This page has been designed to give you a general guideline to the steps that should be taken to properly close the Resort Management module for calendar year 2010.
Step 1
Make sure all 2010 data dealing with a 1099 file (i.e. check-in's, invoice payables, etc.) has been entered. Make sure you have processed your Reservations after checking them in.
NOTE: You cannot process any year 2011 information until all the steps shown on this page have been taken!
Step 2
Run your normal month-end reports for the month of December. You will also need to run any 2010 YTD owner reports that you do not normally run as part of your month-end routine such as 5433 (Unit YTD Analysis) or 5435 (Unit Financial Statements).
Step 3
Verify your tax identification number in the RMUSER control file.
If the system does not find the tax identification numbers in these files, the information will not collect into the Magnetic Media application.
- Select option 0152.
- Enter the user abbreviation then the line number shown below to verify that your tax identification numbers appear in the appropriate control file.
- RM, line number 007. The federal TAX ID# used for Resort Management 1099's for owners and vendors.
Step 4
Verify your unit accounting periods.
- Select option 5115.
- Select the option to "Print File List".
- Select by unit.
- Enter the unit range as "A" to "ZZZZZZ".
- Answer "N" to the question "DO YOU WANT THE BREAK DOWN OF ALL ACCOUNTS ?"
- Print and review the report to make sure all the unit accounting periods reflect 201012. If some units reflect a period less than this period (i.e. 201001 - 201011), it must be changed. This can be done by taking the "Change a Record" action code in option 5115. The accounting period is located in field 14 of screen A or on the Property Info tab. If the property period is 201012 or greater (i.e. 201013, 201014, etc.), then no action is necessary.
Step 5
Make a backup copy of your data files. DO NOT re-use this backup for any other backups (including Year-end Financial Management/Real Estate or Property Management unless their year-ends are also being done at the same time as this backup). This backup should be stored for future reference and marked as "2010 Year-End"
Step 6
Collect your 1099 tax information into the Magnetic Media application. This allows you to continue the year end process without actually printing the tax forms at this time.
- Select option 0261.
- Enter a "Y" next to "RM Vendors", and RM Owners". Make sure you do not answer the questions too quickly. A lot of clients have overrun the message shown in step 5 in past years and lost their data.
- Enter the tax year as 2010.
- If this is the first time this program has been run for 2010, the message "1099 HOLDING FILE NOT FOUND ... CREATE FILE? (Y/N) [ ]" will appear. Enter "Y" to create and collect the data into the file.
- If the message "1099 HOLDING FILE FOUND ... RE-CREATE FILE? (Y/N) [ ]" is displayed, answer "N".
WARNING! The file holding the 1099 tax information IS NOT company nor module oriented. The file holds all information for all companies and all modules. If you get the message in step 5. DO NOT answer "Y" or you will lose any data that has been collected for any other companies and/or modules.
Step 7
Generate, then print, your 1099 Magnetic Media Report.
- Select option 0461.
- Enter 2010 as the Tax Year.
- Print the report from the spool utility and retain for future reference. Do not throw this report away until you have printed your tax forms.
Step 8
Change system status to "Supervisor".
- Select option 5815 and change field 04 to "S".
Step 9
Clear the month of December.
- Run option 5383 instead of option 5381. This program will clear your owner and vendor 1099 totals for 2009.
Step 10
Change the following dates in option 5815 to reflect January 2011.
- Screen A, field 01, Beginning of the Month Date. Should be 01/01/2011.
- Screen A, field 02, Report Date. Should be the current date.
- Screen A, field 03, Posting Date. Should be the current date.
- Change the system status back to "User".
Step 11
Begin posting year 2011 information.