written by: Jim Scheithauer
Every once in awhile I have a client call me about a quarter-end issue. They proceed to tell me how they rushed to run Trial Quarter Close and immediately after the Final Quarter Close so they could run the first payroll of the new quarter. Good news! You never have to do that and will save yourself a lot of time and frustration if you will just follow the basic time frame for closing your quarter.
QUARTER PROCESSING SCHEDULE TIMELINE
-- Run Final Payroll for Quarter
-- Run reports for balancing
-- Download and Install Abra Suite Quarter Update
--- Install Tax Update found in Payroll / Rules / System Tax Tables
--- The Quarter Update must be installed before you run the Trial Quarter Close process.
--- Run Pre-Close Quarterly Reports
--- Balance and reconcile QTD and YTD totals
***** AT THIS POINT, YOU CAN RUN PAYROLLS FOR NEXT QUARTER *****
Now, after you are balanced and satisfied with your reports and of course before your deadline approaches for filing, you can:
-- Process Final Quarter Close
--- Run Final Quarter Reports
--- Run Year-End Reports