sage 100 year-end closing - financial accounting 100 year-end closing colleen a. gutirrez, senior...

SAGE 100 YEAR-END CLOSING

Colleen A. Gutirrez, Senior Consultant II, BKD Technologies

WELCOME/INTRODUCTIONS

Colleen Gutirrez • 18 years of experience in technology consulting • Primarily distribution & manufacturing • 17 years of experience with Sage ERP 100 & 500 • Certified in Sage ERP 100/ERP 500 /Sage

Intelligence

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AGENDA

• Welcome/introductions • Sage ERP 100 version updates • Important facts to remember • Year-end checklist for payroll module • Files to back up & archive • Support resources • Other information • Questions & answers

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SAGE ERP 100 SUPPORTED VERSIONS

• * 4.50.0.0 – 4.50.0.7

• 2013 PU 1 – 8

• 2014 PU 1 – 4

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IMPORTANT INFORMATION

Tax filing year 2013 was the last year updates were provided for applicable supported versions for W-2 Form Printing & Quarterly 941 Form printing located on the Payroll > Period End menu, 1099 Form Printing located on the Accounts Payable > Reports menu & Electronic Reporting module (formerly Magnetic Media)

As of Tax Filing Year 2014, you are able to print &/or electronically file W-2, 941, 1099, plus 250+ signature ready State & Federal tax forms to plain paper. This is done within Sage 100 ERP integration to State & Federal eFiling & Reporting, powered by Aatrix, additional fees apply for eFiling services only

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SAGE ERP 100 IRD REQUIREMENTS

• 4.50 – PU 5 or last year’s (2012) year-end IRD installed

• 4.50 – SQL: must have PU 3 or last year’s (2012) year-end IRD installed

• 2013 PU 8

• 2014 PU 1–4

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YEAR-END PROCESSING IMPORTANT FACTS TO REMEMBER • In Payroll, there is NO Future Period Payroll module is based on a calendar year This means 2014 year-end processing must be performed

before 2015 payroll data can be processed

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Presenter

Presentation Notes

There are several important things you should know about payroll year end processing. Year End Processing is from the menu….

YEAR-END PROCESSING IMPORTANT FACTS TO REMEMBER • W-2s must be printed before performing Payroll Quarter &

Year-End Processing

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Presenter

Presentation Notes

But, what happens if you need to run your first 2015 payroll before you finish W2 for 2014?

YEAR-END PROCESSING IMPORTANT FACTS TO REMEMBER If necessary to run payroll in 2015 before W-2s are printed • Copy live company into archive company • Perform Payroll Quarter & Year-End processing live company • Process 2015 payroll in live company • Print W-2s from archive company

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Presenter

Presentation Notes

So if you are not going to have time to get your W2s completed before you need to run your first payroll in 2015, copy your live company into an archive company.

YEAR-END PROCESSING IMPORTANT FACTS TO REMEMBER • Tax Tables are system-wide files • Limits printed on W-2 forms are being read from tax table,

not employee master file. Therefore, 2014 W-2 forms will not print correctly if 2015 Tax Table Update is installed prior to printing 2014 W-2s

Once 2015 Tax Table Update is installed, rates & limits will be updated for all companies on computer, not just those closed for 2014

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Presenter

Presentation Notes

Read slide first, then: What this means, is that if you install 2015 tax tables before you print your W2s for 2014, your rates and limits will be wrong for your W2s. We recommend that you process your W2s as soon as possible after year end, then install the Tax Table Updates.

YEAR-END PROCESSING IMPORTANT FACTS TO REMEMBER • Copy payroll data into new (archive) company & print all of

your year-end forms & reports from this company • Do not perform year-end processing in archive company

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Presenter

Presentation Notes

We recommend that you …….

YEAR-END PROCESSING IMPORTANT FACTS TO REMEMBER • Payroll Year-End Processing in Sage ERP 100 can not be

reversed. It can only be restored from a current backup. Reopening a year is not allowed. Data for current year is cleared during Year-End Processing with exception of Perpetual History files

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Presenter

Presentation Notes

Payroll Year-End Processing can NOT be reversed. Read Slide We’ll talk a little later about all the changes that take place in the data files during the year end close in payroll. A lot of data is purged. You cannot just re open a year or period.

YEAR-END PROCESSING IMPORTANT FACTS TO REMEMBER • If on a calendar year with General Ledger & plan to close

other modules at this time, make sure to close all modules based on Sage ERP 100 Order of Closing rules

• If on a fiscal year with General Ledger, may not be closing any other modules at this time

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YEAR-END CHECKLIST

• Check payroll setup options Retain year to date check history Retain perpetual payroll history Current year & quarter

• Set payroll accounting date to 12/31/14 • Verify all checks/adjustments have been entered & updated • Copy payroll data to archive company

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Presenter

Presentation Notes

Moving onto Year End Checklist for Payroll. Before starting your year end processing in Payroll, you will always want to check your Payroll Set Up Options. Your current processing year should be 2014 Your current processing quarter should be 4. Review all your set up options, especially any retention information, as well as whether or not you want employee benefit limits to reset at year end. Once you’ve done all that. Set the Payroll accounting date to 12/31/14 Make sure all checks/adjustments have been entered and updated, including any manual checks or bonus checks that were written. Copy the payroll data to an archive company

YEAR-END CHECKLIST

• Print regular quarterly payroll reports At very minimum, print following

» Quarterly Tax Report » Payroll Check History Report » Quarterly Pay Period Recap » Earnings Report » Deduction Report » Quarterly Government Report » Quarterly 941 form » Benefit Accrual Report » Workers’ Compensation Report

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Presenter

Presentation Notes

Make sure you print any report that you would normally print as part of a quarter end process. FYI – all these reports, except the Quarterly Government Report, and the Quarterly 941 form can be printed through paperless office. We will be sending you a Year End Processing Manual, it will provide more detail about some of the reports. There are also helpful hints included in the manual, so you’ll want to look through it carefully. But at a very minimum, these are the reports you should run.

YEAR-END CHECKLIST

• Reconcile data from all reports Be certain to reconcile both QTD & YTD totals

• Make sure Electronic Reporting files, if applicable, are processed & created

• Back up your data to archive company • Perform Quarter & Year-End Processing in live company • DO NOT close archive company • Install Tax Table Updates only after W-2s are printed &

reconciled

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Presenter

Presentation Notes

OK, Just running the reports is not enough. You need to verify and reconcile all the reports, making certain that all QTD and YTD total reconcile and tie out. If you install Tax Table Update before you print your W-2, you annual limits will not be correct. More on this later. I checked with SAGE and the Tax Tables should be available around December 20th.

YEAR-END CHECKLIST

• Print & verify W-2 forms (Archive) Open Payroll|Period End|Federal eFiling and Reporting|W-2

History

Verify the year is 2014 and the 4th Quarter

Select required options, including box 12 codes & correct W-2 Form to Print

» If using laser or ink jet printer, be sure to choose either Laser Forms – 2 per page or Laser Forms – 4 per page

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Presenter

Presentation Notes

Next, you’ll need to print and verify your W2 forms. This is done through the payroll module, on the period end menu. Federal eFiling and Reporting Select W-2 History Click Accept and a Wizard will guide you through the rest. I will show you this latter.

WHAT HAPPENS DURING YEAR-END PROCESSING

• Quarter-to-date earnings set to zero • Quarter-to-date deductions set to zero • Quarter-to-date tax fields set to zero • Quarterly Tax Recap file is purged • Workers’ Compensation file is purged • Year-to-date earnings set to zero • Year-to-date deductions set to zero • Year-to-date tax fields set to zero

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Presenter

Presentation Notes

OK, Here’s where we talk about everything that happens during year end processing. This is just the first of 6 slides, so you will see that a lot is happening behind the scenes.


• Check History file is cleared • All terminated employees are purged, but caution Inactive employees are processed in same manner as active

employees Employee nonpension plan deductions with goals met are

removed

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Presenter

Presentation Notes

Possible Resolution:�During Payroll Year End Processing, any employees set to a Terminated status in Employee Maintenance are purged from Sage MAS 90 Payroll. Employees set to Inactive status in Employee Maintenance will be retained in the system during Payroll Year End Processing. Use caution, however, Note: The only exception to this are the Perpetual History files (PR_22 and PR_23). The terminated employee's historical information will still remain in the Perpetual History files. The employee will not be able to be selected for printing on the Perpetual History Report since he/she no longer exists in the Employee Master file (PR1). However, if the Perpetual History Report is printed for a range of employee numbers that include this employee number, then the employee will show on the report. There will be no name associated with the employee number or history. If Perpetual History is being retained, it is recommended to not reuse a previously terminated employee's number. Doing so will relink the previous employee's historical data with the new employee. If historical data is required to be retained, you may set the employee to Inactive or copy to a test company prior to Year End Processing. The test company can be used for historical purposes. Employees set to Inactive status in Employee Maintenance will be retained in the system during Payroll Year End Processing.


• Benefit accrual fields are reset for each employee (only if selected in Payroll/Setup/Payroll Options)

• Reset Balance at Year-End in Deduction Code Maintenance If checked, employee deduction records will be retained,

regardless of whether or not limit has been reached for deduction code

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Presenter

Presentation Notes

In Deduction Code Maintenance for Pension Plan Deduction Types there is an option for “Reset Balance at Year End” Select this check box to retain employee deduction records, regardless of whether or not the limit is reached for the deduction code. The amount at the Ded. Balance field is reset to the amount at the Ded. Goal field in the Voluntary Deduction Maintenance window in Employee Maintenance. This field is available only for pension plan deduction types that have a limit entered at the Standard Limit field.


• Reset Balance at Year-End in Deduction Code Maintenance If unchecked & deduction goal is met, deduction is removed for

employee If unchecked & deduction goal is not met, deduction is

continued until goal is met

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Presenter

Presentation Notes

Clear this check box if you do not want to reset the deduction balance at year end. Again, this field is available only for pension plan deduction types that have a limit entered at the Standard Limit field.


• Resets Pension Plan, Cafeteria Plan Deduction, Allocated Tips, Fringe Benefits, Non-Qualified Plan & Dependent Care Benefits fields to zero

• Current year is incremented by 1 • Current quarter is changed to 1

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YEAR-END BACKUP

Sage 100 5.x and MAS 90/MAS 200 vs 4.x • Back up entire MAS 90 directory if possible • Back up MAS_yyy directories where yyy = company code

(MAS_BKD, MAS_IOS, MAS_MMH, etc.) • Also back up Home, SOA, MAS_SYSTEM & MAS_USERS

directories • Label backup & store off site

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Presenter

Presentation Notes

Do you need to know how to back up your MAS 90 data? If you are any 3.x version, here’s what you do. You need to get all users out of MAS 90 / MAS 200. Our first recommendation would be to back up the entire MAS 90 directory. Sometimes, due to size of data files or backup media restrictions, this is not possible. In any 3.x version, the MAS 90 data files are stored in folders with the following naming convention. Xxyyy. In SAGE 100 5.x and version 4.x, the MAS 90 directory structure is different. You’ll still need to get all users out of MAS 90 / MAS 200 All the data files are now stored in a separate folder named MAS_yyy. Again our first recommendation would be to back up the entire MAS 90 directory, but if that is not possible, …..

HELPFUL HINTS

ORDER YOUR FORMS EARLY

Order W-2s, W-4s & 1099s early Avoid shipping delays

Order extra forms to allow for printing errors & problems

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HELPFUL HINTS

Print your forms on plain paper first

Use this printing to validate information & check alignment

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SUPPORT RESOURCES

• Information Center • Resources • Tutorials • Help Files • Sage Software Online • BKD Technologies

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Presenter

Presentation Notes

Information Center, Resources, Tutorials and Help files are all found directly from the MAS 90 menu. There is also lots of information on the Sage website. If you don’t know how to access the sage website, please contact your primary BKD Consultant. As always, BKD Technologies is here to support and help you with your technology needs.

CONCLUSION

• If you know you will be needing year-end assistance, call your primary BKD consultant to get time scheduled

• If you need to know who your primary BKD consultant is, email me & I will find out for you

• If you have any questions, please email me at [email protected] or Robin Reeder at [email protected]

BKD TECHNOLOGIES SUPPORT CENTER

• Sage Support Center 866.832.4253 or [email protected]

• Monday - Friday, 8 a.m. - 5 p.m. Central time

• BKD is closed the following days during holiday season

Thursday, November 27, 2014 Friday, November 28, 2014 Wednesday, December 24, 2014

• Everyone at BKD Technologies wishes you & your family a very happy holiday season!

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Thursday, December 25, 2014 Friday, December 26, 2014 Thursday, January 1, 2015

WHERE TO DOWNLOAD SLIDES & WEBINAR ARCHIVE

• Today’s presentation slides are available at www.SageERPInsights.com/webinars

• Recorded copy of webinar will be available on SageERPInsights.com next week

• You will be receive short survey following webinar Complete this survey so we may improve upon future webinars

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SAGE ERP INSIGHTS BLOG

• Check out our Sage ERP Insights blog at www.SageERPInsights.com

• Follow us on Twitter

@SageERPInsights

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Colleen Gutirrez Senior Consultant II 314.236.5248 [email protected]

sage 100 year-end closing - financial accounting 100 year-end closing colleen a. gutirrez, senior...

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