E-NEWS MARCH
SUMMIT 2023 COUNTDOWN
Attention Summit Attendees:
Lookout for the GMS Event App which will be made available for download to your mobile devices on May 26, 2023. Alternatively, you will be able to access the GMS Event Web application via your computer for this Summit 2023 event. All Summit 2023 related detail including sessions , speakers and schedule will be found within this GMS Event App.
IRS Expands Electronic Filing Mandate in 2024
On February 21, 2023, the IRS finalized its regulations mandating that beginning in 2024, organizations that file more than 10 returns or statements, are to do so electronically. Though this is a dramatic change from the prior tax years, GMS ensured you were kept abreast of this change. Refer to TD 9972 for more information.
It is very important that you apply for and or update your SSA User ID and the relevant Transmitter Control Codes (TCC) as soon as possible.
Please note that the TCC for your Affordable Care Act Returns (AIR) differs from the TCC for 1099 and 1098 of the IRS Filing Information Returns Electronically System (FIRE).
The IRS introduced ID.me as the medium to create an account to make the verification and validation process smoother. You are now required to create an ID.me account before applying for your TCC for the AIR and FIRE systems. Even if you had a TCC from before you will have to go through ID.me to verify or certify that you are who you are.
Form 941 Changes for 2023
Though there are no significant changes, GMS has updated 2023 Form 941 to reflect the minor revised changes released by the IRS.
These changes will be reflected in the next revision update release 2.4.94.182.
Maximizing GMS Performance
There are two procedures that you should be following routinely to assure that the GMS Accounting and GMS Revolving Loan software are performing at their optimum ability. First is to make sure that you have downloaded and installed all available updates. This applies to the GMS revisions we send to our clients as well as all appropriate updates from Microsoft. These need to be done in a timely manner and you may want to have a conversation with your IT personnel to assure that the best update procedures, for all sources, are in place. To determine if you are using the latest version of GMS accounting or revolving loan, when logged in to your software, click on Help\About and compare the version number listed with the GMS Latest Versions displayed at the top of the latest E-News release.
Second is to make sure you do your daily compact and repair if you are using the Microsoft Access version of the accounting or revolving loan software. Take advantage of the GMS Backup utility for this purpose. As you use a database and add transactions, the database is naturally going to get larger. Also, during the normal operation of GMS software, empty spaces can be created within the database. These empty spaces may cause items to open more slowly and normal operations may generally seem to take longer. The compact and repair step will remove these empty spaces and help your accounting or revolving loan software run smoother.
If you are using the SQL version of GMS software, your IT person or database administrator should write a maintenance plan for the management of the database(s). Two options to select (among many) within the maintenance plan are the frequency of a database backup and the “shrink” process. The “shrink” process for SQL databases will have the same desired effect as the compact and repair of an access data-base in that it removes the empty spaces, thus speeding up the database performance.
Introducing Summit 2023 Keynote Speaker,
Craig Karges
GMS is pleased to introduce Craig Karges as the Keynote Speaker for Summit 2023. He is a multitalented entertainer, and nationally recognized speaker and an author with more than 5000 appearances in 27 countries on four continents and all 50 states, Craig Karges is truly extraordinary.
Select the number of Attendees, then select ‘Register Here.’
REMINDER
If you are planning to attend Summit 2023 in June at the Don CeSar, St. Pete Beach FL., please make your reservations timely to take advantage of the special discounted room rate provided upon completion of your Summit Registration.
GMS RLSS Fall Regional Training
Registration will be opening soon.
The GMS RLSS Fall Regional Training will be held on September 13th, at the Hyatt house Denver airport in Denver, CO.
Visit GMS University for more details.
