Sage 100 ERP Newsletter
Year End – 2012
THE 2012 YEAR IN REVIEW
While there hasn’t been a major release of Sage 100 ERP since Version 4.5 back in 2011, there were still plenty of noteworthy changes in 2012. Along with a brand overhaul and new name for your business software, there were a range of enhancements, new features, and pricing options designed to give you better value for your investment. Here is a look at the year in review …
Sage Intelligence Enhancements
As the official replacement for FRx, it’s no wonder that Sage put so much effort into developing smart new enhancements for Sage Intelligence Reporting. New features such as the Report Designer Add-in provide additional drag-and-drop Excel financial formulas, while Reporting Trees allow you to create a visual model of your company’s reporting structure. To get the most out of your Sage 100 intelligence reporting tool, be sure to join The B.I. Community, where you’ll have access to demo videos, product specs, downloads, chat rooms, discussion forums, and much more.
For those of you still holding onto FRx, remember that the FRx Conversion Assistant was created to help you convert your FRx catalogues – including columns, formulas, row formats, and more – to Sage Intelligence. Please note that “official” support for FRx ends on December 31st, 2012.
Rebranding Officially Rolls Out
This year, Sage implemented a major brand overhaul. In an effort to consolidate dozens of product names and resources under the “Sage” brand, the names of many core accounting and ERP lines were changed. As a result, your Sage MAS 90 or MAS 200 software is now officially called Sage 100 ERP and comes in Standard (formerly MAS 90), Advanced (formerly MAS 200), and Premium (formerly MAS 200 SQL) versions – each designed to match the complexity of your business.
For more information, visit http://na.sage.com/sage-na/company/brand
New Shipping Solution
2012 also brought us SmartLinc, a new “Sage Endorsed” shipping solution for Sage 100. It provides all the benefits you’d expect from an automated shipping solution like real-time address correction, label printing, shipment tracking and history, and more – all combined with the benefits of being a cloud-based solution. That means there’s very little set up and you can access SmartLinc anywhere.
New Pricing Options
Taking a cue from the software-as-a-service (SaaS) business model, Sage is now providing Sage 100 customers with the option of subscription-based pricing. This pay-as-you-go option for Sage 100 ERP requires less up-front capital investment than the traditional user/module-based pricing. However, the long-term cost of ownership can potentially be more depending on the modules used and your specific business needs.
Feel free to Contact Us for more information about subscription based pricing options.
Need help figuring it all out? Be sure to contact us with any questions about upgrading, updating, or anything in between!
2012 YEAR END FAQ’S
For Payroll, Electronic Reporting, and 1099 Processing
To help you get a jump start on closing the year out smoothly, here are some of the most Frequently Asked Questions and answers related to Payroll, Electronic Reporting, and Accounts Payable.
When will the year end Tax Table Update (TTU) and Interim Release Download (IRD) be available?
The Q1 2013 TTU and IRD will be available for download from the Sage Customer Portal after December 20, 2012. Sage will update the TTU with any late-breaking legislative changes, as necessary, throughout January 2013.
Note: you must have a current Sage Business Care plan to access and download the TTU and IRD updates. If your plan has expired, please contact us to discuss support options. If you do not have a current logon, click “Sign Up for a Customer Portal User Account” in the lower portion of the screen.
Do I need to download the 2012 IRD for 1099 Reporting in Accounts Payable?
NO. For 1099 reporting, there are no changes so no IRD is required. If you performed 1099 reporting last year in Sage ERP MAS 90 or 200, you should have all the programs you need for this year.
Note: If you’re running version 3.74, 4.2, 4.3, or 4.4, 4.45, or 4.5, you must have the 2011 year-end IRD installed.
Do I need to download the 2012 IRD for W-2 Payroll Reporting?
YES. Install the 2012 year-end IRD. Before installation, be sure to check that you are running one of the following minimum requirements (or update your system first):
3.74, 4.2, 126.96.36.199, or 188.8.131.52 andyou must have last year’s IRD (2011) installed
Note: Product Update 8 (PU8) scheduled for late December 2012 will include the IRD so customers running 4.40 can install either the IRD or PU8 – but both aren’t required.
Do I need the 2012 IRD if I’m running Payroll in Version 4.5?
NO. All of the program changes included in the IRD are already installed on your system. However, you’ll still need to download & install the Q1 2013 Tax Table Updated (TTU) before processing your first payroll for 2013.
Do I need to download the 2012 IRD if I’m using Federal and State eFiling & Reporting?
YES – if you’re running Version 4.3 or 4.4 Federal and State eFiling and Reporting. NO – if you’re running Version 4.50.0 and 4.50.1 … however, you must install Program Fix PR4060-T.
When will the year end Federal and State eFiling and Reporting updates be available?
After December 20th, you can access the W-2 eFiling updates within the Payroll module and 1099 updates within the Accounts Payable module. Simply click “eFiling and Reporting” in Sage 100 ERP and the system will prompt you to apply the automated online update.
Will the 2013 TTU and Form 941 Updates be available for MAS 90 version 4.30?
Sage previously announced that as of December 31, 2012, they would no longer support updates, including the Tax Table Update (TTU), for Sage ERP MAS 90 version 4.30. However, due to the new 2013 Medicare requirements, Sage will provide Tax Table Updates for the 1st quarter of 2013 ONLY for version 4.30 so you can comply with the filing requirements.
Still Have Questions?
MORE 2012 YEAR END FAQ’S
Can I print financial statements for the next fiscal year PRIOR to performing year end processing?
YES. In the Fiscal Year field within the applicable report window, simply select the fiscal year to print. Do NOT manually change the fiscal year in General Ledger Options in order to print financial statements for the next fiscal year.
After year end processing, can I delete accounts that will no longer be used in the new fiscal year and still run comparison statements?
Information about prior fiscal years is stored by account number. These account numbers must be retained for as long as you require comparisons. Instead, you can set the status of an account to Inactive to prevent future postings but still retain the account number for comparisons. On the Main Tab in Account Maintenance, select Inactive in the Status field and click Accept.
Can I open a closed fiscal year to make General Ledger postings/adjustments?
YES. If you retained detail history for a prior fiscal year by entering the ‘Years to Retain General Ledger History’ field in GL Options, you can reopen the closed fiscal year and post to it.
To Post to a Closed Fiscal Year:
- Select General Ledger Setup menu > GL Options
- On the Main tab, in the Current Fiscal Year field, select the past fiscal year to reopen
- In the Current Period field, select the accounting period to post to and click Accept
- In General Journal Entry or Transaction Journal Entry, enter the transaction to the reopened fiscal year and period and update the journal entry.
- Reprint year end reports when you’re finished
- Go back to General Ledger Options Main tab and select the current year in the Current Fiscal Year field, and the current period in the Current Period field. Click Accept.
You’ve just re-opened the closed fiscal year, posted a journal entry, and reverted back (in step 6) to the current fiscal period and year. Note: Closed fiscal years can only be reopened in the General Ledger module.
IMPORTANT DEADLINES & TAX INFORMATION
- January 31, 2013 – Deadline to issue W-2, 1098, and 1099 forms to employees and independent contractors.
- January 31, 2013 – Deadline for filing quarterly payroll & annual sales tax returns.
- Depreciation and Section 179 Expense – The maximum Section 179 deduction for 2012 is $139,000. The phase out threshold for total of equipment and software that can be purchased is $560,000.
- Standard Mileage Rate – The standard mileage rate for operating an automobile for business use is 55.5 cents per mile driven throughout 2012. If you recall, this rate is unchanged from the mid-year adjustment from 51 cents to 55.5 cents that went into effect July 1, 2011.
“Fiscal Cliff” – Be Ready for Change
There are several laws – including temporary payroll tax cuts and expiration of tax breaks for small business – that are set to change at midnight on December 31, 2012. While lawmakers debate over the best way to handle this conundrum referred to as the “fiscal cliff”, one thing is certain … change is coming. So stay tuned for last minute tax rate changes and be prepared to update your Sage 100 ERP system throughout January 2013.
*Note: this information is intended as a helpful reference and is not to be relied on as qualified advice from a tax professional.
YEAR END CHECKLISTS
In this section, we provide a few year end closing checklists for General Ledger, Accounts Receivable and Accounts Payable to help ensure that all procedures are processed and in the proper order. Note: these modules all begin with the following 2 steps:
- Backup your AR/AP/GL files and label them as “prior” to Year End processing.
- Make sure the AR/AP/GL system date is set to the last day of your fiscal year.
- Ensure all invoices and cash receipts have been recorded for the current year.
- Apply finance charges to past due customers.
Note: If you answered “None” for “Finance Charge Computation Method” in A/R Set Up Options, then continue.
- Print statements for the appropriate customers.
Note: If you did not activate the “Customer Statements” option in A/R Set Up Options, continue to the next step.
- Select “Period End Processing” from the Period End menu, and choose the Full Period & YE Processing option.
- Select the reports you wish to print for the period. At minimum, we recommend Aged Invoice Report and A/R Trial Balance.
- Complete year end processing, backup AR files, and label them as “after” YE processing.
- Ensure all invoices and checks have been entered and updated for the current year.
- If your fiscal year coincides with the calendar year and your company issues 1099 Forms for vendors, then print, verify, and clear the 1099 Forms.
- Select “Period End Processing” from the Period End menu, and choose the Full Period & YE Processing option.
- Select the reports you wish to print for the period. At minimum, we recommend Aged Invoice Report, A/P Trial Balance, and Check History Report.
- Complete year end processing, backup AR files and label them as “after” YE processing.
- Make sure all activity and adjustments in modules integrated with General Ledger have been completed in the year to be closed.
Note: Check the Module Closing Order article on the next page of this newsletter.
- Print and update the Recurring Journals. Refer to the Recurring Journal section on page 99 of the GL Manual.
- Print the General Ledger Worksheet and log all essential adjustments.
- Enter adjustments in General Journal Entry. This includes entries logged on the General Ledger Worksheet (above).
- Print and update the Daily Transaction Register.
Note: The system will not allow YE processing to continue until after this step is performed.
- Enter budget revisions through Budget Revision Entry and update the Budget Revision Register.
- Go to G/L Options, confirm proper settings for these fields:
- Auto Budget Option field is set to the option you want to create next year’s budget
- Number of Years to Retain in Transaction History
- Number of Years to Retain in Summary History
Note: Setting number of years to “1” will not retain history – 1 means current year only.
- Make sure the Balance Sheet is in balance.
- Print the General Ledger Analysis (not “required”)
- Update & print Custom Financial Reports (not “required”)
- Select, modify, and update the Allocation Journal.
- Select Period End Processing, and choose the Full Period End Processing option.
- Select the reports you wish to print for the period. At minimum, we recommend Trial Balance, Standard Financial Statements, and General Ledger Detail Report.
- Complete period end processing, backup general ledger files, and label them as “after” YE processing.
Keeping Things In Order
A year end process in one module often writes data to another module. Therefore, the sequence in which you close your Sage 100 modules is extremely important in order to avoid the risk of damaging your data.
Important: Remember to back up your data before starting any module closing procedures. The only way to “reverse” year end processing in Sage 100 ERP is to restore your data from a backup.
- Bill of Materials*
- Work Order Processing*
- Bar Code
- Purchase Order Processing
- Sales Order Processing
- Inventory Management
- Material Requirements Planning (MRP)*
- Electronic Reporting/Magnetic Data*
- Payroll (Quarter-end processing)
- Accounts Receivable
- Accounts Payable
- Job Cost
- General Ledger
*Note: While there is no formal closing procedure in the Bill of Materials, Work Order, MRP, and Electronic Reporting modules, all transactions should be posted before closing the modules that follow (i.e. Distribution Modules and Payroll).
Keep in mind this is just a general guideline. If you own modules that aren’t listed above or have installed any third party add-on products or Sage Endorsed Solutions, please contact us to discuss specific closing procedures for your company.
4 Tips for a Successful Year End
- 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 2012 will NOT prevent you from entering transactions for the New Year.
- 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 2013.
- Check Your Version Number – Closing procedures can vary depending on which version of Sage 100 ERP 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 100 ERP
- 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.
We’re Here to Help!
As you begin year end closing procedures and prepare to start fresh in 2013, 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!
THE ROAD AHEAD FOR SAGE 100 ERP
Expected for availability via download in December, Sage 100 ERP 2013 (also referred to as Version 5.0) was designed to deliver a better value and customer experience. Let’s take a look at what’s coming in the newest release of Sage 100 ERP.
New Customer-Requested Features
You asked and Sage delivered! In response to Sage 100 customers like you, the upcoming 2013 release addresses many of your top enhancement and feature requests.
- Inactive Vendors & Customers – By setting Vendors or Customers to “Inactive” you’ll save important historical data while reducing clutter for faster searches and data entry.
- Expanded AP Invoice Number – Now accommodating up to 20 characters, you’ll now be able to use the same invoice number as your vendors for simple invoice matching.
- View Cleared Checks – View cleared check information from Accounts Payable Vendor Maintenance on the Invoices, Transactions and Checks tabs – without having to launch Bank Reconciliation.
- Post to Bank Reconciliation in Detail – You now have the option to post ACH transactions to Bank Reconciliation with full detail, including the unique electronic check numbers.
- Enhancements to Paperless Office – The power of Paperless Office is now available over public servers (with encryption), which includes Gmail, Yahoo!, AT&T, and Hotmail.
- New Inventory Maintenance Screen – Customer service personnel can see on-hand quantities, view pricing information, and drill down into item details – all from one screen.
Tighter Integrations, Improved Functionality
With every new release, Sage continues to expand your options for connected services and integrated add-on solutions. And this has never been truer than with this release.
Credit card processing will now flow through Sage Exchange which provides the platform for enhancements like card-swipe, recurring charges, mobile payments, and improved cash flow management and forecasting. The old Sage MAS Fixed Assets module with a maximum capacity of 1,500 assets will be replaced with Sage Fixed Assets – Depreciation with Reporting, which can process 10,000 assets or more. Lastly, tighter integration and enhancements will be rolled out for both Sage CRM and Sage 100 ERP Sales Tax.
Version Support Retirement Schedule
As a reminder, the following Sage 100 ERP version retirement schedule has been provided by Sage. Please note that support is no longer available for versions retired in 2012. Click Here for full support retirement details.
|Product Version||Support Retirement|
|Sage 100 Version 4.2||September 30, 2012|
|Sage 100 Version 4.3||September 30, 2013|
|Sage 100 Version 4.4||September 30, 2014|
|Sage 100 Premium (200 SQL) Version 4.45||March 30, 2012|
|Extended Enterprise Suite Version 1.3||September 30, 2013|
|Extended Enterprise Suite Version 1.4||September 30, 2014|
SAGE CRM SUPPLEMENT
The Road Ahead for Sage CRM
Expected for release any day now, Sage 100 ERP 2013 will also include a service pack update for your Sage CRM software (SP2 for Sage CRM Version 7.1). This update will feature new enhancements and tighter integration to your ERP application. Here’s a look at what to expect.
Multi-Company Sage CRM
Customers that are running more than one company or division can now map multiple Sage 100 ERP companies to a single Sage CRM database.
This provides decision makers with a consolidated view of all customer-facing activities while sales and customer service staff can move efficiently between all their customers and prospects across ERP companies and divisions.
Sage CRM Quick Order Entry
New Quick Order Entry screens will be available for Sage 100 Advanced and Premium ERP and can be used in addition to the current standard order entry screens.
This new quick order entry feature will enable ERP quotes and orders to be processed from within the Sage CRM interface without installing Sage 100 ERP on the sales person’s workstation, nor require an additional ERP user license to access accounting-related screens. A time and money saver!
Safe Upgrades for Sage CRM
New safeguards will be introduced that preserve your Sage CRM customizations when installing a CRM patch or service pack. If the Sage CRM SDK or in-product customization tool components were utilized to develop the Sage CRM customizations, they will not have to be reapplied following an update. This will streamline implementation of patches and service packs, and make them easier to apply.
Cross Browser Compatibility
Earlier versions of Sage CRM were primarily tested and optimized for Microsoft Internet Explorer. But with the Service Pack included in Sage 100 ERP 2013, Sage CRM now runs on your choice of Microsoft Internet Explorer, Mozilla Firefox, Google Chrome, or Apple Safari.
In addition to making Sage CRM compatible with any of the 4 popular web browsers, Sage removed dependency on Internet Explorer plug-ins (like Active X) in order to use features like Document Drop or Mail Merge.
Since Mail Merge no longer relies on Microsoft Word or the Active X plug-in, you can create HTML templates and merge data from within the Sage CRM user interface. What’s more, enhancements to Document Drop will allow you to drag and drop multiple files (i.e. customer correspondence or price lists) in a single task.
DON’T FORGET YOUR SAGE CRM LICENSE
Don’t forget that if you’re running Sage 100 ERP Version 4.5, Sage CRM is already installed and ready for you to use for Free.
All Sage 100 ERP customers on a current maintenance plan get a free Sage CRM license. So if your company hasn’t yet taken advantage of all that CRM can offer, maybe now is the time to give it a test drive. And be sure to contact us if you need help activating your free module and license or would like some training to get started.