Tag: ERP

Converting Purchases to Fixed Assets in Acumatica Cloud ERP

Acumatica Cloud ERP is one of the many ERP (enterprise resource planning) systems that contain a fixed asset module as part of the application. Having an integrated fixed asset module automates the management of a company’s fixed assets. The automation of this allows an organization to dump their convoluted Microsoft Excel Spreadsheet or Microsoft Access Database for managing the fixed asset process. Using a spreadsheet or database to manage your fixed still leaves you with making journal entries to record monthly depreciation expense and disposal of assets when they are sold or retired. You are also subject to errors during data entry not only of the journal entry itself, but also of the initial setup of the asset in the spreadsheet or database.

April 6, 2015

Why are my General Ledger Cash Account balance and my Checkbook balance different? Part II

In my last blog from February 2015, we discussed the variety of factors that can lead to your Checkbook balance and General Ledger Balance being different and what the corresponding results will be to both balances. In this blog, I would like to address the resolution for each of these issues.

April 2, 2015

Upgrading why should I do it? What are some benefits from upgrading?

Each year there is a new version of your ERP software and the big question is should this be the year that we upgrade. Many may see upgrading as a large project that will take time and resources but what you don’t see are all the benefits you will have from upgrading. These benefits are not always limited to the ERP enhancements with an upgraded software. A lot can happen in the year or two that it has been since your last upgrade. Businesses are constantly changing and the need for more automation and functionality out of your software is always there.

March 24, 2015

Project Budgeting and the Questions You Should Ask

Budgets are one of the 3 pillars that hold-up a project and they ensure that there is enough of “it” to support the other 2, viz. scope and time. All three are just as important but for a successful project implementation a smart budget is at its core.

The PMBOK talks about several methods we can use for budgeting but the one that is my favorite and is most accurate is “bottom-up estimating”. When using this method we break down each task into a smaller component and such a component can be assigned anywhere from 8-16 hours to complete. We then work our way up into estimates of higher-level deliverables.

March 11, 2015

4 Ways to Maximize excel based budgeting in GP

Do you report actual to budget variance and always have a difficult time getting your budget into GP? Below are some suggestions on how to best use excel based budgeting within GP. There are options for users who have budget workbooks outside of GP and just need to load the data as well as users that are just starting the budgeting process and how to build templates and get historical data out of GP for budgeting.

March 5, 2015

Web-Series and the ERP Client

What am I doing? The same thing I have always done? The same thing that hasn’t given me the results that I wanted, that hasn’t helped me hit my goals?

These are the questions businesses are asking themselves all the time. They know what they are doing, they know it’s not working, but they don’t know how to change it. And in the world with budgets, time restraints, managers and employees to answer to the idea of changing what you are doing to get better results can leave you stagnant while you figure out what exactly it is you need to change. And being stagnant means losing money. Who has time for that?

February 19, 2015

Entering a Fixed Asset in Acumatica

Merriam-Webster’s dictionary defines a Fixed Asset as a “tangible object of a permanent or long-term nature. Businesses of all sizes purchase and maintain equipment, computers, machinery, furniture, tools and other items to assist in running their enterprise. Tracking the cost, current value and the depreciation expense of these items is a vital exercise of the accounting department of a business. The accurate accounting of assets is important for annual overall profitability of the business and for accurate income tax calculation. Large organizations, as well as some smaller ones, will use some sort of fixed asset tracking software. Asset tracking software allows companies to track what assets they own, where they are located, how much they cost, the monthly or annual depreciation expense and their current value.

February 12, 2015

The Importance Upgrading

We often say that accounting systems are “sticky”. Once you find one that works for your business you feel locked in because of:

1. The cost.
2. The fact that you need it up and running every single day so that your business can function efficiently.

The problem is that most organizations are constantly evolving and changing and re-evaluating their needs. You may now need functionality that was not initially needed when you implemented the system. How do you rectify this without starting from scratch with a new system? It’s actually quite simple; you upgrade your current system.

February 10, 2015

How to Pay Employee Expenses by EFT (Part 1)

Why Pay Employee Expenses as an EFT (Electronic Funds Transfer)?
1) Ensure Employees receive their expense reimbursements in a timely manner
2) Save time not printing checks / getting checks signed / stuffing envelopes / mailing payments
3) Automatically Email EFT Remittances to Employees

Steps to Setup the Company Side of the EFT Transaction

Setup Company EFT Information (You will need to work with your Bank for the file layout specifications and preferred transmission method)
1) Go To Financial >> Cards >> CheckBook
2) Select the Appropriate CheckBook

January 2, 2015

Kick-Start Your Data Warehousing

Many of the projects that I’ve been working on over the last 12 months have evolved integrating data into a data warehouse. Specifically companies are looking to import more data from other systems to do various types of analysis. Data integration is nothing new, companies have been doing it for a long time, but usually with a very manual process that includes vast Microsoft Excel spreadsheets.

What Is a Data Warehouse?

A data warehouse is a database designed to enable reporting and data analysis activities. Data warehouses store current and historical data from one or more disparate sources. Some of these sources may include:

December 12, 2014