TRAVERSE
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Proofing financial statements (O/T)
As new General Ledger accounts are added during the year, it’s possible an account was added to the Chart of Accounts, but not added to the Balance Sheet or Income Statement reports. One way to confirm that all accounts are included in the statements is to print the Income Statement and the Balance Sheet reports for the latest period and compare the Year-to-Date Income/Loss amount on the Income Statement to the Year-to-Date Income/Loss on the Balance Sheet. If these figures are different, then you most likely have a Revenue or Expense account missing from your Income Statement. There are different ways to determine which accounts are ...
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Improve operations and cash flow with email and fax (O/T)
Did you know that you can email or fax many forms within your software? Direct deposit vouchers, customer invoices and statements as well as purchase orders and ACH vouchers can all be emailed or faxed directly from OSAS and TRAVERSE. As long as you have faxing software and an email with an SMTP server you can set up your software to automatically email and fax. To activate, turn on the email and faxing options in the Options and Interfaces (OSAS) or Business Rules (TRAVERSE) section. Then in the Customer, Vendor and/or Employee set up areas define ...
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Aged Trial Balance versus Open Invoice Reports – what’s the difference? (O/T)
The Aged Trial Balance ages the invoices that fall within the date ranges you specify and allows you to go back to certain periods in time. This is especially handy when reconciling invoices for the prior year a few months into the next year against the Accounts Receivable account in the General Ledger. It will even show those invoices that have subsequently been paid since the period or date that you are running the ATB for, providing the paid invoices haven't been purged yet. In Accounts Payable and Accounts Receivable, the Open Invoice Report for ...
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American Stimulus Update (O/T)
In conjunction with the American Recovery and Reinvestment Act, new payroll updates for TRAVERSE and OSAS have been released. These payroll updates include new Federal Married, Single and EIC tax tables and a revised 941 form. The 941 form allows for COBRA payments made by the employer on behalf of layed-off employees to be reimbursed to the employer by reducing the federal taxes paid for each payroll. These modified 941 program and new tax table updates are available to OSAS or TRAVERSE users who are current on their annual software maintenance plan. If you have not received the ...
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Using Cash Flow reporting to get a handle on where your money is coming and going (O/T)
Your Bank Statement shows the incoming and outgoing of your cash, but what it does not show is how the money was spent; for example for on Operations, Financing, or Investing? Operating Activities show how much cash is generated in the day to day delivery of products and services. Financing Activities show how much cash was generated by debt or equity financing. (Or, the flows between the organization and the folds who help finance the organization through debt or equity. Investing Activities details how much cash the entity made and used in making investments in other entities, such as the purchase of stocks, bonds, or other ...
