OSAS

  • Tips to preparing in advance for year-end processing

    Do you remember the challenges you had in prior years with filing forms and closing your company's year in the accounting system?  Sometimes they didn't go as smooth as they could have - right? Chances are likely many of those last minute fixes might could have been caught and prevented months ahead. Our team at Business Accounting Software has compiled a list of simple actions you can take anytime during the year to help ward off some of the extra work you would have to do in January. Click HERE for our list of helpful year-end tips. And check back often - or view ...

  • How to reimburse employees for non-taxable expenses using Payroll

    Since reimbursing employees for out of pocket expenses are not taxable to the employee, most companies choose to run these payments through the Accounts Payable application. However, there is the simple option to reimburse them during the Payroll process without affecting their taxable wages on the W2.  Here's how: In Payroll, add an Earning Code for reimbursements ‘Exclude’ that Earning Code for all Employee and Employer taxes. Process per usual, using the reimbursement earning code when entering non-taxable expenses This will add the reimbursement to the Employee’s net pay and not affect any taxable information on the W2. Because this amount is ‘Excluded’,  it will not appear on either W2 or tax reports but ...

  • Roles in OSAS 7.6 expands permissions

    Roles in OSAS 7.6 and higher expand the Access Codes functions in the previous versions.  Roles allow greater flexibility and detail when setting up permissions to users. There is also the option to Hide menu entries when access is denied? so a user without rights to a menu option will not even see it listed on the menu. When installing OSAS, the first user added is assigned the Admin role. Each additional user must have at least one role assigned, but they can have multiple roles depending on their job functions in OSAS. For example, assuming the two roles "Entry" and "Manager" were created - you could assign data ...

  • Inventory cycle counts ease the physical inventory process

    Year end is when most companies take a Physical Inventory count - and a time many dread.  During this time all operations usually shut down and over the course of a day or two, employees count all the inventory. The counts are then delivered to the accounting department where they are entered and verified. Once completed, all variance and valuation reports are run and the inventory is updated with the changes and then sales and receiving begins again. Physical Inventory does not have to be a massive project at year end. You can ‘cycle’ count during the year and avoid the ...

  • Budgeting for the new year simplified

    This is the the time that many companies begin preparing their budgets for the new year. Your TRAVERSE / OSAS software offers flexible budgeting capabilities to help with budgeting. You can keep your current year’s budgets in place for you to run comparison financial statements, then use Forecasts and/or Next Year budgets so that you can begin the budgeting process for the next year while still in the old year. In additional, the following budgeting features offer even more flexibility.  Budgets can be entered based upon: Automatically increase/decrease amounts based on amounts / percentages from ‘last year’ Automatically duplicate the same amount to each ...

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