While reviewing and comparing financial management systems to each other, many of our clients started by comparing the OTC process in the various offerings. Our OTC video will cover: Order Management Credit Management Order Fulfillment Shipping and Transportation Invoicing Accounts Receivable Collection Reporting (Cash-Flow) Although we attempted to keep our video brief and to the…
Read MoreQuickBooks Payroll – IRS Account Requirements – EFTPS – Fraud Prevention
The IRS is changing their password requirements for EFTPS which will affect you if you file your federal taxes electronically through QuickBooks Desktop. On September 19, 2019, the IRS will implement a 13-month expiration policy for EFTPS for those using QuickBooks Desktop to make their federal payments. To avoid having to change the password at…
Read MoreDynamics 365 Business Central – How to use Payment Methods properly in AR and AP
This video will describe the proper configuration and setup of the Payment Method in Accounts Receivable and Accounts Payable. The Payment Method functions in Microsoft Dynamics 365 Business Central can be used to auto create a payment record in the AR or AP module based on a posted invoice. This video will discuss the details…
Read MoreDynamics 365 Business Central – Inventory Adjustments with Serial and Lot Numbers – Costing Issues
Dynamics 365 Business Central, formerly known as Dynamics NAV, has a number of inventory valuation methods it supports including FIFO, LIFO, Average, Standard and specific (Serial No only). The system will update and maintain proper cost buckets for each inventory journal entry based on the valuation method selected for the given item. Some of our…
Read MoreDynamics 365 Business Central – How to process Cash Discounts and Write-Off in Accounts Receivable
Microsoft uses different terminology when describing write-off in the context of Accounts Receivable. Dynamics 365 Business Central (formerly known as Dynamics NAV) calls a Write-Off something slightly less frequently used in the US, specifically a “Payment Tolerance”. The system allows you control over whether payment tolerances are allowed at all. You can also control whether payment…
Read MoreIntuit Point of Sale – Version 18, Release 10 Available now
Intuit is releasing an update for their Point of Sale software that addresses a few issues that have been reported by the user base. For assistance with your Point of Sale product, please call us at TEL. (855) 227-0700 To download the latest code, please access: https://downloads.quickbooks.com/app/qbdt/products?productName=QuickBooks%20Point%20of%20Sale&edition=Point%20of%20Sale%20Pro&version=18&country=us The issues that have been addressed by this…
Read MoreDynamics 365 Business Central – How to record Tariffs, Shipping Charges and other landed cost for Items
This brief video will cover the process of adding cost to the originating cost of an item. Microsoft Dynamics 365 Business Central allows for the ability to add costs such as Tariffs, Insurance, Shipping Charges, and brokerage fees to the unit cost of an item. The process involves a feature called item charges and you…
Read MoreMicrosoft Dynamics NAV Customizations versus Dynamics 365 Business Central Extensions – Development
With the release of Dynamics 365 Business Central in October of 2018, Microsoft introduced a new concept for programming and development called an EXTENSION. In prior versions of Microsoft Dynamics NAV, a programmer would modify the course code directly for tables, pages, reports and code units. This would provide the local programmer with great flexibility…
Read MoreYear-End Closing Procedures for Microsoft Dynamics 365 Business Central (formerly know as NAV 2016, 2017, 2018)
Microsoft Dynamics 365 Business Central (formerly know as Dynamics NAV) has a three steps Fiscal Year End closing procedure. Once the closing procedure has been completed, you may still record new GL transaction into the closed Fiscal Year, however, and Profit & Loss items will cause you to re-close the Fiscal year to retained earnings.…
Read MoreUpgrade from Dynamics NAV 2015, 2016, 2017, 2018 to Dynamics 365 Business Central – User License Issues and Development (Concurrent vs. Named Users)
When you sign up for a new Microsoft Dynamics 365 Business Central account today, the company only offers named user licenses (or subscription) just like they are being used by Office365 and Azure. This applies to both their Microsoft hosted and their Business Central OnPrem solution. Concurrent User Model – Prior to Business Central, you could…
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