Dear AccountMate Clients,
It’s not year-end… It’s not tax season… It’s not open enrollment… It’s too early to start ramping up for Christmas orders and holidays are scarce the next few months. So, for most of our clients, summer time is a GREAT time to improve your business processes!
Here are some simple suggestions, which leverage built-in functionality that many clients aren’t using:
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Tighten up your month-end closing processes, including confirming your Balance Sheet. We have a free checklist to help on this, just ask for it!
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Set up bin location definitions within your warehouse – simplifies the order picking process (because the Pick List says what bin to pull the items from) and the year-end inventory count process is easier.
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Configure Positive Pay – which creates a file of checks printed that you upload to your bank to prevent fraudulent checks from being passed on your account. Once upon a time, it was tough to create a fake check – now anybody with a $100 multi-function printer can do it, so corporate check fraud is rampant and this is the free way you prevent it.
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Turn on the Accrued Received Goods functionality that debits your inventory asset when POs are received into inventory and provides a “voucher” for the payables clerk when subsequently entering the vendor invoice. Provides validation you’re being invoiced for the quantity and cost of the goods you received, improves accuracy of your inventory onhand costing, and provides visibility to purchase cost variances.
If you already have the basics screwed down tight, then here are suggestions that require a little more effort, but still have an ROI measured in weeks:
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Add the Bank Reconciliation module. Cash receipts and checks written from AP and Payroll automatically flow in – so reconciling the account (monthly, weekly or even daily) is a breeze. Added bonus: this also puts your up-to-the-second bank balance at your fingertips! I’m amazed how many clients don’t use this module and still wrestle for hours every month with spreadsheets…
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Speaking of spreadsheets… As great as Excel is, it’s woefully time-consuming to be updating it with information that’s already in your system in order to analyze data. So take a lap around your office and look for the spreadsheets in use, then call us! The first place to look: commission or royalty calculations. We write custom reports for breakfast – we’ll reduce the hassle, plus make the information more timely and accurate.
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What business processes are you working around in the system? You already have a great financial management system, but no system can accommodate every possible scenario. Fortunately AccountMate is flexible – so after we write custom reports for breakfast, we modify screens for lunch! Complex pricing structures, bills-of-lading, importing web orders, certificates of analysis, complex tax requirements, etc. We can get it done, and will provide a not-to-exceed quote beforehand.
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Are you running the latest version of AccountMate you’re licensed for? If not, have you looked at the enhancements released in the interim? We have complete lists and follow a very structured upgrade outline so your operational downtime will be zero. Give us a buzz for a free proposal on implementing the latest version.
Everyone knows business is all about moving forward – or getting passed by the competition. For many of our clients, early summer is an overlooked window of opportunity for you to do the passing!
Regards,
Kevin E. Stroud
NexLAN, LLC
https://nexlan.com
Free Vertical Solution Webinar
One of the many benefits of AccountMate’s flexible and scalable architecture is the plethora of 3rd party add-ons available to enhance and extend your system functionality.
AccountMate Business Intelligence Powered by ClickBase
AccountMate Business Intelligence is an agile decision making solution which equips your company with comprehensive business analysis capability to track key metrics and supports better business decisions. For you this means remaining competitive by identifying and responding to company key performance indicators and opportunities quickly.
Details of ClickBase are here, but if you’re not familiar with Business Intelligence it really has to be seen to be believed. The free one-hour demonstration webinar will be presented Monday, July 21st at noon CDT.
Contact us at 877.2NEXLAN or support@nexlan.com to register and let’s put your information to work for you!
Technical Tips
Versions: AM9 for SQL and Express
Module: IC
Tip: AccountMate has been enhanced with a new Import Physical Count feature, which allows you to import physical count results from a text, Excel or DBF file. To do this, perform the following:
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Freeze the inventory items using the <Freeze Inventory> function
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Access the <Import Physical Count> function
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Select the import data fields
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Click the ellipsis button next to the “Import File” text box to locate the import file
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Click the <Import> button
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Versions: AM9 for SQL and Express
AM8 for SQL, Express and LAN
AM7 for SQL, Express and LAN
Module: IC, PO
Q: There is a Vendor # file on the Inventory Maintenance screen, but it is grayed out. How does this field get updated?
A: The vendor record assigned as the default vendor for the inventory item is displayed in the Vendor # field. This field will be updated when you assign the default vendor via the <Inventory Vendor Maintenance> screen in the Inventory Control or Purchase Order modules.
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Versions: AM 9 for SQL and Express
Module: IC
Tip: You can use the <Change Inventory Cost Method> function in AccountMate 9 for SQL and Express to change the inventory record cost methods between the following options, and AccountMate will generate the appropriate cost variance accounting entries to reflect the change in item total cost under the new cost method.
■ Average, FIFO or LIFO to Standard
■ Standard to Average or FIFO
■ Specific ID to Standard with Specific ID (or vice versa)
■ Average w/Serial Number to Standard with Serial Number (or vice versa)
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Versions: AM9 for SQL and Express
Module: PR
Q: There are several employees who have left the company and I want to retain their records, but I don’t want their records to appear every time I access the Employee Maintenance function. Is there a way to hide these records?
A: A new feature in AccountMate 9 for SQL and Express provides the capability to archive employee records for employees with no transactions in the prior, current or future years.
To archive employee records, click the <Delete> button in the Employee Maintenance toolbar and if the conditions are met then you will be prompted to “Archive” the record.
Archived employee records are excluded from the employee lookup function, and if you wish to view an archived employee record you must first un-archive it.
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