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Still time to register for the
Customer Conference in Las Vegas
It’s not too late to
register for
this year’s annual OSAS and TRAVERSE Customer
Excellence Conference being held September
22-23.
The agenda will include two days of breakout
sessions with several classes to choose from for
each session. The venue is South Point Casino
in Las Vegas.
Click here for the
class schedule.
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OSI Releases Payroll & Project
Costing in TRAVERSE 11
Announced July 30, 2010 OSI has released Payroll
and Project Costing for TRAVERSE Version 11.
The changes to the database for both of these
applications are more significant than in the
previously released version 11 applications.
Once we install and upgrade in-house we will be
ready to begin installations for our clients.
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Sales Rep Commissions
Keeping up with commissions can be an arduous
task if you are not using the built in
commissions function found in Accounts
Receivable. Commissions can be set up to
calculate based upon ‘booked sales’ meaning at
the time the sale is posted, or when the
customer has ‘paid’ the invoice. Commissions
can also be set up to calculate a percentage of
the entire invoice, or calculate a percentage of
the gross profit of the invoice. You also have
the ability to set up the Sales Rep to get
commissions on line items from an invoice. Two
Sales Reps can also ‘share’ in the commissions
for a particular invoice. Need assistance in
setting up commissions? Just give us a call.
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Inventory
When you hear the word ‘Inventory’, what do you
think of?
Most of us think of a retail store or a
manufacturer as the type of company that uses
the Inventory application. However, many other
types of organizations have supplies, products
or services they need to monitor that is well
suited to the Inventory application. Think
about the numerous items that a hotel must have
on hand to properly satisfy their guests, or a
school bookstore, or a catering company, or even
a repair service that relies on parts to respond
to customer requests.
Using the Inventory application you can:
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Know quickly the quantity of items on
hand and their cost
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Know how much the inventory on hand is
worth
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Quickly know exactly where the items are
located
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Use the Inventory Movement Report to
identify your best products and understand their
purchase/sales cycle
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Spot seasonal demand patterns
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Run Sales and Purchase History reports to
identify customers and vendor whom you sell to
and purchase from for any period of time.
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Did You Take Advantage of the
HIRE Act in Second Quarter?
If you hired any employees since February 3,
2010 who have not worked in the 60 days before
you hired them you, as the employer do not have
to pay the 6.2% Employer match for Social
Security from March 19, 2010 until December 31,
2010.
This can be a substantial savings for you as the
employer. An employee making $50,000 during this
period of time would save the employer $3,100.00
($50,000 X .062). Your only responsibility as
the employer is to have the employee fill out a
W-11 form which can be found at
www.irs.gov
and at year end report these amounts in Box 12
of the W2 with a code of CC. If your software
is current on CES you are entitled to this
update to your software that will incorporate
these changes to the employee file as well as
the 941 report. If you were unaware of this
‘incentive’ to employers when you filed your 941
for second quarter you can go back and file an
amended 941 for second quarter as well as first
quarter if the employee had wages in the first
quarter also.
If your software is not current on CES you may
want to think about getting current so that your
software can automatically calculate and keep up
with these employer savings. Also at year end
there will be changes to the W2 reporting that
will require updates before you can process W2’s
for 2010. Getting your software back current
on CES also entitles you to TRAVERSE version 11,
or OSAS version 7.6. Both the TRAVERSE and the
OSAS new versions contain many new features that
can also assist with data collection and
reporting.
If you need assistance with either getting your
software current, applying the 941 update, or
filing an amended 941 for quarter one or quarter
two, just give us a call and we can assist you
in recouping the overpayment that you may have
made.
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TRAVERSE
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TRAVERSE
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General Ledger Activity
Report Why
It Is So Useful
The General Ledger Activity Report is found in
Transaction Journals. This report can be printed
for one period, a range of periods, or all
periods in the year; for one general ledger
account, a range of general ledger accounts or
all general ledger accounts.
Filtering can also be done by selecting only
specific Source Codes. Source Codes indicate
from which application the postings have
occurred. (AR AP PA BR IN M1 R1 RE, etc). This
ability to run by source code for particular
accounts such as Accounts Receivable, Accounts
Payable, Inventory, Work in Progress, Cash, etc
can assist you in finding any discrepancy
between the Subsidiary Ledger and the General
Ledger Account Balance. (If you spot an M1 entry
in your Cash or Accounts Receivable or Payable
that would indicate why these accounts don't
match the Subsidiary Ledger).
The ability to print by Transaction Date or
Posting Date can also assist when analyzing your
data. Transaction Date is the actual date that
you would have entered for an invoice or some
other transaction. The Posting Date indicates
the date that you posted the transaction not the
dates you entered. For example on August 4 you
could be finishing up some payables with
invoices dated July 30. When posted these
transactions will have a ’Transaction Date’ of
July 30, but a ‘Posted Date’ of August 4.
The Activity Report will print the beginning
balance for the period that you selected and
will print every transaction that has been
posted to those accounts, whether or not they
have been posted to the master. This enables you
to see what specific account balances will be
before posting to the master.
If an account balance has been edited and the
sum of the entries plus the beginning balance
for a particular period do not add up to the
ending period balance the report will print the
amount for these ‘missing entries’ and label
them as such enabling you to research what
happened to throw this account off.
At year end for auditing purposes this report
will give your auditor a complete look at all
transactions for all accounts for the whole
year. With posting in detail you see every
Accounts Receivable invoice and cash receipt
within the Cash and Accounts Receivable
accounts. Also each sales account will display
the individual invoices. For Accounts Payable
lump sums from Purchase Journal and Payments
Posts will post to the Cash and Accounts Payable
accounts, but all invoices will be individually
seen within the expense or other debit accounts.
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TRAVERSE
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TRAVERSE |
Bank Rec Recurring
Entries
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 you can set up a
‘Recurring Adjustment’ for each of these.
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
the Adjustments tab the Payment Numbers that you
assign to these adjustments will be available in
the drop down inquiry box. Simply select the
recurring adjustment by payment number and your
entire entry is brought in. You can then adjust
or change any part of the entry before posting
the transactions.
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