First Option Newsletter

December 2021
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Hope you are well.

We are approaching the end of 2021 and it's time for our annual newsletter. 
 
The IRS has changed the 1099-NEC printed form to a 3-up copy. For the Recipient or Payer/State Copies, only the 3-part perforated paper will be accepted – the 2-part perforated paper used in 2020 (or prior) will no longer be accepted. You can order the 3-part perforated paper from Staples or Nelco.

First Option has programmed the 1099 NEC forms to meet this new requirement. The deadlines remain the same as last year for both forms.


Please note, we are only supporting Laser forms this year. Please contact the helpdesk for installation instructions for 1099 filing. 

It is important to note that e-filed Form 1099-NEC will not be forwarded to states. 
 
First Option has upgraded to a new version of the GUI that will now be browser independent.
Please see below for the enhancements that come with this new upgrade.

We have also upgraded to a new and improved version of our current Help Desk Software to better serve our customers. The article below discusses this in more detail and there is a document with screen shots for your review.

For year end, we have some sample knowledge base entries that you may find helpful and have added our holiday schedule for 2022.
 
 
Happy Holidays!
 
Wishing you peace and good health in the New Year.
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In this Issue

  • FOIGUI Upgrade
  • FOI Helpdesk Upgrade
  • 2022 Deadlines
  • Knowledgebase Entries
  • 2022 Holiday Schedule
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FOIGUI Newlook Version Upgrade
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First Option has completed a significant version upgrade of the GUI product from version 10.1 to 11. Version 11 is an entirely new code base from previous versions. In previous versions of Newlook (version 10 and below), the top-level Smartframe container was an MS Internet Explorer (IE) browser window, containing an HTML page. This HTML page instantiated a Newlook Active X control.
 
From Newlook 11.0 onwards, the top-level Smartframe container is no longer an IE browser window. It is now a stand-alone executable, looksoftware.SmartFrame.exe, which contains its own Chromium-based browser, used to render and execute the specified Smartframe template's HTML, CSS and Javascript files. The Newlook Active X control has been replaced with a Newlook control, which interacts with the HTML page, based on the properties specified in the newlook object tag, within the parent HTML. There is no need to have any browser installed on end user machines, Smartframe will run on a clean Windows environment.  

First Option Help Desk Upgrade
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As of January 2022, First Option will be upgrading the current help desk and ticketing system to a newer version. This version will give us better analysis of the nature of tickets, and an improved search system for the knowlegebase using advanced key word technology.

For the user, not much will change. You will be required to reset your password and we will send instructions once we are fully live. The news section and troubleshooter applications have been archived and instead of "submit a ticket" you will see "Start a Conversation". The process for entering a ticket and searching the knowlegebase will remain the same.


2022 Deadlines for W-2s and 1099's
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Businesses are required to file their copies of Form W-2, submitted to the Social Security Administration, by January 31st 2022. 

Note: 1099's will now be filed on 3 up forms instead of 2 up.
Form 1099-NEC should be filed with the IRS on paper by January 31st 2022 or electronically by February 1st, 2022.
Form 1099 MISC should be filed with the IRS on paper by February 28th 2022, or March 31st, if filing electronically.
Knowledgebase Entries
1099's

Question:
What options do I use to print 1099-NEC and 1099 MISC?
 
Resolution: 
 
Note: 1099's will be printed on 3 up forms this year.
 
 
 
 
Accounting Period Open/Close
 
Question:
How do I change the G/L accounting period open/closed flags if I have already cloned them from a previous year?
 
Resolution:
To access and change the Valid for General Ledger fields in the Accounting file, and if you have cloned the accounting period and therefore copied the Closed period fields;
Use #14-Update Accounting Period Flags on the G/L Supervisor menu. 
Enter the Corp# and year that need to be changed and press ENTER. In the column 'Valid for G/L' key a 'Y' to allow entries to be posted into the period or an 'N' to prevent entries from being posted.  
 Open New Year
 
Question:
How do I open a New Year for Accounts Payable and General Ledger?
 
 
Resolution:
Create the accounting period for each Corp/Fund for the new year. (this example is from 2021 to New Year 2022)
You can easily clone from one year to the next using Option 18 -Clone Accounting Periods, from the General Ledger File Maintenance menu.
You will need to key in the Corp/Fund and the "from" year 2021, then the same Corp/Fund and the 'To" year 2022, at the copy period closed area, key in a "N" and the following fields will appear.
From Corp# : 2 To Corp# : 2 
From Year : 2021 To Year : 2022
Copy Period Closed Data . . . .: N (Y,N) 
Set 12 months to Yes or No 
Valid For GL . . . . . : Y 
A/P Closed . . . . . . : N 
A/R Closed . . . . . . : N 
Set the Valid for GL, AP Closed, and AR Closed as shown above. You will need to do this for all Corps/Funds.
2022 Holiday Schedule
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Click the link below for our 2022 Holiday Schedule.