Dear Clients,

I regularly cite the Balance Sheet as the most important report in the system—and the importance of validating it to ensure the bottom line of your Income Statement is correct. But while I’ve often chatted with clients about the Profit Margin Report as the second-most-important report, was surprised I’ve never written about it, so here goes…

Located in the AccountMate AR module, the report has more than a dozen major sort options to show price, cost and margin in a myriad of ways—by customers and customer class/industry/ territory, by items sold and item classes/product-line, by salespersons, and other selections—with dozens of filter criteria, including the all-important date range.

And did I mention it shows margin?! I dare say the single most important operational factor in a for-profit enterprise is keeping a close eye on margin—and this is the tool to do so, in a built-in and simple way with the flexibility to analyze profitability from many angles and even compare margin over time for the same criteria.

The tricky part about this report is making sure your costs are flowing correctly from purchasing and/or manufacturing all the way through to the Profit Margin Report—we might need to implement lot control or tighten up kitting/manufacturing BOMs, but once we have accurate cost numbers flowing all the way through to this report then there’s a lot working correctly in your system.

If you’re not already using the Profit Margin Report, then be sure to check it out—and if the costs aren’t screwed down tight then doing so is one of the most valuable projects you can undertake.

■ ■ ■

In other news…

Am happy to announce NexLAN’s inclusion in Accounting Today’s 2021 VAR 100 largest accounting software service providers in the U.S.

On the whimsical side… If we’ve chatted on the phone, even though we’re in the cornfields of Illinois you’ve probably noticed (or I’ve cited) my Kentucky accent, so I’m PROUD to announce my appointment by the governor of Kentucky as a genuine Kentucky Colonel. While it doesn’t include a discount at the most famous Kentucky Colonel’s business, it’s the highest civilian honor in The Commonwealth and bestowed for public service and philanthropy. No plans to augment my wardrobe with white jackets and string ties…

Regards,
Col. Kevin E. Stroud, Kentucky Colonel
colonel@nexlan.com
NexLAN, LLC
https://nexlan.com 

New Dates for Core Product Training for AccountMate SQL/Express

October 7 – November 11, 2021 is the next scheduled Core training for AccountMate users. These outstanding and comprehensive online classes are conducted by the good folks at AccountMate a few times per year. This time the sessions are spaced out over 6 weeks, for 2-4 hours per day:

  • Oct. 7—System Manager 1 / System Administrator
  • Oct. 13—System Manager 2 / User Interface
  • Oct. 14—General Ledger
  • Oct. 20—Inventory Control
  • Oct. 21—AP/PO Master Records
  • Oct. 27—Purchase Order
  • Oct. 28—Accounts Payable
  • Nov 3—AR/SO Master Records
  • Nov 4—Sales Order
  • Nov. 10—Accounts Receivable
  • Nov 11—Bank Reconciliation

Imagine heading into year-end with many new AccountMate skills, a better understanding of how actions in one module impact things in other modules, and new insights into how to do things better and more efficiently! This class draws both novice and experienced users. You can ask questions specific to your company’s processes, as these aren’t webinar recordings—these are “real” classes, live with hands-on exercises.

Do you want to attend one or more days but not the whole thing? You can do that! The class is $2500 per person for all of it, or $400 per day for one or more days. And companies on LifeCycle Maintenance get at least one FREE seat per year (more seats depending on your number of users) and 50% discounts for additional seats. See details on all the discount levels on the Course Overview page.

And here’s the Course Outline and the Course Schedule. Let us know if you’d like to register and don’t be shy about asking questions first.

September 20-24, 2021 AccountMate Payroll Online Training

The annual Payroll Product Training Class is scheduled for September 20-24. It includes 18 hours of online instruction (2 to 5 hours per day), as the topic of payroll has many aspects and the Payroll Module is powerful. We recommend this high-quality class to any company running the Payroll Module. Even longtime payroll gurus learn new things and get ideas to enhance their processes.

The Payroll class is $1,500 per person and it isn’t eligible for the free Lifecycle Maintenance training seats. Or you can choose to attend any of the 5 days for $400 each if you’re interested in specific sub-topics within Payroll.

  • Sept. 20—Introduction and Payroll Module Setup
  • Sept. 21—Master Records Setup
  • Sept. 22—Payroll Process
  • Sept. 23—Other Payroll Transactions and Reports
  • Sept. 24—Tax Forms, GL Integration, Tax Year Closing, and Payroll Tax Subscription

Here’s details on the Course OverviewCourse Outline, and Course Schedule. Contact us with questions or if you’d like to register.

AccountMate Tech Note: Understanding the Payroll Check Register Report

Processing payroll is a complex operation requiring a sophisticated program that can completely and correctly calculate taxes, maintain accurate records and provide detailed reports. The AccountMate Payroll module is equipped with several reports that provide a high level of detail.

The Payroll Check Register Report is the most frequently used report. Article # 1202: Understanding the Payroll Check Register Report explains how the various setting combinations available on the Payroll Check Register Report interface affect the generation of the report.

AccountMate Tech Note: Understanding the Multi-Currency Feature in Bank Reconciliation

AccountMate’s Bank Reconciliation module provides you with the ability to record deposits, checks, and miscellaneous receipts and disbursements in the bank’s currency. It also provides the flexibility to record fund transfers between two banks using different currencies.

The Bank Reconciliation module facilitates easy and accurate bank account reconciliation by allowing you to reconcile bank accounts in their original currencies. You can also transfer to General Ledger the multi-currency bank transactions in both home and foreign currencies.

Article # 1252: Understanding the Multi-Currency Feature in Bank Reconciliation discusses how to best use the multicurrency feature in the Bank Reconciliation module. It also enumerates the Bank Reconciliation module’s reports that display multi-currency values.

AccountMate Technical Tips

Versions: AM12 for SQL and Express
AM11 for SQL and Express
AM10 for SQL, Express, and LAN
AM9 for SQL, Express, and LAN

Module: PR

Q: We are currently setting up our payroll for direct deposit. If we need to run payroll before the direct deposit is fully functional, will we be able to print checks for the employees?

A: Yes, you can. If you have already activated employees for electronic payment, then you must mark the Use Check checkbox in the second Print Payroll Check function so AccountMate will print checks instead of generating an ACH file. If you have only entered the ACH information for employees and the bank but have not yet activated employees for electronic payment, then print checks the same way as before you entered ACH information.

■ ■ ■

Versions: AM12 for SQL and Express
AM11 for SQL and Express
AM10 for SQL, Express, and LAN
AM9 for SQL, Express, and LAN

Modules: AR, SM

Q: I have set up a new default report macro for AR invoices in Print Invoice; however, when I drill down on an invoice from Customer Maintenance, it does not honor the new default report macro. Why?

A: The invoice drill down from Customer Maintenance calls the Report Macro for Transactions and not the report macro set up from the Print Invoice report function. Configure the report macro for drill down using transaction report macro in the System Toolbar ► Report Setup ► Report Macro ► Review Macro for Transactions ► [AR] Print Invoice function.

Note: In AccountMate for LAN, configure the transaction report macro in the System Toolbar ► Report Macro Setup ► Review Macro for Transactions ► [AR] Print Invoice function.

■ ■ ■

Versions: AM12 for SQL and Express
AM11 for SQL and Express

Modules: AP, PO, RA

TIP: The shipping courier and F.O.B. terms can vary among vendors. You can configure these per vendor instead of changing them per purchase order transaction. The Ship Via and F.O.B. fields are added to the Vendor Maintenance ► Information tab.

In addition, you can configure the default values for new vendor records in either of these functions:

  • PO Module Setup ► General (2) ► Default for New Vendor area
  • RA Module Setup ► RTV Options ► Default for New Vendor area

Note: Any changes in Ship Via or F.O.B. in PO Module Setup will update RA Module Setup and vice-versa.

■ ■ ■

Versions: AM12 for SQL and Express
AM11 for SQL and Express
AM10 for SQL, Express, and LAN
AM9 for SQL, Express, and LAN
AM8 for LAN

Module: SO

Q: We recently updated the Unit Price of most inventory items. Will AccountMate use the new Unit Price when we ship or invoice sales orders that were created prior to the Unit Price update?

A: No; the Unit Price that the Ship Sales Order function will use is the Unit Price that was entered and saved when the sales orders were created. Similarly, when invoices are generated from shipment, it will use the Unit Price from the sales order. If the sales orders are not yet shipped, then you can amend the sales orders and manually enter the new Unit Price before you ship them.

Note: The default Unit Price when creating sales orders is subject to AccountMate’s pricing hierarchy.

Subscription Information

If you or someone else in your office would like to automatically receive our NewsLine in your inbox each month, please email newsletter@nexlan.com.