2013 Year end and looking forward to 2014
#1 The importance of Budgeting
Does your organization produce budgets and track progress? As year-end approaches it’s a great time to resolve to create comprehensive budgets for 2014!
Why Budget and Forecast?
If you are only forecasting revenue but not budgeting expenses, you only have half the picture. By doing both, you can anticipate potential cash flow challenges, and make plans to manage through them. Also, budgets and forecasts are excellent management tools. They can help your team understand goals and be accountable for staying on budget and achieving revenue goals.
Sage 100 (formerly MAS90 and MAS200) contains enhanced budgeting tools to help you create and maintain a basic budget. For clients that need a much more robust, flexible and powerful budgeting tool, you might choose Sage Budgeting and Planning. Call us to discuss the best budgeting tool for your organization. For more information, please contact John Duvall at 502-429-6902 ext 225 or firstname.lastname@example.org.
#2 Module Closing Sequence
The order that modules are closed is very important. The period-end and year-end processes performed in one module often write data to another module, so to close modules out of order may cause damage to your data. Note: Before you begin any year-end closing procedure, ensure that you have a complete and verified back up of your data!
Modules should be closed in the following order:
Bill of Materials
Payroll (Note: You should make a copy of 2013 payroll before you close!)
*If you are running modules not on this list or a 3rd party product, there may be special considerations involved in year-end closing. Please give us a call and we will be glad to advise you on the best procedure for closing your Sage 100.
#3 Year-End Supported Releases
The current supported versions of Sage 100 (formerly MAS90 and MAS200) are:
Version 5.0 (a.k.a Version 2013)
#4 Soon to retire –
This is the last year that Sage will provide year end support for 4.40. The Q1 2014 Tax Table Update (TTU) and Year-End Interim Release Download (IRD) are the last ones that will be provided for 4.40. You will need to upgrade to a more current version of the software in order to receive future TTU’s or the 2014 941 form typically released at the end of the 1st quarter.
So, what if you are still on version 4.30 or older and need the TTU’s or an IRD? First of all, at the time this article was written we are not sure of any major changes to W-2’s, 1099’s, or efiling that will require an IRD. We will keep all end-users posted as information becomes available. So, if you find yourself still on version 4.30 and need to schedule an upgrade, please call Pam Scott at 502-429-6902 ext. 221 or email@example.com, to discuss your options. At this time we are unable to schedule any additional upgrades through the end of 2013, and your options will vary depending on if there is an IRD and the extent of the changes within the IRD.
If you are on 4.40, you should plan on upgrading early in 2014 to avoid the last second rush.
#5 – How to find your version number
Open your Sage 100 (formerly MAS90 & MAS) and click on “Help”, then “About” MAS and it will show you the version.
#6 – New this year – Payroll Year-End Tips Webinar
Once again, Oasis will be hosting a free Sage 100 Payroll Year-End Tips Webinar. During this webinar we will demonstrate how to create a historical payroll company, how to copy current payroll data to the historical company, how to print W-2 forms, any anticipated IRD’s, announce tentative release date for TTU’s, provide instructions on how to handle 3rd party sick pay, plus much more. This free webinar will 45 minutes in length and applicable only to supported versions of Sage 100. To register for one of our sessions – click here
#7 – New this year – Accounts Payable Year-End Tips Webinar
Once again, Oasis will be hosting a free Sage 100 Accounts Payable Year-end Tips Webinar. During this webinar we will discuss setting up of 1099 vendors, how to utilize the memo attachment feature in Vendor Maintenance to track W-9’s, how to recreate 1099 history when necessary, and printing 1099 MISC, INT, and DIV forms. This free webinar will 45 minutes in length and applicable only to supported versions of Sage 100. To register for one of our sessions – click here
START PREPARING PAYROLL YEAR-END!
Now is time to start preparing for payroll year end. Based upon prior history, we anticipate the release of the Q1 2014 Tax Table Update (TTU’s) around the 3rd week in December and Year-End Interim Release Download (IRD’s) within that same timeframe. At the writing of this article, we are unsure if there will be an IRD for W-2’s, however now is the time to plan and schedule year end assistance. For those of you new to the Sage 100 payroll world, keep in mind that you cannot install the TTU’s until after you have printed your W-2’s. (Even if you created a historical company, you still cannot load the TTU’s until you have completed the printing of W-2’s.) So, if you would like assistance with creating historical companies and copying data, installing IRD’s, printing W-2’s and installing the Q1 2014, TTU’s please do the following:
Send an email to firstname.lastname@example.org with “YEAR END ASSISTANCE” in the subject line. Include the following information:
Company Name, Contact Name, Contact Phone, Contact Email
Last Payroll of 2013
First Payroll of 2014
When you anticipate printing W-2’s?
If you are required to do electronic filing (Federal, State, or Both) If yes for State, please list the
Do you use Aatrix?
Do you process Fringe Benefits?
Do you process 3rd Party Sick Pay?
Current version of Sage100 (MAS90/MAS200)?
How many companies do you have that process payroll?
After the information is received, a support representative will give you a call to schedule a time to assist you.
For any general year end assistance, not related to payroll, please send an email to email@example.com with “YEAR END ASSISTANCE” in the subject line and detail out the type of assistance you require and a desired timeframe.