ERP for Professional Services

Synergy Business Solutions 's Logo Project Accounting in the Microsoft Cloud

With Progressus Software, there is now a powerful Microsoft cloud solution for small-to-mid size professional services and project-based businesses for their project accounting. Designed to leverage Microsoft Dynamics 365 and Microsoft Dynamics NAV, Progressus is a multi-language, multi-currency business management solution that empowers companies to more effectively manage their operations. Project Accounting Modules Progressus adds …

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Synergy Business Solutions 's Logo When You Need to be Wary of the Hype Around the Cloud

It’s true that cloud-based ERP systems have major advantages. They can get you out of the IT business. Especially for start-ups, paying for a system with the software-as-a-service (SAAS) model can be cost effective when you compare it to paying salaries for an in-house IT Team and costs for hardware, servers, utilities, and backups. Moreover, …

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CAL Business Solutions, Inc.'s Logo Why I Recommend Revenue Recognition in Acumatica Cloud ERP Software

Revenue recognition is an important feature in accounting software for any company that either sells contracts or provide services that are fulfilled throughout the year. To be GAAP compliant, you must recognize revenue when work is completed, not when bills are sent and paid. So it is referred to as Deferred Revenue. There are specific …

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Synergy Business Solutions 's Logo Microsoft Dynamics 365, Dynamics SL, and Project-based Industries

Dynamics 365 is Microsoft’s next generation of business intelligence applications in the cloud. It’s a cloud-based financial management solution that is highly integrated with Microsoft CRM and Office 365 with powerful capabilities for sales and operations. But is it a good solution for project-based industries? The short answer to that question is "Maybe, if your …

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BTerrell Group, LLP's Logo Modified or full retrospective – which is right for you? Transitioning to ASC 606.

Companies have two options when implementing the new Revenue from Contracts with Customers standard, codified as ASC 606. You can take a retrospective approach or a modified retrospective approach. Both approaches require significant effort to account for contracts under both the old and the new guidance before and during the transition year, and clients with …

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BTerrell Group, LLP's Logo Distinct or a Bundle? The “Gotchas” in the new Revenue Recognition Standard

The confusing complexities that just may come back to bite you In our continuing series covering the major and minor points of the new Revenue Recognition rules contained within ASC 606, we wanted to shed some light on some of the nuances laced through the rules’ verbiage. While on the surface the rules sound fairly straightforward, …

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Synergy Business Solutions 's Logo Why Intacct Cloud ERP is Arguably the Optimum Solution for Select Organizations

Companies that are heavily project-based, government contractors, and/or make-to-order manufacturers need an ERP system that can handle highly specific requirements such as Microsoft Dynamics SL, whether on-premise or hosted. But other small-to-mid-size organizations—nonprofits, professional services, software/SaaS, healthcare consulting, and hospitality—would benefit more from the multi-tenant Intacct Cloud ERP solution. Here are some reasons why: Intacct …

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BTerrell Group, LLP's Logo Your Five-Step Program to Revenue Recognition Compliance

I’ve been writing a lot lately about the new revenue recognition standards (created by ASC 606 and IFRS 15) companies will soon need to adopt to ensure compliance. Granted, it’s a complex and somewhat dry topic, but it’s one poised to have a tremendous impact on public and private companies alike. Since most of us …

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BTerrell Group, LLP's Logo Which Industries Will Revenue Recognition Updates Impact the Most?

You know your business is unique. Depending on what you offer, what industry you focus on, and even where you’re located, you’re bringing some type of unique value to your clients. The way you manage your accounting can also be very different from other businesses. Some industries have certain ways of managing contracts while others …

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BCG Systems, Inc's Logo NetSuite Release Notice: Last Sales Activity Enhancements

Last month, we talked about NetSuite 2016 New Release Highlights as well as NetSuite Updates for Android and iOS. Aside from the long list of enhancements NetSuite releases bi-annually, they send out solo releases for heavily used features. The most recent announcement focuses on the Last Sales Activity SuiteApp. Last Sales Activity has undergone a …

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