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Go to GL Options/Posting tab to verify that current fiscal year is set to the prior year. For example, if you are setting new fiscal year to 2013; current fiscal year on this screen should show as 2012
Define the number of years to keep history by fiscal set and transaction detail.
Print the GL Chart of Accounts in Detail – Long Form and verify that all accounts are setup correctly.
For example, make sure income accounts are setup as income accounts and balance accounts are setup as balance sheet accounts. Also verify that any accounts with activity are not inactive.
Print the Trial Balance report for year end and a second time for closing and adjustment periods. Make sure to print for all activity and exclude accounts with no activity
Print the GL Transaction Listing twice for current period assuming that it has already been printed for previous periods. Include Adjustment period and then exclude Adjustment period.
Print posting journal report for year end transactions. Indicate year-end posting sequence number where indicated. This will include the closing entries.
Ensure that any accounts
that were activated for year-end purposes are changed to inactive.
Run trial balance report for period one of the new year and ensure that it shows only opening balances. Print for all activity and exclude accounts with no activity.
Under Periodic Processing – choose A/P Year End icon
Use the Year End form to: Move vendor activity statistics for
the current year into the previous year, and zero the totals for the new year.
Clear year-to-date statistics from recurring payable records.
Reset to 0 (zero) the Total Invoices Paid, Number Of Payments, and the Total Days To Pay fields on the Activity and Statistics tabs, on the Vendors form.
Reset batch numbers, so that the next batch you create of all types will use number 1.
Under Payroll Government Reports – choose W-2s on Paper
Select 2 per page or 4 per page forms
Optionally choose a selection list Enter the range of employees on
which to base the report. Choose to sort by social security
number, employee number, employee name, or class.
If you selected to sort the W-2s by class, choose to sort by employee number or employee name. Then choose the class to sort by (Class 1, Class 2, Class 3, or Class 4).
Must fill in “State” field Reprint as needed to complete all
Select the Print 1099/1096 forms icon from the A/P Vendor Reports folder.
The 1099 Amounts report lists
the 1099-MISC amount for each vendor in your Accounts Payable system.
The 1096 Amounts report prints the summary for the 1099-MISC forms.
The 1099 tracking option must be enabled in AP Setup – transactions tab
The Vendor must have 1099 tracking enabled – invoicing tab
To print a test copy of a 1099 or 1096 form to check the alignment of the forms in your printer, click the Align button. You can repeat this step as often as needed when the printing destination is set to Printer.
Backup Assessment Service Offering Description Regularly scheduled backups of your accounting data is vital and important. Having the ability to recover from a disaster is critical. Equally important is testing the validating your disaster recovery plan by performing a restore and verifying your backups. A Net@Work Senior Business Analyst will meet with one Department (Accounting, Operations etc.) and review the following: Review and document current Accounting Data Backup Procedures Run a TEST recovery of Live Company data from an existing backup Confirm that the client has a good backup that can be recovered Identify bottlenecks and processes that can be improved Benefits and Value Proposition Customers will be able to: Have the assurance that current backup files can be restored Have the assurance that processes have been defined to maintain good backup sets Have the assurance that processes have been defined to properly restore data