NEWS
BYTES
June 1998
Editor:
Scott Gottlieb, CPA
Assistant editor: Susan A. Maffetone, CPA
The
Year 2000
As
I discussed last month, the year 2000 can affect many aspects
of your business. I have listed some of the items you
should discuss with the managers of your company.
I.
Accounting Systems
Contact your vendors for every accounting program you use.
Make sure that any older systems are updated or your information
transferred.
II.
Potential Risks with Suppliers, Customers, Banks and Government
Agencies.
1.
Suppliers that are not Y2K, compliant may not be able to deliver
materials on schedule after 12/31/99, or deliver invoices for
them.
2.
Customers that are not Y2K compliant may not be able to generate
checks to pay invoices after 12/31/1999.
3.
Banks that are not Y2K compliant may not be able to release
funds or process loans after 12/31/1999.
4.
Building departments that are not Y2K compliant may not be able
to process building permits after 12/31/1999
III.
Facility systems and Building Equipment
1.
Fire and life safety controls
2. Emergency power systems
3. Chillers
4. Boilers
5. Heating, ventilation, and air-conditioning
6. Elevators
7. Security Systems
8. Electrical demand
9. Load shedding
Next
month, what to do about the Y2K problem.
Accounting
Software tips of the month
Software Bugs
On your browser, keep in your favorites folder, easy access
to the web sites of all your accounting programs. Try
to check on the site for any updates or fixes. The time
you spend browsing their sites will be worth every minute if
you a bug before your worksheet does.
June
Words of Wisdom:
Get
your tax receipts together now. If you can get into the
habit of organizing them once a month, there will be no last
minute running around in April.
And
don’t forget to add this to your bookmark or favorites
menu to help you in visiting us monthly.
Other
issues of NewsBytes see our archives
.
