Are you ready for 2021?

End of Year information for the EBMS Administrator

EBMS Support Center > 2021 Year End Information

EBMS makes it easy to close the old year, open the new year, and update tax and payroll information. There is no need for a January 1st crunch to get the old year completed. Opening 2021 by mid-December ensures a smooth transition into the new year! As new tax and end of year information is released, we will be providing it here and sending out emails. Subscribe to the email list here.

EBMS version 8.2 or newer is required for the updates. To verify your EBMS version go to Help > About EBMS. If your version reads 8.1 or older please contact Support@EagleBusinessSoftware.com as soon as possible.

- EBMS Support Team

Year End Webinar
Year End Webinar

Join us for 60 minute training session.
Thursday, December 17th, 2020 at 2pm.

Reserve a Spot
Year End Checklist
FAQ

Check these answers to common questions.

 

FAQ's
Year End Checklist
Year End Checklist
Save or print this checklist to guide your transition into the 2021 New Year.



View Checklist
Year End Checklist
Open Fiscal Year 2021
The fiscal year 2019 should be closed and the fiscal year 2021 should be opened in December of 2020.  This only applies if your business operates on a calendar year.


Step-by-Step
Year End Checklist
Close Payroll Year 2020 & Open Payroll Year 2021
Use the checklist below to guide your end of year payroll processes including processing bonus pay periods, opening year 2021, updating tax tables, and preparing W-2's.

View Checklist Step-by-Step

Inventory Reconciliation

Use these guidelines to make sure your inventory is reconciled before the end of the year. 

Checklist Watch Video
Coming November 2020
1099 & 1096 Forms
1099 Forms

The Form 1099 is used to report various types of income other than wages, salaries, and tips (for which Form W-2 is used instead).

Order Forms Step-by-Step
Coming November 2020
1099 & 1096 Forms
W-2 Forms
W-2 Forms can be printed for the past year after the payroll year is closed and payroll has been entered and processed within the new year.  2020 forms are expected mid-November. E-filing utilities are expected in January 2021.
Order Forms Step-by-Step E-Filing Utilities
Coming December 2020

2021 Payroll & Tax Update

The 2021 Payroll and Tax Update is expected to be available the last week of December.

View the W-4 tax withholding changes that are included.

*Login Required

Install Update Step-by-Step
Coming March 2021

941 Form

The 941 form for 2021 is expected in March 2021.

Update Form

Contact EBMS Support if you have problems or questions with any of these processes.

NOTICE: This web page and its contents are subscription plan benefits and are only intended for your company. This includes the payroll tax updates and any other information downloaded from this website. Any other use is prohibited. All procedures and checklists are suggestions only and may not apply for your business.