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BTerrell Group Releases Workforce Go! HRMS Integration for Intacct

Posted by Info Info on Thu, Oct 30, 2014

Premier Intacct Partner Unveils New Integration with
AmeriFlex Workforce Management Solutions

DALLAS – October 30, 2014– BTerrell Group, LLP today announced the availability of Workforce Go!, a new integration between Intacct’s cloud financial system and the industry-leading AmeriFlex Workforce Management System.

Workforce Go! eliminates manual import/export of payroll and HR-related transactions by providing one-click synchronization between Intacct and AmeriFlex Workforce. Workforce Go! takes advantage of Intacct’s web services, enabling cloud-to-cloud, two-way synchronization of HRMS and financial data, including support for payroll transactions and Intacct dimensions.workforcego

“The most important asset most businesses have is their workforce, and now Intacct customers can take advantage of fully integrated HRMS technology to manage that workforce,” said Brian Terrell, Managing Partner of BTerrell Group. “Workforce Go! is the result of focused effort and collaboration, and we’re excited to bring best-in-class HRMS to the growing Intacct community of customers and partners.”    

“Intacct was designed to connect with other best-in-class cloud systems using automated two-way, system-to-system communication,” said Scott Lumish, VP of Business Development at Intacct. “Workforce Go! will enable Intacct customers to take advantages of leading HRMS software from AmeriFlex and highlights BTerrell Group’s commitment to helping customers extend the value of their Intacct system.”

Workforce Go! was developed by BTerrell Group in collaboration with a recognized Dallas-based human resources services and software provider, AmeriFlex Business Solutions.  

“Our technology team was able to achieve seamless integration between Intacct and our state-of-the-art cloud-based Kronos-engineered Workforce (HRIS) system,” Bart McCollum, president of AmeriFlex, said. “With this integration, employers will save hours of unnecessary data entry and the errors associated with maintaining redundant records. In short, they can manage both human capital and financial capital 'once and done.’”

BTerrell Group will be showcasing Workforce Go! as a Platinum Sponsor at Intacct Advantage 2014, the premier event for Intacct’s cloud financial management customers and partners, which is being held in Orlando, November 9 - 13.   

ABOUT BTERRELL GROUP
BTerrell Group, LLP, is a Dallas-based provider of financial technology services and of ERP, CRM and HRMS solutions to mid-sized companies. BTerrell Group specializes in the implementation and support of accounting and business management software, custom application development, and system integration. As resellers and consultants for Intacct cloud financials, BTerrell Group serves clients in Texas, Oklahoma, Arkansas, Louisiana and New Mexico. Please visit www.bterrell.com. Follow BTerrell Group on Twitter, LinkedIn, and YouTube.

ABOUT AMERIFLEX

Established in 1998, AmeriFlex is an independent administrator providing technology-based, consumer-driven benefits, compliance, and workforce management solutions to clients throughout the United States. With two corporate offices located in Dallas and Mt. Laurel NJ, AmeriFlex serves thousands of clients representing more than 3.5 million participants nationwide. For more information go to www.flex125.com.

 

Tags: Workforce Go!

BTerrell Group Announced as a Platinum Sponsor of Intacct Advantage 2014

Posted by Info Info on Tue, Oct 07, 2014

President’s Club Member and Premier Partner to Sponsor Premier Event, Will Also Unveil Highly Anticipated Intacct Integration

DALLAS – October 7, 2014– BTerrell Group, LLP today announced it is a Platinum Sponsor of Intacct Advantage 2014, the premier event for Intacct’s cloud financial management customers and partners, being held in Orlando, November 9 - 13.    

“We believe in the value of Intacct to our customers and benefit greatly from Intacct’s annual event,” said Brian Terrell, CEO of BTerrell Group. “This demonstrates the commitment and belief we have in Intacct and its products. Attendees will also want to be sure to  visit us at Booth 630 in the Advantage Marketplace Expo, where we’ll offer them a sneak peak at our exciting new product integration for Intacct. ”

“It’s exciting to see BTerrell Group’s involvement and sponsorship at our premier event of the year,” said Taylor Macdonald, vice president of Channels for Intacct. “We’re very grateful for BTerrell Group’s partnership and contributions, and we look forward to continuing our mutually beneficial relationship as we build long-lasting, joint customer relationships together.”  

In addition to its Platinum Sponsor status and new product announcement, BTerrell Group’s president, Keith Karnes, will present a breakout session on “Using the Intacct Platform To Drive Your Unique Business Practices” on Wednesday, November 12, from 10:15 to 11:15 AM. 

BTerrell Group recently received recognition as a prestigious 2014 Intacct President’s Club member, due to “…its outstanding practice growth, expertise in delivering complex solutions, mastery of the Intacct development environment, and high levels of customer satisfaction.” Earlier this year, Intacct named BTerrell group one of Intacct’s first Premier Partners, the highest level of partner recognition from the leading cloud financial software provider.

BTerrell Group, with its CodePartners division, employs 10 Intacct consultants trained in Basic and Advanced Implementation and Configuration, as well as three Intacct developers trained in Intacct Platform and Web Services.

ABOUT BTERRELL GROUP
BTerrell Group, LLP, is a Dallas-based provider of financial technology services and of ERP, CRM and HRMS solutions to mid-sized companies.  BTerrell Group specializes in the implementation and support of accounting and business management software, custom application development, and system integration.  As resellers and consultants for Intacct cloud financials, BTerrell Group serves clients in Texas, Oklahoma, Arkansas, Louisiana and New Mexico. Please visit www.bterrell.com.  Follow BTerrell Group on Twitter, LinkedIn, and YouTube.

ABOUT INTACCT ADVANTAGE 2014

Advantage 2014 brings together Intacct customer and partners to discover what’s new, share best practices, and learn how Intacct can help grow their business. As the premier event for the Intacct community, Advantage 2014 offers attendees more than 70 product, industry, hands-on, and customer panel sessions. This year’s conference will include an expanded Marketplace Expo, featuring the broadest range of best-in-class, cloud-based solutions that integrate with Intacct. Learn more about Intacct Advantage by visiting www.intacct.com/advantage.  Follow Intacct Advantage on Twitter using #IA14.

 

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Tags: Intacct, Intacct premier partner, Intacct advantage 2014

FRAUD AND HOW TO FIGHT IT

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.

WHAT FRAUD CAN LOOK LIKE AND HOW TO PROTECT YOUR BUSINESS.

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:

  • SUBMITTING PERSONAL EXPENSES AS CORPORATE

    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?

  • FAKE OR MISSING RECEIPTS

    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.

  • MULTIPLE CLAIMS FOR THE SAME EXPENSE

    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.

  • EXAGGERATED EXPENSES

    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

  1. CREATE CLEAR POLICIES AND APPROVAL PROCESSES

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

  2. REQUEST DOCUMENTATION AS PROOF

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

  3. TRACK THE TRANSACTIONS

    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.

  4. AUDIT AND ANALYZE OFTEN

    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

BTerrell Group Named to 2014 Intacct President’s Club

Posted by Info Info on Fri, Sep 05, 2014

September 3, 2014 – DALLAS – BTerrell Group, LLP today received recognition as a prestigious 2014 Intacct President’s Club member. In a release from Intacct, the company said BTerrell received this award due to “…its outstanding practice growth, expertise in delivering complex solutions, mastery of the Intacct development environment, and high levels of customer satisfaction.”Intacct logo

“We are thrilled to be recognized by Intacct in this manner,” Brian Terrell said. “We work hard to educate companies on the benefits of Intacct and how it helps our clients do more work with less effort.”

BTerrell Group, with its CodePartners division, employs 10 Intacct consultants trained in Basic and Advanced Implementation and Configuration as well as three Intacct developers trained in Intacct Platform and Web Services.

BTerrell Group joined Intacct as a Channel Partner in January 2013. Since then, the company achieved Intacct Premier Partner status, which recognizes Channel Partners meeting a stringent set of technical and business development requirements. 

Tags: Intacct, accounting system

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