Dear AccountMate Clients,
With the U.S. economy currently in a rough spot, I’m reminded of the last time we, or at least the technology sector, were in a similar situation – back in 2000/2001 – and a comment I heard then that turned out to be true. It went something like this, “Times of economic hardship are actually GOOD for businesses – as only the strongest and best survive, and then during the recovery the weak performers have been weeded out.”
We were a fairly young company back then and didn’t know if we’d be one of the survivors, so I took little solace in the statement at the time. But it did hold true – and now that we’re getting ready to enter our 12th year of operation and there’s another downturn that will weed out the weaker players, I know excellent opportunities lie on the other side!
All we have to do is “get there”, right? So, how do we do that? That’ll take smart business moves, which require correct and timely business information to base them on – which is one thing I know we have with AccountMate.
Simply put, businesses that don’t have good information at their fingertips aren’t going to be able to make the best/correct decisions required to survive – so you’re already way ahead of the curve. But are you using your financial management software as well as you could be? What areas, with just a little bit of work, will yield big dividends in return? The answers are probably in the classic list of business functionality we work at improving every day: tighter inventory control/tracking, Internet and EDI integration, customer-relationship-management, improvements in customer returns (RMA) procedures, capitalizing on up-sell/cross-sell opportunities, etc.
So, while businesses without the flexible tools just “hunker down” and try to trim nickels and dimes from their operations, now is when forward thinking organizations are focusing on what it takes to get to the other side – and will reap the rewards when they do!
Happy Holidays to all, and we look forward to seeing you on the other side.
Regards,
Kevin E. Stroud
NexLAN, LLC
https://nexlan.com
Free Period/Tax/Year End Closing Webinars
AccountMate is hosting FREE webinars in December on procedures for closing of fiscal periods, tax years, and fiscal years. We expect these to fill up quickly, so please respond promptly with your preferred dates/times if you’re interested.
Period-End Closing in AM 7 will be held on December 12 from 10-11 PST, covering the recommended procedures to close the period in the subsidiary modules. It will also identify some common issues which may arise during the closing process and how to resolve them.
Closing the Tax Year in AM 7 will be held on December 15 from 10-11 PST and is specifically for closing the payroll tax year when the company’s fiscal year does or does not end on December 31. Also discussed are the reports affected by the tax year closing process.
Year-End Closing in AM 7 will be held on December 17 from 10-11 PST to discuss the requirements and procedures for closing the fiscal year. Some tips to help effectively perform year end closing will also be discussed.
If you are interested in attending a seminar please hit <reply> to this e-mail, or send directly to nexlan@nexlan.com, with the date and webinar you would like to attend and we will be glad to get you registered. Seating is limited so please do register early if you are interested.
Free Vertical Solution AccountMate Webinars
AccountMate is continuing to offer a variety of webinars from integrated Vertical Solution Partners. All webinars are one hour long from 12:00pm to 1:00pm CST and are listed below. If you would like to attend please contact us, by replying to this e-mail or sending an e-mail to nexlan@nexlan.com, to sign up for the webinar.
DocuFire December 16 – the easiest way to Fax and E-mail from AccountMate LAN and SQL. Fax and E-mail Invoices, Statements, Quotes, Sales Orders, Purchase Orders, right from your desktop.
ACCU-DART December 18 – real time inventory management solution. Using radio-frequency scanners, it allows the warehouse staff to instantly process transactions.
AccountMate SQL 7.5 New Features Webinar
AccountMate is having a FREE webinar December 10th (12-1 CST) to demonstrate the numerous features and benefits added in SQL Version 7.5. If you would like to attend please contact us, such as by replying to this e-mail, to sign up for the webinar
2009 Payroll Tax Subscription
The 2009 Payroll Updates will be available for download towards the end of December and we’ll notify you when they’re ready along with download details and instructions.
You are welcome to perform the update yourself, however about 90% of our clients prefer to have NexLAN handle the process. If you’re not “feeling geek,” please contact us and we’ll schedule time to implement the updates in your system.
Remember: The update must be installed after the last payroll run of 2008, and before the first payroll run of 2009!
Tech Note: Pricing Hierarchy in the Purchase Order Module
AccountMate’ Purchase Order module tracks unit cost information that may be used as the default price in future purchases. Since there are a few sources for this default price, it is important that users understand the hierarchy in which these are used so they can properly configure their system to meet their needs. This week’s article identifies the sources for the default purchase price and the hierarchy in which they are used in AccountMate. Click the title of the article to access the document. This TechNote contains a link to a downloadable PDF version of the article.
Article 1180: Pricing Hierarchy in the Purchase Order Module
Tech Note: Period and Year End Closing Procedures
These four TechNotes cover the different facets of the AccountMate year-end closing procedures. These focus on key aspects of the period-end closing process. The first two present the recommended procedures for closing the period in the non-GL modules. They also address some of the more frequently asked questions about period-end closing. The third article identifies some of the more common errors that may be encountered during closing and provides instructions on how to resolve each issue. The fourth article focuses on key aspects of year-end closing.
Period-End Closing Procedures (for AccountMate 7 for SQL/Express)
Period-End Closing Procedures (for AccountMate 6.5 for SQL/MSDE/LAN)
Common Closing Errors
Year End Closing Procedures
Tech Note: W-2/1099 Year-End Closing
This TechNote covers the year end closing in the Payroll Module. Discussed are the procedures for closing companies with fiscal years that do no match the tax year.
Performing W-2/1099 Year-End Closing in AM7 (SQL/Express)
Perform W-2/1099 Year-End Closing in AM6.5 (SQL/Express/LAN)
Holiday Closings
NexLAN will be closed on Thursday, December 25, 2008 and Thursday, January 1, 2009. If you don’t have our latest emergency contact list, hit <reply> and we’ll gladly send you a copy.
Technical Tips
Versions: AM7 for SQL and Express
AM7 for LAN
Modules: AR, AP
Q: What is the proper method to print an AR refund check?
A: To print an AR refund check, perform the following:
- Access the Refund Open Credit function in the Transactions menu of the AR module.
- Verify that the Refund Type selected is Check (in AP).
- Enter in the Refund field the refund amount.
- Post an AP Invoice for the recorded refund. You have the option to post an AP invoice right after you have recorded the refund by clicking the Post AP button in the Check Refund dialog box that will be displayed after saving the Refund Open Credit transaction or you can post the invoice in the AP Invoice Transactions function of the AP module.
- Access the Apply Payment function in the Transactions menu of the AP Module and apply payment to the invoice.
- Print check.
■ ■ ■
Module: PO
Q: How can I print inventory item remarks on purchase orders?
A: Perform the following procedures to print inventory item remarks on purchase orders:
- Access the Inventory Maintenance
2. In the Remark/Image tab->Print Remark on area, mark the Purchase Order checkbox.
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