1. General Ledger Closing – While it’s a good idea to close modules in a timely fashion, your General Ledger module can remain open for as long as you need while awaiting final processing in other modules or audit adjustments. A GL that’s still open for 2011 will NOT prevent you from entering transactions for the new year.
2. Payroll Planning – Even if your company is on a fiscal year, you’ll need to close out payroll at the end of the calendar year. 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. Note: As a reminder, all W-2’s and quarterly reports must be printed before processing the first payroll for 2012.
3. Check Your Version Number – Closing procedures can vary depending on which version of Sage ERP MAS 90 or MAS 200 you’re currently running. For Version 4.0 or above, do the following to identify both your version number and service pack: Select Help > About Sage MAS 90
4. Get All the Answers – We’ve compiled an extensive packet of checklists, closing procedures, and FAQ’s related to your core modules including General Ledger, Accounts Payable, Accounts Receivable, and Payroll. Contact us and we’ll send you the entire packet.
We’re Here to Help!
As you begin year end closing procedures and prepare to start fresh in 2012, be sure to contact us if you need assistance during this important time of year. As your software and technology partner, we’re always here to help!