setting up systems to manage your business

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

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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. - PowerPoint PPT Presentation

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Page 1: Setting up Systems to Manage Your Business

Setting up Systems to Manage Your Business

Presented By: Trudie Carlesso

Page 2: Setting up Systems to Manage Your Business

Agenda

• First Things First

• Record Retention

• Accounting Systems

• Other Software Tools

• Selecting a System

• Implementing Systems

Page 3: Setting up Systems to Manage Your Business

First Things First

Page 4: Setting up Systems to Manage Your Business

First Things First

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

Page 5: Setting up Systems to Manage Your Business

Definitions

•Software as a Service (SaaS)

•Client Server

•ERP (Enterprise Resource Planning)

•Integrated

•Interfaced

•Customization

•Software Maintenance and Support

Page 6: Setting up Systems to Manage Your Business

Record Retention

Page 7: Setting up Systems to Manage Your Business

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.”

Page 8: Setting up Systems to Manage Your Business

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.

Page 9: Setting up Systems to Manage Your Business

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.

Page 10: Setting up Systems to Manage Your Business

Accounting Systems

Page 11: Setting up Systems to Manage Your Business

Manual Systems

•Paper or Spreadsheet based

•Labour intensive •No investment

•Lack of Management Reporting

•Accountants and Government prefer this less

Page 12: Setting up Systems to Manage Your Business

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

Page 13: Setting up Systems to Manage Your Business

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 SolutionsBudget anywhere between $10,000 and $50,000 for a 5 user system

Page 14: Setting up Systems to Manage Your Business

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

Page 15: Setting up Systems to Manage Your Business

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

Page 16: Setting up Systems to Manage Your Business

Other Software Tools

Page 17: Setting up Systems to Manage Your Business

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

Page 18: Setting up Systems to Manage Your Business

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

Page 19: Setting up Systems to Manage Your Business

Selecting a System

Page 20: Setting up Systems to Manage Your Business

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

Page 21: Setting up Systems to Manage Your Business

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

Page 22: Setting up Systems to Manage Your Business

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

Page 23: Setting up Systems to Manage Your Business

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

Page 24: Setting up Systems to Manage Your Business

Implementation

Page 25: Setting up Systems to Manage Your Business

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

Page 26: Setting up Systems to Manage Your Business

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

Page 27: Setting up Systems to Manage Your Business

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

Page 28: Setting up Systems to Manage Your Business

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.

Page 29: Setting up Systems to Manage Your Business

Thank You!

Trudie CarlessoImperative Solves

[email protected]

519-984-4593