One thing we've learned over the years as a software publisher is that unless you are planning on sunsetting a legacy application, you are never "done" with development. There will always be defects to correct, enhancements to perfect, and features to add. And so as another year draws to a close with just one page left on the calendar, yet another end-of-year update for SYMPAQ will soon be made available to our clients. It is important that we, within reason, add enhancements requested by our users along with those updates necessary for processing year-end filing chores.
Among the features provided will be the updated tax forms for Accounts Payable 1099 and Payroll W2 processing. As was the case with the past tax form filing season that took place earlier this year, if you have more than ten combined forms for 1099s and W2s, you must file your forms electronically. Together with our e-filing partner Yearli, we have updated the output files for calendar year 2024. The good news is that there are very few significant changes from calendar year 2023. The 1099-Misc and 1099-NEC forms were updated by the IRS in January to remove the Copy C "File copy", but that is about the extent of it. The W2 and W3 are identical from those of 2023 except for the year 2024 on the printed forms.
A question that we have often received through the years is, "Have you updated your software to address any changes made to the Federal Acquisition Regulations (FAR) with respect to DCAA compliance?". In the thirty-plus years we've been providing updates, rarely if ever has a change to the FAR necessitated a change to SYMPAQ whether it be at year-end or otherwise. Instead, the majority of changes have to do with tweaks to the functionality or to the user interface to incrementally make the software a better user experience. When you look at the broader feature set of any accounting system built for government contractors, a relatively small amount of functionality is provided for compliance with DCAA audits.
We always look forward to this time of year where we can proudly announce another update to SYMPAQ. And as we enter the holiday season as 2024 winds down, we wish everyone a happy and safe holiday season and best wishes for 2025.
