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Posted by Info Info on Tue, Sep 16, 2014

This blog post originally appeared in the Nexonia blog. Nexonia gave us permission to publish it.


FraudCorporate fraud is a lot like a leak in your kitchen sink. It comes in small drops, day after day; cents and dollars quietly going down the drain. It may not even be really noticeable at any given time, but by the end of the year it all adds up to quite a bit. In fact, it adds up to approximately 5% of a company’s total annual revenue, according to the Association of Certified Fraud Examiners. And this is occurring even though corporate expenses are the second most controlled assets (next to salaries).

For a number of reasons, it’s the small businesses that suffer most from fraud because they are less likely to have control over employee spending procedures. Without defining and enforcing policies, without using some form of automation for handling expenses, and by rarely analyzing their financial flows - small businesses leave themselves open to these little leaks. Forgetting a receipt here and there or rounding up an expense once in a while becomes easy to get away with, and it all accumulates.

This is not to say that larger corporations are in the clear. Even though many may be better equipped to process expense reports with the checks and balances in place, more than half claim poor spending oversight and policy compliance from their employees. Moreover, according to the Aberdeen Group, one in three companies admits that it simply lacks spending control. That statistic is just way too high.

Here are a few of the most frequent ways employees are known to cheat the system:


    Was this meal a business lunch or was it hanging out with some friends? Was that a taxi to the airport to pick up an important client or a trip across town to visit family?


    Many companies do not require receipts for expenses up to a certain amount (ie: $25, $50 or $75), so it may be tempting to submit $49.95 for an “extra” working dinner without any proof. There’s also the possibility of fake receipts with an extra zero tagged on, or even an entirely new amount (think about all those hand-written receipts from taxi drivers). Some employees will go so far as to “borrow” a receipt from a friend (or even directly from a dishonest provider) and claim services which they never received themselves.


    Another case is credit card feeds and receipts being submitted separately for the same expense. Sometimes a single expense will be claimed a few times in different periods of time - weeks or even months after the service or the product was paid for.


    The services were delivered and the receipt is usually attached. But it looks like things are a bit more expensive than if the employees would have paid themselves... first class air ticket, luxury hotel room, the best restaurant in town, etc. Overtipping also falls under this category.

So what are you to do about all these (and other) possible types of fraud? What are the best practices for a company to protect their assets from misclaimed expenses? Based on an AirPlus survey, here is how corporations can effectively fight fraud:

Policies & approvals


    With emphasis on clear. The majority of companies (81%) require management approvals for business expenses and have a corporate spending policy in place.


    Two thirds of corporations (66%) require receipts for all expenses, no matter how small the amount is.


    Most respondents (59%) said they require employees use corporate cards for all corporate expenses. This can easily separate personal expenses from company ones, keep expenses organized, and serve as additional proof.


    Over half of the companies surveyed (52%) conduct a regular audit of expenses. Making sure your company also does this not only gives you better insight about your spendings, but increases discipline and compliance from employees.

At Nexonia we believe that simplifying your expense reporting leads to a better compliance. By automating the entire expense reporting process, you can keep your company’s money under control. Receipts and credit card transactions are immediately aligned with the expense report and can easily be accessed and audited at any time. The approval process and corporate spending policies are automatically enforced and streamlined, eliminating mistakes and miscommunication. With the ability to submit an expense directly from their mobile device, your employees can do so immediately after paying for a meal or while travelling back from a business trip. This not only reduces the time involved in completing and processing these reports, but it creates a digital paper trail that can be reviewed at any time. And all this data can be analyzed in any number of ways via custom reports, allowing you to see precisely how your corporate expenses are being handled.

Now that you are armed with all this information, what will you do to plug the leaks in your corporate finances? How will you choose to protect your company from possible fraud?


Tags: expense tracking, fraud prevention, fraud

Revenue Recognition: No Need to Wait!

Posted by Info Info on Thu, Aug 07, 2014

by Sing Wang

For contract and subscription-based businesses, revenue recognition can be a headache for their accountants. To stay on top of revenue recognition, accountants are challenged to keep pace with the fast-changing regulations and track revenue through incredibly complex transactions. Frankly speaking, it’s really a frustrating and time-consuming task.

If revenue recognition is an accounting issue for your company, and you wait too long to see your revenue reports, maybe it’s time to rethink your outdated accounting solution instead of blaming your financial team. 

Intacct accounting

As an accountant, I know how troublesome the revenue recognition process is. However, with Intacct Revenue Management, things become much easier.

Automate end-to-end revenue recognition process.

CPAs and accountants who report for project contracts and service licenses struggle with the complicated revenue models. The staff works hard, but still make mistakes because of countless calculations. Sometimes, things are even worse when you need to adjust a revenue recognition schedule because of some unavoidable events, such as client non-payment or breaking contracts. With Intacct, the accounting team doesn’t worry about these frustrations. Intacct increases your productivity and decreases errors by automating end-to-end billing, revenue recognitions, and renewal processes. No matter what services you offer, Intacct allows you to flexibly choose the specific revenue templates for each service. Also, Intacct helps you to automatically recalculate recognized and deferred revenue if you need to adjust scheduled revenue recognitions.

Eliminate the need for tons of spreadsheets and worries of non-compliance

Complex spreadsheets and error concerns are common in many, if not most accounting departments. However, we have been able to help several clients with those very issues. By integrating Intacct, the controller not simply needs to review the scheduled entries each month, because Intacct generates the entries directly from sales transactions, based on revenue recognition templates. In addition, cloud-based Intacct always keeps pace with the fast-changing recognition models and significantly reduces the risk of non-compliance with evolving regulations.

Gain anytime, anywhere access to all your financials.

Today’s CFOs requires timely, clean financial data. However, with traditional accounting solutions, it’s not possible to look at your financials, especially the deferred revenue, revenue recognition information in real time. Intacct enables anytime, anywhere access to all your revenue management reports, dashboards, and graphs. The visibility of Intacct revenue recognition helps you easily understand your revenue picture at any point in past, present or future and provides essential support for decision making.

If you are frustrated by the revenue recognition process and want to keep pace with changing standards, please feel free to contact us. We are happy to help you find an effective and efficient way. Revenue Recognition: No excuses to wait!


Sing is an intern working at BTerrell this summer. She is working on her accounting masters degree at UT Dallas.



Tags: Intacct, revenue recognition

Is your Accounting Solution Keeping Up with your Company’s Growth?

Posted by Info Info on Tue, Jul 22, 2014

by Siying Wang

Remember starting a small business and hiring that first employee? Setting up an entry level-accounting solution and generating that initial invoice was exciting! Probably, like thousands of other entrepreneurs, you chose QuickBooks as your entry-level accounting software. As a former user of QuickBooks, I know how simple it makes accounting. The basic information required to review the performance of a brand new business jumps right out of that system!

However, things change as a business grows. A company hires more employees and finds additional customers. Growing companies establish accounting departments, spawn related companies, generate hundreds or even thousands of projects, and create lots of invoices, purchases, bills, and human resource transactions. An entry-level accounting solution no longer keeps up, and all signs point to the need for something more powerful on which to base a company’s continued growth.

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As the leading mid-market cloud-based accounting solution, professionals frequently recommend Intacct to their clients outgrowing QuickBooks. As an accountant with both Intacct and QuickBooks experience, I also suggest that one consider Intacct as their company grows. Let's look at some of the reasons why Intacct might be the next right choice.

Cloud based, multi-entity, use anywhere, anytime

CPAs and accountants who must account for multiple, related companies struggle with QuickBooks. The staff works hard but still cannot close the books on time. Too much time gets wasted on logging in and out of each company’s database and communicating with other QuickBooks users in related companies. With Intacct, the accounting team musn’t worry about these frustrations, as Intacct supports remote workers accessing multiple companies concurrently. Also, Intacct automates related companies’ due to/due from transaction balancing. It boosts productivity and morale for an accounting staff by freeing them of tedious and time-consuming analysis and corrections.

Easy, but not “too easy” to use

Accountants in growing companies intuitively know that QuickBooks is probably not the right system for the long haul. I’ve had this feeling -- the software simplicity robs managers of the real information required to oversee the business. One spends valuable time exporting financial data to Excel or other outside systems instead of managing the business and serving customers. Intacct resolves these inefficiencies through the power of transaction dimensions and a configurable reporting and dashboarding engine.  Now, one can analyze management reports without spreadsheet pivot tables or other inconvenient reporting tools such as Crystal Reports.

More Security and No more IT Troubles

Unlike traditional accounting solutions, Intacct eliminates the time and money required by on-premises infrastructure and the resulting software maintenance and upgrades. In addition, few small to medium sized businesses can match the security of a cloud provider’s data center. Cloud computing protects an organization from natural disasters and data loss. Attention can now be refocused on business growth instead of IT problems.

If you are managing a growing business using QuickBooks, you may wonder if your company has outgrown it. We’re happy to help you answer this and other important business technology questions.  Please don't hesitate to give one of our professionals a call!

Tags: Quickbooks upgrade, managing growth, Intacct

A Fundraising Solution that Finance Directors and Development Directors will Love

Posted by Info Info on Thu, Jul 17, 2014

Submitted by Orange Leap

Orange Leap gives you a powerful, cloud-based fundraising solution that helps Development Directors address the needs of donors at every stage of the donor life cycle. Intacct gives you an AICPA preferred, cloud-based financial accounting solution that allows Finance Directors to focus on strategic analysis versus number crunching.

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Together Orange Leap and Intacct provide critical information, delivered through Intacct’s powerful dashboards to give real time information on:

  • Grant Management
  • Revenue by Funding Source
  • Program Outcomes
  • Top 10 Donors
  • Building Campaign
  • Annual Appeal
  • Fundraising Efficiency Ratios
  • Operating Expense
  • Operating Revenue
  • Grant Revenue
  • Functional Expense
  • And more…


Each stakeholder, manager and executive can have a dashboard that reflects the relevant data they need to further the success of the organization and fulfillment of your mission. 

Development Directors work daily to facilitate donor loyalty and communicate with donors with the end goal of influencing gifts and donor participation in fulfilling a shared mission, whether that is access to education or healthcare, providing material and spiritual assistance, seeking a cure to disease, or preserving and protecting wildlife.

What may be a compelling message for a major donor may not fit the bill for a first time donor. Development Directors understand the importance of crafting a message based on the donor’s relationship with the organization. Orange Leap helps Development Directors capture the heart of the donor at every stage of the donor life cycle – from acquiring new donors, to conversion, to retention, as well as regaining lapsed donors and the ongoing cultivation of donors.


When donors respond to fundraising campaigns online, Orange Leap’s integration to Intacct ensures that the gift is entered and visible to both accounting and development. If it’s a first time gift, the donor record is saved to both systems. No more rekeying of data. There’s no exporting of data from one system to input into another: the integration handles it in both systems. This comes as a welcome relief to your staff, but also, it means that the information is available and presented via the Intacct dashboard. 

If your organization would benefit from these efficiencies, BTerrell Group and Orange Leap would be happy to show how Intacct and Orange Leap can help your nonprofit. For more information, please contact BTerrell Group.


Tags: nonprofit, fundraising tracking, development management, Intacct

What CFOs Need to Know Now about Expense Reporting

Posted by Info Info on Tue, Jul 15, 2014

Written by Concur


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The economy is starting to wake from its sleepy slumber. Thank goodness! As jobs start to become available and hiring picks up, so, too, do the number of clients that companies will have in locations distant from their own. What does this mean? Well, as the hiring budget starts to loosen and increase as revenue from clients increases, the amount of travel will steadily rise, as well.

Whether the travel is domestic or international, the fact is, it all costs money. Flights, dinners, hotels, and rental cars add up. Many companies diligently work on their annual budgets, and they create bottom lines that are intentionally developed (at least in most cases) to be conducive to the travel of their employees without being too overzealous in allowances. What is usually not considered is the work that is necessary to monitor the expenses ongoing. Sure, someone or someones sign-off on each expense reports. The receipts may be reviewed. A signature or two makes its way on to the submitted sheet. And a check is issued. But how many companies have stopped to think about the inefficiencies in their expense reporting process that could actually save even more time and frustration after the flights are booked?

Here is a quick overview of how expense reporting systems can boost a company’s bottom line:

  • Business travel costs will be increasing. As the costs of sending employees out into the field go up, it will become ever more important to have systems in place to proactively regulate the expenses, rather than reacting to things that have already happened. Hotel rooms alone are expected to rise by an average of 5 to 6 percent.
  • Fraud happens. And although it is inevitable that a certain population of employees will always be creatively trying to get an extra dollar, cohesive expense reporting systems help identify fraud much quicker than the average 24 months that CNN reported a couple years ago.
  • Expense reports don’t have to be boring. When CNN Money interviewed Steve Singh recently, the Concur Technologies CEO was quick to explain that the expense reporting industry is keeping up with the times, offering apps that work with the traveling employees, on user-friendly platforms that make reporting easier.


Learn how having better visibility into your business can improve your company’s bottom line.

To learn more how Concur can help, visit


As a Concur partner, BTerrell Group is able to extend a 10 percent savings on any Concur solution you implement.  Please contact BTerrell for details.