BTerrell Group Blog

That time of year again!

With the end of the calendar year (and possibly your company’s fiscal year) right around the corner, BTerrell Group wanted to remind you of a few year-end activities you don't want to forget:

 Order Entry:

• Clear statistics and sales history that you do not need.

Purchase Orders

• Clear statistics and purchase history that you do not need.

Project and Job Costing

• Nothing to do!

Inventory Control

• Do an inventory count.
• Post a reconciliation worksheet to adjust for any variances found in the inventory count.
• Clear statistics and expired contract prices that you do not need for drilldown.

US/Canadian Payroll

• Print reports required by statute for calendar year end.

Accounts Receivable

• Clear sales tax tracking information that you no longer need.
• Clear statistics that you no longer need.
• Run Year-End to clear activity statistics, recurring charge amounts, invoices paid and Days to Pay counter.
• Print the Customer List and customer statistic reports to verify the transfer of data to the previous fiscal year.

Accounts Payable

• Clear purchase tax tracking information that you no longer need.
• Clear statistics that you no longer need.
• Run Year-End to clear activity statistics, recurring payable amounts, invoices paid and Days to Pay counter.
• Print the Customer List and customer statistics reports to verify the transfer of data to the previous fiscal year. 

General Ledger 

• Run Create New Year to transfer balances in the income and expense account to retained earnings and enter opening balances for the new year.

Usually, you will not want to complete any year-end procedures that compromise drill down capabilities. Accordingly, we have removed those procedures from the above list.

And order those W-2s. 

Other Important Dates

January 31, 2013: Deadline to supply each employee a completed Form W-2, Wage and Tax Statement, and each 1099 vendor a completed Form 1099

January 31, 2013: Deadline to file Form 941 for fourth quarter 2012

January 31, 2013: Deadline to file Form 943 and Form 944 for 2012

February 28, 2013: Deadline to file all the Forms 1099 you issued for 2012, along with Form 1096, Annual Summary and Transmittal of U.S. Information Returns (April 1, 2013, if you file electronically)

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