A monthly email newsletter from Best Business Strategies
November 2024
In this issue:
New Sage Option Coming Soon
2024 Tax Time Info
Year End Wizard
Importance of Updating Your Information in Sage Customer Portal
Coming Soon Sage Hosted Sage 50 Option!!!!!
This is a real cloud solution hosted by Sage, not a third party.
Sage values its customers’ feedback and has developed solutions for their diverse needs. Soon, you can choose between the reliable familiarity of traditional desktop software or the flexibility of cloud-hosted services, allowing you to select the best option for your business.
2024 Tax Time Information
Friendly Reminder-As of January 1, 2024, the IRS requires taxpayers who submit ten or more returns, including W-2s and 1099s, to file tax return information electronically.
How to determine how many vendor 1099’s you need in Sage 50
Step 1) Go to left grey menu bar and select Vendors & Purchases.
Step 2) Click on vendor icon and select view and edit vendors. This will give you a list of all your vendors.
Step 3) You need to go to the top menu bar and select settings.
Step 4) You need to add 1099 type to your selected columns and click ok.
Step 5) At this point you can see who your vendors are by 1099 type. If you need to modify a vendor on your list, simply click their name and change vendor type.
Step 6) Go back to your Vendors & Purchases menu and select 1099's icon. Then select print 1099 reports. You will be able to count how many 1099's you need.
If you submit more than ten returns, Sage offers an easy, affordable, and IRS-compliant e-filing solution add-on!
Aatrix Tax E-filingSubscription will make your tax reporting easier with Sage 50’s Federal and State eFiling and Reporting. Save time by choosing from over 330 forms, including Unemployment, Withholdings, New Hire reports, W-2s, and W-3s. These electronic forms look like the government forms you get in the mail, but they won’t be blank. Much of your information will already be filled in by your Sage 50 system. One Year Aatrix Subscription Cost is $82.00
This year, the total number of forms you need to e-file will determine the best to process your forms. Best Business Strategies is offering a 20% discount on our tax forms. However, Aatrix's Complete e-File service may be more cost-effective. Please visit our 2024 Tax Form Page to determine the option that suits you best.
Sage 50 Year End Wizard
Why do I need to close my year?
Sage 50 allows you to keep two years of your company’s information open at one time. When you are approaching the end of your second year, Year End Wizard will guide you through closing your first open fiscal and/or payroll year.
Please note you can close a year anytime; you do not have to wait until year end!
❗You don't have to go it alone. We have a lot of experience!
Purchase Best Business Strategies Year End Wizard Service, and we’ll remote in with you to perform the Year End Wizard Utility. Per your request, we can restore and rename your closed company so you can still view the data for the recently closed company.
Remote assistance or overnight/weekend closing options are available.
Importance of Updating Your Information in Sage Customer Portal
Due to scammers, Sage has diligently increased Sage 50 account security. If your name is not on the account, Sage customer service will not talk to you about your account or offer support. We encourage you to verify the information in your customer portal is correct now and not wait until you have a problem or are up for renewal!
