We just spoke with Sage Support regarding the email from them dated 11/29/11. We have confirmed that the entire year end processing
be done in version 16.
2011 is coming to an end
– Many of you have already started planning for the 2011 Year End. Several clients have scheduled their Payroll and/or Fiscal year end closing with Larry, Cathy, or Michelle. All clients need to be on Sage Master Builder version 16.x or 17.x to have support during the year end closing process. If you have anything older than version 16, please call the office to arrange the upgrade before the Year End close.
Closing the Payroll and/or Fiscal Year
– For the majority of our clients, Master Builder is used for payroll. The payroll has to be closed after the last check dated in 2011, and before the first payroll check dated January of 2012. Take a look at when you will run the last payroll of the year, including any owner checks for Personal use of Company Vehicle, Health benefits for S-Chapter Corporations, and/or final Retirement contributions for the 2011 calendar year. The closing has to be after all of these are done for 2011, and before you create any payroll records for any check dated January of 2012. If you have any questions, please call our office for clarification.
Upgrade to Sage Master Builder version 17
– The 2012 Federal tax tables will only be available from Sage for version 17. This is similar to what was done last year, so many of you have gone through this before. The 2011 Fiscal and Payroll years can be closed with version 16. Sometime in January 2012, Sage Master Builder will have to be upgraded to 17 in order to have the new tax tables available.
Payroll Tax Forms at Year End
– This year will be similar to last year. The W-2’s will be four-up on blank, perforated paper which can be purchased with or without the pre-printed instructions on the back. (These instructions can be printed on blank paper and included with the W-2.) Vendor 1099 forms can be printed from the software but will need the red-ink forms. For more details, check our recent email (
). Forms can be purchased through Sage or various Office Supply stores.
To Schedule, call the office at 630-850-9039 or email