BTerrell Group Blog

Susan Liles

Recent Posts

Get Control Over Your Fixed Assets with Sage Software

Posted by Susan Liles on Mon, Aug 26, 2013

Control over fixed assets can become a significant issue, especially for a growing business.  Identifying all business assets, recording them properly and depreciating them appropriately is a time consuming and tedious task.  There is a substantial risk of error with manual processes.  Sage Fixed Asset Solutions has developed an array of products that have been used by businesses over the last 30 years to tighten controls and reduce costs.

A Sage solution can be found for all types of businesses and sizes of fixed asset inventory.  Large inventory across multiple sites?  Barcoders read data that is then reconciled and depreciated at one central location.  Sage Fixed Asset software can help eliminate redundant data entry, increase accuracy, and reduce costs while guarding against regulatory noncompliance.  Each solution combines numerous tax and accounting rules, as well as more than 50 depreciation methods and an intuitive interface.

Sage Assets Snapshot Report example:

Sage Asset Snapshot Report

Sage Asset Detail Report example:

Sage Asset Detail Report

Want to see data like this at the click of a button?  Contact BTerrell Group for a 30-minute consultation and we'll show you how.

Tags: Fixed assets, Sage Fixed Asset Software, Sage

Intacct: Separating Invoicing from Revenue Recognition

Posted by Susan Liles on Fri, Aug 09, 2013

BTerrell Group is now billing our company’s projects through Intacct, and are excited to see the new financial reports by project in the coming month. 

A great feature of billing with Intacct’s Project Accounting is that we can set up billing templates separate from revenue recognition templates.  Thus we can create invoices based on the milestones we set in the project, but recognize revenue on another standard.

In this instance, we apply a Billing Template for invoicing the following milestones:

  • 30% upon project acceptance
  • another 40% upon project delivery, and
  • the final 30% upon project signoff. 

On the same billing document, a different Revenue Recognition Template has been applied which has been designed to recognize 10% of project revenue every time the actual hours booked on the project reach the next 10% level of estimated hours on the project.

Intacct: Invoicing and Revenue Recognition

These settings help us to easily reach our billing and revenue recognition goals, with no further effort after the initial setup. 

Would your staff time decrease by having a similar system?  Contact us for a consultation!

Free Consultation

Tags: Intacct, revenue recognition, invoicing, separating invoicing and revenue recognition

My Favorite Features of Intacct, Part 2: Dashboards

Posted by Susan Liles on Fri, Jun 28, 2013

My last blog highlighted that BTerrell Group is converting our internal books to Intacct, and we're having fun with some of the features.  We’ve set up the dimensions of location, department, project, vendor, customer and employee to be able to easily slice and dice the data and report margins several ways.  I’ve used the handy ALT+D+ALT+Enter keystrokes to open a contemporaneous instance to check data or tweak a report without having to exit what I’m doing.

Now I’d like to highlight a couple more features that have made this transition easy and fun.  I want to create a dashboard with a real-time P&L by customer.  Sounds complex, right? How long do you think that will take?  The answer's an easy one...it takes just a few steps and we have a new report in the dashboard in just a few minutes.  

Let's walk through the process:

Step 1:  Select a report that is similar to what you want.  Click on the magnifying glass icon to open up the report definition.

Intacct Dashboard: Select Current Report

Step 2: Duplicate the report and save it as another name.


Intacct Dashboard: Renaming Existing Report

 
Step 3:  Find the new report in the list and click the crayon icon to edit the report definition.

Intacct Dashboard: Edit Report Definition
 
On the Columns tab, change the reporting period from Current Month to Current Year through Current Month.


Intacct Dashboard: Change Reporting Period

 
Then change the Expand by definition from None to Customers: All levels with individual balance.  Save the report.


Intacct Dashboard: Change Expand by Definition 

Step 4: Select the Create New Dashboard option in the Dashboards menu.  

Intacct Dashboard: Create New Dashboard
 
Enter a title in the Properties screen and save.


Intacct Dashboard: New Dashboard Title

 
Step 5: Select the Edit Components function on the dashboard just created.


Intacct Dashboard: Edit Components

 
Click Add, then select the report that you want added to the new dashboard.


Intacct Dashboard: Adding New Report to Dashboard

 
Select Live vs. Snapshot to keep the report current, and save the dashboard.

Intacct Dashboard: Keep Report Current

The new dashboard appears with the live report!  (Note that data presented is completely fictional)

Intacct Dashboard: New P&L by Customer Report in Dashboard

 
Visit www.bterrell.com for more info or schedule a free 30 minute consultation to explore if Intacct would be a great fit for your company. 

A new setup in a new system could be the start of a completely new way to see your business!

Get a FREE 30 Minute Consultation

Tags: dashboard, intacct dashboard, Intacct

My Favorite Features of Intacct

Posted by Susan Liles on Mon, Jun 17, 2013

We’ve been converting BTerrell Group's own books to Intacct.  It’s been a great learning experience, considering we are multi-entity and multi-currency requiring global consolidation, we want to measure margin by project, our project billings require revenue recognition, and our managers want customized dashboards.  This setup has not been a walk in the park (but, don't worry - we're learning on ourselves so we can help our clients)!  During the process, however, I’ve become fond of a few features within Intacct.

See The 3 M’s of Accounting: Multi-entity, Multi-location, and Multi-currency.

Dimensions
Transactions can be ‘tagged’ with different dimensions, which then can be used as report filters.  Not only does this kick up the breadth and depth of reporting, it streamlines the chart of accounts.  All office expenses are charged to account 58000, Office Expense, and depending on the setup, can require these different dimensions at entry:  Department, Class, Location, Project, Customer, Vendor, Employee or Item.  I hear the groans – yes, it does require some input time, but it saves much time exporting data and creating pivots around fields.  Finally, the standard dimensions can be renamed to fit your business, and custom ones can be added.

Here's a screenshot of project and vendor selections as part of an AP bill entry:
Screenshot of Dimensions Feature in Intacct

 

 

 

 

 

Contemporaneous instances
Contemporaneous Instances in IntacctA handy feature when looking at transactions in different entities, or comparing the setup of two different reports is ALT-D-ALT-Enter.  Those magic keys open a separate instance of the same company, so that you can view and manipulate a different piece of the same real-time data in a different window.  This has saved time and a few brain cells.

What's your favorite feature?

Feel free to check out Intacct for yourself during one of their product tours, or we'd be happy to give you a demo.



Tags: dimensions, contemporaneous instances, Intacct