Remember how excited you were to start your job? The anticipation, the nervousness, maybe even downright terrified for that first day. You worked hard to be a team player, built relationships with your co-workers, and gave 150% to show everyone you have what it takes to get the job done. Flash forward a couple of years, how’s that motivation now? I bet many would say comfortable, maybe even in auto pilot mode, and the enthusiasm that you had that first day has waned a bit. I think at one point or another, we have all felt that way. How can you get your mojo back? Two words; continuing education. Don’t roll your eyes and start thinking how am I going to go back to school when I have little extra time or money. I am talking about venturing out and attending a conference in your field. There’s nothing like spending a few days networking with people, learning new ideas and rejuvenating your mind and spirit. And the best part, most employers will pay for it. One of the things I appreciate the most about my boss, is he truly believes in the value of continuing education. In fact, it is part of our job description; we are encouraged to have 40 hours of continuing education each year. We receive credit for books read in our field, trade shows and online Webinars we attend, and of course outside conferences or workshops.

I just returned from a content marketing conference in Cleveland that included over 600 professional marketers from all over the world. The networking opportunities were amazing and I attended break-out sessions lead by industry leading experts and authors, whose books by the way, I have read and are on my Kindle. The best part of the conference? The friends I have made and the new information I learned, left me motivated and excited to come back and work harder at my job. You might say I found my mojo!

When it comes to business, playing games is not a good strategy. However, there is something to be learned from those board games we have played over the years. Use these game strategies when you are searching for the right accounting software vendor for your business.

Pictionary

Don’t get out your paper and pencil just yet. Play Pictionary with accounting software vendors by having them show you instead of tell you. It’s easy for somebody to simply say, “Yes, our software can handle that.” Ask the vendor to show you in a demonstration how the system can actually handle the function, for instance, if you need recurring invoicing, have the vendor show you how their system handles that. By seeing it, you can be assured it works how you want it to.

Trivial Pursuit

Thankfully, you can do this without brightly colored pie shaped pieces. Play trivial pursuit with vendors by making sure you find out about even the most trivial of needs. If the shipping department really needs a piece of information on the packing list, ask about it! Just imagine the time you can save over a matter of years by ensuring your system can handle a wide number of processes or functions that may seem trivial. On the other hand, purchasing a system that cannot handle those things can cost your business big in time and money. Clarify on paper your most trivial of needs, so you can be sure that the new system you choose has something to handle them.

Chutes and Ladders

Do you remember this game from childhood, and how frustrating it was to be a space or two away from winning and then fall down a big slide or ‘chute’? In real life, nobody wants to climb a huge ladder and unexpectedly or mistakenly go down a monstrous slide. In much the same way, you should have a team of support experts standing behind their software and able to help when you need it. When you are trying to reach accounting software support, being transferred from person to person or infinitely on hold is nearly as bad as falling down a giant slide!

Monopoly

Hey, just because an accounting software vendor is well-known, doesn’t mean they have the monopoly on the market. There are many accounting software vendors and one of them is right for your business, you just have to do your research to find out which one is right for you!

All this game playing is really just another way of saying, be sure to put accounting software vendors to the test before purchasing a new system for your business. Since you will work with this vendor for many years, these are details you want to work hard to get right.

Does your accounting staff spend excessive time entering each component of a finished good into your software, in order to take the item out of inventory? Does your warehouse staff struggle with which items to pull in order to begin a manufacturing run? Are you in the dark about your true manufacturing costs and profitability? These are just some of the question that may be solved if you start to use assemblies within your manufacturing management software. Learn more about the terms associated with assemblies, and how they can work together to help your manufacturing business become more organized, operate more efficiently, and increase profitability.

Assemblies Maintenance

Assemblies Maintenance is the process of defining which components or parts make up your finished item. The finished item is known as an assembly. Most manufacturing management software will let you create an assembly with all of its components as well as labor (often set up as a ‘service’ inventory item), so that true costs may be calculated. The system may also allow you to include costs from outside services, such as sending out an item to have it painted, which can be helpful if the components require other services before being included in an assembly. Once the assembly for a standard assembly item has been created and saved within your software system, that assembly can be used again and again. You may choose to copy a previously saved assembly and customize it for a different customer, saving significant time.

Assemblies Production

A production plan is a sequential list of assemblies to be built, one at a time. During this ‘building’ process, components are removed from inventory. Many systems will also allow for ‘un-building’, which put components back in inventory, helpful when an assembly was not completed or an order was cancelled. This eliminates the need to remove (or return) individual item components from your software system, as all components are simultaneously removed when the build is completed. Prior to the creation of a production plan, a shortage report can be generated to verify whether all needed items are available in stock. Once the actual physical building of the item is completed on the shop floor, the assembly is then built within the software.

Serial and Lot Numbered Items

Some components within an assembly may contain lot or serial numbers. If you record and track the numbers for each of these components as you receive them into inventory, you may also be able to select which serial/lot number is being used as a component within the assembly you are building. This is an important feature for those who wish to keep tracking the number of the component, even after it has been built into an assembly. If this is a feature you require for your manufacturing operation, be sure to choose a system that allows for that capability.

Bill of Materials

The bill of materials is a document that shows all of the information about a production plan, including its assemblies and required components. This document can be created by the software system once a production plan has been created within the system. The bill of materials typically shows the quantity of components that are needed, and also the quantity that is currently on hand, so that missing components can be put on order. The bill of materials is also useful for warehouse staff, as it provides a comprehensive list of items that need to be pulled for a product run.

Setting up assemblies within your manufacturing management software can greatly help increase efficiency and profits for your manufacturing operation.

You are offering your employees a retirement plan, and perhaps you have even chosen to contribute money to each of their plans. Congratulations! Now think about how you keep track of that retirement information. You can keep the costs of managing your retirement plan down by automating the tracking of that information. Here are some ways to streamline it, and keep employees happy!

Use software instead of a spreadsheet.

Tracking 401(k) deductions with a payroll software system allows you to set up the calculations, and the 401(k) contribution is automatically calculated during time entry. This eliminates your manual calculation, which of course saves time and also reduces errors. You will wonder how you ever got by keeping track of this data in a spreadsheet.

Set up 401(k) deduction limits for employer and employee.

The ability to set up limits within a software system is extremely helpful! By setting up limits, you can be assured you take out no more than the deduction allowed by the federal government, or the amount specified by the employee. You can rest easy, knowing that you are compliant; whereas a spreadsheet makes it difficult to track that information.

Set up effective dates.

If you offer a 401(k) for employees after a period of employment, how do you ensure they are starting to receive those benefits once they become eligible? A great way to remedy this is to set up an effective date within your payroll software system, based on the parameters you set. That way, employees will start receiving benefits as soon as they are eligible.

Export a 401(k) file.

How do you send your 401(k) retirement plan administrator the data they need to manage your plan? Use your payroll software to track 401(k) retirement information, and generate a file right from your software to send directly to your retirement plan administrator. By generating and sending a file, you will eliminate the additional step of gathering/re-entering the information, which could result in manual entry errors. This will also save you significant time!

Show employees the value of your 401(k) program.

Offering a 401(k) program is a valuable employee benefit. Show your employer share of the 401(k) contribution on the payroll stub for employees to see, and they will appreciate each week the contribution they are receiving from you, their employer.

By using these steps, you will improve your 401(k) management, and also keep employees happy with this valuable benefit you are offering.

Processing W-2s is one of the most important and burdensome requirements businesses face every year. It is the time of year many payroll administrators dread for obvious reasons.

Making a mistake on an employee’s W-2 not only puts the business at risk of costly fines and penalties, but also creates a great deal of extra work to fix.

In addition to the liability issues when processing W-2s there is also the matter of effort needed to print forms, preparing them for mailing, and the costs incurred completing the whole process.

Complete W-2 eFiling services can eliminate most of the pain associated with processing W-2s in-house. In the past, these services were provided by payroll service providers and were often very expensive. The addition of complete eFile services to many payroll software solutions, has made this option very affordable, and offers significant efficiencies to small businesses.

What to look for in an eFile solution.

When determining whether a complete W-2 eFile solution is the right choice for your business, there are several features to look for.

1. The solution should be native to your payroll solution and automatically convey your payroll data directly from your payroll entries. Manual entry of your payroll data opens the door to transcription errors and lost time trying to locate and fix errors.
2. solution should include automated error checking that complies at minimum the standards set by Accuwage and eVerify.
3. It should provide the ability to save a history file of each filing and the ability to print file copies if desired.
4. It should include all filings required: Federal copies and State copies including the Federal W-3 and any state reconciliation forms required.
5. It should automatically print and mail employee copies directly to your employees
6. It should also host employee copies to a password-protected website so terminated employees who have change addresses can access their copy and print it as needed.

Additional features to look for.

Outside of the minimum requirements listed above there are several other features that provide benefits and efficiencies.

1. It should provide the ability to schedule when your employee copies are mailed, when your Federal filings are made, when your State copies are filed, and the ability to make corrections at no charge up until the filings are made. Often times when the employees receive their W-2s they recognize a change that needs to be made. The ability to file a corrected Federal and State filing prior to their submission date will save the need for W-2 Cs or other additional forms.
2. It should allow you to review all employee data in a spreadsheet format, which allows easy editing, and the simple entry of additional information required such as third party healthcare.
3. It should include forms for all states that require W-2s and all US territories.
4. You should be able to find testimonial evidence from customers who have used the solution with your native payroll solution.
5. The solution should have at least 3 years of history in providing this solution to assure that the solution is a mature and well-tested product.

Cost.

Finally, the service must be affordable. Typical in-house cost of processing W-2s is from $3.85 to $4.35 per employee. This cost includes processing time, forms, envelopes, and postage.

A fair price for a complete service solution should be below the lower limit of in-house costs.