Tag Archives: accuracy

Accounting with SIMMS 2015

accounting

SIMMS 2015’s Accounting Software solution is the smart solution for organizations looking to replace a stand-alone Accounting program with a comprehensive business management solution with built-in integrated accounting functionality. SIMM

SIMMS’ Accounting is particularly structured for medium- to large-sized mid-market businesses with 10 to 1,000+ personnel. It contains advanced financial management, which serves as the core for the entire suite of applications.

Beyond the solution’s central accounting functionality, SIMMS 2015 also includes advanced budgeting, advanced allocations, multi-currency management, currency trader management, advanced banking, budgeting, fixed asset management and cash management capabilities. It’s all you’ll need for accounting – and more.

• Accounts Payable: Our SIMMS Accounts Payable module provides a comprehensive solution for managing expenditures.

• Accounts Receivable: The SIMMS Accounts Receivable Module tracks receivables, plans cash flow and provides extensive information and reporting features to give you vital business insights to plan for the future.

• Banking: With SIMMS you can edit and add credit card and bank accounts, and easily enter deposits, transfer funds, enter cash, cheque or credit card transactions as well as reconciling cash and credit cards via bank reconciliation.

• Budgets: Maintain and enforce budgets with ease and transfer budget amounts from one account to another.

• Financial Reporting: SIMMS offers virtually unlimited financial reporting capabilities.

• Flexible Chart of Account Structure: Create account structure to fit your business needs using up to 30 characters and 10 segments.

• General Ledger: The SIMMS General Ledger module has many powerful features to help you efficiently manage your accounting.

• Multi-Currency: Process payments and invoices in multiple currencies.

• Sales Commissions: Calculating sales commissions due has never been easier. SIMMS can auto-calculate commissions based on either the AR receivable or the Transactional method.

For more information on how SIMMS 2015 can provide for your accounting needs, click here

SKUs and SIMMS 2015

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The (Stock Keeping Unit) SKU Configurator can be used to determine the composition of the SKU (Item) number. Selection of some characters from the item’s category, subcategory, vendor’s part number, manufacturer or vendor will add them to the SKU number’s format. Users can instead choose that an auto-generated number becomes part of the SKU.

In addition, you can designate how many items have been created under a category and assign that particular item an incremented number anywhere within the SKU configuration. If required, SIMMS 2015 has a manual SKU override where you can manually assign an item your own item code outside of the SKU generation automation.
SIMMS has the capability to assign a particular SKU item number to each inventory item configured in the Inventory Manager, enabling users to automatically assign a particular product’s item number based on an SKU formula that can be devised using the SKU Configurator.

This can be done upon the creation of an item, with the result that once the selection of either the item category, subcategory, brand (sub-sub category), model (sub-sub-sub category) or manufacturer has been made and the Save button has been clicked, the Item code SKU will be automatically created based on the selected options.

Examples of the available SKU choices listed are as follows:
• the first two characters of a category
• a 5-character item incremented number
• the first three characters of a subcategory
• the first four characters of a manufacturer
• A 4-character automatically-generated number for a vendor
• A specific example of an SKU could thus be as follows:
the category of a computer: SU (for SUPER COMPUTERS)
the 40th item configured under the category: 00040
the sub-category: FAN (for FANS)
the manufacturer: PHILL (for PHILLIPS)
the vendor: Ingram Micro (with an automatically generated code of 0009)
Subsequently, the resultant SKU would be SU00040FANPHILL0009.

Visit here to learn more about how SIMMS 2015 can help you with your SKU requirements.

Credit Limits in SIMMS 2015

simms_creditlimitCredit Limits
In SIMMS 2015, you can easily apply a credit limit to a customer. If a customer’s invoice total is greater than their credit limit, the customer must pay the difference or you must override the credit limit for the transaction.

Enter a Customer’s Credit Limit
1. In the Customer Manager, click the Advanced tab.

2. Under Credit Limit, choose one of the following options:
a) Unlimited
b) Maximum

3. If you choose Maximum, in the adjacent box, type the maximum dollar amount of credit for the customer.

Override a Customer’s Credit Limit
You can override a customer’s credit limit for a transaction. To do this you must be assigned the job role of Sales Manager. Only sales managers can override a customer’s credit limit. Job roles are assigned in the User Manager.

You may need to enter your username and password to override a customer’s credit limit. This is only required if you are not the user logged into SIMMS.

Visit www.simmssoftware.com or email sales@kcsi.ca for more information.

Counting Stock

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SIMMS’ Stock Count features make the process of adjusting inventory counts smooth and precise in just a few clicks of the mouse. Adjustments can be made live within SIMMS or on data collectors by those actually performing the adjustments on the stockroom or warehouse floor, who may be granted rights to merely scan-and-correct once any variance is noticed.

Within the process, SIMMS administrators can control the adjusting users’ access to information about the stock that is not necessary for them to know, while managers remain able to see such data under their SIMMS logins. Adjustments can be set to be confirmed or authorized before the adjusted numbers are committed to the stock database. Physical counts done by hand can be compared easily with the on-hand data in the system so discrepancies can be easily spotted.

The system can be locked down while adjustments are being made (the blocked method) or adjustments can be made on-the-fly (the snapshot method). Numerous reports can keep the whole process visual so that variances can be noted, counts corrected, and justifications for the adjustments are logged into the system during the adjustment for current and future reference. Inventory adjustments remain an important process that should be left to a selective group of individuals after the physical count is performed. SIMMS administrators can control this process and the Stock Count features easily help them to accurately track the consumption of stock.

Keeping Up With the System

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There was a cage with several apes in it. In the cage there was a banana hung on a string, and stairs under it. Before long an ape went to the stairs to get the banana, but as soon as it even touched the stairs, all apes were sprayed with water. After a while the same ape or another one made another attempt, with the same result: all apes are sprayed. If later another ape tries to climb the stairs, the others will try to prevent it.

They took one ape from the cage and put in a new one. The new ape saw the banana, and wanted to climb the stairs. To his horror all other apes attacked him. After another attempt he knew: if he wanted to climb the stairs, he would be beaten up. Then they removed a second ape and replaced it by another new one. The newcomer went to the stairs and got beaten up. The previous new ape took part in the punishment with enthusiasm. A third old ape was replaced by a third new one. The new one made it to the stairs and got beaten up as well. Two of the apes who beat him have no idea why they may not climb the stairs. They replace the fourth old ape, and the fifth, etc. until all apes which have been sprayed with water have been replaced. Nevertheless, no ape ever tries to climb the stairs.

One day a new, young ape asks, “But Sir, why not?”

“Because that’s the way we do things around here, my boy.”

If you seek a system for your business accounting and inventory that grows into a newer and better system every time you use it, try SIMMS Inventory Management software. Contact sales@kcsi.ca for more information.

SKU Management with SIMMS 2013

simms_sku

In SIMMS 2013, the Stock Keeping Unit (SKU) Configurator enables you to set the component structure of the SKU (Item) number. You can choose characters from the item’s category, manufacturer, subcategory, vendor, or vendor’s part number to form the SKU number. Alternately, you can choose an auto-generated number to serve as the SKU.

You can also designate the number of items that can be created under a category and assign that item an incremented number. If needed, SIMMS 2013 has a manual SKU override, in which you can assign an item your own item code separate from the automatically-generated SKU.

SIMMS 2013 helps you assign particular SKU numbers to each inventory item configured in the Inventory Manager. This lets you assign an item number based on an SKU formula devised in the SKU Configurator. You can do this during the creation of an item, with the result that once the selection of either the item category, subcategory, brand (sub-sub category), model (sub-sub-sub category) or manufacturer has been made and the Save button has been clicked, the Item code SKU will be automatically created based on the selected options.

Examples of SKU options include these:

• the first two characters of a category

• a 5-character item incremented number

• the first three characters of a subcategory

• the first four characters of a manufacturer

• A 4-character automatically-generated number for a vendor

A specific example of an SKU could thus be as follows:

the category of a computer: SU (for SUPER COMPUTERS)

the 40th item configured under the category: 00040

the sub-category: FAN (for FANS)

the manufacturer: PHILL (for PHILLIPS)

the vendor: Ingram Micro (with an automatically generated code of 0009)

Ultimately, the SKU would thus become SU00040FANPHILL0009.

SKU usage and identification can help your stock management move from simple accuracy to complete precision. If this degree of control is something you seek, visit www.simmssoftware.com or email sales@kcsi.ca to learn more about how SIMMS 2013 is the choice for you.

Accounting with SIMMS 2013

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SIMMS 2013’s Accounting features include a wide array of features for your accounting management. Many advanced management features for tracking and financial success are easy to use and provide you with a robust and comprehensive solution that work seamlessly with the quality inventory management tools you need to precisely control your business management.

With SIMMS, you can:

- Become more productive with automated purchasing and shipping features

- Control job revenue and expenses at the phase and cost code level

- Get screen-level security and multi-user options

- Save cash and reduce costs using “what if” scenarios and your real-time financial info

- Work more efficiently with customer, vendor, and inventory management centers

Both fully customizable and flexible, SIMMS 2013 can meet any of your company’s needs, as it functions easily in combination with existing software, providing you with an accurate balance between your accounting and inventory processes.

SIMMS Accounting modules contain advanced budgeting and allocations, currency trader and multi-currency management, as well as cash and fixed asset management. These tools permit you to proceed and succeed smoothly as your business grows forward into the future.

For more information on SIMMS Accounting, visit www.simmssoftware.com or email sales@kcsi.ca today.

The SIMMS 2013 Business Solution

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SIMMS 2013 Inventory Management Software empowers you to turn data into valuable information for your company’s decision makers with ease and precision.  SIMMS has an ever-growing range of reports that are completely customizable and flexible for the requirements of your business.

Here are some ways that SIMMS 2013 Inventory Management Software can help you in the areas of analytics and reporting:

Achieve Detailed Visibility
Gain a detailed view into your accounting transactions and employ deep analysis with capabilities to organize data hierarchically for multi-level reporting.

Become the Master of Your Accounting Processes
Define the data that is imperative to your business and analyze financial data by whichever criteria you need.

Improve decision-making
Focus on the financial data you need to make better business decisions by including or restricting report content that is relevant to your organization’s reporting needs.

Powerful Integration
Find and analyze all your transactions with precision across your entire organization with seamless integration available in KCSI Business Solutions–SIMMS® General Ledger, Inventory, Kitting, Payables, Purchase Order Processing, Receivables, Sales Order Processing and other options.

Transform your KCSI Business Solution and SIMMS data into presentation-quality information so you can make better business decisions, with compelling views of business data created easier and faster than ever before.

For more information, visit www.simmssoftware.com or email sales@kcsi.ca today!

Direct Advantages of Using SIMMS

kcsi_businessIntelligence

Backed by 25 years of experience in the retail industry, KCSI’s flagship software solution, SIMMS 2013 Inventory Management helps you streamline your point of sale, stay on top of your inventory, keep track of your customers, improve your purchasing decisions, manage your accounts, lower your costs, and boost your profits.

While being already an affordable solution, SIMMS can actually save you money through increased efficiency and lower operating costs. Fewer errors at the point-of-sale and reduced shrinkage mean fewer losses. Faster processing and shorter training time mean your staff is more productive. Improved inventory control means less money tied up in inventory and faster turn rates. All of which add up to real savings for you.

Right out of the box, SIMMS is fully-loaded with the essential features you need to handle every aspect of your business. It covers all the bases with point-of-sale, inventory management, customer tracking, purchasing, sales history, and includes interfaces to your favorite accounting solutions, allowing your store records and books to stay synched. KCSI even provides baseline data to help you get started right away.

SIMMS Inventory Software is ready to expand when you are, with optional extras that you can add as your needs grow. Install the kitting (BOM) Option for additional kitting functionality, or Receivables Option to carry your own accounts. Install the OR plug in the data collector Option to unplug your operations. Add Basic Accounting for accounting software that’s truly integrated. These and other SIMMS Software modules – like General Ledger, E-store, Fulfillment Management, and more—let SIMMS help manage your business.

Visit www.simmssoftware.com today for more information on gaining The SIMMS Advantage.

Two Questions of Stock Accuracy

A worker counting the ready products stacked on the shelves in a factory storeroom.

Any company that hopes to have a continuously-accurate shelf count that matches its record count needs to prevent all unauthorized personnel from physically interacting with stockroom/warehouse contents. Further, personnel who are authorized must have a paper- or computer-based document before placing anything into (or removing anything from) storage areas. These two points are crucial to the maintenance of inventory accuracy.

Often, items’ physical lives in storage become separated from their paper/record lives, and people begin to ship or use products that have not been received, or put away products that have not been received so that no one knows that they are available for sale or use. These improprieties create an environment where inventory personnel and accounting personnel are making numerous adjustments to the record count. In a sound system, its design and processes must immediately disallow such occurrences.

In advance of the implementation of methods to reveal, analyze, and repair any discrepancies between actual on-hand inventory levels and system record levels, you must take a precise snapshot of the current state of inventory. Two sets of numbers are needed for the assessment to be both useful and accurate: 1) An inventory record accuracy (IRA) and (2 The Fill Rate.

IRA is a reflection of how well your shelf count and record count match. It answers the question of how well your stock records reflect the stockroom’s actual contents.

The Fill Rate is a reflection of the effectiveness of your inventory. It answers the question of how often you have inventory that you need at the moment you needed it.

These two questions can not only be applied when every stock count is performed but also may be applied at the level of every transaction. In fact, basing adjustments to your stock system on these two criteria can only help you achieve a more accurate and precise process. SIMMS Inventory Management software can help you make all the right decisions based on all the significant analyses it contains. For more information on SIMMS 2013, visit www.simmssoftware.com or email sales@kcsi.ca today.