Closing the Year in SMB 16 or 17 – W2 Tips

Closing the Year in SMB 16 or 17 – W2 Tips

We have been watching the most recent updates from Sage regarding the 2011 closing, specifically the payroll. The announcement seems to indicate that the payroll year cannot be closed in Sage Master Builder version 16.

You can close the year in Sage Master Builder 16! Many clients closed last year in version 16, so there is no problem from the software perspective. Sage is supporting the two most recent versions of Master Builder – 16 and 17. Version 16 is supported, and closing the accounting and payroll year works very well. The Aatrix reports are available for both versions 16 and 17, so all Payroll reports are available. (


See our October 10
^th
article

regarding the version of 16 required to extend Aatrix registration.

)

In January 2012, we expect new Federal Tax Tables, and perhaps some new State Tables. When these are ready, they will only be available for version 17. So, if you choose to close your year in version 16, and print W-2’s, etc., you will need to upgrade to version 17 in late January or so in order to have the most recent Federal Tax Tables.

The following table is provided by Sage listing the required tax forms for 2011 year end.

The Federal W-2 copy does not require the Red Ink paper, see KB9464.

You have the option to purchase the W-2 and 1099 paper with or without the pre-printed instructions on the back. If you choose the blank perforated paper without the instructions, you will need to print the instructions on a separate page (available in Aatrix), make copies, and send it with the recipient’s form.

Watch for our next update highlighting some of the changes in Sage Master Builder version 17. The change you’ll notice right away is that the familiar column icon is gone and there is a new logo.

posted by
cmw