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

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Presentation on theme: "Setting up Systems to Manage Your Business Presented By: Trudie Carlesso."— 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 1.To incorporate or to not incorporate, that is the question 2.Find an Accountant and a Lawyer 3.Business Number 4.Sales Taxes 5.Licenses 6.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 dont need to change your whole system to get more functionality Dont 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 or 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 doesnt match these? Dont customize a system unless absolutely necessary!! Dont fall into the but weve 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 doesnt match these? Dont customize a system unless absolutely necessary!! Dont fall into the but weve always done it that way mentality

28 Continuous improvement Implementation doesnt 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


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