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What reports do I need to use for year-end processing?

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Summary

Which reports in Sage 50 Accounting to use for year-end processing.

Resolution

Reports to use for Payroll:

  • Payroll tax reports

    • Tax Liability Report: Use this report to compare what was calculated in Sage 50 versus what taxes were withheld.  It includes subtotals for the 940 and 941 Federal tax forms as well as subtotals for State and Local taxes
    • Quarterly Earnings Report: The Quarterly Earnings report displays all paycheck information for each employee with subtotals for the selected quarter of the calendar year.  Each payroll field is displayed with totals.  These totals are included on the 941 and state quarterly forms
    • Payroll Tax Report: Use this report to review the payroll taxes for your company.  The tax reports that can be printed are: FICA EE, FICA ER, FUTA, MEDICARE, XXSUI ER, XXSDI and XXSSA (where XX represents your state code)
    • Payroll Exception Report: This report will allow you to identify incorrect employee withholdings by comparing the calculated tax amount to the actual tax amount withheld on the employee payroll check

  • Affordable Care Act Reports

    • Payroll Register: This report provides a list of employee paycheck information for the selected date range showing hours, deductions and paycheck amount
    • Quarterly Earnings Report: The Quarterly Earnings report displays all paycheck information for each employee with subtotals for the selected quarter of the calendar year.  Each payroll field is displayed with totals.  These totals are included on the 941 and state quarterly forms

 

Reports to use for Accounts Payable:

  • Aged Receivables: Customers with outstanding invoices sorted by aging category
  • Taxable / Exempt Sales: Taxable and exempt sales per tax agency
  • Invoice Register: Invoice list showing date, quote number, customer name and invoice amount
  • Sales Journal: Sales transactions are displayed in journal format (showing debits and credits)
  • Cash Receipts Journal: Money received from customers is displayed in journal format (showing debits and credits)
  • Customer Ledgers: Customers with detailed transaction information and outstanding balances

Reports to use for General Ledger:

  • General Ledger Trial Balance: Account balances as of the date or period you select
  • General Journal: Posted general ledger transactions displayed in journal format (showing debits and credits)
  • General Ledger: Transactions in each account for the date or period you select