Author Archive
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Flexible financial statement setup with filtering
After a few years, as company needs change, new General Ledger accounts are added - and eventually the accounts in the Chart of Accounts may not always be set up in the order you'd like to see them on financial statements. With TRAVERSE 11, it is easy to select which GL accounts belong where on your statements with the use of 'filtering' in the TRAVERSE Contents setup section. In the detail screen for a row in the Contents, simply select multiple filter records and enter accounts that are not consecutive. You can choose from many filtering options such as "Is Between", ...
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Printing MICR Checks with OSAS
With OSAS 7.6 (BBj) you can print checks - including the MICR information - on blank check paper. After installing the MICR font on your system, select the BLANK FORM check type for Accounts Payable and/or Payroll in Resource Manager / Options and Interfaces and start printing! This is another great way to protect against fraud - by locking away the MICR toner when not printing checks.
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Tracking rental equipment for occasional use
Rather than investing in add-ons or third party software for QuickBooks to track equipment rented out - particularly if you’re not in the rental equipment business and don’t have tons and tons of tracked items - here’s an easy work-around; use timesheets instead. Set up a non-inventory item for each piece of equipment Assign an “Other Name” to each piece of equipment to be tracked Use timesheets to enter the dates and times the equipment is rented out Optional bonus - you can mark ...
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Simple tips to reducing risks of check fraud
Has your company been subject to check fraud? Chances are you will at some point. In 2010, 71% of organizations experienced attempted or actual payment fraud. This has resulted in thousands of dollars in business losses and even bankruptcy. Employee theft is sited as responsible for one-third of business bankruptcies in a U.S. Chamber of Commerce survey. Because checks are the most wide used payment methods for business, the greatest financial losses from payment fraud are attributed to checks. Taking proactive measures to protect your company against check and payment fraud can go a long way ...
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Bank Reconciliation’s recurring entry saves time (T)
Does your bank charge the same fees each month? Or, do you have certain recurring payments that come out of your bank account automatically each month? To save yourself time with data entry as well as a reminder to enter these monthly recurring entries in Bank Reconciliation, use the ‘Recurring Adjustment’ feature in Bank Reconciliation for them. In Bank Reconciliation-> Set Up and Maintenance-> Recurring Adjustments, select the bank account for the adjustment, the payment number and enter the dollar amount to be deducted. Next, enter the debit or debits that these amounts will be expensed to. When you enter Bank Reconciliation-> Transactions-> Transactions, update and select ...
