Year End Processing Resources

1.
What resources are available to
year end processing questions?

Month End & Quarter End Processing

2.
Do we still have to do our
regular month end and quarter end processing in Ascente and Traverse?

General Ledger

3.
What do I need to do to start
processing in fiscal year new payroll year in Traverse?

4.
What do we need to do in
Traverse to close a fiscal year?

5.
When I go to enter Work Order in
Ascente, we get a message saying that the fiscal periods are not setup?

Payroll

6.
What is the difference between
the Payroll Year and Fiscal Year?

7.
Were our new payroll year payroll
tax updates installed?

8.
When can we start processing
payroll in the new payroll year?

9.
Do we need to have the new
Traverse payroll year and formula tables for that new year need to be added if
we do not do payroll check processing in Traverse?

10.  Does the File / Change Payroll Year set it for every user?

11.  How do I set my payroll year in Traverse?

12.  We forgot to change to payroll year new payroll year and entered
and posted all our timecards to payroll year current/old payroll year. What do
we do?

13.  How do I know what payroll year I am in when doing Timecard Entry?

14.  If my pay period spans years, such as 12/28 from the current/old
payroll year through 1/3 of the new payroll year, what payroll year do I need
to be in?

15.  Do I have to do my W-2’s and all payroll yearend processing for current/old
payroll year before doing payroll processing in new payroll year?

16.  When entering timecards, how can I tell what Payroll Year I am
entering time in?

17.  Do I need to file electronically?

18.  W-2 & 1099 Forms, will they print on any vendors forms?

19.  Before printing on the forms, we always you first print on plain
paper and overlay the forms to be sure they will align correctly. This will
prevent wasting forms during the alignment process.

20.  The forms do not align with the data, what do I do?

Accounts Receivable

21.  What is required in Traverse – Accounts Receivable at year end?

Accounts Payable

22.  What is required in Traverse – Accounts Payable at year end?

Ascente – Service Dispatch

23.  What do we need to do in Ascente at year end for Service Dispatch?

Ascente – Job Cost

24.  What do we need to do in Ascente at year end for Job Cost?

Ascente – Posting Dates

25.  In Ascente, how do I know what fiscal year reports are being
posted to?

Ascente Mobile Pro

26.  The payroll year needs to be advanced to new payroll year after
all entries for current/old payroll year are completed and before any for new
payroll year are entered.

Document Retention

27.  Can Ascente and Traverse print to PDF files?

Year End Processing Resources

1.
What resources are available to year end
processing questions?

a.    You
will find video’s and documents at these links:

i.    Compusource
Web Pages:

1.    compusource.com

2.    servicecontractorsoftware.com

ii.    Year
End Procedures: Link

iii.    Training
Videos: Link

Month End & Quarter End Processing

2.    Do
we still have to do our regular month end and quarter end processing in Ascente
and Traverse?

a.    It
is assumed that you are still completing your normal month end processing for
all the Ascente & Traverse modules.

b.    It
is assumed that you are also completing your normal quarter end processing for
the modules that have quarterly processing requirements such as payroll or
sales tax reporting.

Payroll

3.
What is the difference between the Payroll Year
and Fiscal Year?

a.    Payroll
Year refers to the year the transactions will be paid and reported on a W2.

b.    Fiscal
Year refers to your General Ledger reporting year, which may be different than
a calendar year.

4.    Were
our new payroll year payroll tax updates installed?

a.    Run
the Traverse / Payroll / Setup & Maintenance / Formula Tables program and
see if the payroll year new payroll year records are there. If they are, you
have had the new payroll year payroll tax update installed.

The new payroll year has been installed
if you can view a record for the new payroll year.

b.    If
the new payroll year and formula tables do not exist, call Compusource to get
them installed.

5.    When
can we start processing payroll in the new payroll year?

a.    After
you have completed all payroll processing in current/old payroll year.

i.    Post
all unposted timecard records for current/old payroll year.

ii.    Run
the Ascente File / Change Payroll Year. Set it to new payroll year.

b.    After
Compusource has installed the year end updates and created the new payroll
year.

c.     After
you have completed the creation and setup of the new payroll year

i.

This needs to be the new payroll year. In
this case it should be new payroll year.

After you have set your companies SUI rate in the Traverse / Payroll
/ Setup & Maintenance / Formula Tables. Find your payroll state P??_SUI and
enter your companies assigned rate. This will not default from the current/old
payroll year rate.

This needs to be set to your company’s
assigned SUI rate. State Unemployment
Insurance

6.    Do
we need to have the new Traverse payroll year and formula tables for that new
year need to be added if we do not do payroll check processing in Traverse?

a.    If
you do timecard entry, you need the new Traverse payroll year created.

b.    You
must have the Traverse - Payroll formula tables installed. You will not be able
to add new Traverse – Payroll – Employee records for the new year if the if the
payroll formula tables for the new year have not been installed.

7.    Does
the File / Change Payroll Year set it for every user?

a.    No,
every user must change their payroll
year themselves. This is only required if the user enters timecards.

8.    How
do I set my payroll year in Traverse?

a.    Traverse
/ Payroll / Periodic Processing / Change Payroll Year

b.    This
needs to be done by every individual operator processing payroll in Traverse so
that all payroll reports and processing is being done in the correct payroll
year.

9.    We
forgot to change to payroll year new payroll year and entered and posted all
our timecards to payroll year current/old payroll year. What do we do?

a.    This
is a two-step process:

i.    While
in current/old payroll year, enter all of the same timecard entries that you
posted, but make the hours be negative to back out the original entries that
were posted in error. Register and update that time using the same GL Posting
Date that was previously used.

ii.    Now
change to payroll year new payroll year. Enter all the timecard records again
as originally entered. Register and update the timecard records. That should be
all you need to do.

10.  How
do I know what payroll year I am in when doing Timecard Entry?

a.    When
you select an employee, the current payroll year will be displayed under the
employee code. Note that below indicates that the current payroll year is
current/old payroll year.

11.  If
my pay period spans years, such as 12/28 from the current/old payroll year
through 1/3 of the new payroll year, what payroll year do I need to be in?

a.    If
the payroll check is dated in new payroll year, you need to be in payroll year
new payroll year when you enter the timecard records.

12.  Do I
have to do my W-2’s and all payroll yearend processing for current/old payroll
year before doing payroll processing in new payroll year?

a.    No,
you can do W-2’s and all other reporting in new payroll year. Just make sure
that you set your payroll year to new payroll year before entering the timecard
records.

13.  When
entering timecards, how can I tell what Payroll Year I am entering time in?

a.    After
you select an employee, the payroll year will display below the employee code.
This is important that in January, time is entered in the correct payroll year.

14.  Do I
need to file electronically?

a.
The United States Social Security Administration
(SSA) requires that all employers with 250 or more employees file W-2 forms
electronically. TRAVERSE creates the text-based W2Report file you send to the
SSA in the EFW2 magnetic media format specified by the SSA. The SSA
requirements for this file are described on the www.ssa.gov
website. Check with your states tax authority before filing W-2s.

15.  W-2
& 1099 Forms, will they print on any vendors forms?

a.
They are designed for a specific form that is
pretty standard, but we can’t say they will print on any form. Open Systems recommends this vendor http://www.nelcosolutions.com/ . Be
sure to look For Traverse 11 or 10.5 forms. Whichever is appropriate.

b.
PR - W-2 Form

i.    They
can order ‘2 - Per Page’ or ‘4 - Per Page’ forms.

ii.    The
Traverse EPTR (Enhanced Payroll Tax Reporting) module will print the completed
forms on plain paper.

c.
AP – 1099 MISC Form

16.  Before
printing on the forms, we always you first print on plain paper and overlay the
forms to be sure they will align correctly. This will prevent wasting forms
during the alignment process.

17.  The
forms do not align with the data, what do I do?

a.
Assuming that forms being used are compatible
and the data just needs to be adjusted slightly horizontally or vertically a
little bit, they can preview the forms and then click on the Page Setup button

to adjust the margins.

b.

Accounts Receivable

18.  What
is required in Traverse – Accounts Receivable at year end?

a.    Nothing
is required by Traverse, but we recommend that you do the following:

i.    Complete
all AR sales and payment processing for the year.

ii.    Complete
your normal month end processing.

iii.    Balance
your AR sub ledger to your GL receivable accounts. Traverse / General Ledger /
Interactive Views / Subsidiary Ledger Audit View.

iv.    Print
a final Detailed AR Aged Trial Balance Report

v.    Print
or file any of the Management Reports that you may need to the previous year.

b.    See
more detail processing notes using this link.

Accounts Payable

19.  What
is required in Traverse – Accounts Payable at year end?

a.    Complete
all AP invoicing and payment processing for the month and year.

b.    Complete
all of your normal month end processing.

c.     Process
your 1099’s for all of your 1099 vendors

d.    Verify
that all of the vendors for 1099’s are setup to print a 1099

e.    Verify
their totals for the year using the Traverse / Accounts Payable / Periodic
Processing / AP 1099 Processing program to edit the vendor totals as necessary.

f.      We
recommend that you do the following:

i.    Balance
your AP sub ledger to your GL receivable accounts. Traverse / General Ledger /
Interactive Views / Subsidiary Ledger Audit View.

ii.    Print
a final Detailed AP Aged Trial Balance Report

iii.    Print
or file any of the Management Reports that you may need to the previous year.

g.    See
more detail processing notes using this link.

General Ledger

20.  What
do I need to do to start processing in fiscal year new payroll year in
Traverse?

a.    You
need to run the Traverse / System Manager / Company Setup / Period
Conversion and add the record for new payroll year has not been
setup. If it is not on the dropdown list, just type it in and it will prompt
you to add it. This should be done by someone in the accounting department if
you are not sure.

Figure 1:
Traverse / System Manager / Company / SM Period Conversion

b.    If
a new year is being created, you will be prompted with ‘Do you want to setup periods for Company XXX, Year ####’. Click on
the [Yes] button.

c.     Verify
that the created fiscal period start
and end dates are correct, correct if
necessary. Typically, you will just click the ‘Copy Previous Years values’ and
click the [OK] button.

21.  What
do we need to do in Traverse to close a fiscal year?

a.    Traverse
/ System Manager / Company Setup / Period
Conversion needs to be run to create the new fiscal year.

b.    Run
the Traverse / General Ledger / Periodic Processing / Update
Current Year program to roll the balance sheet totals into the new year and
calculate and roll forward the retained earnings.

i.    Before
doing this, you should:

1.    Review
the detail process at http://www.compusource.com/Support/year-end-procedures/year-end-procedures-Ascente.php

2.    Print
the Chart of Accounts list on the Master Lists menu. Check the box to print the
clear and consolidate information. Once the list is printed verify the
following information:

a.    The
income statement accounts have an account type between 500 and 890.

b.    The
balance sheet accounts have an account type between 005 and 465.

c.     The
step and clear to account information.

3.    Use
the Chart of Accounts function on the Setup and Maintenance menu to edit incorrect
setup information found on the Chart of Accounts List if needed.

c.     Change
to the new fiscal year new payroll year by running the Traverse / General
Ledger / Periodic Processing / Change Fiscal Year program.

d.    Run
the Traverse / General Ledger / Periodic Processing / Update
Current Year program.

22.  When
I go to enter Work Order in Ascente, we get a message saying that the fiscal
periods are not setup?

a.
This is telling you that the Traverse /
System Manager / Company Setup / Period
Conversion record for new payroll year has not been setup. We get a lot of
support calls for this.

Ascente – Service Dispatch

23.  What
do we need to do in Ascente at year end for Service Dispatch?

a.    Nothing
special is required, but we recommend that you complete all your normal monthly
processing.

b.    Complete
all service billing.

Ascente – Job Cost

24.  What
do we need to do in Ascente at year end for Job Cost?

a.    Nothing
special is required, but we recommend that you complete all of your normal
monthly processing

b.    Complete
all job cost billing

c.     Print
or file final year end job cost reports that could be needed in the future.
This is important because some reports when printed, the billing to date totals
can’t be derived in the future by back dating the reports.

d.    See
more detail processing notes using this link.

Ascente – Posting Dates

25.  In
Ascente, how do I know what fiscal year reports are being posted to?

a.    The
G/L Posting Date entered, will determine the fiscal year and period based on
the Traverse / System Manager / Company Setup / Period
Conversion record.

Ascente Mobile Pro

26.  The
payroll year needs to be advanced to new payroll year after all entries for
current/old payroll year are completed and before any for new payroll year are
entered.

Document Retention

27.  Can
Ascente and Traverse print to PDF files?

a.    Yes,
the following video’s detail the process

i.    Document
Retention

ii.    Creating
PDF files in Traverse & Ascente

E-mail Template:

Hello,

Please see the information and reference links below and
please let me know if these to not address your question or concern:

Here are some links to Ascente & Traverse Year End documents and
other support video’s and documents:

-
Compusource Website: www.compusource.com and servicecontractorsoftware.com

-
Year End Procedures: Link

-
Training Videos: Link