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Avoid Overload—Prepare for
Y/E Now!
A TRAVERSE Technical Tip
There are things you can
begin doing now to assist you in Year End
processing, taking some of the burden off
the already stressful Year End and Holiday
time:
General Ledger
Run a Chart of Accounts to
include Clear/Consolidate. Check to insure
that each Revenue and Expense Account has a
Clear To account assigned to it. This
account will be your Retained Earnings (or
in the case of non-profit your Carry
Forward) General Ledger Account. Also insure
that each account has the proper Account
Type (Balance sheet accounts have Balance
sheet types and Income statements have
Income or Expense Types. You can change your
Account Type as long as what you are
changing it to has the same Debit/Credit
Type. Do NOT change a debit account to a
credit account, or vice versa, or you will
find yourself out of Balance.
Run a Trial Balance to insure
that all accounts are in balance.
Print your Financial
Statements Year to Date to double check that
the income stated on your Balance Sheet is
the same amount as the year to date on you
Income Statement.
Enter your General Ledger
Budgets for Next Year.
Accounts Receivable
Go over your Open Invoices
and clean up those little items that have
been hanging out there such as pennies left
on an invoice or a credit memo with a
different invoice number from the original
invoice that nets to zero but will not purge
because they are the same account number.
Split and re-apply can be a quick way to
correct this, or by entering positive and
negative cash receipts to these invoices and
credit memos.
Compare the Aged Trial
Balance (printed by period) to the General
Ledger to make sure you are in balance.
Purge Paid Open Invoices.
Accounts Payable
Look over your open invoices
to insure they look correct. With your next
check run select any invoices for a vendor
that net to zero that are still in the
Hold/Release (Open Invoice File), In
Hold/Release you can Pre-pay these invoices
and have them run out in your next check
run.
Research any negative amounts
on the report. These could be items that
were accidentally paid in a Period BEFORE
the invoice expense was entered.
Make sure you have all the
1099 information you need including Social
Security number and address. Order your
1099’s.
Inventory
Organize your Inventory for
easier counting.
Change status of any items
that are discontinued, obsolete, etc.
Delete any items you no
longer need or need history for.
Payroll
Run the Earnings and
Deductions Report and take Gross Wages and
remove any tax deferred deductions. These
amounts should appear on your withholding
reports under FWH SWH LWH MED and OAS.
Order your W2’s.
Prepare for amounts you may
need to add to W2’s manually such as GTLI,
Owner Insurance, Auto Use, Employer HSA,
non-taxable and taxable Third Party Sick
Pay, etc.
Top
Accuwage
2009
A TRAVERSE Technical tip
This FREE software is now
available from the Social Security
Administration.
To download the Accuwage 2009
software go to the website:
www.ssa.gov/employer/accuwage
Once the file accu09.exe is
downloaded double click on the icon and the
installation will automatically begin. When
completed a new icon will appear on your
desktop ‘accuwage2009’.
To test your 2009 W2’s
generate the W2’s and place them somewhere
easy to browse to. Double click the new
‘accuwage 2009’ icon and it will bring up
the software. Select the ‘button’ START
TESTING and the program will guide you
through selecting the W2 file that you
generated.
This program will test all
the W2’s and report back to you if there
were any errors found that would affect your
submitting the actual W2 Magnetic Media to
the Social Security Administration.
Top
AR Invoice
# or Customer ID
An OSAS Technical Tip
How many times have you
received a payment for an Invoice you have
generated but the check is not written by
any Customer that you can
identify.
To figure out who was billed
this Invoice Number go to Inquiry, Invoice
Inquiry and change the ‘lookup by’ from
Customer ID to Invoice Number. Enter the
invoice number and the Customer that was
billed will populate with the invoice. Now
you have the Customer ID to enter in Cash
Receipts.
Top
Inventory Analysis Reports
A TRAVERSE Technical
tip
This group of reports can
keep you in control of your Inventory. When
you set up Inventory items you can set what
the quantities for Maximum amount you want
on hand, the Minimum amount you want on
hand, the quantity point at which you want
to order, the quantity that you want to keep
on hand as Safety Stock and the Economic
Order quantity. Once these fields are set
you can use the reports found in Analysis
Reports to get the information you need.
Safety Stock Alert Report
lists all items that have
fallen below the safety stock level
Overstock Report
lists all items that are
above the minimum on hand quantity that you
set.
Slow/Fast Movement Report
analyzes fast and slow moving
items and shows the PTD and YTD quantities
sold, and sales and profit amounts for these
items.
Sales Analysis Report
prints the PTD and YTD
history of the item. Use it to analyze the
turnaround time for items sold during the
fiscal year.
Gross Profit Report
shows the gross profit margin
for each item in a
particular period.
Trend Analysis Report
shows the number of items
sold during a
particular period. Use this
report to analyze trends
with your inventory items
·
Inventory Movement Report
·
Item Status Report
·
Price Report
·
Valuation Report
·
Cost Variance Report
·
Transaction History Report
·
Lot/Serialized History Report
Top
Reprint Log
&
Activity
- Selections in All Postings
A TRAVERSE Technical tip
At the bottom of the
‘Posting’ function in each application are
two additional selections besides
OK and CLOSE.
The
REPRINT LOG will print the
posting for the last time that you posted
that application. This can be printed or
previewed. It is a exact reprint of the post
providing you with the Posting Run number
also.
The
ACTIVITY will present you with a
view of every posting you have ever
performed listing the Date and Time, the
Post Run Number, the User ID as well as the
COMMENTS if you used them.
Never used
COMMENTS?
By adding a description
(comment) when posting you can scan through
the
ACTIVITY and see these comments.
Having a description for each post makes it
easier to find the post you are looking for.
The Post Run number is listed also so you
can run the GL Journal by run.
Top
1099 Processing
An OSAS Technical Tip
If you knew when you set up a
vendor that you would be sending them a 1099
at year end you set them up with that
information. Since the first invoice you
have paid to this vendor the information has
been accumulating for 1099
purchases.
But, if you had set up a
vendor, paid them once or a few times and
then found out you will be sending them a
1099 you will need to adjust the 1099
figures for this year to include those
checks you wrote before this vendor was set
up for 1099 information.
You can manually enter the
PAID information into this vendor history
for purposes of 1099 reporting by going to
Accounts Payable, Set Up and Maintenance,
Vendors. Click on the HISTORY tab.
This will show FISCAL YEAR as
well as Purchases, Payments, Discounts
Taken, Discounts Lost, 1099 Payments. If you
are have already moved into the year 2010
when you are doing this then switch the
Fiscal Year back to 2009 for your 1099
reporting.
Go to the last field 1099
Payments and enter the amount you need to
add to what has already been processed for
this vendor since you set up the 1099. You
can simply use the Payments column for the
information you need to enter or adjust if
all payments would be reported for 1099’s.
Top
A Reminder as the
Flu Season
Approaches
This year not only do we have
the regularly anticipated flu's but we also
have the addition of the ‘h1n1
flu’.
With that said as you hover
over your own keyboard or the keyboard of
another employee think about all the hands
that have touched that keyboard. Think about
the sneezes or coughs that have been
transmitted from mouth to hand to
keyboard.
Besides getting your flu shot
and using hand sanitizer it may be a good
idea to clean your keyboards. Using what I
call ‘canned air’ turn your workstation off
and turn your keyboard upside down. Use the
canned air spray to remove particles that
have dropped down between the keys.
(Caution, do not spray too close or too
much, as you can ‘freeze’ the keyboard).
Then use a moist cloth to wipe your keyboard
clean. (Wiping down your phone does not hurt
either).
Top
Contact Us
Maple Business Software
Consulting LLC
59113 Timber Trail
Goshen, IN 46528
574-742-9241 - Office
574-312-8056 - Cell
574-975-2755 - Fax Number
email:
rvandaele@maplebusinesssoftware.com
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