2009 year-end changes for Sage MAS 90 and 200 are limited to the 1099 portion of Electronic Reporting (formerly Magnetic Media Reporting) and form printing of W2s for New Jersey Family Leave Insurance Disability Insurance Private Plan Numbers. As a result, for Ohio Sage MAS 90 or Sage MAS 200 users, this years Year-End Closing procedures should be relatively straightforward. However, we have included 4 quick tips to ensure that your processes go smoothly and quickly!
1. Close Sage MAS 90 and 200 Modules in the Appropriate Order: The processing order insures that an application that writes to another application is processed first. Perform a full company backup before closing because year end processing can be reversed only by restoring a backup file. Modules are to be closed in the following order:
- Bill of Materials
- Work Order Processing
- Bar Code
- Purchase Order Processing
- Sales Order Processing
- Inventory Management
- Material Requirements Planning
- Magnetic Media
- Accounts Receivable
- Accounts Payable
- Job Cost
- General Ledger
For details, see What is the order of closing modules.
2. Don’t Forget about Tax Table Updates: IRS mandated changes are included in the tax table updates posted on Sage Software Online. Process the last Payroll before installing the update. For more information, see How to download and install tax table updates (TTUs).
When using Sage MAS 90 and 200 version 4.3 Federal and State eFiling and Reporting, you will no longer need to apply the IRD for 1099 or W2 printing, or Electronic Reporting. However, you will still need to download and install the Q1 2010 Tax Table Update.
3. Print W-2s Before You Start: W-2s must be printed before quarterly and year end processing. If not, create a copy of the company, and then print W-2s from the copied company. For more information, see How to print W-2s.
You are now able to access Federal and State eFiling and Reporting within the Payroll module to update W-2s or 1099s, and for updates to 1099s from the Accounts Payable module. Simply accessing eFiling and Reporting within Sage MAS 90 and 200 will prompt you to apply the online automated update.
4. Get Your Physical Inventory Counts in Order: First address the negative tiers for LIFO and FIFO items, then print the Physical Count Worksheet and freeze the on hand quantities. After the inventory is counted, enter the counts in Physical Count Entry, and review the variance report before updating the physical count data to General Ledger. For details, see How to process a Physical Count.
If you have any questions about Year-End closing procedures, please contact Socius’ Lori Ramsey at 800.587.6614 x3214.