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Preparing Your Hosted Deltek Costpoint System for 2011 Year-End

At calendar year-end, there are a number of important procedures and updates to perform in Deltek Costpoint, in order to successfully wrap up your final accounting processes for the year. These steps also prepare your Deltek system for the new accounting year. And, if applicable for your organization, year-end processes help close your fiscal year and initiate a new one.

Generally speaking, the Year-End update cycle for your Deltek system includes:

• Steps for processing year-end Payroll and Accounts Payable
• State and Federal tax rate and withholding changes for new-year Payroll
• Annual 1099 and W-2 form changes
• Procedures and controls for a fiscal year-end close.

Deltek provides numerous documents, knowledge-base articles and videos on its support website that address the Costpoint year-end updates and procedures. For your convenience, here are some important highlights courtesy of Deltek, organized into three summary documents, as well as a link to Deltek’s Year-End Information Center. 

** In support of our hosted customers' year-end activities, on Friday, December 30, 2011, TBS engineers will install Deltek's 2011 Year-End Regulatory Update for our Costpoint application platform. This update will be performed for ALL TBS customers during our regular maintenance window of 12:00AM to 2:00AM Eastern Time.

Though this update requires no action by our Costpoint customers and users, it is important to note that because Deltek recommends the Year-End Update be performed before the first payroll of 2012, all customers must complete their final 2011 payroll and any final payroll adjustments by December 30. 

For more information, contact TBS support by email or call 703.444.6562.