Overview An organized and controlled GL period close is essential to the completion of accurate financial statements. Accurate statements are critical in expense control analysis and support informed financial decisions. Accounting years are based on a number of accounting periods. While monthly accounting periods are the norm, accounting periods do not need to be based…
Overview A monthly departmental expense variance to budget or forecast meeting with accounting, is a useful tool used to proactively control expenses and support department manager accountability. In a budget only setting, a review of department expense performance is scheduled as a part of the financial close. As a part of the closing process, preliminary…
Microsoft Dynamics SL has served project and service-based SMBs for 40+ years. In a lot of ways, it’s still a solid product–made to address the unique challenges consulting firms, construction companies, and professional service orgs face day-to-day. Inside, you’ll find a suite of modules for things like project accounting, supply chain management, and complex financials.…
Background The J.G. Management Systems (JGMS) team works shoulder-to-shoulder with some of the world’s most respected government organizations such as Department of Energy, Department of Commerce, Department of Homeland Security, Department of Defense, Department of the Interior, Department of Agriculture—and excels at tackling the most difficult projects. A national award-winning firm, JGMS has over 20…
Background Kidder Mathews is the largest independent commercial real estate firm on the West Coast. With over 900 local market specialists and top-producing professionals, Kidder Mathews has 20 offices in Washington, Oregon, California, Nevada, and Arizona. The expertise of each local office is reinforced by the relationships, intelligence, and experience of the entire firm. The…
Background A large insurance company embarked on a journey to modernize its business systems and processes. With the help of Velosio, the company successfully transitioned to Microsoft Teams for both internal communication and their external phone systems and implemented Microsoft Dynamics 365 Business Central (BC) for financial management. The Need for Anywhere, Anytime Access The insurance…
The lifecycle of software is a critical aspect for businesses relying on technology solutions like Microsoft Dynamics SL. With Dynamics SL 2018 transitioning from Mainstream Support to Extended Support in January 2024, it’s essential for users to understand what this change entails and how it impacts their business operations. This shift marks a significant milestone…
Project-based organizations that are still utilizing legacy systems today have a host of potential system failure, compliance, and integration concerns. There are a number of reasons why organizations hold off on a digital transformation. One of the biggest is a fear that a “big bang” implementation will disrupt business. Although it might appear as though…
Cost of Maintaining Legacy Systems Many project-driven organizations still maintain legacy software solutions for a variety of reasons, but they are very costly to maintain and support. Many believe that maintaining legacy systems is more expensive than modernizing them. According to the United States Government Accountability Office, ten of the government’s legacy systems cost approximately…
An accurate budget is the basis of effective business management. Today, most companies prepare a financial budget. Some build budgets at an extremely high level (e.g., sales, cost of sales and expenses), others build a detailed budget (e.g., sales detail by type, expenses by department, capital spending, projects). Companies may also budget the Balance Sheet…
