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Can Intacct be Integrated with Other Applications We Depend On?

Blog Team — Sat, 22 Sep 2012 13:11:47 +0000

Integration is an important part of the work we do for our cusotmers.

Executives and department managers want a comprehensive view of what is going on in the business and within their departments in order to maximize opportunities and quickly address problem ares that threaten to erode profitability.

Integrating Customer Relationship Management (CRM) systems, Sales Force Automation (SFA) systems, and Professional Services Automation (PSA) and your financial accounting system, gives you the optimal view of your business, eliminates silos of information, and significantly reduces duplicate data entry – leaving more time to analyze data.

Because Intacct uses open web services, it can be integrated with a broad set of applications. So instead of compromising on a suite of applications from a single vendor, cloud computing makes it cost-efficient and relatively easy to integrate the applications that best suit the needs of each of your departments.

Integration is an important part of the work Massey Consulting does for our customers.

Why Work with Massey Consulting?

Blog Team — Fri, 21 Sep 2012 13:07:20 +0000

Complex and evolving revenue recognition guidelines, subscription billing, renewals management – we can help.

Massey Consulting specializes in accounting software. Most of our customers are located in the United States and right here in Raleigh, North Carolina. However, we serve businesses internationally – as far south as Australia and as far north as Canada.

When it comes to serving software companies, we understand the issues your finance team deals with every day – complex and evolving revenue recognition guidelines, subscription billing, renewals management – just to name a few.

Accounting software is the strength and specialty of Massey Consulting. Our consultants boast a wealth of practical field experience gained as controllers, accountants and information systems professionals in a wide range of business environments. We are certified, recognized experts in each of the software solutions we offer.

Your Success – Put the Power of Cloud Computing to Work for You

Blog Team — Thu, 26 Jul 2012 19:12:31 +0000

Have you been curious as to what benefits cloud computing might offer your organization?
Are you looking for a budget-friendly way to move to a more powerful financial accounting solution?
Have you reached a point where you can no longer limp along with QuickBooks?
Would you like a more comprehensive view of your business that makes it easy to capitalize on success and quickly address problem areas of the business?
Are you a software company looking for a more effective way to manage renewals and revenue recognition?

If you’ve answered “yes” to any of these questions – you’re not alone. Many organizations are looking to cloud computing to provide a more powerful and efficient back office engine to critical business processes.

During the month of August there is a full schedule of webinars designed to give you an introduction on how Intacct can assist you in running a more profitable business.

Intacct Product Tour for Organizations Growing Beyond QuickBooks

August 7, 2012 at 10:00 AM PT, 1:00 PM ET – Click here to register

August 21, 2012 at 10:00 AM PT, 1:00 PM ET – Click here to register

Intacct Product Tour for Professional Services

August 2, 2012 at 10:00 AM PT, 1:00 PM ET – Click here to register

August 14, 2012 at 10:00 AM PT, 1:00 PM ET – Click here to register

Intacct Product Tour for Software Companies

August 7, 2012 at 11:00 AM PT, 2:00 PM ET – Click here to register

August 21, 2012 at 11:00 AM PT, 2:00 PM ET – Click here to register

Intacct Product Tour for Nonprofits

August 2, 2012 at 11:00 AM PT, 2:00 PM ET – Click here to register

August 16, 2012 at 10:00 AM PT, 1:00 PM ET – Click here to register

Intacct Product Tour

August 8, 2012 at 10:00 AM PT, 1:00 PM ET – Click here to register

August 15, 2012 at 10:00 AM PT, 1:00 PM ET – Click here to register

Let us know if we can answer other questions you may have by calling us at 1-919-875-9635 or email us at info@masseyconsulting.net – we are happy to help.

Professional Service Tools Now FREE

Philip Massey — Sat, 12 May 2012 15:18:16 +0000

Attention Dynamics GP Users: Did you know the Professional Services Tools Library (PSTL) is now available at no charge? Previously, this functionality cost up to $5,000!

The PSTL contains specific tools that can help you update and change data efficiently, without compromising the accuracy and integrity of your information. It includes finance, purchase, sales, payroll, inventory and system tools to help you modify, change or combine account information with fewer manual processes.

Contact Massey Consulting to find out how you can take advantage of the PSTL. If you have recently installed the latest version of Dynamics GP, it should be ready and available for your use with no separate registration key required. For previous versions of Dynamics GP, please contact us for assistance with installation.

Take Customer Phone Calls With More Confidence

Philip Massey — Sat, 12 May 2012 14:10:44 +0000

That’s right. Take calls from your customers with more confidence!

Wait, though. How can an simple integration tool allow you to take calls from your customers with more confidence?

Well, imagine you are an accounts receivable clerk and you get phone calls all day from your customers regarding the bills that were sent to them. They want to know what has been paid and what has not been paid. They lost copies of their invoice. They got a statement and it shows invoices on it that they “never received”.

Your typical solution, as a ConnectWise organization, would be to research what was paid in your accounting system (hopefully Dynamics GP or Intacct!!) and then switch to ConnectWise to print copies of invoices that were not paid so you can send to the customer.

Now, imagine that you are using ConnectWise, Dynamics GP and DynamicsConnect and you get those same calls. As an Accounts Receivable Clerk in a CONNECTED organization, you would be able to work solely in Dynamics GP to determine what has been paid and what has not and send – from Dynamics GP – copies of invoices so that you can get paid quickly.

Our DynamicsConnect product integrates FULL invoice detail to Dynamics GP, which allows you the option of printing invoices from within Dynamics GP. This can, among other things, free your accounting staff to work in a solution that they understand and normally work in all day. They do not have to jump back and forth between systems and take up user licenses in the ConnectWise solution just to print invoices.

For more information on DynamicsConnect, please visit our product specific site at www.dynamicsconnect.com.

Contact our office to learn now you can fully integrate ConnectWise and Dynamics GP!

Intacct Revenue Management – Compliance

Philip Massey — Fri, 11 May 2012 11:45:14 +0000

If your company is considering attracting new capital or eventually going public, you are already aware of how important it is that your finance team keep your books compliant with GAAP standards – standards and regulations such as those mandated by the SEC, FASB and Sarbanes-Oxley. Even if you’re not looking for new investors, compliance can help your enterprise by establishing comprehensive internal standards and controls over revenue processes and a clear, auditable financial record. Intacct Revenue Management offers your company a superior way to assure compliance with standards

For instance, Intacct Revenue Management can be used to streamline compliance with the FASB’s notoriously complex Vendor Specific Object Evidence (VSOE) guidelines for software companies and the similar (and only slightly less onerous) guidance for non-software companies – “EITF 00-21 – Revenue Arrangements with Multiple Deliverables.” Both rules describe how companies that sell bundles of disparate products determine fair market value and calculate revenue recognition.

Let’s take software companies and VSOE as an example. Many software companies today earn from selling bundles that may include maintenance and support, training, a bundle of software and hardware, a software subscription – or any combination of these. VSOE specifies how the fair value of each of the various components included in a contract is calculated and when different portions of the revenue can be recognized. When not following VSOE, revenue cannot be recognized until the entire contract has been delivered (including services and support), effectively delaying recognition for months or years.

Intacct streamlines instituting complicated VSOE calculations to begin with and automates their application to future contracts. And because it stores the original and detailed calculations and justifications at the line item level when they are made, supporting those decisions to reviewers or auditors is also dramatically simplified.

No matter what business you’re in, the thicket of regulations, guidelines, and standards of accounting practice are growing more complex. Intacct Revenue Management can help you and your finance team find the easiest, most efficient way to remain in compliance.

What Size Is The Right Size Company For Intacct?

Philip Massey — Tue, 08 May 2012 18:07:14 +0000

Is a business like yours a good candidate for a Cloud-based accounting solution such as Intacct? If you have fewer than 20 employees and a straightforward set of accounting needs, maybe not. Quickbooks and other entry-level accounting packages may be capable of efficiently handling your needs. But if you have more than 20 employees or a more complex set of business and accounting needs, you stand to reap real benefits from Intacct’s deeper functionality, improved automation, more robust security, tighter internal controls, and greater visibility.

Because Cloud solutions are, by nature, massively scalable, it doesn’t really matter if your company is small or larger – or how quickly it may be growing. While you only pay for the service you need, you can add seats on demand. This makes a Cloud-based accounting solution such as Intacct a good fit for smaller enterprises’ needs and ideally suited to efficiently grow with you to hundreds of employees – or even a thousand employees or more – and even as you add multiple locations or operating entities. In fact, because Intacct resides in the Cloud, it radically simplifies managing multiple locations, accounting methods, geographies, currencies, and entities by running everything on one secure, auditable, compliant, and centralized system.

Scaling your Cloud solution is just one way in which it can be customized to meet your business’s needs. With experts like Massey Consulting, Intacct can be tailored to effortlessly mesh with your company’s workflow and demands and to seamlessly integrate with your other applications and systems.

Forecasting With Intacct

Philip Massey — Mon, 07 May 2012 16:30:14 +0000

Chances are, your company’s forecasts could be far more accurate and valuable than the ones you rely on today. Companies that depend on standard spreadsheet-based solutions often have to work long and hard to generate even general forecasts based on incomplete data. A major technology research company reports that about 66% of companies make forecasts that don’t even account for deferred revenue and upcoming renewal business. And without access to robust, complete, up-to-date data, you produce a forecast that can not only damage your ability to reliably predict revenue flow, but also lose the ability to react swiftly to changes that affect your business.

Intacct Revenue Management does more than automate and streamline ways to cope with compliance and operations. Intacct allows you to quickly access real-time data through dashboards and easy-to-generate reports. Intacct presents you with a full and accurate account of current and future revenues, projected renewals and total deferred revenue today and in the coming weeks, months, or even years. You can review current and forecast revenue graphically, and then drill down into the data that feeds that graphic – from summary and trend reports to transaction details. This provides you with a better understanding of how decisions you make today will impact your business in the future. With that insight into your operation and finances, you can analyze what changes to your costs, prices, products, contracts, or other factors will have immediately and over time. And with this kind of enhanced ability to forecast, you can more nimbly and effectively respond to emerging conditions, changes, challenges, and opportunities.

Massey Consulting & Intacct: Offering Fewer Headaches and a Lower Cost

Philip Massey — Mon, 30 Apr 2012 03:55:11 +0000

Cloud-based applications such as Intacct offer many concrete benefits that traditional on-premise solutions just can’t match. And with Massey Consulting, Intacct, and the Cloud, you stand to enjoy these benefits while simultaneously saving your company significant amounts of money. When you choose a Cloud-based application such as Intacct, you dramatically reduce – and can, in some cases – virtually eliminate many IT infrastructure costs.

With Intacct, you no longer have to take on the IT headaches and infrastructure expenses that you need to worry about with traditional application configurations. Not only do you eliminate the need to buy and operate servers, you can also reduce operational costs in your IT department. Suddenly, you no longer have to pay for the resources to maintain servers, conduct and secure backups, update and patch software, maintain databases, plan and execute migrations or new installations – not to mention enjoying savings associated with the cooling, securing, and rent for the actual physical space for your servers.

Instead of having to pay for and hassle with all of that yourself, Intacct takes care of it – and gives you a guarantee they’ll do it right. And because Intacct is serving a comparatively massive user base, they can leverage the costs across their thousands of customers creating powerful economies of scale that lower what you actually have to pay to enjoy guaranteed, top-tier service.

Does gaining cost savings mean sacrificing functionality? Not at all. Intacct is the endorsed solution of the AICPA, GAAP compliant and designed to meet the financial accounting needs of your company.

More powerful accounting; less internal resources required and lower costs; as well as anytime, anywhere access – cloud-based accounting is certainly worth a closer look.

Intacct Dimensions – Cost Centers, Projects And More

Philip Massey — Mon, 09 Apr 2012 00:03:43 +0000

We talked in the last blog post about what dimensions are. Now let’s talk about how they can save you LOTS of time!

Just to recap from our last blog, dimensions in Intacct are ways to classify accounting transactions that are independent of the chart of accounts. In other words, one could use a dimension to track departments, divisions, product lines, projects, employees, contracts, grants and much more. This is a great feature in Intacct because it allows a company to have a SMALL chart of accounts and use multiple INDEPENDENT dimensions to tag the transactions for later reporting purposes.

Now, let’s talk about how dimensions can make your company perform better without a lot of extra effort!

Suppose, for example, that you are a software development company about to launch the version 5 of your calendar management application, Calendar. In a typical accounting system, you would be able to create, perhaps, a project for Calendar version 5 and charge development time and expenses to the product. You might even be able to post payables invoices against the project for Calendar 5. You may not, however, be able to post all sales, all general ledger adjustments, all revenue entries and more to the project.

With Intacct, however, our software company would be able to setup dimensions to track the Calendar application. For example, a “Product” dimension could be established to track the Calendar v5 application – along with all the other products they produce. Once the dimension is created, it is immediately available for any and all of the transactions in Intacct – General Ledger, Receivables, Payables, Time Entry, Revenue Management, Fixed Assets and more.

The end result then is a software company with a simplified general ledger chart of accounts – typically just one segment as outlined in the previous blog post – and a number of dimensions for transaction coding purposes. Intacct then gives you the power to report financial statements, trial balances, receivables and much more by the product dimension. You no longer have to worry about how profitable the new Calendar v5 product is; you simply pull up a report and see the real-time data for yourself.

Dimensions can do many things for any organization running Intacct. They allow a company to have a very simple chart of accounts, while maintaining the ability to report and analyze data on multiple different levels and criteria. Dimensions have the ability to simplify your accounting and make you more efficient, while magnifying your reporting.