Scott Gottlieb, CPA

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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





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The materials on this Web site are for informational purposes only and are not intended and should not be construed as accounting advice. This information is not intended to create, and receipt of it does not constitute, a CPA-Client relationship. You should not act upon this information without seeking counsel from a Certified Public Accountant