Auditing Software

August 12, 2004 — The Encompix Purchasing system supports company-wide activity, including the purchase of direct and indirect materials, MRO and services. The system supports requisitions with specific approvers, based on authorization levels. Material requisitions can be consolidated into a Request for Quotation (RFQ) and easily converted in to a Purchase Order (PO) based on the response.

The Purchase Order management provides multiple ways to create a PO. Orders can be entered manually or created as a result of Dependant Demand Planning (DDP) which creates suggested purchases on a time-phased basis.

Purchase Orders can be for stock or directly for a project. On receipt the material goes directly to Work-in-Progress (WIP) and the cost is allocated to the job as WIP or COGS.

Vendor Performance ranks suppliers based on delivery, quality and price. If designated, a PO line item can be received directly into Inspection for quality verification and, if necessary, returned to the vendor.

Using Workflow triggers, individuals can be automatically notified of exception conditions, e.g. โ€œProduction order awaiting material.โ€

Inventory Management without Item Numbers

Because most materials are purchased to the job, you don’t want the constraints of an item-based system, which requires all item transactions to go to/from inventory.

One key differentiator of Encompix is that the job and bill of material structures do not require the use of an item number.

Complete lot and serial tracking, for both stock and non-stock items, multiple inventory locations, multiple cost types, cycle counting and physical inventory are all supported. As opposed to most ERP systems, Encompix inventory replenishment is driven by simplified min/max and reorder point logic, which is not constrained by a long, centralized MRP run. If necessary, ETO manufacturers can also view the total on hand, allocation and on order quantities, allowing one to replenish the part through the dependent demand planning.

Encompix has filled the manufacturing software requirements of Engineer-to-Order companies since 1992. The company name reflects our commitment to developing business application solutions that encompass the complex areas of project-based and job-based manufacturing. Encompix provides ETO manufacturers with a competitive advantage by improving bottom line results.

Author: Anonymous
Source: free-articles

Who’s afraid of the IRS?
Let’s face it: We All Are!
And with good reason . . . IRS horror stories
abound, and we all know someone who’s been
through an IRS audit and lived to tell about it.
So the purpose of this article is to help
calm those fears. Maybe I can’t remove them
completely, but I do hope you find some
comfort in what I’m about to tell you.
Do you have any idea how many
tax returns are audited every year? Here
are the numbers, as provided by the IRS:
INDIVIDUALS — without Schedule C

Gross Income:

100,000 …………… 0.74
INDIVIDUALS — with Schedule C

Sales:

100,000 …………… 1.36
C CORPORATIONS

Assets:

< 250,000 …………… 0.22%

250,000 – 1M ………… 0.73

1M – 5M …………….. 2.06
S CORPORATIONS ………. 0.42%
PARTNERSHIPS/LLCs ……. 0.27%
Let's take a close look at these numbers,
shall we?
Notice that in virtually every category,
the audit rate is less than 1.0%. The only
exceptions are large C Corporations with
assets over $1 million, and Sole Proprietors
(Schedule C filers) with sales greater than
$100,000 or less than $25,000.
Think about this for a moment — your chances
of getting audited are probably less than 1 in a 100.
Do you like those odds? I sure hope so.
The IRS doesn't have the resources to
conduct widescale audits. That's just the
way it is.
Now, how should this good news about IRS audit
rates effect you? I can think of at least
three ways:
1. When it comes to your attitude toward the IRS,
cheer up and take heart. The likelihood
of an audit is slim. I meet people everyday who
appear to be well-adjusted and successful, but
just bring up those dreaded letters, "IRS", and
they turn into a paranoid basket-case.
There's no need for such irrational fear. You've
seen the numbers. Let the facts control your
emotions, not myths and misconceptions.
2. Keep these audit rates in mind when deciding what
deductions to take. I am not recommending that you
cheat on your tax returns, but I am suggesting that you
consider being more aggressive. If the item in question
is not fraud, and if you have at least an arguable
position, these low audit rates lend merit to the old
saying "when in (reasonable) doubt, deduct it".
3. The low audit rates should NOT give you reason
to become sloppy in your recordkeeping. Please do not
take the attitude, "Well, since there is such a small
chance of being audited, why keep records at all?
Who needs all this paperwork?"
Who needs to keep accurate records of income and
expense, even if the odds of an audit are low?
YOU DO!
If you are serious about being successful in business,
you will want to know how the business is doing, right?
And if you think that your checking account
balance is an accurate indication of the success
or failure of your business, you are mistaken.
Successful business owners keep their finger on the pulse
of their business every week. They know how much is
coming in (and why), and they know how much is going out
(and where).
Successful business owners maintain accurate financial
records so they can make sound business decisions to
increase sales, minimize expenses, and multiply profits.
If your attitude is anything less than that, your
business is doomed to fail.
While the chances of being audited are low, so are
the chances of being successful without good records.
NOTE: The above statistics are taken
from an Excel spreadsheet freely available
at the IRS website. This spreadsheet shows
audit rates for all types of returns for
years 1996 through 2002.
http://www.irs.gov/pub/irs-soi/rtctab6a.xls
Wayne M. Davies is author of 3 tax-slashing eBooks for small
business owners and the self-employed. For a free copy of
Wayne's 25-page report, "How To Instantly Double Your
Deductions" visit http://www.YouSaveOnTaxes.com

Author: Wayne Davies
Source: articleage.com

FOR IMMEDIATE RELEASE

Redwood Valley, CA, May 1, 2002 – SpiritWorks Software Development, recently released updated versions of its personal information management (PIM) software on productivity-software.com. The improved versions of these award-winning programs help self-employed professionals and small businesses keep track of their time, expenses, contacts, schedules, invoices, inventory and more.

Activity & Expense Tracker Plus is a simple, user-friendly PIM system, that records your time, activities and expenses for any number of projects. With numerous, customizable capabilities, this productivity software allows users to streamline business efforts by gaining in-depth insight into the time associated with each activity so they can dedicate more time to the truly productive, profitable activities.

“A&E Tracker Plus is the easiest to use and most effective time keeping and invoice generating program on the market. It is graphically pleasing and extremely user friendly. A&E Tracker Plus allows you to accurately track your activities and designate your own categories for a detailed invoice that will itemize all you have done for your clients on any project. This is the one program that any professional that depends on accurate time keeping and billing should not be without. It’s a must have.” -Allan Rousso, Gateway Consulting, St. Louis, Missouri

This productivity software enables small businesses to be more productive by efficiently tracking and archiving business tasks. Users can easily generate reports and invoices for printing or exporting, while also keeping track of contacts, appointments, passwords, vehicle expenses, schedules, invoices, products, supplies and even inventory. All of the software runs on and shares data between most computers including Windows 95/98/2000/ME/NT/XP, Macintosh OS7.5 – OSX, and many UNIX systems.

Small Business Tracker Deluxe includes: Activity & Expense Tracker – A personalized time management tool; Invoice Tracker – Details how much is still owed and by whom; Password Tracker – Collects all your valuable passwords in one easy-to-access place; Contact Tracker – Electronic rolodex makes contacting clients easy; Schedule Tracker – Appointment tool creates printable schedules; Task Tracker – A handy To Do list generator; Vehicle Expense Tracker – Mileage & expense tracking features allow users to easily & accurately record data for tax purposes; Version Tracker – Keeps track of changes between document versions; Writer’s Helper – Quickly creates drafts of letters, articles, etc.; Inventory Tracker – Records purchases and sales and generates detailed reports; and the Universal Calculator – Computes numbers, dates, times, measurements & currency conversions.

The product line now includes: Activity & Expense Tracker for Workgroups, Activity & Expense Tracker Plus, Inventory Tracker Plus and Small Business Tracker, which each contain selected components of the Small Business Tracker Deluxe package.

New features include: Rounded Appearance – Windows and Mac users now have the option to choose an appealing rounded button look and feel; Import and export options for a number of popular programs including Outlook, QuickBooks, and the Palm Desktop application; Reports can be printed or exported to other programs with ease; Mac OSX versions and Aqua-like appearance of each software package; Invoiced and paid checkboxes in A&E Tracker help determine what activities have yet to be billed for or collected on; Updated options allow users to modify date, time, and distance formats as well as change monetary symbols; Updated Keyboard shortcuts to allow more reliable cut, copy & paste; More control over report and invoice output; Better integration between modules; Vehicle Expense Tracker now has Fuel Stop fields that keep track of miles, the amount purchased and calculates fuel efficiency; and Easier download and installation.

To download a FREE TRIAL VERSION, screens shots and more information go to http://productivity-software.com/sbtracker/index.html

Author: Anonymous
Source: free-articles

More and more enterprises and shops integrate RFID into the inventory tracking system, as the high ROI of RFID in the inventory mangement. DAILY RFID has recently unveiled HF fixed RFID Reader DL810, specailly designed for inventory tracking.  To take inventory, this HF fixed RFID reader is ideal for inventory tracking. The fixed RFID Reader DL810 uses an advanced anti-collision algorithm to enable entire trays of tagged items to be simultaneously scanned into RFID inventory tracking system, even when stacked in pile.  In addition to the fast read rate up to 50pcs per second, this fixed RFID reader provides long read range up to 60-90cm. This HF reader can help to improve efficiency of inventory management and reduce labor costs, with no time-consuming manual processes required.  You can accurately identify inventory throughout your storage, handling and distribution processes, while equipped with DAILY’s HF Antenna DL810. This integrated RFID devices DL810 have been successfully used in inventory management applications such as jewelry management, library management system.  Please visit http://www.rfid-in-china.com/products_701_1.html for more infomation about HF RFID Reader for inventory tracking.  About DAILY RFID CO.,LIMITED  DAILY RFID CO.,LIMITED( http://www.rfid-in-china.com ), which belongs to PAN Group Co., ltd, is the leading company focusing on the research and development of EPC & RFID technology in China.  DAILY RFID specialize in producing arguably the world’s most extensive line of RFID Tag,RFID Label,Smart Card and Reader, which are suitable for any vertical markets, and have obtained the National Integrated Circuit Card Register Certificate,IC Card Manufacture License and ISO9001 Quality Management System Certification. Also, we own a factory covering an area of 26,000 square meters.  We are commited to providing “Innovative Technology”, ” Superior, Cost-efficient Product” and ” Professional, Efficient Customer Services”. Â

Author: jackpan
Source: articlesbase.com

Most people think that when you purchased cheap electronics you are buying low quality products. But the fact is, this is just a common misconception. There are so many well-known warehouses of electronics having messy piles of their electronic stocks. These electronic business companies are finding new strategies in order to liquidate their inventories. Thanks to the great innovation of the internet, these companies can simply distribute their electronic products to many different selling websites.

These websites sold these electronics with discounts in order to attract more potential customers. This simply means that electronic discounts have great qualities since they are made by famous electronic companies having great reputations. This is one of the great benefits people get when they purchased discount products but most shoppers do not know about this. Since companies want to protect their good name and the welfare of their business, they usually use two great methods to clear up all their stocks. These companies usually deface their labels and send them to discounter websites. That is why when customers will get to know this information surely they will be very interested with such great benefit.

In addition to this advantage, when you buy electronics discount you will surely save a lot to your of your budget. The money you spend gain more benefits since what you have purchased is a very good quality. Even though these companies only earn a little less but still they can generate more income thanks to the money they can save. They can save since they no longer need to have or rent a warehouse where these companies will stock their inventories.

Other than that, they no longer need to hire someone to secure their stocks. This is simply why these companies can afford to sell their electronic products at an affordable price. In addition to that, these companies enjoy the efficiency and the smooth flow of transactions when using the online system of doing business. The internet greatly contributed with these advantages. Plus, the strategies these electronic companies used to increase the rate of the every transaction of their products greatly benefited their customers.

Author: Joy Marion Callaway
Source: ezinearticles.com

‘Audit’ is a word which sounds familiar to most of working professionals. You may not be aware of the process (unless you are directly involved in it), but you may feel its importance.

You need not wait for formal audit to be conducted in your organization. The basic concepts are simple and can be effectively employed by anyone for his area of work. You can conduct audit of your own work as an individual or work of your department / work unit if you are the in-charge.

Given below are the simple steps to conduct this exercise -

Choose auditor -The best auditor for your work is none other than you. If you are not comfortable with the idea, you can request one of your friends, relatives or co workers to act as auditor.
Time for audit- Choose a time when you are free from your routine duties and worries. It is better to opt for a holiday.
Choose audit period- select a period of activities for which you will perform audit. It may be one week, one month, one year or more as per your convenience.
Documents for audit -List all the documents which are prepared or controlled by you. Also list the documents where your duties are defined or instructions are given to you for your job. Take out and display in order all these documents of audit period.
Audit- If audit is being done by someone who is not conversant with the work or documents make him understand first. Now the auditor has to check all entries in the documents with a critical eye to see -
The conformity with the instructions/rules available
Mathematical mistakes
Incomplete or not properly linked entries
Audit report- Prepare the findings of auditor category wise. The discrepancies should be highlighted. An analysis of probable cause of discrepancies should be done and remedial actions should be suggested so that these mistakes can be avoided in future.
Using the audit report- Audit is not a mere fault finding exercise. It is a periodic check to assess the working and plug the loopholes if available in the system to keep it healthy. The finding of audit should be honored and appropriate steps should be taken.

Does that sound too theoretical?

Well, this technique is used at many places and known as internal audit or pre audit check.

Author: Deepak Dixit
Source: ezinearticles.com

One of the single most crucial things that you should and can do before you go get a large mortgage to buy your dream house is to examine where you are spending your money and what you are spending it on. Completing these simple financial calisthenics will allow you to see what portion of your present income you are saving and which portion you are able and willing to spend on a mortgage. Having a good handle on your current financial situations enables you to understand how a given home purchase will perfectly match within your budget or simply destroy it.

Examine your spending data starting with no less than a three month period to determine your spending within a typical month on all kinds of things – such as clothing, income taxes, rent, haircuts, and other items. If your spending fluctuates significantly throughout the year, you should analyze and average for six (or even twelve) months to get a good sense of your spending patterns.

Personal finance software such as Microsoft Money and Quicken, can help with the task of analyzing and tracking your spending, but ordinary paper and pencil work perfectly too. What you have to do is assemble details that show what you usually spend your money on. Examine your job pay stub, credit-card statements, banking and online bill payment summary, checkbook register, and your most recent tax returns. You may even want to keep track of your cash purchases for a month just so you can get a better idea of your “undocumented” expenses.

Whether you use basic paper and pencil, or sophisticated software, it is important that you identify the majority of your expenses. You need not account for every last dime of your expenses, but the more you account for the better. The goal here is not to perform an exhaustive corporate audit, rather you need to prepare yourself for a significant change to your financial situation. As you gather the spending data and analyze your daily transactions, consider how each transaction will be altered by making a housing change. For example, as a homeowner, you may live closer or farther away from your workplace than you do in your current residence. How much will your transportation costs change? Also estimate home-ownership costs, such as maintenance, insurance, property taxes, and the like.

The idea is to inform yourself. The more informed you are, the more likely you are to make a sound financial decision with regards to buying a house. Just because you qualify for a large mortgage does not mean you will live comfortably with it. Look at your expenses and determine whether your monthly discretionary expenses are something you are willing to alter.

Author: Kirby Cranson
Source: ezinearticles.com

Audit Insulation to Lower Utility Bills

Every household faces the same big headache every month. This is when the mail arrives with bills from various utility companies. Utility bills are no joke. They add up to a hefty amount of money and it can consume a big bulk of your monthly budget. Learning strategies to lower utility bills is an important consideration.
Many ways to lower your monthly utility bells have been identified.
All that is needed is time to inspect the entire house and see what options you have. Audit your household on a regular basis and pay particular attention to the insulation. Know what changes that can be made to make energy use more efficient. This can be of big significance to your family in the future.

Audit Insulation

Auditing your insulation will require proper evaluation of the different factors in your household that contribute to energy use. This type of audit focuses on areas where use of insulation isn’t that urgent. Knowing what these areas are will help you effectively determine how to maximize their use with the least amount of energy needed. This means being more efficient in your energy consumption so that money won’t be wasted. Thus, never underestimate the task of auditing your insulation system.

Windows and Doors

The windows and doors are areas that need to be double checked for leaks. Your heating or cooling system will use more energy if these areas are a problem . Be sure that your doors and windows are energy efficient. This can be checked by feeling the temperature in the areas outside the doors and windows. You can also hire a contractor to conduct tests for other possible areas of leaks. Areas such as the basement and crawlspaces must also be taken into consideration.

Attics

The attic is the one single factor that can make a significant difference in your heating and cooling bills. Attics need vents to maintain good air circulation. You shouldn’t need to add insulation there if the circulation is good enough. Be sure that there are no holes in the ceiling where air can escape from the attic. Sealing those holes reduce your energy consumption significantly.

By adding an additional layer of insulation, you can greatly increase the R factor in the home. Should you use fiberglass or foam? Either may be a good investment for your home, but these are questions best left to the professional.

Fireplaces

The fireplace is common in many houses. However, they can pose heat loss problems, especially when not in use. The fireplace can continue to direct out the heat, and if it does, then your heating system will require more energy in order to sustain the requirements of the household. A fireplace can also contribute to loss of air conditioning. To help lower the utility bill, just take the proper measures. Be sure that your flue is properly closed when not in use. When this is left open, the heat and air conditioning in your house will leak out.

Audit Insulation Needs

It is to your advantage to get a proper audit of the insulation system in your household. This is your key to saving money by lowering your monthly utility bills. This will assure that you won’t waste the heating or cooling system that you’ve installed in your house. This is also very crucial in maintaining the comfort level of everyone in the family.

One option that you have is to purchase insulation products. This is one thing that you can do to make sure that critical areas in your house won’t be subject to heat or air loss. These products can be readily purchased and used to seal areas where the air or heat is likely to escape.

You also have the option of calling a professional insulation contractor to check your home. These professionals can help solve any problems that might threaten your house. They can also give advice on how much insulation you would need to lower your energy bills.

Don’t delay an audit of the insulation in your household. Make this task a priority if you want to save energy and money. The audit may discover problems you did not know about and you may discover that you need to do more. Securing the proper insulation of the areas in the house is just one more effective way to lower your utility bills and save more for your family.

Author: Beverly Saltonstall
Source: isnare.com

According to KPMG โ€œThe most significant benefit to optimizing a cataloging system is not the reduction in operating expense, but the optimization and reduction in inventory investmentโ€. In a study on Inventory Rationalization KPMG provided two examples that demonstrate an average 17% reduction in inventory value as a result of developing and implementing a standard description system to eliminate duplicate items. These savings are available to both large and small companies.

The issue today is that many organizations lack a clear understanding of what they actually have in inventory. Inventory management systems most commonly track the quantity, the cost, the supplier and perhaps a manufacturer or supplier part number but not actually what the item is beyond a short cryptic description. For example, without a structured item description it is possible to be overstocked in drywall and placing orders for plasterboard and sheet rock.

Identifying duplicates in an inventory of as few as 100,000 items can take over 100 man months and cost up to $500,000. In the examples provided by KPMG, the average cost to identify a single line item was $9.50 with projects taking close to two years to complete.

The major opportunity in Inventory Rationalizations projects comes from a detailed understanding of the fit, form and function of items of supply and this is the purpose of the eOTD. The eOTD combines the expertise and work of the members of a leading non-profit association focused on building open standards for content and is based on the Federal Catalog System taxonomy. This taxonomy which was initially developed at the end of WWII and redefined by the 1952 Defense Cataloging and Standardization Act (Public Law 82- 436) that mandated a single Federal supply cataloging system. It represents over 5,000 man-years invested in cataloging and is used today in over 50 countries to manage over 16 million item specifications referenced by globally unique National/NATO Stock Numbers (NSN). It is this work that is at the heart of the eOTD.

Commenting on the eOTD, Peter Benson, Chief Technical Officer of ECCMA, stated, โ€œThe Defense Logistics Information Service (DLIS) has one of the most experienced cataloging teams ever assembled, and their expertise has contributed greatly toward achieving an open standard descriptive language that can be used to improve inventory management in both the public and private sector.โ€

Editors Notes:

ECCMA (Electronic Commerce Code Management Association) is a not for profit membership organization focused on the development and management of Open Standards for Content Management. www.eccma.org

Media contact: Todd Graff, (610) 861-5990 Todd.Graff@Eccma.org

DLIS (Defense Logistic Information Service), a major field activity of the Defense Logistics Agency, creates, obtains, manages and integrates logistics data from a variety of sources for dissemination as user-friendly information to Department of Defense, Federal and international logisticians www.dlis.dla.mil.

Media contact: Mr. Tim Hoyle, (269) 961-7019

Author: Anonymous
Source: free-articles

To fully appreciate the benefits of patient relationship management techniques you need to understand what patient relationship management is. Patient relationship management is an approach that seeks to improve the quality of service provided to patients and patient perception of the quality of the practice and the attention the practice gives to patients.

What are the benefits of patient relationship management? Some of the benefits include:

· Increased likelihood that patients will refer on-patients to the practice. “Word of mouth” marketing is one of the least costly and most effective forms of marketing. In addition, referrals are the lifeblood of any practice. If one considers the lifetime value of a patient, even a small increase in the number of patients referred to a practice can have a substantial impact on patient profitability.

· Improved compliance with prescribed treatment. A patient who has a positive view/opinion of a chiropractor is more likely to follow that chiropractors advice. Improved compliance means better health for patients and a more positive view of the practice.

· A happier staff. If patients have a positive view of the practice and communicate that directly or indirectly to your staff, the staff will enjoy working in your practice more.

· Improved patient retention. If patients have a higher opinion/better relationship with your practice, they will be less likely to seek another health professional for treatment. The value of improved retention is substantial and can have a substantial impact on practice profitability.

What are some examples of patient relationship opportunities?

· Periodically provide follow up surveys to your patients to get feedback about your practice. Surveys could include such questions as:

- How satisfied are you with the quality of treatment and service provided to you?

- In what areas do you feel we could improve the quality of service provided?

- Would you be willing to recommend our practice to others you know?

· Offer free educational events to current patients and potential patients. These educational opportunities can often distinguish you from other chiropractors in your areas

· Once a year, have a patient appreciation night. Invite all your patients to an event such as a dinner. Few chiropractic offices do this. Again, it will make your practice stand out from others.

When purchasing chiropractic practice management and billing software, it is important to make sure that the software provides robust support for patient relationship management. Here are some examples of features you should look for:

· Capability to trigger events and/or reminders for communications with patients. One example would be the production of a postcard reminding a patient of an upcoming appointment

· Complete patient information that can be used from a customer relationship management perspective. Such information could include, but not be limited to mailing address, what promoted the patient to contact your office, and names of family members requiring treatment.

Mastering proven patient relationship management techniques and making sure any chiropractic practice management and billing system fully supports relationship management will benefit your practice in many ways including faster practice growth and improved profitability.

Author: Frank Gordon
Source: ezinearticles.com