TRAVERSE
-
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 ...
-
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 ...
-
Protecting your computer from ‘malware’
It seems like only yesterday when viruses and spyware were at the top of the list of PC annoyances. Today, the evolution takes us to its next kin...Malware. With malware, all you need to do is make one wrong click and *BAM*, you're infected and there is little left to do with your PC other than call your computer tech and wait until it's remedied. There are no tools available right now that can proactively protect you from certain infections because they are "click induced". This means that the spreading of infection requires that you CLICK on something to trigger the ...
-
Tracking sales rep commissions (O/T)
Keeping up with sales rep commissions can be an arduous task if you are not using the built-in commissions function found in Accounts Receivable. Commissions due can be calculated based on: 'booked sales’ (when the sale is posted) or when the customer has ‘paid’ the invoice percentage of the entire invoice - or percentage of the gross profit of the invoice individual line items of an invoice Also, two Sales Reps can also ‘share’ in the commissions for a particular invoice.
-
Password management
Ask anyone about their 'password retention policy' and you'll hear many variations of how they use this or that software for this and that reason. When it comes down to it, there are all sorts of reasons to use software to manage your multiple passwords. Another method that can be very effective is using the same password on every account. While this could potentially provide unwanted access into many accounts, using the same password and changing it periodically also makes your password a moving target and difficult to be broken. However, if you have many passworded accounts, ...
