SIMMS Inventory Management software’s Item Valuation features permit users to implement within the system the valuation method that best suits their company’s needs. A choice of six leading-edge valuation methods makes SIMMS the most comprehensive package on the market today. Whether your business is in the service industry, providing products or goods, or wanting to be a greater competitor in your local or national economy, valuation is an important decision to help you keep on top of your market.
Overall FIFO (First-in, First-Out), Local FIFO, LIFO (Last-In, First-Out), Average, Weighted Average and Standard Valuation provide different advantages, depending on the needs of your company. The first principal of inventory management is to stock only the goods that you have a demand for. The second principal is convert stock items back into cash as soon as possible. SIMMS can help you achieve those two important goals.
In today’s economy, inventory turnover is of utmost importance. While dealing with rising prices for raw materials and a demand for a wide array of goods required by your customers, the wise choice is to plan for tax savings and the avoidance of debt — companies need to invest money only in stock that is selling, and not base their payments for stock on future sales: they win by owning the items in their warehouse outright, and organizing themselves to most efficiently move the stock out the door. Maximizing your cash flow and minimizing your tax burden and debt load should be the goal, and SIMMS Item Valuation features allow you to employ the best method to help you succeed.
Users of SIMMS Inventory Management software can reconcile credit card, cash, and checking information, manage bank accounts and deposits and transferal of funds smoothly and easily with SIMMS’ Banking features. Accounting requirements can be a challenge to those who are not trained accountants, but SIMMS makes those structured and necessary steps easy to create, edit and manage using intuitive and easy-to-understand screens.
While other software packages require users to master complex accounting procedures and manually implement them, SIMMS has been created using the input of accountants, whose suggestions and focus on the most important information have contributed to the easy and practical steps included in the initial setup of SIMMS. This way, none of the most important settings are missed and none of the data requested during the setup is left as something confusing to the user. Addition of secondary data takes place during the secondary steps of setup, enabling SIMMS users to realize which information is the most important.
Whether it is in the management of the user’s various accounts, or the tracking of balances due and payment history from customers or to vendors, their details are easily entered or amended within the program. This seamless combination of top-level stock management and leading-edge accounting practices make SIMMS’ Banking features THE choice for small to medium sizes businesses everywhere.
SIMMS’ Multi-Currency module delivers powerful and comprehensive multi-currency functionality to business of all sizes. Currencies from anywhere around the globe provide an edge over your competition. Unlimited currencies makes your accounting and sales details complete and easy, no matter where your vendors or customers are. Outstanding balances in Accounts Receivable or Accounts Payable can be both displayed and reported easily for all currencies in which you conduct business.
Processing payments is swift and efficient, and the ability to override default currencies for vendors, customers and/or items is complete. Full EMU accreditation is part of the process automatically. Different selling and buying rates are supported. Make easy updates to exchange rates as they fluctuate.
At the transaction level, changes can be adjusted or entered to keep the balances accurate and immediate. Checks can be printed in any currency to any individual checking accounts that users choose. Additionally, within a Point of Sale scenario, the user’s base currency or the customer’s base currency can be employed seamlessly at-the-moment of sale. The versatility of SIMMS’ Multi-Currency module will make all these challenges simple to address at the time and will aid to the expansion of your business to anywhere in the world.
SIMMS Inventory Management Software includes a comprehensive Sales Commissions feature that makes this important process both easy to set up and reliable for its accuracy. Companies often wish to see how regional or departmental sales agents have contributed to the revenue of the last campaign or sales period. Accounting departments need the access and tracking of the amount of commissions owed to the staff. Both requirements are answered easily by SIMMS.
Both on a by-transaction basis and on an accounts receivable basis, users can create percent-specific commissions which feature categories of items, item quantity ranges and/or percentile groups. Once the commissions templates have been created, they can be applied to whichever agents the user selects.
Items and their groups can be factored into the commissions. Commissions containing customers’ purchase volume rates correspond to their particular purchase deals with your company. Further, maximum value schedules and royalty payouts also are applicable easily in SIMMS’ Sales Commissions feature.