Tax Processing

2007 Tax Processing

Important Tax Information for End of Year Processing

Note: if you do not delete closed accounts during your month end process, this notice does not apply to you

It has come to our attention that if you are deleting (purging) closed accounts, you may experience issues with your 2007 tax processing. During your December month end close process, YTD information will be zeroed out first and then the deletion process will run. Therefore, YTD information for accounts that were closed in 2007 will be cleared and the accounts will qualify for deletion. This process causes them to be erroneously removed from the 2007 tax processing information.

There are two ways to eliminate this situation:

Turn off the Auto Delete Members in Setup and turn back on after closing the year.
Process your tax information prior to closing the year

To verify whether or not you are setup to delete closed accounts automatically, go to Setup and Deletion Setup. If Auto Delete Members is set to Yes, you are automatically deleting closed accounts and this issue may apply to you.

If you have already closed December and feel you may have accounts that were affected you can run a Deleted Accounts report found under Non-Financial Reports to see a listing of accounts removed in the deletion process. If you had accounts affected you can restore to your backup completed prior to close and then follow one of the two above options and perform the month end close again. If you have any questions or concerns, please contact Mercury Client Services at cusupport@fnis.com.

Your Tax Processing Status

	IRS Form 6847
	Before we can process your taxes, we MUST have your signed, IRS Form 6847 on file. Click on the link below to download the form in Acrobat PDF format. Print the form on your printer, fill it out and mail or fax it to us as soon as possible. IRS Form 6847