Zero Calendar YTD Fields

This is the last routine selected of the Calendar Year Close. It will Zero YTD values. The YTD fields must be zeroed to setup for a new year of accumulating data.

Select Close - Zero Calendar Year Values

See the image for this filter in Calendar Year Close.

Always make a Permanent Backup to a diskette, CD, or some other removable device before you Zero YTD values. Store the diskette or CD in a safe place for permanent storage. Do not rely on the temporary backup to hard disk for permanent storage.

EMPLOYEE W-2 VALUES

This routine will zero the year to date values for the employees in the company you specified. Only when all reports and forms have been successfully printed for the entire company, should you zero values. Unless you have a backup, you can no longer print the W-2s or Year-End reports once you zero the year to date values for the company. But, you must zero the company before you can update a payroll for the company for a New Year. Normally print all reports and if printing is OK, zero the year to date values so that you can begin a New Year. This procedure will delete inactive employees.

OWNER 1099 VALUES

This routine will zero the year to date values for all owners and customers in the CUST.DBF file for the entire company. Minimum withhold year to date balance will not be zeroed in the CUST.DBF file. All other values will be zeroed. Year to date values for federal tax withhold and year to date values for state tax withhold will be zeroed. It also zeros the released year to date revenue, taxes and expenses in the Division of Interest file for the entire company. Suspense values are not zeroed. No life to date fields are zeroed in either file.

Only when all reports and forms have been successfully printed for the entire company should you zero values. Unless you have a backup, you can no longer print the 1099s or reports once you zero the year to date values for the company. But, you must zero 1099 values for the company before you can update Operating Statements for the company for a New Year. If 1099 values are not zeroed and you update Operating Statements for January, the DOI would contain last year and January 1099 values. The values would have to be corrected by hand or restored from a backup. Zeroing values now would zero out last years values and January values because the closing is not date sensitive.

Normally print all reports including Suspense Non-Released and Minimum Check Withhold Detail report to verify accuracy before zeroing values. If printing is OK, zero the year to date values so that you can begin a New Year.

After zeroing year to date values for owners of that company, you will be asked the year for which the values were zeroed. This is stored for future warning messages. This year will be used to check when you update next for Operating Statements to see if you have zeroed year to date values for the previous year.

VENDOR 1099 VALUES

This routine reads from the year to date 1099 service, 1099 rental, federal withhold and state tax withhold values stored in the Vendor file. These values are updated each time you pay an invoice. Be sure you do not pay any invoices for January before zeroing the year to date values. This routine will zero the year to date values for all vendors for the entire company you specified.

Only when all reports and forms have been successfully printed for the entire company, should you zero values. Unless you have a backup, you can no longer print the 1099s or reports once you zero the year to date values for the company. But, you must zero the company before you can make payments to invoices for the company for a New Year.

Normally print all reports and if printing is OK, Zero the year to date values so that you can begin a New Year.

After zeroing year to date values for vendors of that company you will be asked the year for which the values were zeroed. This year will be used to check when you update next for Accounts Payable checks, to see if you have zeroed year to date values for the previous year.