Dear AccountMate Clients,

Superhero in red cape says source code customization means mind-bending flexibilityA recent article resonated with me when it stated “All business is tech business” citing, “Banking is computers doing finance. Automobiles are computers spinning drivetrains. Retailers are warehouse pick-and-pack computers connected to freight-logistics routing computers.

Without getting into the overall arc of the article’s discussion on the big tech anti-trust Congressional hearings in July, I have to agree that today’s successful businesses are, at their core, companies that actively engage technology in all their business processes.

That doesn’t mean you have to be a tech company though, as we have first hand experience with companies you wouldn’t immediately think of using the inherent flexibility of their AccountMate systems to drive their business to unprecedented levels of success.

One of my favorite examples of a non-tech company embracing technology is our client in the fencing business. To be clear, we’re not talking épées here—but what you might think is as simple as a post hole digger, couple bags of Sakrete, and some treated lumber. Actually, their operation spans simple back yard fences for grandma’s Pomeranian to major fence construction around airports, industries, prisons and military installations. They meet the challenge of coordinating their 15 locations across several states with their AccountMate hosted in the cloud and a tightly integrated jaw-dropping custom quote/order/job system that provides far more than typical CRM insight. It’s a true Business Intelligence implementation providing a quote-to-order conversion ratio no other company in their market can come close to matching—and *that* is one of the secrets to their success!

Another of my favorites is our client that manufactures high end ceiling fans sold through a large network of distributors while managing a long supply chain. Having visibility to their expected inventory, and then providing that to their distributors real-time means the end-user can purchase with confidence knowing the item is either in stock or exactly when it will be delivered. This is implemented with numerous home-grown and “real” EDI interfaces (more info on the distinction, and how we satisfy them both, here) to keep the entire chain of production orders, expected delivery, sales order receipt, shipping information and customer invoicing flowing, literally 24/7, so they can focus on product enhancement and the exceptional customer service that distinguishes them—and *that* is one of the secrets to their success!

That’s just two examples of dozens, but what’s the common thread? The accounting system wasn’t the end solution, it was the start of the complete business solution. They recognized the possibilities of how existing data could accelerate the business, then leveraged flexibility of their existing AccountMate backbone to differentiate themselves from what their competitors could provide as easily. If you’re reading this, then you’re starting from that position of strength—a flexible system—and it’s time to put your thinking cap on for how we can leverage your AccountMate system in 2021 as a secret to your success!

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In other news…

➤A note of thanks to all attendees of our NexLAN Fall Knowledge Harvest webinar and special recognition to Amy, Carol & Starla—who each won $100 Amazon cards for attending. If you missed it, our website has been updated for the four plug-ins we highlighted and you can watch the recordings of those segments:

  1. Integrated Customer Credit Card Processing – Lower your processing fees and have a single-point-of-entry for customer credit card payments, including pre-authorization during sales order entry, with the MKT Credit Card plug-in and APS payment gateway.
  2. Automatic Customer Sales Tax – USPS-validated addresses for roof-top accuracy of on-the-fly sales tax rate determination, and automated state filing, with Nex$Tax and TaxJar.
  3. AccountMate “In the Cloud” – Improve your team’s ability to work remotely with no capital expense and reduce IT support costs, with V2 Cloud hosting of your AccountMate system.
  4. Access Your Most Current GL Data in Excel in Real Time – Pull General Ledger data, even across multiple companies for consolidation, into Excel where you can prepare custom reports and graphical dashboards with F9.

➤The October AccountMate Core Product Training filled to capacity and we sadly had to turn away some registrations—so heads up on the next session, which will be March 8-22, 2021. More info in future monthly NewsLines, but contact us now to lock in your seat!

Regards,

Kevin E. Stroud
NexLAN, LLC
https://nexlan.com

Section-179—Last Hurrah?

IRS Section-179 remains the most popular means of deducting capital improvements to your business—but since the limit for this deduction has been a political football, how much longer will it remain at its current limit of a little over one million dollars? All we know for sure it that it remains through the end of 2020, so take advantage of it while you can!

Besides the usual ability to deduct the price of equipment and software financed or purchased during the tax year as a business expense, reducing your taxable gross income, much of the equipment purchased to conform to COVID-19 restrictions will qualify for the Section 179 tax Deduction this year. Further, eligibility for the Section 179 tax deduction for 2020 is unaffected by any pandemic-related financial assistance a business may have received (e.g. PPP Loans). In other words, even if your company received a PPP loan or any other Pandemic-related assistance, you may still claim the full Section 179 deduction.

Be sure to chat with your CPA and check out the information at http://section179.org for what may be your last chance at deductible upgrades to your AccountMate and other systems!

Early Bird Discount for 2021 Payroll Tax Subscription

AccountMate’s money-saving Early Bird Payroll Tax Subscription Promotion for 2021 is running now for orders placed and paid by November 30th. You save 10% for being the early bird that catches the worm. This savings is designed to encourage you to get your subscription in place before you get extra-busy with year-end closing activities and risk having your subscription inadvertently interrupted.

If you’re running the Payroll module, Rachel has already been in contact so please follow-up with her if you haven’t already—otherwise, she’ll be calling you! <grin>

Tech Note: Understanding Internal Stock Issuance

If items you sell or manufacture are sometimes “used internally,” then AccountMate’s Internal Stock Issuance feature allows you to record the reduction of inventory balances arising from issuing stock items for internal consumption and to charge the related expense to the appropriate cost centers. Relevant reports about the recorded internal stock issuance transactions are also provided.

Our Article #1214: Understanding the Internal Stock Issuance Function provides a comprehensive discussion about the Internal Stock Issuance function, its related reports, General Ledger (GL) entries, and the effects of the Period End Closing process on this type of transaction.

Tech Note: Adjusting Customer Finance Charges

Many clients apply finance charges when customer accounts become overdue, so AccountMate provides the ability to automatically perform this needed function. Of course you can review and manually change the calculated finance charges before applying them to invoices; however, there may be instances when it is necessary to amend or void the applied finance charges.

The Adjust Finance Charge function allows you to adjust or void finance charges that have been applied either to the customer’s past due balance or to an invoice. It also allows you to view finance charge transactions and invoice adjustment history. Check out our Article #1227: Adjusting Finance Charges Applied to Accounts Receivable Invoices for details on the procedures to assign user access rights to the Adjust Finance Charge function and to adjust finance charges. The article also discusses the relevant General Ledger (GL) entries and reports.

Technical Tips

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

Module: SM

Q: Can I re-arrange the order of shortcuts in My AccountMate Shortcuts?

A: Yes. Right-click on My AccountMate Shortcuts and select Organize Shortcut Pane. You can use the Move Up and Move Down buttons to re-arrange the shortcuts.

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

Module: AP

Q: The Amend AP Invoice function does not allow me to change the Post Date. I verified that the posting period is not restricted. What did I miss?

A: The Post Date cannot be changed when the invoice is fully paid. You must void the payment before you can amend the invoice Post Date.

Note: Starting in AccountMate 10.4 for SQL and Express, you can amend the Post Date in the AP Invoice Transactions function of a fully paid AP invoice or a partially or completely applied debit invoice. This behavior applies to invoices that are not yet transferred to history.

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

Module: AP

Q: Every time I record an AP invoice for a specific vendor, the default Due Date is the same as the Invoice Date. Is there a way to configure a specific number of days from the Invoice Date as the Due Date?

A: The default AP invoice Due Date is defined by the Pay Code assigned to the vendor. Create a Pay Code with a Terms type and enter your desired due days in the Net Days field. Then, assign the new pay code to the vendor.

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Versions: AM11 for SQL and Express

AM10 for SQL, Express (AM10.3 or higher)

Module: SM

Q: How do I hide the Total Bank Balance value and disable its graph and detail analysis button in Executive Summary?

A: Unmark the Access BR Data in Executive Summary checkbox in AccountMate Administrator ► Setup ► Security Group/User ► Setup ► Add/Edit User window for users whom you do not want to view the Total Bank Balance information.

Subscription Information

If you or someone else in your office would like to receive NewsLine in your inbox each month for the latest AccountMate news and tips, please email newsletter@nexlan.com.