5 Tips for a Successful Year End

  1. Back Up Your Data – The first thing  you should do before beginning any year end processing task is to execute a complete back up of your Sage Accpac data.  You should also test the back up to ensure it was successful and the data is readable.  Without a reliable back up, there is no way to restore your system to its original state should you need to undo a significant year end processing mistake.  It’s also a good idea to make another back up after you successfully complete the year end close.
  2. Payroll Planning – Since year end Payroll is typically a significant undertaking, it’s a good idea to begin reconciling all of your payroll tax reports to the general ledger in early December. This gives you a chance to catch errors early and avoid filing an amended payroll tax return.
  3. Download Tax Table Updates – Download and install any necessary tax table     updates for your Sage Accpac system.  Tax table updates are available at the Sage online support center.  Prior to year end, it’s also a good idea to order necessary payroll and tax forms.  As an alternative to ordering forms, newer versions of Sage Accpac include the form headers and lines when printing  government forms directly from the system.
  4. Review Module Options – Each module is a little different with respect to year end processing.  Also, data may or may not be cleared out based on your system’s set up options. It’s a good idea to review module closing options and follow a module-by-module checklist of year end processing tasks to ensure that everything is performed in the proper sequence.
  5. Gather Information Early – Minimize the last minute scramble and stress of meeting deadlines by gathering important information before the end of the year.  This can include information from vendors, employee address updates, and other changes that may have occurred during the year.
    Contact us if you’d like to work together and develop a ‘Personalized Year End Processing Plan.’

Review Your Reporting Needs

The challenging global economy that prevailed in 2009 has forced some companies to look at their business in a different way.  For Owners and Managers that are responsible for assessing the health of operations, year end can provide a great opportunity to review your reporting needs and determine whether you have the right tools to make timely & informed decisions as conditions change.

If you find that the standard reports delivered ‘out of the box’ with Sage Accpac are not configured to meet your specific needs, let us know.  We’re   experts at helping you make the most of the     reporting tools you already own so you can enter 2010 armed with the knowledge, analytics, and detailed reports to make the right decisions and keep your business on course for success!

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