Modern technology allows criminals to create forged cashier’s checks that are virtually indistinguishable from legitimate cashier’s checks. As a result, it may take a surprisingly long number of days, even weeks, to catch the forgery. But even when it is uncovered, the victim will still be in the same pickle, since financial institutions will take the position that the person who deposited the check with them is responsible and will charge it back against the depositor’s bank account. This can be devastating, particularly if the account is a law firm trust account.
To help make sure that you or others in your law firm do not fall prey to such devastating consequences, watch the webinar recording to learn more about what to look for in a legitimate check and how to make sure your checks have enough security features to ensure you’re protected against check fraud.
The end of the year can be a busy time for any firm. One of the areas that firms will need to address in the coming months is the filing of IRS 1099-MISC forms. Tabs3 Accounts Payable Software (APS) and Trust Accounting Software (TAS) are designed to help ease the burden of year-end by making it easy to assemble the 1099 reporting information you need. APS and TAS allow you to view 1099 information on reports, print out 1099-MISC forms for filing, or create a 1099 Disk File which can be used to electronically file with the IRS. Using both APS and TAS together allows you to create a combined file by merging your TAS data into APS to run one set of 1099 forms or create a single electronic file.
Continuous 1099 forms can be ordered directly from the IRS. However, for laser printer forms, we recommend ordering 1099 forms from Nelco®. These forms are guaranteed 100% compatible with the APS and TAS software. Likewise, you can order W-2 Wage and Tax Statement laser forms from Nelco. Nelco is a leading expert on W-2 and 1099 reporting compliance rules and regulations. So when you work with Nelco, you won’t have to worry about keeping up to date with all the yearly reporting changes.
Contact Nelco if you have any questions regarding your W-2 and 1099 filing, or to order your forms.
For more information about using the 1099 features of APS and TAS, refer to the “1099” Help topics for each program, which include checklists for generating 1099 information.
The Tabs3 Accounts Payable Software (APS) makes paying bills easier. You can print checks, track vendors, generate 1099-MISC forms, run reports and check registers, and more!
APS lets you write checks to saved vendors as well as vendors that are not individually tracked in the software. For monthly payments, set up recurring entries to create multiple invoices in one step. Writing a check by hand? Enter a manual check that will show up in your check register.
Tracking vendors is a snap. In addition to name and address, you can save information for frequently used vendors such as the Federal ID number, 1099-MISC information, vendor discount information, and more! Month-to-date, year-to-date, and to date paid figures for each vendor are also tracked for easy reference.
APS integrates with Tabs3 Billing and Tabs3 General Ledger Software (GLS) to bring things together. Costs can integrate with Tabs3 when adding, changing, or deleting an invoice or manual check. When integrating with GLS, journal entries are automatically created when checks are posted, and voided checks will create reversing journal entries.
APS also offers many reports that can be run to determine activity in the software, including a Check Register, Pre-Check Register, Cash Requirements Report, Aged Unpaid Invoice Report, Vendor Analysis, and lists for vendors, bank accounts, recurring entries, and voided checks.
If you are not currently using APS, try it out! You can install APS Trial Software using the Tabs3 CD, or download a free trial. Contact your Tabs3 reseller or consultant, or our Sales Department at (402) 419-2200 for pricing and information.
Note: Tabs3 works exclusively with Nelco to provide you with checks guaranteed to work with Tabs3 software.