Corrections in WinMORE
DUE DATE: December
On an annual basis all associate information should be confirmed to be correct in the Market Center systems. There is a Personal Information Update form on KWConnect (Resources - Leadership Hub - MCA Resources - MC Operations) that is useful to request updated information from associates and also serves as documentation for any changes made. Make sure you maintain copies of this documentation.
When the associates inform you of errors, the corrections must be made before transmitting December data.
- Tax ID # Errors - Make the necessary changes in the Enter Associates and Companies records. This change will instantly correct the Tax ID# in the Year End – Edit Recipients and Year End – Profit Share History Confirmation and Report.
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Address Errors - Make the necessary changes in the Enter Associates and Companies records. This change will instantly correct the addresses in the Year End – Edit Recipients and Year End Profit Share History Confirmation and Report.
NOTE: Changes made here do not change White Pages entries. - 1099 Total Errors or Missing/Incorrect DAs - All errors in DAs must be corrected via an Adjustment DA to ensure that the Form 1099 information is correct when they are export and then printed in January. Click here to learn more about form 1099 processing, exporting and printing.
It is essential that all associates’ closings be booked correctly in WinMORE before December is transmitted.
Adjustments in AccountEdge
Update agents & company card files in AccountEdge to reflect address changes
It is best practice to consult the Market Center’s CPA before transmitting December data. This proactive step will assist the CPA in preparing the Market Center’s tax returns, and minimize CPA adjusting entries in the New Year.
Please see article ‘Tasks - AccountEdge - CPA Adjusting Entries (U.S. & Quebec) article in the Knowledgebase on how to enter CPA Adjustments.
Adjustments in Lonewolf
It is best practice to consult the Market Centre’s CA before transmitting December data. This proactive step will assist the CA in preparing the Market Centre’s tax returns, and minimize CA adjusting entries in the new year.
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