Monday, November 2, 2015
Current Version Information
The latest version of Sage 100 Contractor is version 19.6.54, the release of which was announced on October 1, 2015. In addition to getting the most up to date tax tables, there are changes to the program to accommodate compliance with the Affordable Care Act.
Fall Maintenance
Look at the calendar! The end of the calendar year is fast approaching. There are a few things that Sage 100 Contractor users should start working on so that the end of the calendar year goes smoothly.
Affordable Care Act Compliance
Make sure you know what your responsibilities are for reporting and compliance with the Affordable Care Act. Check with your tax accountant and your benefits provider to get the best information about your responsibilities. Current versions of Sage 100 Contractor will generate the data and forms required.
Form W-2 Wage Statements
Make sure that your employee data is up to date. Verify employee addresses and social security numbers. Make sure your payroll account bank reconciliations are current and complete (and thus all payrolls are recorded), and investigate why payroll checks are still outstanding long past the time you would expect. Run the Payroll Audit (menu 5-3-7) and ensure that all errors are corrected. Discuss with your tax accountant what payroll calculations should be shown in which boxes on the W-2s.
I am a huge fan of the built-in Aatrix E-File feature, especially for W-2s. Aatrix will print and mail all employee copies of W-2s and will submit electronically the data to the Federal and State governments. All you need to print is the employer copy for your records and that can be printed to plain paper. With Aatrix E-File, you don’t have to order preprinted forms and special envelopes. The cost of the Aatrix E-File W-2s is so reasonable when you consider the cost of acquiring the forms, applying postage, and the manual labor of stuffing special envelopes, I strongly endorse E-Filing.
If you do not wish to use the Aatrix E-File feature, you should order now the forms and envelopes required from Sage Checks and Forms. DO NOT plan on getting your forms from Staples or other office supply stores as the paper (4-up perforated paper) and envelopes are not typical.
Form 1099 Statements to Recipients
Make sure that your vendor data is up to date. Obtain W-9s from all vendors so that you can verify addresses, federal identification numbers and legal status, such as corporations, individuals, limited liability companies, partnerships, etc. With this information, you can then ensure that each vendor has the correct 1099 Type assigned. Use report 4-1-1-61 Vendor 1099 Report to see the 1099 Type of each vendor and whether or not you have a federal identification number for those vendors to whom you may be required to provide a 1099.
The built-in Aatrix E-File feature also works for 1099s! As you might guess, I’m a big fan of this feature as well. The comments above about W-2 E-Filing also apply to 1099 E-Filing.
If you do not wish to use the Aatrix E-File feature, you should order now the forms and envelopes required from Sage Checks and Forms. DO NOT plan on getting your forms from Staples or other office supply stores as the paper (4-up perforated paper) and envelopes are not typical.
Affordable Care Act Compliance
Make sure you know what your responsibilities are for reporting and compliance with the Affordable Care Act. Check with your tax accountant and your benefits provider to get the best information about your responsibilities. Current versions of Sage 100 Contractor will generate the data and forms required.
Form W-2 Wage Statements
Make sure that your employee data is up to date. Verify employee addresses and social security numbers. Make sure your payroll account bank reconciliations are current and complete (and thus all payrolls are recorded), and investigate why payroll checks are still outstanding long past the time you would expect. Run the Payroll Audit (menu 5-3-7) and ensure that all errors are corrected. Discuss with your tax accountant what payroll calculations should be shown in which boxes on the W-2s.
I am a huge fan of the built-in Aatrix E-File feature, especially for W-2s. Aatrix will print and mail all employee copies of W-2s and will submit electronically the data to the Federal and State governments. All you need to print is the employer copy for your records and that can be printed to plain paper. With Aatrix E-File, you don’t have to order preprinted forms and special envelopes. The cost of the Aatrix E-File W-2s is so reasonable when you consider the cost of acquiring the forms, applying postage, and the manual labor of stuffing special envelopes, I strongly endorse E-Filing.
If you do not wish to use the Aatrix E-File feature, you should order now the forms and envelopes required from Sage Checks and Forms. DO NOT plan on getting your forms from Staples or other office supply stores as the paper (4-up perforated paper) and envelopes are not typical.
Form 1099 Statements to Recipients
Make sure that your vendor data is up to date. Obtain W-9s from all vendors so that you can verify addresses, federal identification numbers and legal status, such as corporations, individuals, limited liability companies, partnerships, etc. With this information, you can then ensure that each vendor has the correct 1099 Type assigned. Use report 4-1-1-61 Vendor 1099 Report to see the 1099 Type of each vendor and whether or not you have a federal identification number for those vendors to whom you may be required to provide a 1099.
The built-in Aatrix E-File feature also works for 1099s! As you might guess, I’m a big fan of this feature as well. The comments above about W-2 E-Filing also apply to 1099 E-Filing.
If you do not wish to use the Aatrix E-File feature, you should order now the forms and envelopes required from Sage Checks and Forms. DO NOT plan on getting your forms from Staples or other office supply stores as the paper (4-up perforated paper) and envelopes are not typical.
If you have any questions or concerns, don't hesitate to send us a note or give us a call.
Subscribe to:
Posts (Atom)
Posts
