News

Wipfli News

Keeping you up to date on the latest Wipfli news.

Wipfli Announces New LM-2 Module for Labor Unions Using Sage Intacct

Wednesday, October 24, 2018

Wipfli LLP (Wipfli), a top 20 accounting firm in the United States and leading provider of accounting services, consulting and technology, has launched a new product specifically for labor unions using Sage Intacct who need fast and accurate Department of Labor LM-2 reporting functionality.

LM-2 on Sage Intacct is a newly designed for the Sage Intacct Cloud Financial Management software allowing labor unions to streamline data entry, tracking, file generation and submission of the annual LM-2 form to the Office of Labor-Management Standards (OLMS) of the U.S. Department of Labor. This module is tailored to the unique needs of labor unions who need to track accounts payable bill and expense report entries, automatically tracking and calculating transactions against the following LM-2 schedules:

* Schedule 14 - Other Receipts
* Schedule 15 - Representational Activities
* Schedule 16 - Political Activities & Lobbying
* Schedule 17 - Contributions, Gifts & Grants
* Schedule 18 - General Overhead
* Schedule 19 - Union Administration
* Schedule 20 - Benefits

In addition to facilitating invoice and expense tracking, LM-2 on Sage Intacct automatically generates an XML or CSV file at the end of the year in accordance with OLMS for easy submission, saving labor unions time and money.

“The annual LM-2 reporting and submission process has always been a challenge for our labor union clients. We designed LM-2 on Sage Intacct for these organizations to simplify the complex process of tracking, reporting and submitting this form to OLMS. We are excited to announce the general availability of this product,” said Matt Rowley, Partner at Wipfli. “Whether an organization already uses Sage Intacct or is in the process of considering a new financial management solution, we believe this product will solidify Sage Intacct as a leading option for the labor union community.”

Learn more about LM-2 Reporting on Sage Intacct at wipfli.com/LM2-reporting.

About Sage Intacct
Sage Intacct is the innovation and customer satisfaction leader in cloud financial management software. As the preferred provider of financial applications for AICPA business solutions and a solution in Sage Business Cloud, we enable organizations from startups to public companies to improve company performance and make finance more productive. Our award-winning accounting software delivers deep functionality that automates even complex business processes and surfaces the richest financial and operational insights to help accelerate growth.

Sage Intacct is based in San Jose, California, and is an entity of Sage. For more information on Sage Intacct, please visit www.sageintacct.com.