BTerrell Group Blog

Year-End Accounting Reminders: Tax Season Coming

Posted by Denise Torres on Wed, Dec 12, 2012

Tax time

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)


Photo Credit: Flickr Commons, (401K)

Tags: accounting, tax, tax update, taxes

10 Reasons Why You Should Learn About Cloud-based Software

Posted by Meredith Gooch on Wed, Aug 29, 2012

June 11, 2012 by Sage Business 

Web-based or cloud-based software and/services are all the rage right now, you hear about them everywhere. You are probably wondering how they can benefit your business and if any of them are a good fit for your organization. There are so many types of cloud services today it can be a bit of a daunting question to ponder.

 2012 6 11 cloud resized 600Keeping things very simple, here are ten reasons why I think you should learn more about cloud-based solutions and how they can benefit you and your business.

1. Save Time: Running a business is like having two or three full-time jobs. Because there are so many things to do – time – is one of the most valuable assets you have. In my experience, cloud-based software = substantial time savings.  From easy to access email to no longer having to install software updates, cloud-based solutions can really make an impact on efficiency.

2. Share and Empower: I have found cloud-based software to be much easier to access, use and share information across my team. My team is more empowered to do things that only I used to be able to do. That is a win/win!

3. Work from Anywhere: I spend a lot of time traveling, so being able to work, in addition to accessing my full email and calendar from my mobile device is critical. This allows me to be productive when I am waiting in lines, at restaurants, and anywhere really. The thing I love most is that when I am in the office; I am not playing as much catch up.

4. Keep in Touch: When I am traveling I like to keep in touch with my family via mobile video calling, but I also use it to stay in touch with donors and my team. Video calling adds a face to face interaction (which I am a huge fan of) in a very convenient way.  I recommend Skype, but there are a ton of great services.

5. Stay Safe: Your data is your lively hood. Backing it up in a secure environment is essential.

6. Learn More: Take time this fall to use a web-based survey tool to learn more about your customers. The information you gather can be used to build a more successful marketing plan. I recommend Survey Monkey because it is easy to use and the base product is free!

7. Build Awareness: I meet business’s all of the time that have not yet started an email marketing program. There are a multitude of web-based email solutions that will really make getting started easy. Consistent communication is key to building awareness for your business. So, what are you waiting for?

8. Network Online: Social is another blog post all together, but becoming social and networking online is critical to your businesses future. Make it your goal to join the top 3 by the end of summer. (Start with Facebook, Twitter and Linked In.)

9. Collect Mobile Payments: My new favorite web-based service is mobile payment processing. Check out my blog at to see why I love it so much, and check out Sage Payment Solutions mobile offering.

10. Get Current: Now is a great time to consider moving your old solutions to the cloud. Think about how your organization might benefit from moving your accounting, CRM or other application to a cloud-based solution.

Cloud-based solutions can really make your life easier and increase productivity.

Bridget L. Brandt

Director of Marketing

Sage Business

Have you considered Cloud-based software solutions for your organization? Sage offers a variety of deployment options for the software you've learned to depend on. Talk to us to find out how a hosted Sage environment can help maximize your return on investment!  

Contact Anthony Cox for more information at 866-647-2611 ext 127 or email

Tags: Accpac, ERP Accpac, accounting, CPA

Business Intelligence: Using Sage 300 ERP to make strategic decisions

Posted by Meredith Gooch on Fri, Jul 13, 2012

Business intelligence supports better decision-making by using technology for data mining, online analytical processing, querying and reporting to analyze data. Many companies struggle with managing the sheer volume of data they have to create useful reports in a timely manner. Access, Excel and other tools are often cobbled together to create monthly reports, but for large amounts of information, these tools aren’t adequate.

Recently, BTerrell Group began working with a client to consolidate information for the 30+ businesses they acquired over the years. The company used a complex system of Excel workbooks—some containing more than 60 pages—to create reports. By implementing Sage ERP 300 Insight, the company will significantly decrease the number of days it takes to close the books. Additionally, they will have greater control over their data and decision-making.

Implementing Sage ERP 300 Insight reduces the labor required to gather the data. The data-warehouse model allows for a customized system based on reporting rather than transaction or data input. The Insight model then aggregates the data, providing customized reports based on your needs.

Another business intelligence and data consolidation project involves a client whose monthly reporting took three people a week to complete. This client provides voluminous reports to stakeholders each month. Their situation is complicated by the allocation of costs and revenue based on professional specialties and a variety of payment structures. BTerrell Group’s implementation of Sage 300 ERP Insight will save this company time and thus money in compiling and disseminating reports.

BTerrell Group works with clients to determine which Sage tools best meet their needs and helps implement these solutions. We’ve found Sage 300 ERP Insight helps businesses by:

  • Reducing time and labor to prepare and analyze data.
  • Providing reports customized to client needs.
  • Streamlining complicated tasks based on client needs.

Call us to learn more about how BTerrell Group can help you make strategic decision with business intelligence and Sage ERP 300.

Tags: Sage 300 ERP, accounting, Accpac Intelligence

Hybrid Cloud Computing for Accounting

Posted by Meredith Gooch on Thu, Jul 16, 2009

The debate over business use of outsourced cloud computing versus on-premise computing has been rising to a higher decibel level. The main advantages of adopting cloud-based software are:

1. Minimal start-up costs in exchange for monthly or annual fees
2. Reduced infrastructure management
3. Web-based deliverability that provides access “anywhere”

On the flip side, the main arguments against cloud computing are the inability of firms to manage system risk and the potential loss of security for proprietary business data. A higher total cost of ownership over longer periods as well as concerns about the difficulty of migrating away from Software as a Service (SaaS) applications present additional roadblocks that prevent accounting from moving to the cloud.

Recently, SaaS options that extend functionality of on-premise accounting systems are beginning to appear. Such hybrid solutions combine the use of both on-premise and cloud-based software. For instance, Indicee, a Web-based application that interacts with reports from on-premise Sage Accpac ERP and other software, provides basic sales analysis and other business intelligence. So far, hybrid solutions do not completely eliminate concerns about data security, but any additional risk extends only to the outsourced applications. Undoubtedly, new software services provided via the cloud will continue to emerge.

- Chris Firra, Sr. Consultant

Tags: Sage Accpac ERP, accounting software, accounting, cloud computing, hybrid, cloud-based software, Indicee, SaaS, software as a service