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Need to know who entered a payables invoice in Dynamics GP?

Posted by Hope Ritson

Mar 4, 2019

If you have ever needed to supply documentation showing who entered a payables invoice in Dynamics GP, you know the frustration that the data in the open and history payables transactions tables updates this information to be the user who issued or applied a payment to the invoice.  You can join to the payables keys master table to obtain this information with the script below. 

  

select a.VCHRNMBR as VoucherNumber, a.VENDORID as VendorID, case a.DOCTYPE

 

     when 1 then 'Invoice'

 

     when 2 then 'Finance Charge'

 

     when 3 then 'Misc Charge'

 

     when 4 then 'Return'

 

     when 5 then 'Credit Memo'

 

     when 6 then 'Payment'

 

     end Document_Type,

 

a.DOCDATE as DocumentDate, a.DOCNUMBR as DocumentNumber, a.BACHNUMB as BatchNumber,

 

        case a.VOIDED

 

     when 0 then 'No'

 

     when 1 then 'Yes'

 

     end Voided,

 

a.POSTEDDT as DatePosted, a.PTDUSRID as PostedUser, a.MODIFDT as DateModified, a.MDFUSRID as ModifiedUser,

 

a.DOCAMNT as DocumentAmount,

 

a.PSTGDATE as GLPostingDate, z.USERID as OriginalUser

 

from PM20000 as a

 

join PM00400 as z

 

       on a.VCHRNMBR = z.CNTRLNUM

 

              and a.DOCTYPE = z.DOCTYPE

 

where a.PSTGDATE between '1/01/2018' and '12/30/2018'

 

and a.DOCTYPE <> 6

 

 

 

union

 

 

 

select a.VCHRNMBR as VoucherNumber, a.VENDORID as VendorID, case a.DOCTYPE

 

     when 1 then 'Invoice'

 

     when 2 then 'Finance Charge'

 

     when 3 then 'Misc Charge'

 

     when 4 then 'Return'

 

     when 5 then 'Credit Memo'

 

     when 6 then 'Payment'

 

     end Document_Type,

 

a.DOCDATE as DocumentDate, a.DOCNUMBR as DocumentNumber, a.BACHNUMB as BatchNumber,

 

        case a.VOIDED

 

     when 0 then 'No'

 

     when 1 then 'Yes'

 

     end Voided,

 

a.POSTEDDT as DatePosted, a.PTDUSRID as PostedUser, a.MODIFDT as DateModified, a.MDFUSRID as ModifiedUser,

 

a.DOCAMNT as DocumentAmount, a.PSTGDATE as GLPostingDate, z.USERID as OriginalUser

 

from PM30200 as a

 

join PM00400 as z

 

       on a.VCHRNMBR = z.CNTRLNUM

 

              and a.DOCTYPE = z.DOCTYPE

 

where a.PSTGDATE between '1/01/2018' and '12/30/2018'

 

and a.DOCTYPE <> 6


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Topics: cloud ERP, financial accounting, Microsoft Dynamics GP, business software

Five Keys to a Successful Financial Migration for SMBs

Posted by Samantha DeLaire

Jan 11, 2017

Is your small- to medium-sized business (SMB) finally moving your financial accounting software from your server in the basement to the cloud? If so, that’s a great decision!

However, successful migrations aren’t easy without help. Here are five tips on how to seamlessly move through this critical process and start enjoying the benefits of a cloud ERP solution. 

  1. Build the perfect timeline for the migration: Planning the right time of the year is critical. Determine your own busy periods and avoid them. If you’re starting an implementation, give yourself 90 to 120 days to pick a kickoff date for the project. From there, work backward to time evaluations and decision-making. Assume a 45- to 60-day sales process to work toward that deadline. This allows time before completing the contracts for an evaluation period.
     
  2. Pick the right vendor by asking around: Evaluate possible vendors as much as possible before engaging in the sales process. Referrals are highly important. And remember, you can learn a lot from a company and its solution before you ever commit to entering the sales process. In other words, know what you want and need, and make sure the system provides those features. Some companies make the mistake of jumping into the conversion process and must learn about the software along the way. This is a bad idea because you might get directed into a point of view that’s not in your best interest. Vendors that provide evaluation tools and white papers are most likely to have a good sales process, because they expect you to evaluate them. Peer evaluation can provide authentic “from-the-trenches” views on the software.
     
  3. Avoid hidden costs and fees: Make sure you clearly understand what you’re paying for. The value of the cloud is that it removes a great deal of costs — hardware, support, maintenance, etc. — that are ongoing but not always considered appropriately. Often, the biggest problems occur when companies don’t understand a contract or deliverable. Scope creep happens because companies keep asking for features not included in the original price. Deployments will last longer and cost more if you don’t read the fine print. This is why you must demand a fixed bid.
     
  4. Don’t undervalue the cloud: Don’t dismiss the value that the cloud brings. Avoid getting hung up on license or monthly subscription fees. Instead, look into the lowest total cost of ownership. Your on-premises financial accounting software solution won’t seem so cheap if you calculate all the costs to maintain and upgrade the system. And remember, a cloud ERP system includes updates to the tax code, service packs, tech support and many other additional services within an application that you need but will never have to ask for.
     
  5. Always review deliverables: Be clear about the deliverables. Include these expectations in excruciating detail. Otherwise, you’ll hear this phrase: “That wasn’t included in our estimate. It’s extra.” Get everything in writing as part of the statement of work (SOW) before you sign any contracts. If something you expect isn’t contained in the SOW, make sure it gets added and that the provider tells you if it’s not.

You’ve made the right move! You’ve decided to empower your financial accounting efforts by moving to the cloud. Just make sure you comb through the fine print and put everything in writing. If you do, your migration to the cloud should be a great experience.

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Topics: financial accounting, cloud migration

Why Migrating To Financial Accounting Software Makes “Cents”

Posted by Samantha Merrill

Mar 5, 2015

financial accounting softwareFinancial accounting is complex: Accuracy is paramount, but accounting software is expensive. You shouldn't be forced to choose between profitability and precise calculations. You need a solution that's cost-effective so you're getting the most accurate data, the best reporting and the smartest analysis without breaking your business budget.

Getting the most out of your financial accounting software is easier than you think: It all starts with a transition to the cloud. More and more businesses are opting for cloud migration, welcoming the enhanced functionality and flexibility the cloud offers. But it's the significant cost decrease that makes cloud migration a lucrative strategy for small and mid-sized businesses worldwide. Let's investigate the reasons why cloud accounting software makes "cents."
  • Cloud-based accounting solutions require little or no upfront investment. 
    On-premise financial accounting software requires significant front-end cost: First, you need to buy the software (or pay for the licensing); then, you must find server space to house the software system; finally, you need to build a technological infrastructure that's capable of supporting the software. System implementation and configuration adds more charges to the total, and the downtime you suffer during setup ends up costing your business even more in productivity and time. 

  • Cloud accounting takes the stress of system maintenance off of your plate.
    Updates, upgrades and bug fixes are recurrent tasks when it comes to software maintenance. Because of the breakneck pace of technological development, updated versions become available before you've even gotten used to the original! These fast-paced updates may seem like overkill, but they're important for enhancing the functionality of your software – or even keeping it running at all. The problem is, they're also expensive. 

    On-premise accounting solutions force you to make a difficult choice: Either you pay exorbitant upgrade costs (and deal with the complication of implementing them) or you're stuck with old, outdated software. If you're like most small and mid-sized business owners, neither option is particularly attractive.

    With cloud accounting software, your cloud provider maintains and updates the system for you. You don't bother with installing updates, and you don't need to pay extra to have access to newer versions of software.

  • In the cloud, accounting solutions require no IT overhead. 
    The more employees you have on your payroll, the higher your overhead costs become. When you have on-premise financial accounting software, you need to staff a department of IT specialists who are equipped to handle the system. This team may be responsible for setting up the system, keeping the equipment in good shape and monitoring the network – and you need to provide them with adequate salaries to do so. 

    Cloud accounting software eliminates your need for IT staff altogether. Any services, fixes or support you need should come directly from your cloud provider. By simply eliminating the need for a fully staffed IT department, you lift a huge burden off of your business's bottom line.

  • The cloud isn't vulnerable to break-ins or natural disasters. 
    The equipment and hardware required to run on-premise accounting software is finicky. It needs to be kept cool, dry and dust-free or the system malfunctions. This is of particular concern in areas with extreme heat or humidity, but it's also worrisome during inclement weather. Heavy rains in flood-prone areas or strong winds in Tornado Alley could wipe out an entire server room, leaving devastating consequences for businesses. 

    On-premise solutions are also vulnerable to break-ins. Your accounting software is full of private information about your clients and your business. In the wrong hands, this information causes devastation en masse – the recovery from which is long and arduous. 

    In the cloud, financial accounting software is protected from harm. Floods, hurricanes and tornadoes don't affect your system, and you don’t have equipment to protect. Hackers are the bandits of the cloud, but security systems are highly developed and cloud providers are constantly keeping an eye out for threats. The cloud is the safest place to house your financial accounting software.

Most small and mid-sized businesses are constantly engaged in a balancing act, trying to minimize cost and maximize performance. While the balance is not always easy to strike, cloud accounting offers some much-needed relief. You no longer need to endure the frustrations of on-premise financial accounting software or pay unbearable costs to achieve high functionality. If you haven't considered cloud migration for your business, you don't know what you're missing. 

Is your business due for an upgrade? Learn more about SMB Suite's Financials packages or investigate the comprehensive cloud-based ERP software that unites all of your business applications into one superior interface. 

Free eBook - 7 Tips To Improve Cash Flow With Financial Accounting Software

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Topics: cloud ERP, financial accounting

Reporting: 5 Reasons Financial Accounting Software Is a Must-Have

Posted by Brian Radford

Mar 2, 2015

With several departments generating their own numbers using their own complex Excel formulas, it’s no wonder that small- and medium-sized businesses (SMBs) often struggle with finding a single clear version of the truth.

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Who has the right numbers? Nobody knows!


The ability to communicate accurate financial data to lenders and stakeholders is critical. But how do you know which version of the truth to rely on? Excel and require manual actions, which can create issues and can be error-prone. They also can’t capture the discussions between managers about the results of reports. Nor do they contain automatic alarms that trigger management actions based on a threshold.


In order to achieve a single version of truth and process high-quality reporting actions, SMBs absolutely must use financial accounting software. It’s only with powerful tools like this that an entire company has full confidence in the numbers.


Here are five additional reasons why financial accounting software is the best way to generate financial reports for your company.
  1. The reports are more sophisticated: When it comes to tracking and monitoring the financial aspects of your business, it’s possible to combine several spreadsheets with complex formulas and produce information. But this can be difficult and error-prone. With financial accounting software, SMBs run reports about every aspect of the business, including the future. As a rule, the most important report for most SMBs is a reliable cash flow statement. Without this, it’s difficult for SMBs to know if and when they’ll run out of money. In addition to cash flow reports, here are the most common reports that SMBs need:

    - Profit and loss: This report contains current month actuals, last month, last month prior year,   budget, year-to-date and other common numbers.
    - Key performance indicator scorecard: This report displays your top metrics, including sales numbers, inventory or whatever figures are critical to your business.
    - Balance sheet
    - Top 50 sales transactions for the month
    - Payables report showing the largest payments made that month
    - Receivables report showing outstanding bills

  2. It feels like Excel, but it’s better: SMBs aren’t armed with scores of accountants and IT professionals. They’re run by “regular people” who may not understand how to use complicated programming to crank out the necessary data to make decisions. With more than a billion Microsoft Office users, most business people heavily rely upon Excel. Great financial accounting software tools are capable of sophisticated data-crunching, but are also as easy to use and integrate with Excel. These tools allow nontechnical users to use their competencies around Excel formulas to build and run ad hoc reports. That saves time and speeds up decision-making. 


  3. More accurate forecasting: Planning for the future requires advanced reporting that handles revenue, capital planning and personnel figures. Using finance tools to achieve these operational goals is critical because they’re able to establish parameters around the goals.


  4. It’s cloud-based: Unlike financial accounting software that is deployed on-premises, a cloud deployment provides additional benefits such as increased data and application security, mobility, disaster recovery and business continuity (should the unexpected happen); keeps your business on the latest technology and most recent application releases; and, if you select the right cloud-based solution, you can take advantage of an all-inclusive monthly subscription-based investment model rather than dealing with unexpected upfront and nonrecurring charges and fees.

  5. It’s automated: Unfortunately, many SMBs are still using spreadsheets or QuickBooks to manage their finances and a separate, industry-specific billing system to handle their payables and receivables. These companies must manually move batch data from the billing system into QuickBooks or the spreadsheets to generate reports. Financial accounting software does the transferring and calculating work for you. Plus, the software does it faster, and without the risk of human mistakes.

Your company deserves one version of the truth. It deserves to have insight into all aspects of the company. It deserves to eliminate mistakes, save time and move ahead of the competition. That’s why your company deserves the power of financial accounting software.

7 Tips To Improve Your Cash Flow With Financial Accounting Software
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Topics: financial accounting, cloud-based financial software, accounting solutions

6 Ways Cloud ERP Accounting Can Help You Improve Productivity

Posted by Brian Radford

Feb 20, 2015

So many small- and medium-sized businesses (SMBs) suffer significantly reduced productivity because they spend too much time dealing with inefficient, outdated accounting systems.452670163

Rather than focusing on the core competency of the business, SMBs rely on manual entry, inadequate system capabilities and error-laden processes. A great way to maintain clarity is to embrace cloud ERP technology to drastically improve accounting functions. Moving line-of-business systems into a well-managed hosted environment keeps your overall IT budget at a minimum.


Here are six ways cloud ERP accounting helps SMBs to improve productivity.

  1. Connect to the system remotely: Want to work from home? With remote access to the system, your employees have the flexibility to work from wherever they want. This feature also facilitates companies that rely on telecommuters. To be able to pull up a web browser and conduct business from anywhere and at any time is so important for SMBs. If someone has to take a day off, you don’t have to delay the whole billing processes. 


  2. Integrate your software programs: How many hours have your accountants wasted attempting to reconcile spreadsheets or financial systems that don’t communicate with each other? The answer is probably “too many.” Programs that lack real-time integration cause many headaches. When one spreadsheet has an error, the other spreadsheets need to be fixed. When one system is off by one number, they’re all off by one number. Hunting down problems, fixing them and putting the company back on track all because your system requires manual data entry sends time and money down the drain. 


  3. Improve your security: Cloud ERP tools are updated constantly. This means security features are more up-to-date, they have better hardware infrastructure than your basement servers and they include better backup features. If something goes wrong with your-on premises system (such as a computer crash), productivity goes down the toilet. Without a valid backup system at a Tier 1 or Tier 2 data center, which is built with many protections such as redundancies, SMBs could lose everything in a moment. 


  4. Understand your company with reporting: Spreadsheets aren’t as robust as cloud ERP systems, no matter how much time you sink into them. Dashboards, real-time data access and high quality reports are simply impossible without powerful systems. To get key performance indicators with QuickBooks, spreadsheets or on-premises solutions, SMBs must invest in third-party software, which is usually cost-prohibitive. At the end of the day, SMBs need to trust their data if they are to reconcile incoming and outgoing figures, make productive decisions, and plan for the future. 


  5. Speed up your invoicing: With cloud ERP systems, financial data is updated in real time and in one location. This means accountants don’t have to wrestle with maintaining the integrity of their bookkeeping. They don’t have to waste time questioning or repairing the validity of their data. They know how much money is coming in. Faster invoicing means faster payments and that means cash flow is improved. Research shows that the faster your invoice cycle is, the more likely you are to get paid in full. Don’t let your company endure the confusion and headaches with lengthy invoicing cycles. 


  6. Improved accounts receivable (AR) and accounts payable (AP): It’s common for SMBs to finance their business on credit cards. But when receivables don’t come in, the company fails. A lack of efficient AR kills your business quickly. But with cloud ERP, online bill pay becomes a reality with web-based systems. And thanks to the system integration, cloud ERP also allows you to pull customer data and store this information in your CRM system. Dashboards allow SMBs to gain insight into pending payments and invoicing history.


SMB owners need to optimize every corner of their companies. To thrive, such businesses must have complete control of their finances, which is only possible with powerful software. Without quality reporting, invoicing security and remote access, SMBs won’t be in a good position to balance the books and move forward with confidence.

 

Download: An Insider's Guide to The Best Cloud-Based ERP Software

 

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Topics: cloud ERP, financial accounting

7 Ways To Streamline Business Accounting With Cloud-Based Software

Posted by Brian Radford

Feb 19, 2015

On a day-to-day basis, small- and medium-sized businesses (SMBs) struggle with so many things. They don’t have nearly as much manpower as necessary, cash flow is almost always fluctuating, the competition is stiff and forecasting anything seems impossible.
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While there are an infinite number of ways to alleviate these pains, streamlining accounting is one of the best. Armed with the right tools, SMBs save time and money, gain actionable insights into the company and move the business forward. The best tool to streamline your accounting is cloud-based financial accounting software.

Here are seven great ways that such tools help your company overcome these day-to-day struggles and succeed:

  1. Reduce Your Manual Tasks
    Financial accounting software streamlines business accounting by avoiding multiple data entry. A survey of accounts payable (AP) professionals reports that less than 17 percent of businesses embrace fully automated systems. The more your accounting software is able to automate repetitive tasks, the fewer the manual tasks your employees need to complete. This cuts down on billing errors, mistakes and overpayments.

  2. Boost Disaster Recovery Efforts
    Using spreadsheets or QuickBooks is dangerous in the event of a disaster. However, if your financial accounting software is cloud based, it’s backed up at least once a day. Remember, even if your on-premises system is programmed for backups, the data is still located in the same place as your office, which presents an issue if your building gets flooded or burns down.

  3. Reduce Silos
    It’s common for SMBs to struggle with siloed information. As the business grows, the company buys new systems to solve problems. Unfortunately, many of these systems were not built to work together or easily share information. These silos become problematic because the ability for a company to work off one set of numbers — rather than a set of numbers from one department and another set of numbers from another department — gives managers the confidence to make sound decisions. In other words, they won’t have to worry that they’re working off the wrong set of numbers. Financial accounting software is powerful enough to work with all systems to improve efficiencies, reduce errors and streamline processes.

  4. Integrate With Your Other Programs
    Integration is how financial accounting software is able to reduce silos. Integration also saves the company time because accountants don’t have to work long hours maintaining the integrity of several different financial systems. They update one figure in one location and all systems are updated in that moment. This provides one source of data for all business uses. 


  5. Eliminate IT Worries
    SMBs have limited IT staff. When those few people — or that single person — spend precious time keeping the lights on rather than figuring out ways to make the company more revenue, the company loses. However, cloud-based financial accounting software is already maintained by the vendor’s IT staff. In other words, service pack applications and patches, virus protection, data management and application upgrades are all included in your cloud subscription costs. That means that employees focus more on the core competency of the business rather than stressing about the next software upgrade.

  6. Ensure Proper Audit Trails
    Tracking changes was never so easy. When someone changes information anywhere in the system, the software tracks it. If something harmful happens, it’s simple to restore an earlier version of a document or determine how the mistake happened.

  7. Run Great Reports
    Using high-quality reporting tools is one of the best ways that financial software helps businesses move forward. Armed with business intelligence and actionable data, SMBs have the power to know where the company stands at all times. It’s simple to make course corrections immediately and plan for the future.


If your company is working off multiple data sets, you’re losing time, money and the necessary confidence to make remarkable decisions. It’s time to alleviate your pain points with an automated and integrated financial accounting software system.

Ready to streamline your business accounting? Discover how to upgrade to cloud based software in 5 easy steps in our new infographic, Move to a True Cloud Subscription in 5 Easy Steps.

Move to a True Cloud Subscription in 5 Easy Steps - Infographic

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Topics: financial accounting, cloud-based financial software, business software

Integrated vs. Siloed Small Business Software, Pt. 1: An Inside Look At Starter Silos

Posted by Matt Woodward

Jun 19, 2014

siloed small business softwareWhen it comes to small business software, the silo approach has ruled the roost for years – a testament not to its effectiveness, but to the difficulty of SMB ownership.

The small and mid-sized business market is fast-paced and volatile; growth is often explosive. While this growth is critical to realizing your business vision, it's also chaotic, leaving something of a shockwave in its wake.

Companies that have experienced such swift expansion find themselves scrambling to play catchup, trying to quickly adjust to their new standing without letting performance suffer. Unfortunately, the impending need to fill a gap or complete a task puts pressure on decision-makers, who must prioritize immediacy over efficacy when choosing any new small business software applications.

Why Silos?

It's the very nature of small business growth (rapid and explosive) that makes software silos so popular. SMBs, in their infancy, struggle to carve out a niche, establish themselves, generate revenue and become productive. Each investment decision is cautiously enacted, because budgets are simply unequipped to accommodate superfluous spending. As such, disparate business tools are implemented individually along the way, in response to the changing needs and capabilities of the enterprise. In short, business software silos are popular because they've traditionally been the only viable option available to young companies.

In order to be effective, your small business software needs to provide a complete picture of all the key aspects of your enterprise, such as customer relations, financial accounting, HR solutions, payroll reports, marketing, sales and business insights. In the typical silo approach, SMBs must cobble that complete picture by pulling data from all of their silos. Since each silo is responsible for a separate function, the overall business management system is fragmented – the company is responsible for manually unifying the data, analyzing it and ultimately using it to build meaningful reports.

How Does It All Start?

There's a wide range of small business software on the market, and it's not usually feasible for a fledgling company to invest in all of them at once. As a result, many businesses need to assess their priorities and determine which solutions have the most wide-ranging, immediate and powerful benefits.

QuickBooks

When your doors open, you need basic accounting solutions: payroll processing to compensate your employees and finance management to keep track of your money. QuickBooks is typically the first software investment you make, because it's a reasonably effective tool with a fairly low cost. Unfortunately, it's not an effective solution for the long term: Many businesses quickly find that QuickBooks is ill-equipped to handle their growth. As a temporary solution, though, QuickBooks is an adequate starter tool for young businesses – and it's certainly less error-prone and time-consuming than manual accounting and payroll processing.

Basic CRM

You have accounting solutions in place, but you need customers in order to generate revenue and keep your business afloat. A basic customer relationship management (CRM) system is your logical next step. Simple CRM stores your important customer information in a single silo, and is later used to develop consumer profiles featuring demographics and buying behavior. More enhanced functionalities, like those offered by Microsoft Dynamics CRM, include lead development, relationship-building and opportunity management.

As you find your footing and get comfortable in your business space, your needs begin to change. Your focus shifts from just staying afloat to actively optimizing your performance, and rapid growth makes this optimization increasingly difficult.

This is the point when most small and mid-sized businesses must make a choice: Should we abandon the siloed system we've begun to build, or should we augment the capabilities of our existing small business software by adding more silos? Stay tuned for Part 2, where we discuss the next step most businesses take when pursuing the path of siloed business software.

Let the experts at SMB Suite help you optimize the performance of your software silos. Our comprehensive small business software suite is specially designed to help you overcome the complicated challenges of young business ownership, providing solutions that are simple and scalable. Call 888.525.6398 or click the link below for a free quote.

9 Ways To Leverage Your Business Software For Sustainable Success - Get A Free Quote

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Topics: financial accounting, business software, HR and payroll

3 Ways Cloud Accounting Helps You Avoid Critical Business Mistakes

Posted by Matt Woodward

Jun 18, 2014

cloud accountingYour business needs accounting software – without it, your performance is inefficient, your workflow is hindered and you're vulnerable to costly mistakes. If you're late jumping on the bandwagon, though, you'd be smart to skip over on-premise software and go right to cloud accounting.

New technological innovations have completely revamped the landscape of business. The cloud offers solutions that are faster, more secure and more robust than ever before. In essence, if your business management system doesn't feature cloud-based software, you're not maximizing your enterprise's potential.

Who Is Cloud Accounting For?

Financial assets are the backbone of any business. Collecting data, receiving payments, organizing accounts and allocating resources are the tasks that make your business run and help you generate revenue.

Businesses with a younger population pool see cloud accounting as a natural choice, because their key decision-makers have grown up with the technology. Entrepreneurs also find refuge in the cloud, because it's a platform that supports innovative spirits.

But cloud accounting isn't isolated to the fringe anymore – it's the next step in business, and if you're not using it, you're falling behind. The aspects that make cloud accounting so attractive to millennials and young businesses are the same aspects that take your business to the next level.

Seizing Opportunities

Today's consumers are selective, and your business is swimming in a sea of competitors. Success stems from two things: standing out and seizing opportunities – because if you don't close the deal, your competitors are eagerly standing by to snatch up your prospects.

Missed chances have a ripple effect in the retail marketplace, because consumers who choose another company over yours have no allegiance to you – neither now, nor in the future. Your competitors not only get the initial sale, but the referrals, recommendations and return visits that follow.

Ecommerce and Retail Accounting Software

Ecommerce is, without question, the retail channel of the future. Almost every entity seems to be making the switch to an online presence, instead of or in conjunction with their other outlets (brick-and-mortar and mobile). If you've recognized the benefits of ecommerce, you shouldn't need much convincing to see the benefits of cloud-based ecommerce accounting.

You don't need to be an ecommerce business to reap the benefits of cloud accounting. Ideally, you should boast omnichannel presences – but even traditional brick-and-mortar retail companies benefit immensely from cloud-based accounting solutions.

So what mistakes does cloud accounting help you avoid? It's all about accessibility. The bottom line: If you're not easily accessible to your potential customers, you're losing sales. Don't make your customers work hard to find you – because if you’re not easy to find, you won’t be found.

Unifying Your Business Management System

Business is messy, and when you're first starting out, it's not feasible to invest in a comprehensive ERP software system – traditional on-premise ERP is expensive, implementation is cumbersome and benefits take time to emerge. Because of this challenge, most businesses wind up implementing software in a piecemeal approach: As needs arise and finances become available, you implement separate accounting solutions, payroll software, CRM and sales tools.

The piecemeal approach works well enough when it's a necessity, but it's far from ideal. Information handoffs are the catalysts of lost, inaccurate or redundant data, the implications of which range from wasted time to wholly incorrect reporting.

Once your business has established a consistent revenue stream, the first smart investment you should make is in a complete ERP system. This is where the benefits of cloud accounting shine.

Cloud Accounting As Part Of An ERP System

Whether you're ready to pull the trigger on a full-fledged business management system or you're still looking for individual solutions, cloud-based accounting software lays the groundwork for more effective performance. Cloud-based software forms a framework that's easy to manipulate and integrate – each subsequent tool your business needs is simply "fit" into the framework. You never sacrifice accuracy or efficiency, and the implementation is simple.

If your business is operating without effective accounting solutions – whether you're working with outdated on-premise software or you haven't made the leap to accounting software at all – you're letting your performance suffer. It's time to reap the benefits of the comprehensive, innovative platform that's designed to propel your enterprise toward success.

Want to learn more about SMB Suite's full-service cloud ERP solution? Our comprehensive software suite features accounting solutions, HR and payroll tools, business insights and much more.

Improve Your Cash Flow With Financial Accounting Software: Free Report

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Topics: financial accounting, HR and payroll, accounting solutions

Financial Accounting Software: Why Cloud Migration Makes “Cents”

Posted by Samantha Merrill

Jun 16, 2014

financial accounting softwareFinancial accounting is complex: Accuracy is paramount, but accounting software is expensive. You shouldn't be forced to choose between profitability and precise calculations. You need a solution that's cost-effective so you're getting the most accurate data, the best reporting and the smartest analysis without breaking your business budget.

Getting the most out of your financial accounting software is easier than you think: It all starts with a transition to the cloud. More and more businesses are opting for cloud migration, welcoming the enhanced functionality and flexibility the cloud offers. But it's the significant cost decrease that makes cloud migration a lucrative strategy for small and mid-sized businesses worldwide. Let's investigate the reasons why cloud accounting software makes "cents."
  • Cloud-based accounting solutions require little or no upfront investment.
    On-premise financial accounting software requires significant front-end cost: First, you need to buy the software (or pay for the licensing); then, you must find server space to house the software system; finally, you need to build a technological infrastructure that's capable of supporting the software. System implementation and configuration adds more charges to the total, and the downtime you suffer during setup ends up costing your business even more in productivity and time.

  • Cloud accounting takes the stress of system maintenance off of your plate.
    Updates, upgrades and bug fixes are recurrent tasks when it comes to software maintenance. Because of the breakneck pace of technological development, updated versions become available before you've even gotten used to the original! These fast-paced updates may seem like overkill, but they're important for enhancing the functionality of your software – or even keeping it running at all. The problem is, they're also expensive.

    On-premise accounting solutions force you to make a difficult choice: Either you pay exorbitant upgrade costs (and deal with the complication of implementing them) or you're stuck with old, outdated software. If you're like most small and mid-sized business owners, neither option is particularly attractive.

    With cloud accounting software, your cloud provider maintains and updates the system for you. You don't bother with installing updates, and you don't need to pay extra to have access to newer versions of software.

  • In the cloud, accounting solutions require no IT overhead.
    The more employees you have on your payroll, the higher your overhead costs become. When you have on-premise financial accounting software, you need to staff a department of IT specialists who are equipped to handle the system. This team may be responsible for setting up the system, keeping the equipment in good shape and monitoring the network – and you need to provide them with adequate salaries to do so.

    Cloud accounting software eliminates your need for IT staff altogether. Any services, fixes or support you need should come directly from your cloud provider. By simply eliminating the need for a fully staffed IT department, you lift a huge burden off of your business's bottom line.

  • The cloud isn't vulnerable to break-ins or natural disasters.
    The equipment and hardware required to run on-premise accounting software is finicky. It needs to be kept cool, dry and dust-free or the system malfunctions. This is of particular concern in areas with extreme heat or humidity, but it's also worrisome during inclement weather. Heavy rains in flood-prone areas or strong winds in Tornado Alley could wipe out an entire server room, leaving devastating consequences for businesses.

    On-premise solutions are also vulnerable to break-ins. Your accounting software is full of private information about your clients and your business. In the wrong hands, this information causes devastation en masse – the recovery from which is long and arduous.

    In the cloud, financial accounting software is protected from harm. Floods, hurricanes and tornadoes don't affect your system, and you don’t have equipment to protect. Hackers are the bandits of the cloud, but security systems are highly developed and cloud providers are constantly keeping an eye out for threats. The cloud is the safest place to house your financial accounting software.

Most small and mid-sized businesses are constantly engaged in a balancing act, trying to minimize cost and maximize performance. While the balance is not always easy to strike, cloud accounting offers some much-needed relief. You no longer need to endure the frustrations of on-premise financial accounting software or pay unbearable costs to achieve high functionality. If you haven't considered cloud migration for your business, you don't know what you're missing.

Is your business due for an upgrade? Learn more about SMB Suite's Financials packages or investigate the comprehensive cloudased ERP software that unites all of your business applications into one superior interface. 

Free eBook - 7 Tips To Improve Cash Flow With Financial Accounting Software

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Topics: cloud ERP, financial accounting

3 Ways Cloud ERP Spells Success For Businesses In The Nonprofit Sector

Posted by Kristen Howarth

Jun 12, 2014

cloud erp nonprofitEmployees in not-for-profit (NFP) organizations are familiar with wearing many hats. Your financial accounting employees may dabble in (or even be solely responsible for) HR, payroll, hiring, CRM and sales. But, you need your business management software to keep up with your momentum, your workload and your diverse to-do list. Enter: cloud ERP.

ERP software is the most versatile, integrative tool in a nonprofit's toolbox, and the cloud is the most flexible platform through which to host software. ERP in the cloud is the ideal combination of the two. Let's look at some of the benefits cloud ERP offers to nonprofit businesses.

1. Stress-Free Implementation & Maintenance

Your ERP software is meant to help your business run smarter. If implementation of the system means exorbitant system downtime, your organization suffers a lack of productivity, missed opportunities and financial losses. When you implement a cloud ERP solution, the entire setup and configuration process is done behind the scenes. Your organization keeps running as normal until you're ready to flip the switch and upgrade to a better ERP system in the cloud.

Your employees are already responsible for keeping your NFP organization running smoothly. From daily operations to big-picture strategies, they have enough to worry about. Adding server maintenance, manual configuration and software updates to the list is a fast way to burn your employees out. Cloud ERP software is hosted by a cloud provider. All the updates, configurations, bug-fixes and general maintenance are not your responsibility – they're performed by the specialists and experts on your provider's staff.

2. Less Cost

Traditionally, ERP systems were very cost-prohibitive – especially for nonprofits. Server space, data charges and upgrade fees are enough to break your budget. Cloud ERP solves this problem by eliminating the need for server space, allowing you to pay for the data you need as you need it and putting the onus on your cloud provider for upgrades, updates and maintenance. This helps you significantly cut overhead and helps your operation reallocate valuable resources to core business functions.

Further, cloud ERP is offered in a subscription format, making it simple to build into your budget: no hidden fees, no exorbitant upgrade costs and no paying for more than you use. You're given seamless access to the most current versions of software without the purchase cost.

3. Unlimited Scalability

The goal of every business is to grow and thrive, but it's easier said than done. You need the support of an effective, comprehensive software tool that helps promote growth. But, you also need a tool effective enough that you won't outgrow it when you do experience growth.

Cloud ERP is a tool that not only encourages your NFP business to thrive, but grows with you. You don't need to worry about trading in your ERP software when growth has caused your business needs to change.

In order for your not-for-profit business to operate efficiently, you need the right tools. The versatility and flexibility of cloud ERP makes it the ideal integrative system for all of your business management applications.

Learn more about SMB Suite's comprehensive cloud ERP software package, specially designed for NFP businesses. We're dedicated to providing the flexible functionality you need to keep your nonprofit running, growing and thriving. Try a free ERP demo or compare our packages today.

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Topics: cloud ERP, financial accounting, business software