perfect accounting

Making Life Easier for Employees with Children

Making Life Easier for Employees with Children 750 x 450

Making Life Easier for Employees with Children

Working and parenting at the same time has never been an easy feat. With work demanding more time than ever and spilling over into home life via messaging and other electronic communications, it is sometimes difficult to separate work from life. To create a sustainable workplace culture and to attract the top tier employees, it is important for companies to beginning looking into how they can make life easier for employees with children.

Offering Paid Parental Leave

When babies are born, it is a very important time for the family to form bonds and figure out their new system. Offering paid parental leave is becoming standard among many large companies and can be invaluable for new families. While mothers generally need longer leaves of absence in order to get used to feeding and to recover from delivery, it is becoming standard to offer fathers a few weeks of paid parental leave, as well.

Scheduling with Flexibility

Parents often need a little more flexibility in their schedules than non-parents. Illnesses, school days off, and other obligations may crop up and get in the way of work. By scheduling flexibly, employers show employees that they care and they also help to ease workers’ minds so that they can be fully focused and committed while on the job.

Optimizing Scheduling

In addition to scheduling with flexibility when events pop up in parents’ lives, employers can work to anticipate certain scheduling conflicts in advance and take steps to mitigate issues. Children of school age will invariably have nights and weekends off, so it makes sense to schedule parents to be available for these times so that they do not have to waste their energy and time making arrangements. Working with parents to create an ideal schedule often works out in everyone’s best interests.

Consider Instituting Split Shifts

A growing trend among some companies is the split shift. Employees that work split shifts come in during the morning and work through the early afternoon, then pick children up and spend a few hours with the family eating dinner, assisting with school work, and putting the children to bed. After the children have gone to sleep, they log a few hours finishing up work so that their time is best prioritized among all of the important things in their lives.

Allowing Remote Work When Possible

If your company can allow remote work to some degree or another, it may be very helpful for the employees that are parents in your company at times. Allowing your employees to work remotely when their children are sick or when a snow day is called can help you to stay on track with deadlines, can prevent your employee from having to take a sick day, and can show that you care enough to work with them.

Assisting with Childcare

Depending on the structure of the workplace, some companies have found that it makes sense to offer assistance with childcare in one form or another. This may mean allowing employees to bring their children to work, if the workplace is not dangerous. This may also mean offering benefits to assist with the costs of child care.

Source : time.com

Contact Us : www.singaporeaccountingsoftware.com

 

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Quicken Home and Business – A Review

Quicken Home and Business – A Review 650 x 375

Quicken Home and Business – A Review

If you are looking for personal accounting software with a few small business features, Quicken Accounting fits the bill. Quicken offers basic business accounting tools for those who manage cottage industries. Most of the program focuses on personal accounting, though. Quicken offers investing tools, tax planning tools, and property and debt management tools, all ideal for personal finance. Even the reporting categories are suited to personal users: Where did I spend my money during this period? How much did I pay to account B? What am I worth today? and, Did I meet my budget?

Though friendly to personal users, Quicken Accounting received a low rank for features in our accounting review because this program lacks important small business section, such as Inventory, Payroll, Time Billing, and Jobs Management. However, the program does have Accounts Payable and Accounts Receivable sections, some cash flow options and a Balance Sheet. If you need a program for personal accounting with only a few small business extras, Quicken works.

Accounting & Business Functions

Quicken Home and Business is an easy program to set up, understand and use. The separate business feature contains most of the small business options, including Accounts Payable and Accounts Receivable—both easy to manage.

If you want manage payroll, however, you have to sign up for a separate service. This is an annoying extra step for those who want payroll features integrated into the accounting program.

Quicken Home and Business has intuitive navigation. The drop-down menu at the top of the screen has icons below to help you find the setup wizard and extra services. Quicken also offers tools to manage cash flow, investing, property and debt, planning, and taxes.

 

Implementation & Startup

The help documentation is excellent; it is complete with a search function so you can find the right subject quickly and easily. They also offer a How do I section at the top of each screen so your questions can be answered quickly and easily.

Help & Business Education

The Accounts Receivable section of Quicken isn’t as good as in some of the other software we reviewed. First of all, it’s hard to find. You must click on the Business drop down menu then find Invoices and Estimates. A small business should be able to reach Accounts Receivable in one click.

This software lets you to make and email invoices but you cannot track shipments or print labels. We found only one report related to accounts receivable

Contact Us : www.singaporeaccountingsoftware.com

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Small Business Accounting Software Everything You Need to Know

Small Business Accounting Software Everything You Need to Know 650 x 367

Small Business Accounting Software: Everything You Need to Know

1. Look in the proverbial mirror and make a list

Arguably the most important, if mundane, tip is list your small business’s accounting needs. Most owners have a general idea of what they want, but if you want to minimize cost then a specific list is key. Otherwise you end up paying for features you don’t need.

Not sure where to start? First, pick the low-hanging fruit.

Take all the functions you are already doing with Excel/graph paper/post-it notes and put them at the top of your list. Things like invoices, inventory, and income and expense tracking. Then ask yourself who accesses, or will need to access, this information. (Sales staff, the bookkeeper, the accountant?) Check off the number of seats your new accounting software will need to support. Now your list has its basic framework. And if you’re a very small business who just needs the “basic framework” then stop here. But if not, it’s time to determine what “advanced” features you’ll need out of your accounting software. Use these three questions as a guideline:

What functions will help save time on employee management? What functions will help save time on customer relations? What applications and processes will the accounting software need to integrate with?

Employee Management

Payroll, sick, personal and vacation day tracking are the most common employee management tasks a small business handles. Small businesses with significant head-counts should research dedicated human resources management tools and/or payroll processing services for these tasks, but for very small businesses

Base your decision on the value such time-saving will generate for your business. Could the time spent on employee management be instead used to generate more revenue? If so, tasks like payroll should go on your list.

Customer Relations

Customers will take note of your sales and delivery strategy, but they will remember forever how you present your bill. How you manage your accounting procedures says a lot about how you manage your customers.

Your new accounting software must maintain the goodwill you’ve worked so hard to build with your customers – and help you get paid faster too.

Evaluate each stage of your accounts receivable process, from purchase order to bank deposit, to see where software can clean up any inefficiencies. Cash flow is a top priority for a small business. You want accounting software to speed up payment, not slow it down.

Integration

Consider the applications you’re already using to run your business. How would new accounting software integrate with those applications?

Maybe you’re a retailer that needs its point-of-sale system to instantly give sales and inventory updates to accounting. Maybe you’re a direct sales organization that needs customer invoices to post directly into your CRM. (Or maybe you’re any business that just wants its old Excel files to load without wingdings infiltrating the spreadsheets Whatever you are, save yourself the pulled-hairs and check compatibility before you make a decision.

2. Consult with professionals

Sure, you ignored the warnings from your parents when you married your long-time sweetheart, but with a software marriage, you can’t afford to ignore those with experience.

If you have a bookkeeper, ask them for a recommendation. At the very least make sure your accounting staff is proficient with your software choice.

Get your IT staff involved too. If you’re going to keep accounting data storage and security in-house, your servers will have to be up to the task

The most obvious, and critical, consultation is with your accountant or CPA firm. They are not only experienced with many of the platforms you’re looking into, they are also deeply familiar with your business. Ultimately you’ll want a program your accountant is comfortable using. Why make the professional who’s trying to keep you out of IRS hell miserable? Make sure they endorse your choice. If this isn’t an aphorism, it should be: if you’re accountant isn’t happy, you’re not happy.

A side-note: you may want to give your accountant year-round access to your software so they can head off any tax-angina. If so, online or cloud-ready capabilities are something you’ll want to put on your software wish list.

3. Demo, demo, and demo again

You have your list and your professional recommendations. Now you need to get your feet wet – but in the shallow end of the pool. It’s time to demo products.

Most products on the market offer free trials, and a couple of hours spent clicking around is incredibly useful. Use this time to check how intuitive the interface is, how well it jives with your work habits and task flow. Remember, you’re getting married. You don’t just want fancy features, you want to be able to talk to it on an average Thursday afternoon too. Don’t dismiss a curated demo. Yes, you’ll probably have to listen to a sales rep point out features as breathlessly as a kindergartner with a new macaroni necklace. Put up with it so you can ask questions about everything on your list.

Support is often overlooked when choosing software, but as a small business you’re more likely than most to need it. Ask if the vendor offers product training. Ask about the hours and breadth of their tech support. And don’t forget to ask how much all that support costs.

If your small business has limited, or even non-existent IT, ask the vendor how your data is backed up and how they keep it safe. And how easy it is to recover all your files if your systems are damaged by an act of God (or man – or office cat.)

Most importantly, inquire about the product’s scalability. Do you really want to go through this matching process again when you grow from small to medium to (fingers crossed) enterprise? Good software should grow with you.

4. Don’t overbuy

This one’s quick and dirty: remember all that time you spent on your list? Honor that effort and stick to your guns. Suspect anything that sparkles. The program that does what’s on your list is the best program. As a small business, cost is key – you only want to pay for what you’re going to use today. If the program is scalable (and it should be) then its bells and whistles will be there for you when you’re ready.

Age-less pro-tip: Garbage In, Garbage Out

You did it. You made your list, you asked your accountant, you hounded a few sales reps and you didn’t overbuy. Congratulations again. This time on your software marriage. Want to stay out of divorce court? Develop good data-entry habits. Your new accounting software, for all its power, won’t fix sloppy data-entry. Neither time nor money will be saved when you need a secret decoder ring to figure out your chart of accounts.

Source : techradar

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Revenue Recognition Software

Revenue Recognition Software

Revenue Recognition Software Helps Tech Vendors Meet Accounting Rules

Software Vendors that are gradually shifting from on-premises to Cloud Deployment

Today, in the decade of cloud computing, it is significantly different. You have a subscription model and customers might move up and down in the subscription. You have an unpredictable fluctuation of your subscriptions and therefore of your business.

Revenue recognition issues also affect more traditional industries that have fluctuating revenues, such as utilities, especially private ones that provide energy from renewable sources, like solar and wind, and aren’t price-regulated monopolies. Given FASB’s stated intention to unify industry-specific rules into a single revenue recognition standard, and to merge that with the standards its global counterpart, the International Accounting Standards Board (IASB), promotes, most companies will soon fall under its purview, say software vendors and users familiar with the process.

While compliance issues are driving initial demand for revenue recognition software, companies can get additional benefits in the areas of financial planning and forecasting. Software vendors that are gradually shifting from on-premises to cloud deployment are a prime example. “They know that if they shift over 10% of their customers into cloud subscriptions, they have a dip in the balance sheet, because the revenue gets shifted into a deferred model”.Without the more nuanced view that revenue recognition software allows, financial analysts might believe something is wrong and undervalue future opportunities to increase market share, for example. Good revenue recognition software can therefore be a change-management tool to transform traditional independent software vendors (ISVs) from the perpetual license business to the cloud business.

Revenue recognition software could also boost companies’ profitability, according to reports published around the time of the FASB changes. Generally Accepted Accounting Principles guidelines overseen by FASB, companies had to estimate a fair value for each element — evidence of which could be hard to find. They would often wait for all the pieces to be delivered before counting any revenue on their books. Under the new rules that Apple and 33 other respondents argued for, companies can allocate the revenue based on certain percentages. In many cases, that means being able to report and use revenue much earlier than before.

Source : www.searchfinancialapplications.techtarget.com

For free demo please visit www.singaporeaccountingsoftware.com

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FEATURES OF PAYROLL SERVICES

FEATURES OF PAYROLL SERVICES

Features of Payroll Services

Payroll software vs. online payroll services. With payroll software, you are responsible for installing software updates and tax table updates, and backing up your own data. Although online payroll services have the highest level of security, you might feel more comfortable having your payroll information stored on your own computer system rather than being available online. The software used in online payroll services is continually updated for your payroll system, as are the tax tables used to process payroll. Online payroll services allow you to access your payroll system via the Internet from a computer, tablet, or Smartphone. If that’s the kind of convenience you want, you’ll be pleased with the variety of vendors offering cost-effective, secure payroll processing in your area.

Size: how big is your payroll? If you only have one employee, you can easily calculate your own payroll deductions using free spreadsheet accounting software. But if you have two or more employees, processing payroll starts to get complex. If you have employees in more than one state or country, processing payroll can quickly turn into a nightmare. If you have between 2 and 50 employees, online payroll services can save you time and money. Companies with more than 50 employees face very different regulations in terms of mandatory benefits and electronic tax filing. Most online payroll services can accommodate these needs, although prices may be higher for managing mandatory payroll benefits.

Which optional payroll services do you want? All online payroll services should be able to cover basic paycheck calculations, including direct deposit of employee paychecks, electronic payroll tax filing, and electronic payroll tax payments-all for a nominal monthly fee. Most services charge a flat rate for that package, plus an extra amount per month, per employee. You might also be charged extra for more than one user who can access the system. Other fees are charged based on the optional extras in the payroll package. For example, employers may choose to add benefits management, 401K management, health insurance management, or other enhancements to the basic payroll processing service. Many employers require time and attendance tracking systems that allow employees to log in, or to log time to specific accounts or tasks. Time tracking is usually an optional add-on and is available from most payroll services vendors

Source : www.business.com

For free demo please visit www.singaporeaccountingsoftware.com

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