Year End Readiness 2021


Overview

Don’t wait until the last minute. Get up to date on 2021 1099s changes and all year end processes to ensure you end the year with ease.

Required Permissions

  • Office Security Rights to Vendors

  • Office Security Rights to G/L


Not sure where to start? Let us guide you…

 

Live Training Options

Want to work with a live trainer to walk through the year end process? Join us for either of our 1 hour sessions on Year End Readiness to review closing out the year, creating new periods, opening/closing periods, and navigating the Year End Wizard. We’ll review flagging your vendors for 1099s as well as printing 1099s. Also, we’ll take a look at how to create your 2022 budget. It will end with a look at some helpful year end reports that we suggest running to ensure you have a full picture of general ledger entries and vendor activity for the year.

Year End Readiness (1 hour)

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Maybe you’ve been through year end with Clubessential but want a refresher on one specific area. Check out our Year End Review Mini Series where you can join a live trainer to review 1099 processing, running the Year End Wizard, or uploading budgets for 2022. 

Year End Review Mini Series (1099s)

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Year End Review Mini Series (Year End Wizard)

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Year End Review Mini Series (Budgets)

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Best Practices

  1. Set your vendors up with 1099 information as soon as you create them.

  2. Use the 1099 report to determine any missing vendors.

  3. Run the Year End wizard as often as needed.

  4. Make sure every cell in your import file has data.

FAQs

  1. What if I didn’t set up my vendor with the correct 1099 information?

    1. Use the adjustment feature in the vendor’s profile.

  2. Can I delete a Year End Batch?

    1. No. But you can rerun the Year End Wizard if more transactions occur after the initial run.

  3. Why are the errors during my import telling me the wrong row numbers?

    1. Most budget import files have a header row and the system sees the first row of data as row zero. Add two rows to the error value and it should line up.