Notes from the President

01 May 2025 khilton Notes from the President

Ken Hilton - President Red Wing Software

By now, most of us have completed and filed our 2024 federal and state(s) tax returns. We’ve spent a fair amount of time ensuring all the information from our accounting reports has been entered into the correct accounts throughout the year. Of course, if we’ve been doing the proper analysis during the year, we should be very comfortable with the data and mainly looking for anomalies.
Now that the first quarter of the year is complete, and all the information for completing the quarter should be entered into the accounting system, it would be a great time to review the results. With the budgeting process for 2025 completed a few months ago, it is important to stay on top of the actual results of the first quarter with what we projected.
While we try to project what we believe will happen throughout the year, more than ever, this year’s budget will need to be a living document with necessary changes to reflect the unexpected deviations happening within the business accurately.
If revenue and expenses are significantly different than expected at this point in the year, make sure the proper adjustments are made to the budget or within the business for the remainder of the year to keep things on track and profitable.

Notes from the President

07 April 2025 khilton Notes from the President

Ken Hilton - President Red Wing Software

I recently attended a trade show in Denver where I talked to several current Red Wing Software customers and about an equal number of attendees searching for an accounting solution for their business. I want to thank everyone who stopped by and took the time to talk to us. It’s always a pleasure to catch up with long-time customers who feel more like family members.
One of the recurring themes from people looking for new software was that their current solution provider was forcing them to a browser-based model that didn’t work as well as the desktop version of the software.
As you’ve heard from Red Wing Software several times, we value our customers’ input, which drives a lot of what we do in our products and as a company.
I must admit, I’m not a big fan of online surveys (don’t tell our marketing department I said that), but I’d like to get your opinion. Here is a link to a two-question survey about how you prefer to use your accounting software. This is totally anonymous. We won’t ask for any identifying information, and it will take less than a minute to complete.
As always, if you would like to give more information and/or have us contact you, there is a “Contact Us” link at the bottom of every page of our website, or unlike most companies, you can simply give us a call and talk to a live U.S.-based person that will be happy to help.
Thanks again to everyone who stopped by to see us in Denver and for taking this quick survey.

Notes from the President

06 March 2025 khilton Notes from the President

Ken Hilton - President Red Wing Software

At Red Wing Software, we know the importance of keeping payroll tax tables up-to-date. We make every effort to ensure you have the latest tax table information, often before it becomes effective. Federal withholding tables are available in CenterPoint Payroll for our customers when published by the IRS, even before they are needed. We also stay on top of the payroll tax changes in all states and territories, ensuring our customers use the most recent data.
While we keep the software updated, other things need to be considered when it comes to proper withholding. Keep in mind that some employees may request additional withholding be taken each pay period based on their experience with results from previous years. With the changes to the default tax tables, it may be important for them to recalculate the estimate of taxes they will owe for the year and rethink the amount of extra withholding they have deducted. It’s a good idea to inform employees of this situation and request that they complete a new W-4 form if they would like to adjust their number of dependents or extra state or federal withholding.

Notes from the President

06 February 2025 khilton Notes from the President

Ken Hilton - President Red Wing Software

Now that the hustle and bustle of the holidays is over, it’s a good time to dig out the budget you created for 2024 and compare line-by-line how well you managed the business as projected in your budget. (You did create a budget for 2024, didn’t you?)
I understand there are always anomalies during any given year that can’t be foreseen, but many mature ongoing businesses should be able to project the coming year accurately. When these unforeseen expenses (or revenues) occur, if you consistently compare actual events to the budget, you can adjust other areas to accommodate the changes.
With Red Wing Software’s accounting products, you have the tools to create and compare budget to actual information with a level of detail that works well for your business. CenterPoint Accounting has both simple and advanced budgeting features built into the product. Extensive help documents and video tools are available within the software to help you get started.
If you’re new to the process, give it a try. Over time, you’ll learn to project finances very accurately.

Notes from the President

09 January 2025 khilton Notes from the President

Ken Hilton - President Red Wing Software

Welcome to 2025! We all know what a new year brings: New Year’s resolutions. Since I’m certain many have not taken the time to think about what they plan to do differently in 2025, I will suggest a resolution that will work for everyone. Use your accounting software for one thing that you haven’t previously been using it for.
All too often, I hear someone say, “I really only use my software as a glorified checkbook,” or “I just keep records for my (fill in the blank).” Of course, my initial thought is – why? You go to all the effort of entering all transactions into the software, which is the hard part of recordkeeping, then don’t take advantage of all of the benefits you can get by looking at any of the hundreds of reports that are just a click away, which is the easy part.
So, whether you’re a power user or someone who isn’t taking advantage of the power of your software, I challenge you to add just one new analysis habit to your recordkeeping routine.
Have a happy and prosperous New Year.