Follow Important Year-end Procedures
DSI clients can keep their accountant happy by taking some vital steps at year end, says Debra Bourbon, Manager of Quality Assurance and Documentation.
Clients using the DSI system for payroll should contact support after running their last payroll of the year. DSI support will roll the payroll into the new year. This must be done prior to running any 2017 payrolls.
Dealers do not have to run employee W-2 statements (T4 in Canada) right away. This can be done after you have started running 2017 payrolls.
For clients in the United States, DSI support will load new tables for federal deductions. Clients are responsible for loading any state information on tax rates or deductions.
For clients in Canada, DSI support will load the new federal and provincial tables. This should be done after the last 2016 payroll and before you run a payroll in 2017.
For parts and service:
Clients should close all possible repair orders by Saturday, Dec. 31. After all possible repair orders are closed, be sure to run an Open Repair Order Status Report (SRO #1). This should be provided to your accountants for year-end reconciliation.
You should conduct a parts inventory before year end and prepare an inventory report. DSI has a series of videos explaining how to do inventories. These videos are available by logging into the DSI support site. Please contact support if you need assistance or have any questions. Be sure to run your appropriate inventory reports at the end of the day on Saturday, Dec. 31 so that your accountants can reconcile inventory.