This week, I am doing some cross-training with my sister, Christine, so that she can handle the accounting while I’m gone. If you’ll remember, I did a post about how my father has set things up so that I can work remotely from Israel, connect to my own computer, and be pretty available, even while being out of the country.
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Let There Be No Sinking Ships
We recently released our schedule of webinars for the next few months and it seems to be hitting the right note for many of you. If you’re looking to compare your e-invoicing activities against those of your peers, struggling to manage your balance sheet and bank reconciliations, or due to launch a purchasing card programme, there’s a session coming up just for you. Benchmarking special – How to best solve the freight invoice problem 22 September 2010 e-Invoicing benchmarking special – Compare your performance to world class projects 28 September 2010 Trouble managing balance sheet and bank recs
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Are webinars in your diary?
Over the past decade, companies have invested in supply chain management (SCM) software to automate procurement processes, improve delivery times and reduce the cost of doing business. Majority of the Fortune 1,000 (and beyond) have realized dramatic savings by applying strategic sourcing principles to both their indirect and direct expenditures. But despite these gains, companies today face intensifying competitive and global pressures, and are responding by pushing the boundaries of outsourcing and low cost country sourcing in a quest for further cost reduction.
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Resolve Supplier Collaboration Problems with Oracle Supplier MDM
For the past few months, I have tried to explore Social CRM from various aspects that I feel are important for organization to consider if they are keen on exploring the Social media platform. As I see, the question that is bound to be a part of discussion for any organization wanting to devise a Social CRM strategy would pertain to the opportunities to expand the traditional CRM pillars i.e. Sales, Marketing and Service for Social CRM.
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Scope of Social CRM – Demystified Part-I
The constant demand for analytical information, coupled with frequent BI product consolidation has often left organizations wondering if they should retain their existing products and applications or migrate to a new BI/EPM platform. Thus, organizations have a constant pressure to modernize their BI/ EPM tools and technologies at a faster pace while meeting the objective of lowering costs.
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How can you make a smart choice by modernizing your existing information delivery?
Design of the Organization structure is the common issue faced by most business houses. The structure should not only be compliant from legal perspective but should also be effective from operational management and accounting perspective. Legal entity is the crux of the organization structure as this determines the statutory and country specific (local) reporting needs.
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Demystifying Legal Entity in Oracle R12 Architecture
Here’s an interesting fact: According to Labor Department statistics released on Wednesday, small businesses with fewer than 50 employees accounted for 61.8% of job losses in the U.S. in the fourth quarter of 2009. That’s according to a Wall Street Journal article , and the number is even more significant when you consider that those same small businesses employ only 29% of all workers.
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Unemployment and Small Business Financing
Few weeks back, I witnessed a great debate on significance of measuring ROI on BI projects. There were opposing views being expressed where some argued that measuring ROI may not be possible for every BI project, while others said that establishing ROI is both possible and essential to measure the success of the project. According to me, in majority of cases, it is possible to measure and realize the ROI on the BI projects over a period of time
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Have you got the ROI on Oracle BI?
Zoom out and take a top-level view of your company’s financial performance. Ask your bookkeeper to prepare a report package based on these specs: ALL REPORTS Accrual basis Without cents $’s in 1,000′s if monthly sales consistently exceed $100K Negative #s in parenthesis and red Collapsed (versus expanded) Portrait (versus landscape) Fit to one page wide If someone will be crunching the numbers, export the reports to Excel P&L Last five years* + current year through last closed month Display % of Income Columns = year BALANCE SHEET Last five years* + current year through last closed month Columns = year SALES BY CUSTOMER SUMMARY Last five years* + current year through last closed month Columns = year Sort by total sales, descending P&L by CLASS/BUSINESS UNIT (if applicable) Run a report for a period you feel is representative (YTD, last year, last 12 months, etc.) Compared to P&L and Balance Sheet specs above, this is not a time series SALES BY PRODUCT LINE and/or SKU Run a report for a period you feel is representative (YTD, last year, last 12 months, etc.) Compared to P&L and Balance Sheet specs above, this is not a time series A/R AGING SUMMARY as of TODAY A/P AGING SUMMARY as of TODAY * Substitute months or quarters depending on what questions you’re asking. VIDEO ON QUICKBOOKS REPORTING http://www.youtube.com/v/j5zGDZQ2-mU&hl=en_US&fs=1&”%20type=”application/x-shockwave-flash”%20allowscriptaccess=”always”%20allowfullscreen=”true”%20width=”480″%20height=”385″>
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Big Picture Financial Statement Package
Construction payment disbursements for payroll, travel, fuel, and entertainment purchases are accounting tasks in every construction firm. A mountain of receipts with handwritten notes arrive in the office, perhaps with a spreadsheet the employee has prepared itemizing the details.
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Construction Payment Innovation
It’s a little odd thinking about winter in the middle of summer, but we’re finalising our annual Accounts Payable Automation conference (8-10 December) and wanted to give you a glimpse of what we’ll be discussing and who’s going to be there.
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A sneak preview into AP automation 2010
If the growth of The Receivables Exchange is any indication, online receivables financing is fast becoming the working capital solution of choice for small and midsize businesses. Today we announced that receivables trading volume on our market-based platform increased 300% this year, as of July 31st.
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The Receivables Exchange Reports 300% YTD Growth
Scientists in Britain were recently able to definitively solve one the world’s oldest riddles: “Which came first, the chicken or the egg?” Using a supercomputer that analyzed the early formation of the shell, a team of scientists discovered that, in fact, chickens were around before the egg evolved as a means to incubate offspring. If scientists can solve such ancient riddles, it stands to reason that we can solve some more modern ones, too
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How the SBA is Inextricably Linked to Our Economic Future
A good secured bank loan workout, when started in advance of the banks pursuit of legal action and done well, is seamless and invisible. Only a small handful of participants are aware of it: your banker, us, perhaps some unsecured vendors, and of course, the secured and guaranteed creditors. There will be neither public recital nor publication in any way, both of which can hurt businesses in meaningful ways
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Collateral Damage In A Workout Is Sometimes Unavoidable.
Keeping your eye on the numbers? Chances are that your accounting software is providing you with those numbers. But when it comes to fraud, there’s a flip side. A dishonest employee can use that same software to take lots of your money – but the books will look GREAT! Here’s just one example: In a recently-reported fraud, an accounts payable clerk embezzled nearly $200,000 from her employer, Vitasoy USA, over a five-year period ( http://www.justice.gov/usao/ma/Press%20Office%20-%20Press%20Release%20Files/Jan2010/RichardSarahPleaPR.html ).
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The Computer Did It!
Keeping with the original premise: the books must be tied down, reconciled, fixed and accurate BEFORE the Form 990 or 990EZ and other regulatory information returns can be accurately prepared. Remember the GIGO principle- Garbage In Garbage Out? Monthly is preferable, quarterly may suffice, and if once a year is all you have then make that effort your best effort! Accounts Payable - Total accounts payable must agree to the total monies owed your vendors at the end of the month and fiscal year. Run an aging report by vendor, if you have the capability. Compare each vendor balance to the vendor’s statement to ensure your books agree. Follow up and correct if they don’t agree.
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Preparing for the 990/990EZ- Accounts Payable
Document management software saves time and money by automating labor intensive business processes for accounting and finance departments. In addition to the significant savings that can be realized, there are other significant advantages associated with accounts payable automation, among them improved vendor and supplier management, enhanced employee performance review capabilities, and more efficient transaction verification and audit control.
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FileBound Explains How Document Management Benefits Accounts Payable
FileBound AP provides default workflows based on accounts payable best practices which can be modified and enhanced to meet the specific needs of the organization. Once configured, FileBound AP shows a graphical representation of the entire process and can drill down at each step to see what is happening in detail, revealing bottlenecks and even unnecessary steps that can be eliminated
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Get Familiar with FileBound AP: Electronic Document Solution built entirely for Accounts Payable (PART – 2)
It won’t be easy, and it probably won’t be fast, but it is obvious for all to see that the excuses will run into as you go, but they are nothing but weak justifications for leaving well enough alone.
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Overcoming Excuses to Get Document Management
FileBound AP is a complete electronic document management solution built entirely for accounts payable.
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Get Familiar with FileBound AP: Electronic Document Solution built entirely for Accounts Payable