| Mid-Range Accounting 1999 by Tom C. Davis, CPA |
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When you are making the decision to
become a technology consultant for your clients, you have to answer some
very tough questions. Is there a need for this type of service?
Do you have the knowledge and resources to provide these services?
For which applications do you choose to consult? How do you get
started? Well, there is little argument that
the market is there. The need for effective information knowledge
is exploding and is projected to grow. Our clients have
significant information needs. In order to operate in a highly
competitive economy, where personnel resources are scarce, our clients
need to become more efficient. On the knowledge side, CPAs are
well suited as technology advisors to our clients. We have the
audit, tax, and financial background to do this type of work. We
are perceived as being technology savvy professionals. Moreover,
clients respect and trust us. We also have an “installed base”
of satisfied clients that are already buying services from our firms. The resource portion of the
equation is tough. Many of us have the “financial” and
system” knowledge to provide needed services but we lack the computer
technology knowledge. We can either learn how to manage and
perform technology engagements or we can buy the talent. The
problem with purchasing this resource is one of supply and demand.
The demand is huge and the supply is very scarce. Also, you have
to have more than a passing knowledge of technology to effectively
manage these engagements successfully. Which applications do you choose to
consult on? General ledger accounting packages are a natural for
firms. We have been working with the internal version of these
applications (write-up software) for years. We have a good
understanding of the reporting requirement ad capabilities of these
packages as we have used the basic information to prepare financial
statements and tax returns. If you decide to get into the
accounting package implementation business, you have many (dozens?,
hundreds?) of applications to choose from. You might decide to
pick several applications to support and implement. However, you
are going to find it hard to consult on several applications.
There are just so many hours in the day. Focus on a very small
number of applications (maybe one) and become an expert in that package. Okay, which one do you pick?
Picking an application that has the “best” set of features is not
possible, simply because there is not a “best” application on the
market. There are a large number of applications with very
extensive and in many instances, similar features. One way of
approaching this decision is to stratify the various products into
low-end, mid-range, and high-end applications. These categories
are distinguished by features, industry specialization, customization
capabilities, reporting options, and pricing. Depending on your
client base and other firm specialties, you can begin to narrow down the
candidates. I believe firms should concentrate
on the mid-range products. These applications typically offer much
greater flexibility and support more specific industries than the
lower-end products. While their pricing is higher than low-end
applications, it does not approach the high costs of the high-end
applications. Another aspect of the mid-range product group is
that it provides better dealer incentive and support programs.
These programs include demo software, special pricing, and most
important, access to training and priority support. By taking
advantage of these incentives, firms can quickly gain knowledge about
the application thereby reducing the cost of getting up-to-speed on the
application. This article looks at packages from State of the Art, RealWorld, ACCPAC, Redwing, CYMA, and Cougar Mountain. The focus is on the unique features of the applications that set them apart from their competition, as well as those features that make the applications more valuable to the CPA-Consultant.
ACCPAC for Windows ACCPAC for Windows is designed
specifically for medium to large businesses. ACCPAC for Windows General
Ledger 4.0 comes in both 16 and 32-bit versions. By using the
32-bit versions of the System Manager and General Ledger, you can
benefit from the added power of linking ACCPAC to Microsoft’s entire
Office suite. ACCPAC supports both Microsoft SQL Server and
Btrieve databases and runs on Windows NT and Novell NetWare. The
ACCPAC suite consists of modules for general ledger, accounts payable,
accounts receivable, order entry, inventory control, payroll, system
manager with Crystal Info, BrioQuery Reporting, purchase orders, and
SmartSales point of sale processing. ACCPAC for Windows is strong on
reporting. It has a built in graphical report designer and
includes the Seagate Crystal Info reporting system for creating queries
of complex financial information. The user can have reports
scheduled for preparation and automatically distributed to users, using
in-house email and the Internet. The General Ledger module allows the use of up to 45
characters in the account number. The module can divide the
account number into 10 segments for cost centers, departments, and other
logical information divisions. Also it can post transactions to
any past year for which data is maintained (up to 99 years). The
program allows the user, by provisionally posting transactions to the
general ledger. ACCPAC Accounts Receivable allows
for an unlimited number of customer groups, ship-to addresses, and
customer comments (with expiration dates and follow-up dates).
Customized periods can accumulate customer statistics; so that you can
view customer-aging information on-screen and preview customer
transactions. Adjustments can be entered during receipt entry to
fully resolve transactions in a single process or enter adjustments
separately as required. The module will automatically create
adjustment batches to write off small account or transaction balances. Quick Deposit can be used to enter cash, check and
credit card receipts for both customer and non-customer accounts with
minimum information to create your bank deposit; later, enter full
payment details to apply receipts to customer accounts or directly to
G/L accounts. Distribution codes are used to speed data entry.
Transaction audit trails provide full details of receipts and
adjustments applied to transactions, to allow the inclusion of full
details on reports or online inquiries. The user can include
customer name, customer number, document number, reference or
description, sales order number, or purchase order number in general
ledger entries. The user can also perform on-screen aging of
accounts receivable, and review up-to-the-minute customer information
including current balance, last activities, and complete transaction
details. The program will display customer receipts by bank or status
and drill down into receipt to review all documents applied. Accounts payable transactions are searched via invoice number, purchase order number, or sales order number. Accounts payable information can import from other applications. There are eight optional fields for invoices, vendors, and remit-to locations. ACCPAC for Windows Accounts Payable provides accounting features to streamline your entire cash flow process. Accounts Payable's library of accounting and reporting features facilitates rapid entry of vendor invoices, flexible cash disbursements and full check reconciliation. These features allow you to prioritize payments, use discounts effectively, and negotiate terms and keep 1099 information for vendors that are subject to 1099 reporting. ACCPAC features extensive features for linking to
Microsoft Office applications. You can create analytical reports,
graphs, and charts in Microsoft Excel using information from ACCPAC for
Windows. Budget information automatically transfers from Microsoft
Excel. ACCPAC data can also be used to design reports in Microsoft
Access and to create Microsoft PowerPoint presentations with continually
updated accounting information. The ACCPAC ACES Qualified Installer Program is designed for consultants interested in installing, implementing, and supporting ACCPAC for Windows and ACCPAC Plus Accounting. Certification is given to individuals based on their successful completion of training classes for specific products. Qualified Installer program benefits include priority technical support, training classes, CPE credits, demo products, access to the CompuServe partner forum, referrals, and participation in conferences and events.
BusinessWorks, Version 12 BusinessWorks application is
designed for the small to medium sized business with one to 50
employees. It features eight fully integrated modules: General
Ledger, Accounts Payable, Accounts Receivable, Inventory Control and
Purchasing, Order Entry, Payroll, Job Cost, and Custom Office, plus a
System Manager. BusinessWorks’ built-in networking capabilities
can support up to 48 concurrent users. BusinessWorks accounting modules
can function as stand alone applications (except Order Entry and Job
Cost, which require Accounts Receivable). One can integrate this
package, in order to offer a complete accounting solution. The
application features a multiple module close option that permits speedy
end-of-month closes with one keystroke. It has a system-wide
notepad feature that tracks notes for accounts, customers, vendors,
employees, parts, and jobs at the click of a button. It has
features to insert city and state abbreviations based on ZIP code entry. BusinessWorks features good
importing features that accommodates over thirty different formats
including Lotus 1-2-3, dBase, Comma-Separated Variable, ASCII, Access,
Excel, Word, Word Perfect, Quattro Pro, and many others.
Information can be imported from other applications into BusinessWorks
from a text file. The BusinessWorks General Ledger module allows up to 9,999 accounts in the chart-of-accounts, each with up to 99 departments. It maintains current financial information, as well as transaction histories for up to nine fiscal years and budget information for the current, prior, and next year. Information from multiple companies can be combined into a single consolidation company for financial reports. The system provides inquiry capability to examine account status, balance history, budgets, and transactions. From General Ledger Inquiry Options you can now drill down or search for an original transaction, regardless of the module from which the transaction posted. Version 12 offers up to 999 detail
lines in a journal entry. Additional industry-specific
chart-of-accounts are included in the latest version. The user now
has the option to have a department description automatically added to
an account description when copying departmental accounts. Version
12 gives you the ability to select a range of departments when printing
reports and financial statements by department. Also, the program
enhances the audit trail by giving you the option of including the
system date as well as the posting date on all journal entries. Not only
can you print reports based on posting date; you can now print reports
based on system date. The Accounts Receivable module
allows the user to locate a customer by an invoice number. This
action is beneficial when you receive a payment, but the name on the
check does not match the customer’s name in Accounts Receivable.
The number of open invoices per customer, per month has increased from
800 to 3,000 and the number of line items on an invoice has increased
from 40 to 99. Version 12 will store your customers’ e-mail
addresses. BusinessWorks Accounts Receivable module can now track
credit card purchases from customers. The user can void invoices
directly from the Accounts Receivable module’s menu. The open
invoice report has the option to include customers with open credits and
finance charges, regardless if those customers do not have an open
invoice on file. The Accounts Payable module provides full bank reconciliation. It also tracks credit card purchase and purchase history when a credit card is used to pay a vendor. In the Cash Balances inquiry, the user can view the cash balances based on both the date logged into BusinessWorks (Calculated) as well as balances based on your Windows system date (Actual). As with the Accounts Receivable module, Version 12 allows you to store your vendors’ e-mail addresses. The reprinting of instant checks is now available and the number of distribution accounts on instant checks has been increased from five to 20. Furthermore, you can void a range of checks instead of voiding them one by one. Invoices can be optionally placed on hold at time of entry. Like the Global Customer Change in the Accounts Receivable module, the user now has the option to make global changes to multiple vendor records. The "Today’s Entries Only" Report feature allows you to run reports showing entries based on the "today’s" system date, regardless of the posting date. The GL Reconciliation Report helps reconcile detail Accounts Payable to the General Ledger. To save time, the bank reconciliation module allows you to clear a range of checks. During inquiry of vendor transactions, cleared checks will be marked as "payment cleared." A Cash Withdrawal transaction type is now available in Version 12. The Bank Transaction Report allows you to look at deposits from Accounts Payable and review deposits that originated from Accounts Receivable. The Bank Transaction Default has been changed to the last transaction type used. The user can now void a bank deposit in just one step and it will automatically back the transaction out of Accounts Payable and Accounts Receivable. The Payroll Module allows global changes to multiple employee records at the same time, to expedite data entry. Timecard information can import from other time keeping devices. A minimum wage adjustment feature adjusts pay if tips do not bring an employee up to minimum wage level. BusinessWorks tracks Medicare and OASDI separately, in order to both meet federal electronic filing requirements and to help you more accurately determine your tax liability. The new Vacation/Sick Pay option
calculates vacation/sick pay on vacation/sick pay taken. Improved
W-2 Printing and Multiple Sort Options allow the printing of the
employee ID on the form and sort by criteria other than employee ID
(e.g., name, ZIP code, department, etc.). Different payee names
for state taxes can now track for State Withholding Tax, State
Disability Insurance and State Unemployment Insurance. To verify that payroll is in
balance, the Payroll Verification Report is now available at any time;
not just when leaving the setup mode.
The Time Card Report option allows the user to print a Payroll Time
Card Report with one employee per page. Vacation/Sick Report now
includes the amount paid, as well as hours, based on current employee
pay rates. A CPA consultant can become a State Of The Art Authorized Reseller of the BusinessWorks product. The Authorized Reseller program requires a one-time investment and includes a full reference library, sales leads within a sales territory, marketing assistance, discounts on software for resale, product and pre-sales support.
Cougar Mountain Accounting for
Windows-Version 4.0 Cougar Mountain has been in the
accounting system business since 1982, and has an installed base of more
than 25,000 users. Accounting for Windows is a modular program and the
basic package includes six modules-General Ledger, Accounts Payable,
Accounts Receivable, Order Entry, Inventory, and Data Exchange. All modules post directly to
General Ledger to provide up to the minute financial data. The
General Ledger module gives you the financial information you need when
you need it. The module has single screen journal entry that
provides the user with ease of entry and to view all of the debits and
credits. The full audit trail reporting gives you all of the
needed account detail including transaction date, source document, and
module. The program features a 36-period calendar so you are not forced
to close your books prematurely. Date-sensitive journal entry
allows you to post any entry to the actual date that the transaction
took place. Accounts Receivable manages all
outstanding receivables with user-defined aging periods, dunning
notices, and collection statements. Accounts Receivable module
retains history of charges and payments to establish credit rating and
total value of each customer. Customer master screen displays all
of the information related to a customer including customer notes,
charges, payments, YTD amounts, and last transaction amounts.
While entering transactions, the user can add, change, or look-up
customer information. The program handles recurring charges and
payments such as monthly billing for service contracts. Customer
payments can be applied to up to 250 invoices. The Accountants
Receivable module tracks customers' open credits. The program will
calculate finance charges and specific finance charges can be assigned
to individual customers. With the renumber feature, the user can
automatically renumber customers while maintaining all history from
their previous customer numbers. The program also allows user-defined
custom statement formats for preprinted forms, plain paper statements,
or laser printers. The Accounts Payable high level
cash management features ensure that a bill is never paid too early or
too late. Many vendors offer early payment discounts, the Accounts
Payable module automatically computes your early payment discounts so
you don't have to enter them every time. The system automatically
tracks payables by both discount rate and due date. The program
allows the user to flag a bill as recurring to save time wasted on
duplicate data entry. The user can distribute expenses to up to
5,000 general ledger accounts per invoice. The Accounts Payable
module has built-in protection against duplication of bills or payments.
The program prints Form 1099 Misc. and 1099 Magnetic Media for contract
labor. The user can merge two vendors while maintaining their full
histories. Correcting for double entry or dealing with a company merger.
Another feature maintains your accounts payable month-end balances of
total payments, credits, and debits. Data Exchange is a powerful data
file converter that translates data from an external source such as a
database or a spreadsheet and imports it into Cougar Mountain files.
Data Exchange also exports data from Cougar Mountain files for use by
other software packages such as Microsoft Access, Btrieve, dBase,
FoxPro, Paradox, Excel, Lotus, Quattro Pro, Symphony, and ASCII file
formats. This tool saves time and effort by eliminating duplicate
data input with this simple yet powerful program. Cougar Mountain has an extensive
list of authorized training centers. Their reseller program
includes marketing and technical support. Three-day training
seminars on the new Windows products are available to all Business
Partners, free of charge. Cougar Mountain’s Business Partners program includes discounts on products, support and training. Business Partners also receive Internet web site development, newsletters, and a Business Partners Success Manual that contains valuable information on marketing, selling, publicity, and general business management.
CYMAIV CYMAIV is a flexible,
high-performance accounting system that adapts to your ever-changing
business needs. CYMAIV is a true 32-bit application developed
using Microsoft Visual C++ object-oriented coding. CYMAIV is a
very fast application constructed using the latest development tools at
a very competitive price. The current modules in the CYMAIV suite
are System Manager, General Ledger, Accounts Receivable, Accounts
Payable, Payroll, Client Write-Up, Bank Reconciliation, Crystal Reports,
F9, and Developers’ Toolkit. The program uses a Tabbed-Dialog
box to provide the user with more information in a consistent and
logical manner. CYMAIV is multi-user ready straight from the package.
There are no separate multi-user and single-user hassles. Careful
attention has been paid to file and record locking to make the data
available when and where the user needs it. The system
administrator can control user access at the task, module, company, or
report level. Because CYMAIV is designed exclusively for Windows
95 and Windows NT, you can be assured of keeping up to date with the
latest operating system advancements. CYMAIV is one of the most
competitively priced systems available for the mid-range accounting
marketplace. CYMAIV has a very flexible approach to data entry.
Users select from multiple look-up options. The screen view can be
customized and each user may save their options for each browser.
CYMA’s data entry interface uses a spreadsheet-like grid control
throughout the system for entering or editing information. It has
a “multiple document design” that allows multiple modules and/or
windows to be open concurrently. Three different keyboard modes
are provided to accommodate fast data entry for heavy keypad users as
well as to accommodate users who prefer using the mouse. User
notes can be kept for all master records with or without automatic
pop-up capability. The CYMAIV General Ledger module features a 24-character account number that accommodates 10 logical segments for departmental, divisional, and other reporting needs. CYMAIV allows unlimited prior period processing and reporting. The General Ledger module allows for the maintenance of original and revised budget information. The CYMAIV General Ledger provides advanced tools to manage the continuing entry and reporting of your financial transactions. The module features detailed audit trails, extensive budgeting capability, and complete date sensitivity. The General Ledger module provides over 25 pre-defined financial statements, worksheet reports, entry reports, budget reports, and ratio analysis. Through the use of the F9 Financial Report Writer you can easily integrate CYMAIV with Microsoft Excel, Lotus 1-2-3 or Quattro Pro for Windows to bring all the power of today's spreadsheet technology to your financial data. Using F9 you can create virtually any financial report imaginable, including rolling 12-month P&L's, balance sheets, ratio reports and income statements. Because F9 and CYMAIV are completely integrated, changes in your general ledger are instantly reflected in the accompanying spreadsheets containing your financial reports. Using F9, CYMAIV and spreadsheet technology together allows you to create financial reports containing the fonts, graphs, colors and notes needed to produce presentation quality financial reports. The CYMAIV Accounts Receivable system provides instant access to all the information you need to manage customer relationships. The system supports unlimited ship-to locations and tracks an unlimited number of contacts for each customer. Special pricing, including future effective dates, is available on a customer by customer basis. Historical sales, payment, discount and finance charge statistics are available. The CYMAIV Custom Data Designer allows you to add an unlimited number of user defined fields for each customer record, allowing you to track the customer information needed. CYMAIV allows you to easily tailor
your Accounts Payable system to meet your exact needs.
User-defined aging days allow you to manage cash reporting as you
desire. Convenient vendor defaults, including 1099 information,
term’s codes, vendor types and maximum check amounts, make setting up
individual vendors a breeze. The CYMAIV Accounts Payable system
also provides access to all the information you need to manage vendor
relationships. The CYMAIV Custom Data Designer lets you add data
fields for each vendor to track and report the exact information needed. CPA consultants can become authorized CYMAIV dealers by signing up for the program and placing an initial order. Dealers receive prioritized technical support, commissions based on a sliding scale, training (there is a fee for this training), and other incentives.
RealWorld Expertise.LAN Version
5.5 The RealWorld Expertise Series
includes modules for accounts payable, accounts receivable, data
manager, fund accounting, general ledger, inventory management, payroll,
point of sale, project costing, purchase order, sales order,
multi-currency, e-commerce, and system manager. One of the
strengths of the RealWorld Expertise Accounting Package is its
scalability. The system can accommodate small businesses requiring
basic accounting features as well as large organizations requiring
features such as platform choice; multi-currency options and networked
multi-tiered client/server capabilities. RealWorld offers extensive
capabilities for linking information to and from other applications.
Its open architecture makes it possible to integrate RealWorld Expertise
Accounting software with many other Microsoft Windows applications.
Custom application development, program modifications, and enhancements
can be accomplished in a very short time frame with the Data Manager.
This module allows you to import any ASCII, comma- or tab-delimited file
directly into nearly every field of every RealWorld Expertise file.
The Dynamic Data Exchange (DDE), available with most major Microsoft
Windows spreadsheet products, gives you visual control of all data
elements that are being imported and exported. The Data Manager
enables system integrators to link external applications with RealWorld
Expertise at the file system level. Any Rapid Application Development
product that can read Btrieve Data Definition Formats (DDFs) can be used
as an integration development tool. For example, Microsoft Access,
Powersoft's Powerbuilder, Borland's Delphi, Visual Basic, and Trinzic
Corporation's Forest & Trees can be used to develop front-end
systems for vertical market applications that integrate with RealWorld
Expertise modules. To customize RealWorld to meet the
needs of users, its Data Manager also provides the ability to add
supplementary menu selections to the RealWorld Expertise menus and to
access custom applications from standard desktop buttons. Commonly
used import maps can be saved for periodic imports. Automatic
spreadsheet column formatting, according to stored data type, is
provided. A full set of data dictionary tools is included and all
data dictionary file formats can be easily managed. Accounting
data can be set up without re-entry. Keyed fields can be exported
from every file, the data can be modified, and the changes can be
imported. Commonly used data files can be imported through a
template with features for adding new records, changing existing
records, or adding and changing existing records. Checking account information can be integrated electronically and directly with the bank files. In addition to the traditional
functions, the accounts receivable module supports time billing with
default or special rates per billable employee. It has unlimited
inventory pricing options by customer type and contract purchase level.
The accounts receivable module handles non-sufficient funds (NSF) checks
by reinstating the applicable invoices and adding a service fee.
Accounts payable invoices can be entered in separate periods for
cross-period posting and can be made into past, current, or future
periods. Accounts payable checks can be auto-numbered and sent to third
parties, such as brokers and factoring agencies. Separate fields
have been created for the city, state, zip and country codes in all
modules. RealWorld can post transactions directly (immediate
posting), by batch, or recurring batch with detail or summary per
journal. It provides four budgets for each period that can be
imported from spreadsheets and allows for the tracking of budget
revisions. Period processing controls can be selected to prevent
users from posting to closed periods by entity. Version 5.5 also sports some new
E-commerce capabilities. Three new columns have been added to the
existing Pay Method and GL Account options; they are Create Deposit,
Deposit Journal, and an E-Commerce check box. When the credit card
and E-Commerce check box are enabled, the E-Commerce module will display
the credit card option. The Create Deposit and the Deposit Journal
columns determines how Expertise.LAN is going to process pay method
posting. This allows you to have different journals for different
credit card types to track those transaction amounts. Version 5.5
has a new field named Copy Customer No., used to copy all the
information about that customer from E-Commerce module/application into
the new customer file. The default e-mail address field used for
the Sales Order to notify the addressee that an order has been shipped
can be changed to another reply mechanism. A new option called
Virtual Store associates a store to a customer. This is used for
pricing and also to restrict what items a customer can see if they are
purchasing using E-Commerce. New fields were added to the Payment
Group Box: expiration date, and cardholder Name. In the reporting area, the 1099
Printing in Report Writer has been enhanced. Version 5.5 allows
users to define, consolidate, and report information from individual
departments, divisions, or subsidiary companies, and provide variable
consolidation percentages for each entity. RealWorld products are distributed through a network of dedicated resellers who have the technical expertise to install, support, and train users on RealWorld software solutions. To become a RealWorld reseller, you purchase a starter kit, attend training, and meet an annual minimum purchase requirement. Reseller programs offer the reseller hands-on training, professional technical support, demonstration modules, in-house modules, marketing materials, co-op advertising credits, qualified user leads, and on-line access to special support and information.
Red Wing Windows Accounting
Series The Red Wing Windows Accounting Series is positioned to fill the gap between low-end and high-end accounting applications. It is a Microsoft Access application that includes modules for System Manager (required), General Ledger, Accounts Receivable, Accounts Payable, Inventory, Order Entry, Project Cost, Purchase Orders (add-on module to Accounts Payable), Point of Sale (add-on module to Accounts Receivable), and Payroll. The modules come with extensive online help that includes, cue cards, practice systems, setup wizards, and sample data to give users the opportunity to practice without damaging their own financial records. Because of its Microsoft Access
foundation, Red Wing has strong reporting and data exchange
capabilities. Reports can be output to Microsoft Word, Excel, or
Graph as well as other Windows-based applications. CPA-consultant can
use off-the-shelf tools to present client financial information in the
best format. These same data exchange features allow for the easy
importing of information from other applications into Red Wing. Red Wing Windows Accounting Series
System Manager features a convenient Label Wizard add-on application
that prints labels for accounts receivable, accounts payable, and
inventory, including UPC and PostNet bar codes. The system manager
provides a system security that restricts users to specific applications
or menu selections. Another ease-of-use feature is the automatic
tracking of system errors for reference when talking to Red Wing
Technical Support. The user can track up to 1000 inventory items
for use with the Accounts Receivable and Accounts Payable systems.
The Check Reconciliation feature integrates with Accounts Payable and
General Ledger modules to balance your checkbook. Checks can be
imported from Accounts Payable and/or any DOS applications. The General Ledger module allows
for entry of information into prior years. The system features
budgeting capabilities that easily prepare new budgets from prior budget
information or actual amounts. Red Wing’s handling of profit
centers, departments, and divisions allow for the splitting of
transactions between multiple centers. The Accounts Receivable module
features the expected set of features as well as maintaining unlimited
history information. The new Sales by Customer (MTD/YTD) report
analyzes the customer’s purchases this year as compared to last year.
This report is very useful when preparing for sales calls to a customer.
Statements now can show the total discount amount available to the
customer, rather than just the discount rate. Invoice entry is
much faster for all users, especially those that interface with Red
Wing’s Inventory module. The Accounts Payable module handles
magnetic media reporting of 1099 information to the IRS. A new menu
selection, Void (Reverse) Invoices, has been added to the Transaction
Reports/Post menu, making it easier to correct an invoice that has been
entered and posted to the wrong vendor. The accounts payable module
offers a Change Vendor Code menu selection that allows the user to
change the vender's code when the vendor’s name changes or even if the
vender was set up wrong and are not appearing in the proper order on
your reports (the accounts receivable has a similar menu item for
customer codes). Prepaid invoices are handled as part of the
regular invoice entry process. When entering invoices, the default
expense account for each invoice detail line is the inventory asset
account number assigned to the item. For non-inventory items, the
vendor’s expense account number (as set up in vendor maintenance) is
used. Another new feature relates to voiding a check, the
transaction that is posted to the General Ledger has been changed to
more clearly indicate what caused the entries, providing a clearer audit
trail. Inventory module features include
capabilities to mass update prices and costs (by a percent or an amount)
for a complete product line, location, or other selected criteria and to
maintain unlimited inventory history information. The Inventory
Turnover report now calculates a separate turnover number
("turns") for each item. The report can show either MTD
or YTD values. The inventory module will allow the user to mass
update item (add or remove) locations for a range of items, rather than
one item at a time. Physical inventory bin information has been
improved so that the bin number now prints on the Picking Report. Red Wing Resellers receive software for both in-house use and for demonstration purposes, sellable software, training, customer referrals, product discounts, and free attendance at annual conferences. The cost of the reseller program is $2,500. An Associate Reseller authorization program featuring demonstration software, training, and an installation guide is available for a $995 application fee.
Summary If you have the desire, the knack,
and the resources, technology consulting is a great market for
accountants. There is a huge demand, and firms have substantial
knowledge in areas that complement technology consulting. Mid-range accounting packages are the ticket for many firms to consult on. They offer enough flexibility and other powerful features to make them a good fit. Even though these packages are more expensive, they are still affordable for almost every client. Additionally, mid-range accounting application vendors are very interested in having CPA’s consult on their products. They offer excellent training, support, and incentive programs that will make it much easier to get going and to implement their products.
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