Tax season has officially been “over” for most people since April. Once they filed taxes, they pushed that headache-inducing procedure out of their minds, at least for a few more months. Businesses can’t dismiss tax season quite so easily. Not only do businesses need to file their own taxes, they also need to assemble information to distribute to employees so they can file their taxes.
Research shows that one out of every three small businesses spends 80 hours or more preparing for tax season. That’s two whole weeks out of the year spent on nothing but updating and checking the books to ensure you’re ready for tax season.
It doesn’t have to be that way this year. Sage 100cloud accounting software can make your end of year payroll tax calculations easier with a comprehensive package that helps small businesses manage their finances. It can save you an enormous amount of time preparing for payroll taxes, tax season, or even reconciling your books.
Is Now Really a Good Time to Switch?
Many business owners believe they must wait until January 1 to switch accounting software. If your fiscal year starts with the calendar year, you may think that it’s smarter to wait until the first of the year to change to new accounting software. Believe it or not, you can switch to a new accounting software at any point your business is ready.
Changing to a new accounting software doesn’t take long, and it’s not as difficult as you might think. Most accounting systems provide a method of downloading data files into a common file format such as CSV, tab- or comma-delineated data files. These files are universal and can be imported into most common accounting software packages, including Sage 100cloud. In just a few moments, you can download existing data and upload it into Sage, no matter what time of year it is.
Easy Payroll Tax Prep With Sage 100cloud
The payroll function module of Sage 100 ERP makes preparing payroll taxes, W2, and other payroll compliance needs much easier than spreadsheets or other accounting software. It automatically applies deductions and earnings, prints checks and vouchers complete with year-to-date earnings and tax information, and calculates employee and employer payroll taxes. Current federal and state tax tables are included. Best of all, it helps you quickly prepare quarterly and annual payroll reports and W-2 forms. It also easily connects to Federal and State eFiling and Reporting systems.
All of this is found within Sage 100 ERP. Not only can you manage all your business accounting and financial transactions quickly and easily, you can also prepare W2 forms, file your taxes, and update payroll and direct deposit records right from Sage.
Most small businesses have traditionally used spreadsheets for these processes. This includes manually downloading data and uploading to a government W2 system, checking and rekeying information every time. Additionally, each form must be filed separately. This process is rife with opportunity for error: A simple misskey could mean overpaid taxes, underpaid taxes, or leave an employee unaccounted for.
ASI Makes Sage 100cloud Accounting Software Easy
Let Sage 100cloud accounting software take all the guesswork out of payroll preparation by dramatically shortening the time it takes for you to file payroll, reconcile your books, and fill out the proper forms. Ready to connect your systems to Sage 100cloud accounting software? ASI is an experienced partner, helping clients select and implement the best software solutions to meet their business demands. If it’s time to move your old tax prep processes to a new software, contact us here and let’s get started today.