This procedure outlines the steps for NWOCA districts to follow to close the USAS calendar year.
1. Verify 1099 information for vendors.
VENSSN/Option 5: NOT 1099-MISC Vendors and YTD Activity > $599.99
If the vendor uses a different name for 1099 reporting, enter the 1099 reportable name on the 2nd name field on the vendor record. Enter the digits 1099:followed by the IRS 1099 name.
Requires an IRS e-services account
2. Verify the TIN type is entered and correct on the "SSN/EIN" field on the vendor record in VENSCN.
Run the F1099 program saying NO to create the tape submission file and review the F1099 report for TIN Type errors.
Errors are listed UNDER the vendor.
3. Enter all transactions for the current month
4. Attempt to reconcile USAS records with your bank(s):
In the USAEMSEDT Program, Option 1, Enter your cash reconciliation information
Run BALCHK and Outstanding PODETL Reports
Examine the MTD, YTD, and FYTD expenditure lines on BALCHK report
|Dollar amounts for cash, budget, & approp. accts should all be identical for each line on report|
Examine the MTD, YTD, and FYTD revenue lines on BALCHK report
|Ddollar amounts for cash and revenue accounts should be identical for each line on report|
Compare Current Encumbered totals from the BALCHK and Outstanding PODETL reports.
|They should be identical…….. if not execute the FIXENC to correct and regenerate BALCHK and compare totals. If the totals still do not balance contact NWOCA personnel for assistance.|
5. Run FINSUMM, selecting "Y" to generate the FINDET report for comparison.
If all above steps are performed and totals all agree, you are in balance and may proceed.
6. From your *NORMAL account, run the SM2CALC program. The SM2CALC calculates the SM2 for the month, print the resulting report.
7. Log into your "B" account and at the menu prompt enter the command:
%COPY-E-OPENIN, error opening FSA:[DISTRICT]ACCT.IDX;2 as input -RMS-E-FLK, file currently locked by another user
THIS IS AN ERROR CONDITION AND THE USER SHOULD INFORM NWOCA IMMEDIATELY
Provided no messages appear in the form described above, the user may proceed
You will be prompted whether you want to generate the reports for NOW or LATER. (NOW would cause it to run immediately and LATER will run at night.)
Please IGNORE the message at the end of the MONTHLYCD program that tells you to wait to run ADJUST until after MONTHLYCD has completed. This message is there for the benefit of the majority of the districts around the state who do not utilize monthly copy accounts. As long as you run MONTHLYCD from your "B" account you can set it to run for later and still run ADJUST from your live account immediately
Upon completion of Monthly CD you will receive an email message in your "B" account; the reports will be accessible via the following URL: www.nwoca.org/fiscdrom/xx
xx meaning the two character abbreviation used for your districts archive account
9. Please verify that the reports appear on the web page and are correct.
10. Generate any additional month-end reports from your "B" account
11. Log into your NORMAL account and run the ADJUST program.
Select "month end processing" and indicate that all of your transactions for the month are completed. The ADJUST program will also automatically calculate your SM2 for the month.
YOU MUST NOT BE RUNNING ANY OTHER PROGRAMS FROM YOUR NORMAL ACCOUNT DURING THIS PROCESS (THAT INCLUDES THE WEB AND PAYROLL PROGRAMS!)
12. Generate any additional calendar year end reports such as WORKCOMP
13. Perform Calendar Year-End copy
From your NORMAL account and at the menu prompt enter the command:
If you are not ready to process your 1099s you may skip Step 14 (running the F1099 program) but you MUST continue on with the rest of the closing procedures starting with step 15.
14. Run the program F1099
IRS implementing 1099-NEC (Non-employee Compensation) for for CY2020. F1099 program will have the ability to generate for all types, just NEC or just MISC. When running the F1099 program make sure to choose the option B for both.
You will be asked your district information at the beginning of the program. The defaults in the reporting requirements section are the recommended settings but can be overwritten if desired.
|Be sure to say Y create a tape file as this is the file that will be sent to the IRS.|
Contact NWOCA personnel by email (email@example.com) within 48 hours of running the F1099 program to print 1099's as the report file disappears after 48 hours.
Include in your email how you would like to receive your 1099s. You may either pick them up at the Archbold Office (by appointment only) or we can send them via UPS.
After NWOCA receives the email we check to see that all the necessary F1099 files were created. We rename the files to a different extension in order to save them for later use. We take the F1099.DAT file and merge it with the EDGE software designed to generate 1099 forms to print on self-sealing 1099-MISC and 1099-NEC laser forms. Each district will receive the following packet once the forms are printed and sealed.
NWOCA will charge $5.00 for each W2 or 1099 that needs to be reprinted.
15. Run VENHIRE/VHRESET
Select the "Year-End" option and run for "Calendar".
YOU MUST NOT BE RUNNING ANY OTHER PROGRAMS FROM YOUR NORMAL ACCOUNT DURING THIS PROCESS (THAT INCLUDES PAYROLL PROGRAMS!)
You are now closed for the calendar year, proceed with January processing.
If you skipped step 14 because you were not ready to process your 1099s do not forget to go back to the _b account and process them before the deadline.