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. Click
to Order
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. For
additional info please
review the
Knowledge Base article
on our web site.
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
Now that the
flu season has arrived, you
should be sure to regularly
clean your keyboard.
Turn off your workstation
and hold the keyboard upside
down. Spray "Canned
air" to clean between the
keys, being careful not to
get the spray too close to
the keyboard. (Look at
the recommended distance on
the can). Then
use a moist cloth to wipe
your keyboard clean.
Don't forget to wipe down
your phones as well.
Top
InterMicro Enhancements
Based on requests from
clients, we have created a
number of enhancements that
may also benefit you. We
will be making a section on
our website to support a
listing of these
enhancements. Each month we
will feature an enhancement
in our newsletter as well.
For more enhancements
available from InterMicro
visit
http://www.intermicro.com/products.html.
Managed
Shipping Interface
Are you
looking for a better way to
manage your shipping
process? This enhancement
integrates Traverse Sales
Order and your UPS or FedEx
shipping system. Order and
ship-to information is
passed to your shipping
system and tracking numbers
and freight costs are passed
back to the Sales Order
helping you save time and
money.
More Details
