All successful companies outgrow their accounting and ERP systems. Upgrading at the right time will ensure that the company has the right system and that it gets that system at the right price. Knowing the reasons for a new system helps define the goals and objectives that are essential to a successful implementation. The first step is to identify the…
Edward Thomas Associates is happy to offer the eBook ‘Preparing Audit-Ready Financials: Best Practices to Avoid Common Pitfalls’. The eBooks covers an approach to well-documented transactions and balances; GAAP-compliant revenue accounting; the realizable value of receivables; handling the complexity of consolidation for multiple entities; and more. Here’s a snippet from the eBook: For public companies, [audits are] a statutory requirement…
If you began your business as a solopreneur or a small start-up, chances are bookkeeping was something you did in addition to your more pressing duty of running the business. Savvy executives and owners don’t want that kind of distraction and quickly embraced outsourcing to address accounting and other functions. Any departmental function that was outside the core competencies of…
Why do we keep mentioning the AICPA – Edward Thomas Associates uses Sage Intacct financial accounting solution on behalf of many of our clients. We do so, because those who know the most about accounting, including the AICPA, prefer Sage Intacct. But if you’re not life-long accountants, you may have no idea what the AICPA is or what it does.…
Before choosing a system, the company needs to make sure that it has the right people on board, including an experienced project manager. This person can make the selection process more effective, not to mention easier. The project manager should have previous experience selecting and implementing systems. But almost as important is that he or she should not be an…
The first step is to identify the reasons driving the desire to get a new ERP system. Some good reasons include: Reliance on a small group of people operating the system Dependence on Excel spreadsheets Support from the vendor or reseller is ending (or has ended) Poor performance (lag times) Multi-national organization (all companies on same systems) Specialized changes in…