Imagine a
manager who wonders why certain initiatives are failing.
He asks IT for a report. Half a day later, the report
arrives, but it doesn’t answer all his questions. He
asks for a new report. Days of back and forth ensue
while operational losses continue to accumulate.
Managers
struggle to get custom reports because creating and
modifying reports is a time consuming task for IT.
DataSelf Business Intelligence (BI) provides the obvious
alternative: its user-friendliness allows decision
makers to fulfill anywhere from 70 to 100 percent of their reporting
needs without help from IT.
Let's talk shop: job cost or
project accounting?
The
questions to ask to find out which module will best work
for you
The line between a manufacturer and a job cost or job
shop company can run thin, and for some companies they
overlap, especially if your organization is
manufacturing goods that you will sell on a job.
Luckily, we have a definitive product, Sage Pro ERP Job
Cost module that allows you to trace costs to individual
units of output by means of defining a specific contract
with job numbers, phases, categories, cost types, job
cost items, and the full use of bill of materials, for
batches of goods, jobs or services that you provide your
customers.
Organizations like print shops, custom home builders,
and custom machine manufacturers use job cost systems.
So do companies that produce on cost-based contracts,
such as defense, highway, and other type of contractors.
Many non-profit organizations use job costing software
to account for individual projects. Service
organizations also want to track labor and costs that
determine the cost of each job performed.
Now, that you know you want job costing capabilities,
you might be asking…How do I know if I need the Job Cost
or Project Accounting Module?
Read the full article by Karen Smart of Smart
e-Solutions
The year is drawing to a close - get
ready for taxes!
A little time spent now to get ready for tax season
will pay off big time - we know this from experience
working with our clients over many year-end planning
sessions.
What's year-end planning? Its primary task is to make sure that you have
reconciled the general ledger balance sheet accounts.
That is to verify the cash balance to the bank, to
reconcile the accounts receivable, accounts payable,
inventory control, un-billed purchase order receipts and
any verification on loan balances and liability accruals
that you might have for the year.
The theory is, if your balance sheet has been reconciled
to the actual balances, and all is correct, the income
statement MUST be correct. The items could be in the
wrong account, but the balance in the income statement
will be correct.
After a full year of activity, it's always a good idea
to do some housekeeping on the general ledger to be sure
all of the revenue, cost of revenue and expenses are
listed correctly.
This housekeeping exercise will make it easier for your
accountant to prepare your year end returns.
Year-end planning webinar
December 18
For those who are new to this process, or need a
refresher course, we've scheduled a webinar on December
18, as part of our Lunch Bytes program. We will cover
the following tasks:
1- Release all modules to the General Ledger.
2- Update the General Ledger to be current
3- Verify the balances between AR/AP/IC to reconcile
with the controls. How to do the reconciliation.
4- Reports to run to get the General Ledger into balance
with the other modules.
Register at 866-400-0922 or email us at
inquiry@wacconsultinggroup.com.
Please note that seating for our Go to Meeting sessions
is limited.
Off the beaten path: our book
recommendation
Daniel Pink: A Whole New Mind - Why Right-brainers
will rule the future.
First it was the agriculture age, then it was the
industrial age, most recently we called it the knowledge
age, and Daniel Pink is here now to tell us that we are
facing the next age, the Conceptual Age.
Beyond the nearly cheesy title lurks not just
thought-provoking concepts but down right controversial
ones. Pink documents the diseases of the Western world:
Abundance, Asia and Automation, and he then gives us his
concepts to help us expand our right brain if we want to
survive and prosper in this next age.
A good read with lots of stories and examples - and
the book is guaranteed to give you food for thought.
Get your Lunch Bytes here!
Want to become more productive with your accounting
system? A good way to get hands-on training is by
attending our hour-long training session at your desk.
Mark your calendar every Thursday at 12:30 pm EST. Click
below to be taken to the November/December schedule.
Register at 866-400-0922 or email us at
inquiry@wacconsultinggroup.com.
Please note that seating for our Go to
Meeting sessions is limited.
