1 / 29

Setting up Systems to Manage Your Business

Setting up Systems to Manage Your Business. Presented By: Trudie Carlesso. Agenda. First Things First Record Retention Accounting Systems Other Software Tools Selecting a System Implementing Systems. First Things First. First Things First.

merrill-bryan
Download Presentation

Setting up Systems to Manage Your Business

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Setting up Systems to Manage Your Business Presented By: Trudie Carlesso

  2. Agenda • First Things First • Record Retention • Accounting Systems • Other Software Tools • Selecting a System • Implementing Systems

  3. First Things First

  4. First Things First • To incorporate or to not incorporate, that is the question • Find an Accountant and a Lawyer • Business Number • Sales Taxes • Licenses • Contracts

  5. Definitions • Software as a Service (SaaS) • Client Server • ERP (Enterprise Resource Planning) • Integrated • Interfaced • Customization • Software Maintenance and Support

  6. Record Retention

  7. What is a Record? A “ 'record' includes an account, an agreement, a book, a chart or table, a diagram, a form, an image, an invoice, a letter, a map, a memorandum, a plan, a return, a statement, a telegram, a voucher, and any other thing containing information, whether written or in any other form.”

  8. Records Must... • Permit the taxes payable or the taxes or other amounts to be collected, withheld, or deducted by a person to be determined • Permit the verification of all charitable, athletic, and political donations received for which a deduction or tax credit is available • Be supported by source documents that verify the information in the books and records.

  9. Source and Other Documents A source document includes items such as sales invoices, purchase invoices, cash register receipts, formal contracts, credit card receipts, delivery slips, deposit slips, work orders, dockets, cheques, bank statements, tax returns, and general correspondence whether written or in any other form. Other documents, whether written or in any other form, including supporting documents such as accountants working papers that were used to determine the obligations and entitlements with respect to taxes payable, collectible or to be remitted, are considered part of the books and records of the taxpayer and must be made available to the CRA.

  10. Accounting Systems

  11. Manual Systems • Paper or Spreadsheet based • Labour intensive • No investment • Lack of Management Reporting • Accountants and Government prefer this less

  12. Small Business with Simple Requirements • Basic functionality • A/P, A/R, General Ledger • Purchasing • Order Entry • On premise solutions • QuickBooks • Simply Accounting • Peachtree • SaaS solutions • Freshbooks • Kashoo • Zoho • Industry Specific Solutions Budget anywhere between $120 and $3,000

  13. Small to Medium Business - Moderate Needs • More robust ERP functionality • A/P, A/R, General Ledger • Fixed Assets • Light Distribution • Light Manufacturing • Better reporting • Other Optional Modules • CRM • Planning & Scheduling • Service Management • Project Management • Business Intelligence • On premise solutions • Accpac • SAP Business One • Microsoft Dynamics GP • Microsoft Dynamics NAV • SaaS solutions • Netsuite • Microsoft Dynamics GP • Microsoft Dynamics NAV • Intacct • Industry Specific Solutions Budget anywhere between $10,000 and $50,000 for a 5 user system

  14. Medium to Large Business – Complex Needs • Functionality in all areas is very deep and broad • On premise solutions • Epicor • IFS • Oracle • SAP • Microsoft Dynamics AX • SaaS solutions • SAP Business By Design • Microsoft Dynamics AX Budget between $150,000 and $400,000 for a 25 user system

  15. Payroll • Some accounting and ERP systems have an optional payroll module. Find out if you need to repurchase the accounting system in order to get updates or not before purchasing the payroll module. • Determine if you will need US and Canadian payroll functionality • Stand alone payroll systems can easily interface with accounting systems • Paymate • Canadian Payroll Systems • You can opt to use a payroll service instead of processing your payroll in house • Ceridian • ADP • Paymate

  16. Other Software Tools

  17. Best of Breed vs. Fully Integrated • Best of Breed • In most cases more in depth functionality that solves a specific need • You don’t need to change your whole system to get more functionality • Don’t give up the best accounting system in order to get the other functionality you need for your business • Interface needs to be created and maintained but is much easier these days if up to date technology and tools are utilized • Fully Integrated • One system and one database to maintain • One look and feel across the enterprise • In most cases functionality is lighter and non-specific to your industry or needs. Therefore some areas of your business must settle for less. • Can result in customizations to fill holes which are costly and hard to maintain

  18. Examples of Stand Alone Software • Warehouse Management • Yard or Container Management • Advanced Planning and Scheduling • CAD • Business Intelligence • CRM • GIS/GPS • Point of Sale • Asset/Maintenance Management • Service Management • Project Management • EDI • Payroll & Human Resources • Time & Attendance • Transportation Management • E-Commerce

  19. Selecting a System

  20. Step 1 - Define Your Needs • Ask yourself these questions: • What business problems do you need to solve? • What processes do you want to automate? • Where do you see the biggest labour savings? • What management information does the business require? • Where can you increase revenue? • What integration points will you require with existing systems and will they play well together? • What kind of savings and return on investment would you realize with a new system? • Where to go for help • Talk to your peers • Talk to your existing Accounting Software vendor and ask what systems already work with theirs • Look at hiring a selection consultant to help with the process

  21. Step 2 – Research Solutions • Use experts, talk to peers, research solutions on the web, and use on- line services such as www.findaccountingsoftware.com, www.softselect.com, or www.technologyevaluation.com • Attend on-line webinars, examine literature, and possibly send a request for information to vendors looking for budgetary numbers and to ask them if they have your needed functionality and how they would solve your specific issues • Check for configurability and use of current technologies • After researching establish a short list of 3 or 4 solutions that you will then examine in more detail

  22. Step 3 – Proof of Concept • Establish scripts or scenarios representative of how your business works and invite your short listed vendors to demonstrate their abilities to fulfill your needs • Ask for pricing and implementation proposals and review total cost of ownership for each • Review case studies of short listed vendors • Establish criteria and the weighting of each for which you and your team will evaluate the solutions • Determine selected vendor and arrange for customer references (on- site &/or via phone

  23. Step 4 - Negotiation • Ensure implementation/professional services pricing covers installation, data migration, interfaces, configuration, report writing, customizations, user training and go live assistance • Have contracts reviewed by your lawyer if applicable • Ask for suggestions on leasing opportunities • Know what your year after year costs will be

  24. Implementation

  25. Implementing Your New System • If it a larger project establish a war room/training room • Meet with key stakeholders to agree on processes to be implemented and to establish a timeline • Order & install any necessary hardware and the software • Train Administrator/Power Users • Set up data for testing • Conference room pilot – determine if any gaps and find solutions for any identified • Determine reporting needs and ensure all in place • Data migration (if applicable) • Set up opening balances and orders • Develop training materials for users • Train users • Go live

  26. What to Watch Out For!!! • Most systems these days are built utilizing best practices. Is your business really that unique that it doesn’t match these? Don’t customize a system unless absolutely necessary!! • Don’t fall into the “but we’ve always done it that way” mentality

  27. What to Watch Out For!!! • Most systems these days are built utilizing best practices. Is your business really that unique that it doesn’t match these? Don’t customize a system unless absolutely necessary!! • Don’t fall into the “but we’ve always done it that way” mentality

  28. Continuous improvement • Implementation doesn’t stop at go live. Management and other stakeholders should regularly meet to review the system and identify any other areas to be implemented, added, tweaked or trained upon.

  29. Thank You! Trudie Carlesso Imperative Solves www.imperativesolves.com tcarlesso@imperativesolves.com 519-984-4593

More Related