Service Orders Now Supports Multiple Payments and Payment History

Service Orders now has the ability to process and maintain multiple payments of the same type in the same day.

The Service order system now creates all payments in a linked sales order. This is to ensure that we have history of payment dates and amounts. Changes to the Mobile Table have been added to support multiple payments of the same type.

New Posting Register Options!

The posting registers produced by each SouthWare posting process provide an audit trail of the updated data. We have a “Posting Register Portal”. In this portal you may choose to activate logging of registers and to automate several features of the posting:

  • Auto-Output – Defining an Auto-Output for a posting register enables the creation or updating of a log record for each posting that uses that register. Specify which output format (and optionally which printer ID) to automatically use.
  • Separate File setting – Indicate whether to create a separate file per posting, per day, or per month (if spooling). This lets you optionally combine related postings into a single file to make it easier to search for data.
  • Active – After defining logging for a post register type you have the option to activate/deactivate the logging if needed.
  • Auto-Post to G/L – For each G/L interface process you may specify whether to automatically post G/L distributions to G/L transactions as part of the posting process. This will create a G/L transaction per posting.
  • Edit or Set Up buttons – The button to the right of each posting register line accesses the maintenance program you can use to access the options for the register. The Set Up button automatically creates the record, then lets you review/edit it as needed.

Secure Payment Processing – New Interface to Element Express

Simplify and Secure the Process of Electronic Payment Acceptance.

SouthWare offers customers a fully integrated, PCI/DSS compliant, and cost-effective payment processing solution via is partnership with Element Payment Services, the industry leader in PCI DSS compliant payment processing solutions.

Through a simple upgrade, capture every sale with easy-to-use, reliable payment processing solutions that simplify card payment acceptance and dramatically reduce the risk associated with handling cardholder data. The state-of-the-art Element Express Processing Platform supports credit, debit and check solutions and includes features such as TransForm tokenization, point-to-point encryption and comprehensive Web-based reporting, allowing customers to easily comply with PCI DSS requirements for your payment processing software.

Key Benefits:

• Process Payments Using the Fully Integrated Payment Module in SouthWare, Eliminating the Need for Standalone POS Terminals Or Costly and Unsecure Third Party Software
• Option to Keep Your Current Processor While Leveraging the Advantages of Element’s Processing Platform
• Security and Compliance with Industry Standards such as PCI DSS
• Access to 24×7 Customer Support at No Additional Cost
• Get the Most Valuable Payment Processing with Highly Competitive Processing Rates and Fees.

Prevent Bad Debt – Improve Cash Flow and Liquidity

Even in good times, many customers are slow to pay. With the current economic situation, you may see collection times lengthening even more as your customers begin to conserve their cash.

Many companies spend a large amount of time at the end of a month running reports and then making collection calls. Often the over due balances that appear on the monthly report occurred at the beginning of the month and are much more than 30 days past due.

You should consider using a management tool such as an Alert to improve your collection process. You can set the alert to send a notification every morning that includes the past due invoices as of that day and immediately begin your collection process. With the right technology, the alert can be structured to include all the information necessary to make the collection call, such as the contact name, phone number, invoice number and amount past due. This will help your employees become more effective, reduce the time it takes to collect the cash that is due you, and improve your cash flow and liquidity.

Lost & Found – Quicker Collections, Quicker Profit

In this Lost & Found, we will look at the problems you encounter with your AR Collections and how it affects your cash flow and your profit. Even in good times, many customers are slow to pay. With the current economic situation, you may see collection times lengthening even more as your customers begin to conserve their cash.

Many companies’ collection process consists of reviewing customers with past due balances on an aging report at month end. Time is needlessly spent looking at all the current AR trying to find what is past due. Calls are then made to collect these balances. Invoices that became past due early in the month, may already be up to 30 days old.

What would the benefit be if you could reduce the days of outstanding past due balances? With tools such as an automatic alert, you could be notified every morning of the past due invoices as of that day. This could greatly reduce the time it takes to collect the cash that is due to you.

There are many other ways to improve your cash collections, but how does that affect your bottom line? Fill in the blanks below and see how much your company can increase your profit by improving your cash collections.

Variable

Example

Your Business

Current Annual Sales

$2,000,000

$

365 Days Per Year

÷ 365

Average Daily Sales

$ 5,479

$

Current Days Outstanding

x 60

Total Current Cash Outstanding

$ 328,740

Average Daily Sales

$ 5,479

$

Anticipated New Days Outstanding

x 10

Anticipated Cash Outstanding

$ 54,790

Total Current Cash Outstanding

$ 328,740

$

Total Anticipated Cash Outstanding

54,790

Total Improved Cash Collections*

$ 273,950*

Annual Return (Current Prime Rate)

x .07

Improved Annual Profit

$ 19,177

$

*This is additional cash that will be liberated from your AR.


Invest in your business in 2008

Economic Stimulus – The economic stimulus bill recently passed by the US Congress and signed by President Bush includes a provision that should encourage many businesses to consider investing in their business operations.  One of the easiest and fastest ways to do this is with new enterprise software.

The Economic Stimulus Act of 2008 provides a “bonus depreciation” allowance for certain property acquired during 2008, including computer software.

Traditionally, a business must recover the cost of property over a predetermined period of years for tax purposes. The new law will allow a trade or business to depreciate an additional 50 percent of the cost of an eligible asset acquired and placed into service in 2008 – in that same tax year. 

Customers of Exerve can take advantage of this law if they purchase and place into service our products during 2008. The financial benefits will vary depending on the cost of the product purchased, but the law does not contain a cap or floor on the amount that can be spent on such property.

Because this provision is for 2008 only, software purchases may be especially attractive to many IT departments. Most organizations cannot accelerate the timetable for purchasing and installing capital equipment as easily as they can accelerate the purchase of software.

If you are interested, you should contact your CPA to assess the potential benefits of investing in igniting your business success with Exerve’s help in 2008.