reconciliation Tips
Your Bank Reconciliation does
not balance. Here are some systematic things
you can do to assist yourself in getting it
to reconcile:
w Run
the reconciliation report in detail to see
what your tagged disbursements and deposits
are. These totals must match your bank
statement’s cleared disbursements and
deposits
w Check
the box to ‘include un-posted transactions’
in case additional entries had been entered
since last you posted. You can also go and
post to the master in General Ledger for the
period you are reconciling.
w Look
through your cash account activity for the
month and insure that all source codes are
either AP AR BR or PA. If you see any M1
source codes that means your GL Cash account
may be correct but there is nothing for you
to tag in bank rec.
w Pull
out your last month Bank Reconciliation
report and make sure that the ending GL
balance on that report is still what your
ending balance for the GL Cash account is.
Something may have gotten thrown back into a
previous month that you have missed
w If
the amount is small, watch if for a month
and if it does not change then make a
correcting entry to your cash account.
Top
Posting Payroll
When posting your Payroll
ALWAYS make sure that the TAX LIABILITY
MONTH is set to the correct month. May is a
perfect example. You are probably processing
Friday, May 1st payroll while still in
April.
Double check that the tax
month will be 5 for May rather than 4 for
April.
This is especially true when
a quarter is changing.
Top
Inventory Price and Cost Changes
Did you realize that you can
quickly change prices for a group of items,
locations or product lines? The change can
be based off of Base, List or Minimum Price
and can be changed by percentage or dollar
amount. If you use Product Lines to signify
certain vendor’s products then when the
vendor has an across the board increase of
2% you can quickly adjust all your prices
upward 2%.
Likewise you can change the
costs of a group of items, locations, or
product lines. The adjustment can be based
off of Standard or Base cost and can be
changed by percentage or dollar amounts. Now
when your vendor does and across the board
increase in cost and you want your current
items to reflect this cost increase
immediately you can run this process and
update your costs all at one time.
This periodic process can
also be used to lower costs and prices
should there be a need for that.
If you are using Customer
Special Pricing that is based off of
Standard Cost, Base Cost, Base Price, List
Price or Minimum Price these will
automatically adjust to the new amounts. If
you are using No Base for your customer
special pricing and you want the special
pricing to reflect your new numbers you will
have to manually go into each Customer
pricing and change the No Base amount that
you will sell the items to the customer in
the future for.
Top
Join Open Systems in Las Vegas
at the Customer Excellence
Conference
The 2009 Customer Conference
will be held in Las Vegas this
year. It will be held on June
9th - 11th at the South Point
Hotel & Casino in Las Vegas, NV.
Customers who have attended this
conference in the past have
discovered new ways to
improve business processes. Some
reunited with friends they made
last year, networked with new
acquaintances, met one-on-one
with their Open Systems
authorized partner, and engaged
in lively discussions about our
software and services.
Conference FAQ
Session descriptions
Sessions Eligible for CPE
Credits
Conference Schedule
Top
Contact Us
Maple Business Software Consulting LLC
59113 Timber
Trail
Goshen, IN
46528
574-312-8056 - Office/Cell
email:
rvandaele@maplebusinesssoftware.com
|
