Tag Archives: reporting

Exception Reporting

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A natural outgrowth of systems with master scheduling, exception reporting helps re-buyers and inventory managers know where to take action without their having to review every item every week in detail. Retail and direct inventory systems both use exception reporting. Types of exception reports include:

  1. Management Reports (for instance, top 50/bottom 50 in sales)
  2. Product Characteristic Reports (e.g., all items in a certain fabric across departments)
  3. POs needed based on stock-out calculations, on hand and on order, and projected demand with item/vendor lead time
  4. Ranking reports for returns, cancellations, gross margin, and liquidation
  5. Forecast variance plan to actual
  6. Slow sellers and candidates for liquidation
  7. New vs. Repeat performance
  8. Imported vs. Domestic Product

For more information on exception reporting visit www.simmssoftware.com or email sales@kcsi.ca today.

SIMMS 2013’s General Ledger

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SIMMS 2013’s General Ledger has many enriched features such as flexible accounting periods, maintenance of non-financial information, a comprehensive search criteria, allocation entries, and view information as graphs and bar charts. When your business relies on accurate and timely general ledger and accounting data, your obvious choice is SIMMS 2013 Inventory/Accounting software.

The maintenance of multiple departments or companies using various currencies and tax regimes is simplicity itself. Fully integrated to the rest of the feature-rich SIMMS system, General Ledger not only collects all data, but also allows you to view it in any form you would like. Multi-currency transactions are kept easy and immediate through SIMMS’ use of a central currency table.

With the versatility of SIMMS 2013’s General Ledger you can:

• Add and edit credit card and bank accounts

• Add new divisions or companies with speed and ease

Complete complex General Ledger tasks while being fully integrated with all of SIMMS 2013, providing comprehensive company management with vital insights

• Conduct Branch Management and Multi-Company smoothly

• Conduct unlimited financial reporting, using financial statements and supporting schedules to help you make vital decisions

• Create budgets by account or by entity (annually or by period)

• Design financial statements into your preferred formats

Enforce and maintain General Ledger budgets including the transfer of budget sums between accounts

• Employ simplified departmental/divisional income statements and standardized report formats

• Enjoy a flexible Chart of Accounts structure, suited specifically to your business needs with up to thirty characters and ten segments, or, select one from over a dozen industry-specific structures

• Enter deposits and cash/cheque/credit card transactions

• Organize default distribution of periodic entries

• Transfer funds at any time

• Reconcile cash/checking/credit cards easily with complete accuracy


• Recreate the distribution of any entry

• Retain data permanently from the very first day

• Select and summarize data for any specific General Ledger account

• Summarize accounts by category across multiple companies or divisions


For your varied and complex General Ledger requirements, visit www.simmssoftware.com or email sales@kcsi.ca today to learn more about how SIMMS can suit your company.

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.

Reporting on Exceptions with SIMMS

simms_reporting

A natural outgrowth of inventory monitoring systems with master scheduling and exception reporting provides re-buyers and inventory managers with data to help in deciding where to take action without having to review every item every week in detail. Retail and direct inventory systems both use exception reporting.

Types of exception reports include:

  1. Forecasting Variance (plan to actual)
  2. Imported vs. Domestic products
  3. Management reports (such as Bottom 50 and Top 50 in sales)
  4. New Item Sales vs. Repeat Sales of Long-time Items
  5. Purchase Orders required because of stock-out calculations, on-hand and on-order, and Projected Demand with item/vendors’ lead time
  6. Product Characteristic reports (e.g., all items made from a certain fabric compared across all of your departments or locations)
  7. Ranking reports for cancellations, gross margins, liquidations and returned items
  8. Slowest-Selling Items (and items proposed for liquidation).

Any good inventory management system will provide details of the stock items that perform differently than the majority, and SIMMS 2013 has multiple levels of customizable reports to get you the information you need to make your best choices and decisions.

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

 

Analytics with SIMMS 2013

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The wealth of information you have within your company systems needs to make its way into the hands of the right personnel. SIMMS 2103 provides the easy translation of your data into meaningful, practical information. Using a broad range of flexible analytics, budgeting and reporting options, you can consolidate everything from complex analysis to the simplest reports into data to gain a true advantage over your competition.

Gain Deeper Visibility

Achieve a detailed view into your accounting transactions and enable deep analysis with capabilities to organize data hierarchically for multi-level reporting. Take control of your accounting processes

Integrate Seamlessly

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

Improve Your 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.

Transform Your KCSI Business Solution Data

SIMMS data can be transformed into presentation-quality information so you can make better business decisions, with compelling views of business data created easier and faster than ever before.

Variance Reports

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Variance reports compare an expectation with what actually
occurred. They can be based on any factor necessary for
tracking an expectation. Some factors are dollars, labor, consumption rates, lines/pieces per hour, or trucks per day.

Three main sections with two subsections each:

1. Materials price variance & materials quantity variance
(If the company is paying too much for materials or using too much materials for a product, that is an unfavorable variance.
If the company is getting materials for less than the standard cost or is using less than the standard materials for a product, that would be favorable).

2. Labor rate variance & labor efficiency variance.
Labor rate variance measures deviation from standard in the average hourly rate paid to direct labor workers.
Labor efficiency variance attempts to measure the productivity of direct labor.

3. Variable overhead spending variance & variable overhead efficiency variance.

A typical threshold is 10% and $5,000, although this may differ substantially for larger departments. Using this as an example, the supply expense above would not require an explanation.

The percent variance is 10%, but the dollar variance is only $1,000. This eliminates the need for unnecessary work in researching and identifying small variances. Similarly, if an item was off budget by $10,000, but was off a small percent, there would be no need for explanation. Some companies only require an explanation if there is a negative variance.

If the variance meets both conditions, the manager needs to research and explain why. It may be things have changed from the budget. Volume may have changed increased, or there may have been unexpected price increases.

The manager should be the best judge of what differs from the budget. If the budget was prepared by someone else, consult any notes there may be. If there are none, the manager’s opinion is still likely to be better than an accountant’s.

Creating a sensible, well-documented budget provides for better explanations of variances. Detailed, accurate explanations demonstrate credibility to administration.

Location Names

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Location names are useful tools enabling you to efficiently put stock and subsequently be easily able to find it again, as you need. Go into any business and you’ll find lots of items stored in locations that aren’t clearly labeled, or don’t have a well thought-out, recognizable name. A location name doesn’t need to be too complicated, detailed or cryptic. In many businesses, the staff will already have common terms they use to describe various locations. If that’s the case, then build on the common understanding where necessary.

Location names should be unique. No two locations should ever have the same name. All physical spaces in your facility should have a location name, even if you don’t currently store anything in that space. All locations should be labeled. The location labels should contain the full name of the location, and if possible, have arrows that point to the location.

Zone/room names should be abbreviated (commonly to a single letter) and contained in the full location names. Within a zone or room, location names should ascend from top to bottom, and from left to right. If your inventory operations cover more than one facility, or a large facility, of if you’d just like to be able to group locations together for reporting purposes, we recommend creating zones, or location groups. By abbreviating each room name, we can easily incorporate it into the location name without making our location names too long. This will help when viewing location names in tables and on labels. Concentrate on the following advantages:

- You can find locations faster
– There’s no confusion about what a place is called
– Others not so much
– Ability to reuse section names
– You can sort data, print count sheets, and do other activities, by zone
– Abbreviations make it easier to type in location names.
– Abbreviations make it easier to include the zone names on location labels
– Reports read more quickly when the same long title does not appear over and over again
– No confusion about what a place is called

Shortening your Zone Names to just one letter will help you meet your goal of including the full name of a location on every location label. The precision and immediacy of your location names will add ease and speed to every step of your reporting, inventory processing and comprehensive stock management.

SIMMS Inventory Management software gives you the greatest latitude regarding your location choices. From an unlimited number of locations possible,

The Inventory Exceptions Report

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An Exception Report is a type of summary report that identifies any events that are outside the scope of what is considered a normal range. Reports of this kind are employed in a number of settings, including the process of stock reconciliation, project management investigation, and even employee assessments. The goal of the report is to identify any factors that are not considered to be within acceptable parameters, making it possible to take actions that help to minimize or eliminate exceptions and increase overall efficiency.

As it relates to inventory reconciliation, an Exception Report is often essential to the task of identifying differences between a physical inventory and the inventory that is presented in inventory databases. Over time, errors can occur in almost any type of inventory, making it necessary to make adjustments that reflect the actual amount of goods on hand. Doing so not only makes it easier to adjust ordering of new items so that an adequate amount of supplies are kept on hand, but also makes it possible to keep the inventory accurate for the assessing of taxes.

In addition to helping to reconcile different types of inventories, an Exception Report can also be helpful in the task of project management. In this scenario, the report spotlights pending tasks that are still outstanding, even if the projected completion date for that task has passed. By noting the exception, it is possible to revamp the schedule of tasks for the project to compensate for the discrepancy and get the project back on track.

Even in the area of employee assessments, Exception Reports can be helpful. Here, the idea is to identify any events related to the employee that fall outside the scope of the basic expectations associated with the job position. The exceptions may relate to performance failures or to performance that goes above and beyond the usual job position. For example, the detail of the exception report may indicate the employee needs further training in certain areas, or identify situations in which the employee was able to take on extra duties while a coworker was ill, effectively aiding the business operation to continue with little to no change in productivity. Depending on the nature of the issues documented on the Exception Report, the employee may be recommended for remedial training, or be presented with a commendation for providing additional services to an employer while still managing his or her assigned duties effectively.

Reporting of Accounting in SIMMS 2013

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SIMMS 2013 provides a comprehensive selection of reports that you can customize for their content and layout, so your business can get the information it needs.

Your accounting details can be viewed in an all-inclusive or hand-picked format that both provide information that can be analyzed both historically or at a per-customer basis. You can organize your information in summary form or on a per-transaction basis to provide the data in one place that you need most.

The financial data that can make quicker and better-informed decisions, enabling you to establish the report content that is germane to each department in your business. Further, you can trace the integration of information to bring focus to your various departmental structures, such as kitting (BOM), WIPs, General Inventory,  Receivables, Payables, General Ledger, Sales Orders and Purchase Orders (both processed and pending), and many others.

Ultimately, SIMMS 2013 lets you delineate the data that is important to you and your company as well as providing built-in tools to analyze your financial history and current revenue and expense flow.

To learn more about how SIMMS 2013 can aid in the improvement of your fiscal concerns, visit www.simmssoftware.com or email sales@kcsi.ca today.

Inventory Reports

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With your inventory system in place, you need to organize your stock records both quickly and easily, and gain the ability to set up items and prices by entering all item information within a single item management window. The system needs to allow unlimited warehouse locations and track pricing, cost, stock, and order information for each item and location. You must also automatically monitor inventory status for each item and location, such as available for sale, not in stock, overstocked, oversold,
on hand, on order, committed to sale/production, and transfer locations.

The system requires very versatile processing features that include unlimited transactions, serial/lot tracking (optional), bin numbers, multilevel bill of materials, kitting functionality, and an easy-to-use physical count process. Designed with the flexibility to meet the needs of diverse business environments, Inventory Control allows you to maintain and report on as many as eight different costs per location, including FIFO, LIFO, moving average, user-defined and serial or lot costing. It must be robust enough to manage fractional quantities (to four decimal places) and maintain different units of measure for all purchasing, selling, and stock.

The features above are available in SIMMS Inventory Management software, the flagship software business solution from KCSI. Visit www.simmssoftware.com to learn more about how SIMMS can give you the reporting advantage over your competitors and take the lead in your business field.