OVERVIEW: The audit period should normally be used for the following situations: Entering opening balances when first starting to use the product, unless we convert your existing data into the system. Release from donor restrictions Reclassify a disbursement to a capitalized asset Year-end audit adjustments Rationale: In each of the above situations, transactions are entered that should […]
If you use the ShelbyNext Financials Payroll application, then you should notice that the new withholding tables for 2018 are in place.
Starting January 1, 2017 employers with less than 50 employees can offer employees a reimbursement for medical insurance that provides minimum essential coverage (MEC). There are a number of requirements and regulations that should be considered before deciding to provide this non-taxable benefit. If you did comply with the required notices on or before March […]
Federal Reports Make sure you have blank forms for all IRS needed filings. NELCO has what you need. Click Here to order forms Deadline for filings now is January 31, 2018 for most reports General Ledger Check all sub ledgers for unposted 2017 transactions Check Journal Entry to make sure all journals have been posted […]
This is an automatic 30-day extension, therefore there is no need for filers to request the extension. The due dates to file ACA forms to IRS have not changed and are as follows: February 28, 2018 for paper filers April 2, 2018 for electronic filing Will keep you updated as we receive up dates from […]
Employers, including nonprofit organizations, are required, beginning in calendar year 2017, to report the fair market value of provided health care benefits. This information is to be included on IRS Form W-2 in Box 12, using code DD, for every employee receiving health care benefits as part of his or her compensation. ShelbyNext | Financials […]
January 2, 2018 UPDATE Several states have released 2018 withholding updates effective today. We have updated the Financials Payroll withholding tables including those changes. We anticipate additional state action and will continue to update the withholding tables as needed. In addition, the IRS has advised employers to continue using the 2017 withholding tables through January […]
We learned this morning that customers printing checks on blank check stock (MICR Checks) produced an error if the vendor / employee record does not have an address, The problem has been located and fixed, and included in the current release.
This year you have multiple options from within Financials to file the necessary year-end tax forms. Financials now supports the following methods to review and submit year-end tax forms from Accounts Payable and Payroll. Edit List – a quick view to make sure your records are correct Use E-Fine Service – a fully automated way […]
Considering moving to ShelbyNext | Financials and/or Arena Select Hosted? The following points may help with your decision. 1. Hardware Costs – Based on figures from a current customer: the cost for new servers, software server licenses, installation, and implementation on are approximately $9000. Ongoing IT service can average over $500 per month. With a […]