What is the “Cloud”? Why should I consider switching to Cloud Computing? Both very common questions and the answer is simply, to bypass wasted time,money and product limitations and to achieve a more efficient, centrally controlled business. Stop wasting time with bulky, annoying and unnecessary dollars and hours spent on traditional business applications. Moving to Cloud Computing will allow you to access all your business apps from anywhere the Internet is available without worries concerning servers, office space, power, etc. Cloud computing is offered by some business management system companies and one of the best is Accumatica.

Accumatica is a web-based financial and business management system which improves the productivity of your organization. The software runs on servers in your private network,  hosted or in a SAAS cloud  environment, which allows it to be accessed from anywhere.

Accumatica can be used by small companies with specialized requirements, or it can be used in multi-entity organizations with thousands of employees operating in many countries and in many currencies. Accumatica provides a robust set of core financial and CRM features which can be in any industry.

Read the complete article here.

Version 4.4 focuses on Inventory management, purchase order, bill of materials and bar code areas of the system but is not limited to these sectors. Backed by 20 years of experience in fabricating “top of the line” ERP Solutions Mas 90 and 200 manages to keep up with new technology making your business run smoothly and efficiently.

Providing your company with a wide array of Benefits such as:

-Improved productivity with more information in expanded customer and item numbers
-Upgrade more conveniently with significantly less downtime
-Simplify the process of applying customizations that survive upgrades
-Dual Grid streamlines data entry throughout core Accounting, Distribution, and Bill of Materials
-Increase Productivity by accessing data with fewer clicks
-Personalize reports, views and other options throughout the system

Read the complete article here.

AccountMate Software Corporation announced that it is releasing AccountMate 8 for SQL and Express software which incorporates over 100 enhancements and an entirely new module.

AccountMate 8 gives users added functionality such as the ability to drill down on the details in the Executive Summary Report, the ability to temporarily hold or increase customer credit limits, combine electronic payments during bank reconciliation, allocate quantity updated during work order explosion and support multi-step processing of work orders.

An entirely new module, The Custom Field Manager, is also being released. This optional module allows an authorized user to add custom fields to new tabs within all the accounting modules. These fields can also be added to the database.

Custom fields can be read-only or editable in select screen forms. This makes it easier to customize the software to capture additional information that the client may require, without having to modify the source code.

AccountMate products are supported by a global Solution Provider Channel that can also modify the software system using optional source code. This added capability plus the functionality in AccountMate 8 for SQL and Express further
allows unlimited growth and competitive advantage for the thousands of AccountMate clients.

Read the complete article here.

With the changing technology and increase in electronic payment transactions businesses have been able to expand to markets around the world. Millions of people in the U.S. make purchases online and via credit/debit cards. How do you protect yourself and your business from financial fraud?

As technology advances so must the security measures. To act as a guard, merchants should update their PCI(Payment Card Industry) and DSS(Data Security Standard) Compliance. Since 2005 over 234 Million records with sensitive financial information has been breached. By updating your PCI-DSS you will maintain your professional integrity and protect you and your from loosing thousands of dollars to hackers and thieves.

Read the complete article here.

What is Sage Exchange?

Sage Exchange puts you in control of your payment processes and data integration. This payment platform is a versatile PA-DSS certified environment that facilitates the exchange of payment data to and from business software and related applications.

With Sage Exchange you can feel confident in accepting credit and debit cards through an ultra secure, PA-DSS certified payment platform while automatically updating your business management system with valuable data from each transaction. Sage Exchange will be introduced through a series of releases to integrate all methods of payment with a wide range of Sage and third party business solutions to automatically update your receivables and payables records within a secure environment. This seamless integration between payment and back office applications will improve your business’ cash flow and forecasting while eliminating manual transaction data entry, validation, and the risk of errors.

The initial release of Sage Exchange will connect to a new and exciting Sage Exchange Virtual Terminal with card swipe capability, new best-in-class encrypted point-of-sale terminals, many Sage software products, and several additional business applications. It will support payments integration in approved software solutions now, and expanded capability with point-of-sale devices in the next release.

Sage Exchange Key Features and Benefits*

* Integrates payments with your accounting system
* Improves cash flow management and forecasting
* Reduces fraud exposure and PCI compliance costs
* Provides a consolidated view of payment activity
* Automates data entry for accounts receivables and payables
* Eliminates manual data entry and reduces the risk of errors

* Sage Exchange features and functionality will be released in stages.

Who Can Benefit From Using Sage Exchange?

Every company buys and sells goods and/or services. Sage Exchange will provide the robust platform necessary to accept and make payments for those goods and services while seamlessly accounting for and tracking those payments. Below is a brief snapshot of who will benefit from Sage Exchange.

Suppliers – any company that provides goods and services to other businesses.

The methods available to accept payment for goods and services impact a supplier’s accounts receivable records. Through a series of progressive product releases, Sage Exchange will enable acceptance of all types and methods of payments and automatically update A/R and A/P records in your accounting software. This increases the value of your business management system, creates more visibility and controls to your cash position and reduces your days sales outstanding (DSO) increasing cash flow.

Buyers – any company that purchases goods or services for their business.

The methods available to generate payment to vendors and suppliers impacts a buyer’s accounts payable records and days payable outstanding (DPO). Future versions of Sage Exchange will automate payment origination through electronic payment processing increasing visibility and control over DPO and streamlining back-office payment processes.

Software developers – any person that develops business management software or builds extended functionality to software.

Sage Exchange offers a tool kit for developers to enable the integration of payment data with software solutions as well as eliminating developers from PA-DSS certification fees and associated costs.

How It Works

Sage Exchange was designed from the start with an extremely versatile architecture using advanced network technologies that will allow for ongoing enhancements to quickly and significantly expand the range of payment solutions, business applications, and data integration.

Sage Exchange Diagram

Components of Sage Exchange

Payment Acceptance

Sage Exchange Virtual Terminal

Next generation virtual terminal with card swipe capabilities that does not time out. Log on to the virtual terminal in the morning and securely and conveniently process payments all day by either keying in the information or swiping the card.

Sage Exchange Payment Devices

Process credit and debit cards using devices that have the latest browser-based technology and are designed with convenience, security and functionality in mind. Both countertop and wireless PED compliant solutions are available.

Sage Software Products

Sage Exchange will be built into a wide range of Sage software products enabling secure, turnkey payment acceptance from within your Sage solution automatically updating your system with credit and debit card transaction data.

Sage software products with Sage Exchange integration – First Release:
Business Management Solutions
Peachtree by Sage                                  Timeslips by Sage
Sage ERP X3                                              DacEasy by Sage
Simply Accounting by Sage               Sage BusinessVision
Sage Pro ERP
Nonprofit Solutions
Sage Fundraising 50
Sage Fundraising 100
Sage Fundraising 100 – Rainbow Edition
Sage Millennium
Healthcare Solutions
Sage Intergy

Sage software products with Sage Exchange integration – Coming Soon:
Sage MAS 90 ERP                               Sage Accpac ERP
Sage MAS 200 ERP                            Sage Medical Manager
Sage MAS 500 ERP

Certified Business Applications

Sage Exchange approved business software applications such as expense management and electronic invoicing will support expanded payment functionality and improve efficiencies. Some business applications may initially be standalone, however, seamless integration between the business application and your business management system will exist with future releases.

Payment Origination

Initiate payments to your vendors and suppliers, in addition to processing payments, through Sage Exchange with our payment origination solutions.

Take a Vacation From Long-Term Financial Concerns: Use Peachtree’s Budgeting Tools

As summer winds down and vacation time for your kids dwindles, you’re probably making plans for next year’s adventures. You may be relaxed from your time off and full of ideas about what—and what not—to do next summer, based on how this year’s time off went.

Peachtree’s budgeting tools can provide the same combination of relaxation and anticipation in your professional life. Rather than wondering whether you’re making enough money every month to meet expenses (and how that will play out long-term), you’ll be able to track cash flow, spot problems ahead of time, and tweak your financial blueprint. And the knowledge that budgeting affords you will help you plan for future years.

Numerous options

Budgets are not available in Peachtree First Accounting. Peachtree Complete and Pro offer limitations (a single budget) that Peachtree Premium doesn’t have.

To get started (with Premium and sample data as our example), click Maintain | Budgets. A large grid-like screen opens, looking something like this:

Peachtree Premium’s budget grid works similarly to a typical spreadsheet.

First, enter a name for your budget in the Budget Name field. Write a description if you’d like. Tab to the first Type drop-down list. You’ll have several options here, including Income Statement Accounts, Balance Sheet Accounts, and Accounts Receivable. Select Income Statement Accounts to make your budget as comprehensive as possible.

You can further filter the content for your budget in the Segment fields. You can pare down your budget by selecting Departments, GL Accounts, or Wildcards (All is, of course, another option). If you’ve opted to pull out a subset, pull down the list next to Equal to:, and choose an entry there (the Equal To: list will change to reflect your choice).

To Show Inactive, check that box, and then select a fiscal year for your budget. Click Save on the toolbar.

And Now he Hard Part…

If you’ve never created a budget before, you may have some work ahead of you. You’ll need to enter numbers in all applicable cells in the grid. Consult your accounting professional if you’re taking this on. You’ll be able to edit the budget as the year goes along, but it’s important to be realistic about your prospects from the start.

If you’ve been using Peachtree faithfully for more than a year, you’ll have a much easier time of it. You can pull in actual data from your Peachtree file to fill in the cells.

Click on Autofill in the toolbar, and you’ll see this dialog box:

If you have an existing budget from a prior year, or have been using Peachtree for more than a year, you can automate much of the budget process.

Click the first button to select it, and click Next. To move fiscal year 2010’s data into FY2011, select This Year in the first drop-down list. The dates in the next two fields should change to match it. If your fiscal years start on January 1, select that date in the drop-down list below; otherwise, select the appropriate date. It should look like this:

It’s easy to set up a transfer of Peachtree data from the current year into next year’s budget.

Click Finish. Your prior year’s data now displays as budget totals for next year. Of course, you’ll be missing the last few months of 2010 when you run this example. You can either extrapolate or wait until closer to year’s end to run a complete budget.

You can also copy one budget to another. Open the desired budget, click Autofill, and select Copy amounts from the open budget.

More Useful Tools

The toolbar gives you access to other tools that further extend the usefulness of your budgets. You can use these tools to help you:

• export your budget to Excel for additional massaging
• attach related documents to your budget
• take notes
• or run reports.

The latter is critical. Peachtree Accounting helps you keep an eagle eye on how you’re adhering to your budget. You should run these reports often to evaluate your current situation and plan for future budgets.

Peachtree provides numerous tools to help you work with your budgets.

Be Budget Smart

You can’t successfully run a business without a carefully crafted budget any more than you can erect a building without a blueprint. Before getting started with the budgeting process, give us a call and we’ll help you make the right moves.

So what are these business advantages being promoted? I will outline these advantages tagging them as being financial, technical or operational.

1. Low Initial Investment (Financial): – The biggest complaint with Traditional-On-The-Premise software is the upfront cost. This usually is the total cost of the software, annual maintenance and support, and the cost to implement the software. For small and mid-sized companies this can be the deal breaker. With the SaaS model, companies rent the use of the software usually in the form of a monthly per user. Annual maintenance and support included.
2. Decrease time to deployment (Technical): – Traditional-On-The-Premise software requires quite a bit of resources ( hardware, software, security, technical personnel) that may not be readily available to small and mid-size businesses. With the SaaS model this is all left to the SaaS provider who since this is their business will have your solution deployed in hours rather than days or weeks. An underlying benefit of this advantage is that small or mid-size businesses can focus more on their business process rather than the technology side.
3. Accessibility (Operational): – Unlike Traditional-On-The-Premise software, which requires that a user to be on site or use such technologies as Terminal Services to access the software, SaaS is accessed and delivered via the internet thus making it use anytime and anywhere.
4. Reduced Technical Resources (Financial):- Let’s face it one of the biggest expenses facing small to mid-size companies is that of maintaining their technical resources which supports their Traditional-On- The-Premise software. SaaS solves this since the applications are housed in a state-of-the-art data center maintained by qualified personnel and to which their services are covered in the monthly subscriptions.
5. Access to the latest innovations (Operational):- With Traditional-On-The-Premise software, you typically have to wait for the next release to benefit from the latest innovations. Given the cost and complexity of moving to a new version, it may not even be practical to upgrade each time a new release becomes available. With a SaaS subscription, on the other hand, you benefit from innovations on an on-going basis. As soon as a new or improved feature appears in the application, you can begin using it.
6. Platform Independence (Technical):- SaaS based solutions are hosted centrally with the service provider. No software to be installed at the customer’s premises. The software can be accessed via the Internet. On Demand applications can be used by Windows, Linux or Mac users, providing true platform independence.
7. Focus IT initiatives (Financial/Operational):- With an outsourced IT resource SaaS substantially takes the burden off your IT staff in managing upgrades, troubleshooting problems for third party software applications. This help companies to direct their limited in-house IT resources towards more focused business oriented initiatives. It also means that this cost savings from using SaaS applications can be flat out saved, or reallocated to boost productivity through other services.

Backing up your data is not something that is at the top of your list, but it should be.  It’s something you know you should do but you may pass it off as an optional task that can always be done later. Here are five reasons why you should start backing up your files and what you can do to start backing up your data in minutes.

1. Recreating what you’ve lost

   Without a backup system you may have to re-enter all of the data because your files have gone corrupt. Having a backup solution means less headaches and the potential to be ready for that next opportunity.

2. Viruses and Trojans are on the rise

   With roughly 10-25 new computer viruses discovered per month, it becomes almost impossible to protect data with an antivirus alone. It is always great to have a plan B (your backup solution) so in the event of data loss, you’re not faced with a catastrophe.

3. Data recovery is expensive

   If your hard drive fails (it happens more often than we’d like to think), data recovery services can run in the hundreds of thousands. By having a backup solution, you lessen your expenses by having your own means of recovering your data.

4. Storage is cheap

   If you opt for on-site backup (on your premises), there are external drives that cost a few cents per GB. However, on-site backups shouldn’t be your only solution as they do not protect your data in the event of a flood or fire (which brings me to reason number 5).

5. There are free or low cost online backup services

   Sometimes having an on-site backup is the first step but it may not be enough. Fires, floods and even theft can thwart your efforts to backup your data. By having your data stored at a secure, online backup service, you can give yourself some confidence that you have another option in the unfortunate event that either of the above occurs.

Having a backup solution is critical for survival in a technology era. Computers failing, hitting that delete button accidentally and nature’s unpredictability are all reasons to consider a backup, and with viruses on the rise and the decrease in the cost to backup your data, why not start now?

Do you have any stories to tell us? Leave a comment below.