News From GMS - November 2016Current and back issues are provided in Adobe Acrobat format. (Requires the free Adobe Acrobat reader.)
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Tax Form Season is Upon Us
For those of you who have ordered your 2016 tax forms from GMS, we thank you for your order and encourage you to check your order confirmations to ensure that all of the prop-er forms and services ordered from GMS are correct. The appropriate W2, 1099, 1095C, and 1098 procedures will be included in the December 2016 GMS software revisions. Remember, do not run the Edit/Prepare W2 step or the Save/Prepare 1099 step until the December 2016 accounting revisions have been installed.
For clients who have requested that GMS print their forms, the normal turn-around time is one week once we have received your database. This service will begin in January, 2017. Once you have completed Editing/Preparing W2's and verified that your W2 Proof listing is correct, your database is to be zipped up with a password and an email sent to service@gmsactg.com that your database is ready to upload. We will then send you an email with instructions for submitting your database. Note: It is extremely important that when you are filling out the GMS transmittal form that gets sent to GMS, you are accurate in identifying the password used (if any) to zip the database. If an incorrect or misspelled password is sent to us it can delay the processing and increase the time in which the completed forms will be sent to your office.
If you have requested GMS to print 1099 or 1098 forms, you must use Supplement #330 Complete 1099's or Supplement #804 RLSS 1098's to prepare the file you send to GMS. Most orders will be shipped via UPS unless otherwise specified, and the shipping fee will be applied to the total of your tax form order. UPS delivery usually ranges from 3-5 days.
The Help Manual also includes all instructions for those clients who have requested that GMS prepare the file for electronic filing to the IRS. The prepared file will be emailed to the contact person you have specified.
If you haven’t placed your order yet, it is still not too late to order your tax forms. GMS will accept all tax form orders up until December 1, 2016. Note: Additional charges may be incurred for orders received after December 1st, based on availability.
Should you have any questions, please feel free to contact us at service@gmsactg.com or call 800.933.3501 ext 1.
For those of you who have ordered your 2016 tax forms from GMS, we thank you for your order and encourage you to check your order confirmations to ensure that all of the prop-er forms and services ordered from GMS are correct. The appropriate W2, 1099, 1095C, and 1098 procedures will be included in the December 2016 GMS software revisions. Remember, do not run the Edit/Prepare W2 step or the Save/Prepare 1099 step until the December 2016 accounting revisions have been installed.
For clients who have requested that GMS print their forms, the normal turn-around time is one week once we have received your database. This service will begin in January, 2017. Once you have completed Editing/Preparing W2's and verified that your W2 Proof listing is correct, your database is to be zipped up with a password and an email sent to service@gmsactg.com that your database is ready to upload. We will then send you an email with instructions for submitting your database. Note: It is extremely important that when you are filling out the GMS transmittal form that gets sent to GMS, you are accurate in identifying the password used (if any) to zip the database. If an incorrect or misspelled password is sent to us it can delay the processing and increase the time in which the completed forms will be sent to your office.
If you have requested GMS to print 1099 or 1098 forms, you must use Supplement #330 Complete 1099's or Supplement #804 RLSS 1098's to prepare the file you send to GMS. Most orders will be shipped via UPS unless otherwise specified, and the shipping fee will be applied to the total of your tax form order. UPS delivery usually ranges from 3-5 days.
The Help Manual also includes all instructions for those clients who have requested that GMS prepare the file for electronic filing to the IRS. The prepared file will be emailed to the contact person you have specified.
If you haven’t placed your order yet, it is still not too late to order your tax forms. GMS will accept all tax form orders up until December 1, 2016. Note: Additional charges may be incurred for orders received after December 1st, based on availability.
Should you have any questions, please feel free to contact us at service@gmsactg.com or call 800.933.3501 ext 1.
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The GMS annual staff meeting will be held on November 19-21, 2016 in Baltimore, MD. In addition to the three meeting days, Friday, November 18 and Tuesday, November 22 will be travel days for the majority of the GMS staff. Accordingly, our service hours for these days will be as follows.
Friday, November 18 - Although most GMS staff will be traveling on Friday, we will still be providing service to our clients. Please be aware, however, that we may not be able to meet our two hour response time. Monday, November 21 - We will check for service calls every two hours from 9:00 AM EST – 5:00 PM EST and return ONLY emergency calls on this day. Tuesday, November 22 – Since this is a travel day for all GMS staff there will be no service available this day. There will be no service staff monitoring the Service Chat room on November 18, 21 or 22. For emergency calls, you should call the toll free number, send an email, or submit a request for service via our web-site. If calls can be returned on Wednesday, November 23 or the following week, please help us prioritize our re-sponses and specify so when placing your service call. One item we will be discussing during the staff meeting is our client service procedures, so if you have suggestions or ideas on how we can improve service, please contact any member of the GMS Service Staff. We hope that this three day temporary change in service does not inconvenience your agency. We will resume our normal service hours on Wednesday, November 23. GMS Service Call Information: Voice Mail: 800.933.3501 ext 1 GMS Website: www.gmsactg.com Email: service@gmsactg.com 
Thanksgiving Holiday Schedule
The GMS offices will be closed Thursday, November 24th and Friday, November 25th for the Thanksgiving holiday. We will resume normal business hours Monday, November 28th.
Have you updated your email preferences lately?
In an effort to keep our email communications up-to-date, we ask that you update your email preferences from time to time. If you haven’t updated your preferences recently, please visit our website HERE You can now select the type of content that you feel is most important to you. "I made a huge to-do list for today. I just can't figure out who's going to do it." ~Anonymous |
Note: the following article is based on an allocation procedure where the actual indirect cost rate is used rather than a fixed rate.
The third pool that is included as part of the basic GMS Accounting and Financial Management System is the Indirect Cost Pool. The Indirect Cost Pool is a way to allocate your agency’s costs associated with common costs and central organizational functions that are necessary and beneficial to all programs. As with the Leave and Fringe Benefit pools discussed in the previous two month’s newsletters, how the base is defined plays an integral part in determining how the indirect costs are allocated to programs. Note: The base set up in the GMS system should be as defined in your organization’s current indirect cost plan. This is imperative in order to keep you in compliance with your plan. Please refer to the Help Manual under Tools\Cost Allocation Setup\Indirect Cost Allocation for instructions on setting up your base in the software. When an expense is coded to the indirect cost pool, an element within the range 999000 – 999900 is used. (These are control accounts in the GMS system and cannot be changed.) These expenses are collected in the indirect cost pool, then allocated to programs on an agency fiscal year-to-date basis. To calculate the indirect cost rate, the system looks at the total YTD indirect costs and calculates a ratio of those costs against the organization’s YTD indirect cost base. For example, if at a given month the total YTD indirect costs were $75,100 and the total base for distribution was $420,050, that ratio would be $75,100/$420,050 or .1788. (An example of an Indirect Cost base would be total direct charged salaries, allocated leave and fringe benefits.) That ratio would then be applied to the base on all receiving elements. So if an element has a base amount of $94,000, the indirect cost amount charged to that element would be $94,000 x .1788 or $16,807. The allocated indirect cost amount will appear on line item 59700 Indirect Costs. This is a control account in the GMS software and cannot be changed. Watch for the January, 2017 GMS Newsletter for the next article in the Cost Allocation Series – Cost Allocation Summary. This article will tie together the first three pools discussed in this series! 
Join us in congratulating Marilee Floener, RLSS Director, on 21-years of service this month. Thank you Marilee! Watch for Next Month's Emails
When we revise our software we send an email notice that the current revisions to the GMS Accounting software and Revolving Loan Servicing software are available on our website. It is important that every-one download and install these revisions in a timely manner, but this is especially important in December when the updates for W2, 1095C, 1099 and 1098 forms are included. Also included in the revisions will be an updated Help Manual containing instructions for these forms. If we do not receive the 2016 tax changes in time to include them in the December revisions, a separate email will be sent notifying you when these changes become available.
Electronic W2 Filing Requirements to States
Make sure you know what your state requirements are for filing electronic W2 forms. Most states have a requirement that W2s must be reported electronically when you have a certain number of employees to report. In some states, this number is being reduced each year. Be sure to check your current filing requirements and find out if your state accepts the SSA format or requires a special format. All requests for adding special state file formats must be received in our office prior to November 30, 2016. In addition to the states that have electronic filing requirements, for most states the electronic filing method is the recommended procedure. Please make sure you are familiar with your state(s) filing proce-dures as well as any requirements for local taxing jurisdictions.
Supplement #400 W2 Electronic File Reporting can help you meet your electronic filing needs. In addition to the file that is transmitted to the Social Security Administration, the supplement creates the electronic file for various state submis-sions that won’t accept the same format as the SSA. As of 2016, states that have special formats, meaning they differ from the standard SSA format, are Alabama, Arkansas, Georgia, Indiana, Kentucky, Maryland, Nebraska, Ohio, Oregon, Pennsylvania, Utah and Vermont. There are also special electronic reporting needs for the cities of Warren, Ravenna, Dayton and RITA, Ohio. Our E-filing supplement will meet all of those needs. Orders for this supplement may be placed via our website at http://www.gmsactg.com/w2-electronic-file-reporting.html The purchase price is: 1-2 users: $120.00/$40.00 annual license/maintenance 3-4 users: $150.00/$50.00 annual license/maintenance 5+ users: $190.00/$63.00 annual license/maintenance |
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Welcome DBAS
In October, GMS President/CEO Donald Cassady and RLSS Director Marilee Floener traveled to American Samoa to install both the GMS Accounting and GMS Loan Software for the Development Bank of American Samoa (DBAS) and train the employees in how to use both systems. DBAS’ President Ruth Matagi-Fa’atili is shown with them in the photo on the left. Additionally, they had the opportunity to meet American Samoa’s Governor Lolo Matalasi Moliga (right photo). We wish to extend a hearty welcome to DBAS!
In October, GMS President/CEO Donald Cassady and RLSS Director Marilee Floener traveled to American Samoa to install both the GMS Accounting and GMS Loan Software for the Development Bank of American Samoa (DBAS) and train the employees in how to use both systems. DBAS’ President Ruth Matagi-Fa’atili is shown with them in the photo on the left. Additionally, they had the opportunity to meet American Samoa’s Governor Lolo Matalasi Moliga (right photo). We wish to extend a hearty welcome to DBAS!
RLSS Supplement #808 Year-to-Date Activity
At the end of the calendar year, you may want to consider giving your loan recipients their loan activity history for 2016. By doing this, they will be able to see at a glance their payment history for the year and how these payments were distributed to principal, interest, and other fees, plus their declining loan balance. By allowing them to review their history annually, this will help you to catch in a timely manner any payments that were not applied or any errors that may have been made. Supplement #808 Year-to-Date Activity is a great mechanism to use for this.
Further, when auditors come to your agency, they are typically auditing a specific period of time. They will most likely ask to see all loan disbursements and repayments that took place during the audit timeframe. This supplement is also an excel-lent tool to allow you to give this information to them for the specified period of time.
This supplement will allow you to specify the beginning and ending date range for which you wish to retrieve the Loan Activity history report. It will compare this date range with the activity dates entered when posting transactions and include only those entries.
In addition to specifying the date range, you may select a range of loan numbers, to print in alphabetical or numerical order, and if you wish to see the detail of every transaction for the specified timeframe or if you just want to see the summary of these transactions. You may also select to include only a specified activity type.
Additionally, the standard report selections of include all funds, counties, cities, status, loan officer, loan type and borrower type are available for you to further include/exclude loans to meet your needs and/or auditor’s requests.
The purchase price is:
1-2 Users $220.00 and $30.00 annual license/maintenance
3-4 Users $250.00 and $37.50 annual license/maintenance
5+ Users $280.00 and $42.00 annual license/maintenance
Feel free to contact GMS staff if you have questions. Orders may be placed via our website at www.gmsactg.com or by contacting our Maryland office at 800-933-3501 or emailing service@gmsactg.com.
Further, when auditors come to your agency, they are typically auditing a specific period of time. They will most likely ask to see all loan disbursements and repayments that took place during the audit timeframe. This supplement is also an excel-lent tool to allow you to give this information to them for the specified period of time.
This supplement will allow you to specify the beginning and ending date range for which you wish to retrieve the Loan Activity history report. It will compare this date range with the activity dates entered when posting transactions and include only those entries.
In addition to specifying the date range, you may select a range of loan numbers, to print in alphabetical or numerical order, and if you wish to see the detail of every transaction for the specified timeframe or if you just want to see the summary of these transactions. You may also select to include only a specified activity type.
Additionally, the standard report selections of include all funds, counties, cities, status, loan officer, loan type and borrower type are available for you to further include/exclude loans to meet your needs and/or auditor’s requests.
The purchase price is:
1-2 Users $220.00 and $30.00 annual license/maintenance
3-4 Users $250.00 and $37.50 annual license/maintenance
5+ Users $280.00 and $42.00 annual license/maintenance
Feel free to contact GMS staff if you have questions. Orders may be placed via our website at www.gmsactg.com or by contacting our Maryland office at 800-933-3501 or emailing service@gmsactg.com.
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