Year-end processing resources for Sage 100 and Sage BusinessWorks software users.
As 2023 comes to a close, it’s important to make sure your accounting software is ready for the new year. DWD Technology Group and Sage Software offer a wide variety of resources to help make sure you are prepared for year-end.
Sage 100 Specific Year-end Resources
Sage 100 Year-end Tips Webinar presented by DWD
Mary Hildinger on December 6th gave a free two-part webinar where she reviewed all the things you need to remember when preparing for year-end. During this webinar Mary covered both general year-end closing as well as payroll specific items.
Part 1: Year-End Closing
Part 2: Payroll Specific Year-End Closing
Sage 100 Year-End Tips Recording – click here!
Sage 100 Year-end Processing Newsletter
In addition to the year-end tips & tricks webinar, we have a Sage 100 year-end processing newsletter to help you experience a smooth year-end.
The Year-End Newsletter Includes:
- Sage 100 Year-end Checklist
- Sage 100 Order of Closing Modules
- Checklists by Module
- List of Reports Needed for Year-end Processing in Sage 100
- Payroll Year-end Closing Resources
- Product and Tax Updates
Year-End and Payroll Tax Table Updates
Due to substantial changes to the tax code that materially impact the 2020 and future payroll tax years, the IRS released a new Form W-4. Sage 100 v2017 and earlier versions will not support the additional fields necessary to correctly calculate federal withholding taxes. If you are unable to upgrade to Payroll 2.x before needing to use the new Form W-4, you will need to manually calculate Federal Withholding for every payroll for employees who need to use the new Form W-4.
If you are using Payroll in Sage 100 2018, 2019, 2020, or 2021, make sure to install Payroll 2.23.0 to process your tax year 2021 tax forms and to enter payroll for the 2022 tax year. Make sure to install Payroll Tax Updates as they are offered. This only needs to be done from one machine each time an update is offered. Make sure that you’re using the correct State Unemployment Tax Rate before you process your first payroll dated in 2023.
To stay compliant with Payroll and AP 1099 form printing, you will need to upgrade to Sage 100 2020.5 or higher. The annual IRD should be available around 12/15/2022.
Aatrix year-end update is expected to be released mid-December. Note, at this time of year, it is quite likely that you will encounter multiple updates. Make sure to install each time an update is offered. These updates need to be applied on EACH computer from which Payroll or 1099 Tax Forms are processed.
Reminder about the 1099-NEC requirements changed in 2020.
If you are using Payroll in Sage 100 2017 or earlier, you will need to work with your Sage business partner to upgrade to Sage 100 2018 or higher (with Payroll 2.23.0) to remain compliant.
Sage Software offers a number of year end resources for Sage 100 users:
- Sage City year-end center: For help, guidance, and checklists specific to year end.
- Sage City Affordable Care Act center: For help, updates, and resources specific to the ACA. Tip: See the article How to set up ACA in Sage 100.
- Sage University: For helpful tutorials, videos, and training courses. Tip: In Search field type Sage 100 Period and Year End
- Sage Checks and Forms (or call 800-617-3224): To order your W-2, 1095, and 1099 forms. Tip: Before you order forms, please click link to read important information about new tax law requirements What forms do I use to print W-2, 1095,and 1099 forms
If you have questions or need assistance, please contact a DWD software consultant at 260.423.2414.
Sage BusinessWorks Specific Year-end Resources
BusinessWorks Year-end Tips Webinar presented by DWD
Mary Hildinger on December 13th for a free two-part webinar where she reviewed all the things you need to remember when preparing for year-end. During this webinar Mary covered both general year-end closing as well as payroll specific items.
Part 1: Year-End Closing
Part 2: Payroll Specific Year-End Closing
BusinessWorks Year-End Tips Webinar Recording – click here!
Sage Software’s BusinessWorks Year-end Center
Sage Software’s BusinessWorks year-end assistance center is packed full of resources to help you complete year-end processing with ease. The year-end center contains helpful tips including:
- How to complete payroll year-end processing
- How to process vendor 1099 and 1096 annual summary forms
- W-2 reporting and other W-2 related questions
- How to create a copy/archive company before closing the year
- Affordable Care Act resources
Visit the BusinessWorks Year-end Center.
Payroll Year-end Tutorial Video’s Provided by Sage
In an effort to help year-end processing go smoothly for BusinessWorks users, Sage Software has created a number of helpful instructional videos including:
- How to install Enhanced Tax Reporting
- Processing and Correcting W-2 Forms in Enhanced Tax Reporting
- How to process Third Party Sick Pay
- How to set up payroll deductions
- How to account for Fringe Benefits on the W-2
- Start the New Year right by Tuning Up your Payroll
Visit the BusinessWorks Year-end Center.
Important Sage BusinessWorks Year-end Items to Remember
Year-End is rapidly approaching and now is the time to make sure you have everything prepared.
Remember these key year-end items:
- Make sure you order or purchase the correct W-2/1099 forms.
- We recommend you complete a pre run of your W2s in early December to make sure you have the correct forms and reconcile payroll information verifying that W2s are correct.
- It is critical to back up your data. When completing back ups at the end of the year, back up after the last payroll and save. Also, back up before closing the payroll year and restore this back up (archive) to a new id such as PR2022.
If you have year-end questions, or need assistance, contact Mary Hildinger at 260.423.2414.