Year End

Accounts Payable

 

NOTE: If the month is December (even though it may not be your fiscal year-end), you must print 1099s using the Export 1099 Data To Text option on the Accounts Payable Period End Processing menu and import the text files created by that menu option into Account Ability. The form to use is the standard miscellaneous income form. See step #2.

 

AddonSoftware recommends the third party 1099 form printing software, Account Ability, from www.idmsinc.com.

 

AddonSoftware and BASIS International Ltd. make no warranties either express or implied as to the use of third party software with BASIS products. In no event will BASIS be liable for damages, including any loss of profits, lost savings, or other incidental or consequential damages arising out of your use or inability to use third party software products.

 

 

  1. Make certain that all Invoice Registers, Purchase Order Invoice Registers and Check Registers have been updated for the last fiscal period.

  2. If the month is December, print 1099s:

    1. Use the Export 1099 Data To Text task on the Period End Processing menu. This will create two text files, one containing data from the AP Parameter Maintenance/Report Parameters task, and a second file containing the 1099 data for each vendor. The first file will be named APCLIENTnn.TXT where nn is the Addon firm number. The second will be named AP1099DATAnn.TXT where, again, the nn stands for the Addon  firm number.   

      NOTE: Both exported text files will be located in the <bbjhome>/apps/aon/data directory.

    2. If you haven’t already set up or imported a valid client for 1099s, follow the procedures in Account Ability to import the client text file that is created by the export task.

      NOTE: Clients imported for 1099s may be used for W-2s, and clients imported for W-2s may be used for 1099s. However, you will need to add a phone number into the 1099 section of the Account Ability “Contacts” tab for each client imported from Addon Hybrid v6 Payroll that is used for 1099s.

    3. Follow the procedures in Account Ability to import the 1099 data text file that is created by the export task. Specific instructions are provided in the documentation accompanying Account Ability.

    4. Review the client data in Account Ability.

    5. Review the 1099 data in Account Ability.

    6. Make any necessary adjustments to correct balances, include/exclude vendors, or modify client data. As a general rule, make these adjustments in AddonSoftware, and then re-export the data. While you can make changes to the data in Account Ability, those changes won’t be reflected in AddonSoftware.

    7. Print Form 1099-Misc from Account Ability using the standard IRS approved form, available from most form suppliers.

  1. Print the Aging Report and compare the total balance to the General Ledger Accounts Payable account(s).  If not in balance, make any necessary adjustments and repeat until in balance.

  2. (Optional)  Print the Purchase Journal, Disbursements Journal and Monthly Check Report on the  Period End Processing menu, for the last fiscal period.

  3. Back up your data files.

  4. Run the Period End Update on the Period End Processing menu, for the last fiscal period.  In addition to the standard period end functions, the current year indicator is incremented. Each vendor’s year-to-date figures are cleared for purchases, discounts and payments (and next year-to-date figures are moved to the current year).  If the period is December, you must also run the Close Form 1099 Year task so that the calendar year-to-date disbursement figure is reset to zero.

 



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