Notes from the President

03 March 2021 khilton Notes from the President

Ken Hilton - President Red Wing Software

Unless you live in a bubble (which I am sure it has felt like the last few months), you know it has been cold in most of the country the last few days. It is interesting how all things are relative to some perceived standard. As I write this, it is thirty-nine degrees in MN and feels like summer. Last fall, when it was thirty-nine degrees, it felt like the middle of winter.
If you are in a seasonal business, the year’s busy times can feel like you are on an unstoppable roll, and the slow times of the year can feel like things are bad and can’t get any worse. That is when you need to step back and take a high-level look at the business and get the perspective on where the business truly is and when it will get better.
Doing some trend analysis over several years can give you a clearer picture of where you have been and the long-term direction of the company. You can accomplish this using the multi-year balance sheets, cash flows, and income statements available in your accounting software. Using the optional Ratio Analysis in CenterPoint® Accounting will give you a great visual trend of many financial indicators.
Whatever method you choose to get perspective on the business, it is important to make decisions based on all available information.

Behind the Scenes - January 2021

23 February 2021 rpalm Behind the Scenes
• Allison (Accounting Software Support Specialist) did a little fishing on the Mississippi River and caught six sauger fish.
• Julie’s (Implementation Consultant) son, Jackson, graduated from law school in December.
• Ashley’s (Accounting Software Support Specialist) daughter, Paytin, and dog, Bandit, had some snow-time adventures.

Notes from the President

02 February 2021 khilton Notes from the President

Ken Hilton - President Red Wing Software

I am certain you’ve heard more about viruses recently than you care to admit, but I want to remind you about a different type of virus.
Recently a long-time customer contacted us about an issue they had with ransomware. Ransomware is a malicious program that infects a computer when the user opens a file or clicks on a link in an email that comes from an unrecognized source or may have even been forwarded by someone you know. Ransomware typically prevents access to information on the machine until you pay a ransom to the individual that created the virus. The alternative to paying the ransom is to restore a backup from a time before the computer was infected.
I bring this up to point out the importance of regularly backing up your data and keeping your antivirus software and operating system up to date with current versions. As older versions of operating systems and software are phased out and not supported by the authors, updates that include code that attempts to prevent these attacks are no longer available. The cost of keeping your technology (hardware and software) up to date is far lower than the price of recovering from malicious activity. Another possible solution to protecting your accounting and payroll programs and data is to move them to the cloud. Hosted environments offer some added security and protection from viruses and malicious activity.
As you create your budget for the year (which should be complete for 2021 by now), in addition to the normal budgeted items, you should include a line item for keeping your technology current.

FREE Agriculture Online Courses

18 January 2021 roxie-thoner Agriculture
Red Wing Software has learned of some free online learning opportunities that may be of interest to our agriculture customers.
Developing your Agricultural Business Enterprise – FREE Online Class
Have you thought about expanding your agribusiness? If so, there’s a FREE class available to you, and it’s all online so anyone can take part! Red Wing Software’s very own Chad Glover (Sales) will be leading the session on Agricultural Financial Planning. Read the description below and feel free to join.
The Developing Your Agricultural Business Enterprise is an interactive program providing you, the entrepreneurs and agricultural producers with the knowledge and tools you need to analyze, assess, develop and grow your agribusiness venture. These workshops will help you discover potential opportunities in developing your agribusiness enterprise whether it be a value-added venture, agritourism, organic and sustainable agriculture or traditional commodity production. Click here to learn more and register for the class.
Legacy Planning for Farmers – FREE Online Class
This Legacy Planning for Farmers class is another free class available to all farmers, and is intended for farm owners, agricultural business owners, and small family business owners.
Why should you attend?
• Learn steps necessary to successfully transition your life’s work.
• Strengthen and secure your farm’s future.
• Help you reduce your risk of doing nothing (not having a plan).
• Learn about resources available to help you.
What will you learn?
• The importance of valuing your business.
• Planning for your farm’s future.
• Essential steps for farm/business transition planning.
• Protecting and planning for your future and possible retirement.
• Understanding the importance of succession or transition planning.
• Key elements of estate planning.
When: January 27th, 2021 from 10am CST to 1pm CST
To register for this free webinar go to Twin Cities SCORE https://twincities.score.org/resources/ws-brochure and select “Legacy Planning for Farmers”.

Online Classroom Training

11 January 2021 rpalm
Due to COVID-19, Red Wing Software converted our in-person CenterPoint Classroom Training to an online format. Online Classroom Training is the most comprehensive way to learn how to use CenterPoint and provides you with in-depth information and explanations from any location where you can access the internet (high-speed internet connection recommended). The sessions are presented live by one of our CenterPoint experts while you view the presenter's computer screen. You will have the opportunity to ask questions.
You can view and register for available sessions from our website, by selecting Menu > Classroom Training (under 'Services' on the top right-hand side of the menu), or by clicking one of the links below.
CenterPoint Payroll
This training is a two-part 8-hour live online session held on consecutive days for a total cost of $150.00 (4 hours/$75.00 for each part) and will be limited to 15 participants.
  February 9, 2021 and February 10, 2021
9:00 am – 1:00 pm CST
Cost: $150.00
CenterPoint Accounting for Agriculture
This training is a four-part 16-hour live online session held on two sets of consecutive days for a total cost of $300.00 (4 hours/$75.00 for each part) and will be limited to 15 participants.
  February 23, 2021 and February 24, 2021
9:00 am – 1:00 pm CST
Cost: $150.00
AND
March 2, 2021 and March 3, 2021
9:00 am – 1:00 pm CST
Cost: $150.00
CenterPoint Payroll
This training is a two-part 8-hour live online session held on consecutive days for a total cost of $150.00 (4 hours/$75.00 for each part) and will be limited to 15 participants.
  March 23, 2021 and March 24, 2021
9:00 am – 1:00 pm CST
Cost: $150.00
CenterPoint Accounting (Business)
This training is a four-part 16-hour live online session held on two sets of consecutive days for a total cost of $300.00 (4 hours/$75.00 for each part) and will be limited to 15 participants.
  April 13, 2021 – April 14, 2021
9:00 am – 1:00 pm CST
Cost: $150.00
AND
April 20, 2021 and April 21, 2021
9:00 am – 1:00 pm CST
Cost: $150.00