Individual rules can be crafted while still allowing for manual adjustments to the commission amount, bonuses and advances. The three main asset classes are equities or stocks, fixed income or bonds, and cash equivalents or money market instruments. Everything from keeping track of complex inventories, processing customer orders and managing payables, to providing sophisticated general ledger financial controls. Sales and purchase orders can be displayed in the currency in which they were written or in the base currency of your company. To help you get started, we compiled an assortment of basic financial terms and acronyms and created this simple accounting glossary for beginners. He is involved in the review of investment valuations and key assumptions used for budgeting and forecasting. Apply debit memos and prepayments to payables as they are approved for payment. Convert return orders to debit memos. Clients have found that there is so much value in the services provided by the SMA that more the majority elect to stay on Software Maintenance. Journal entries will. Auto convert return orders to credit memos when they are received. Entering a finished good item number will automatically fill in the configuration choices that are associated with that finished good. 5 Rock-Solid Reasons to Major in Accounting, Connect with Rasmussen University on Facebook, Connect with Rasmussen University on Instagram, Connect with Rasmussen University on LinkedIn, Connect with Rasmussen University on Pinterest, Connect with Rasmussen University on Twitter, Connect with Rasmussen University on Youtube, Human Resources and Organizational Leadership, Information Technology Project Management, Transfer Credit & Other Knowledge Credit, See an example of the time value of money here, Your Step-by-Step Guide on How to Become an Accountant, Letter from the Senior Vice President and Provost, Financial Aid and FAFSA (for those who qualify). This is combined with setting baseline amounts, goals, and cap amounts. Rasmussen University is accredited by the Higher Learning Commission, an institutional accreditation agency recognized by the U.S. Department of Education. Please select another program or contact an Admissions Advisor (877.530.9600) for help. Out in a cornfield, roughly 50 miles from Pennsylvania's Lehigh Valley, is a company you just may want to keep your eye on.TIW Technology, or Technology for the Industrial Workplace, is aptly named for its roots in manufacturing, and the story of how it forayed into the accounting software space and created Alere Business Applications reflects the company's mission to create products in . Each column is a field, function or a user-definable field in the table. Journal entries are flexible and allow the addition of notes for detailed documentation. Each line item has a Need By date for receiving and material planning. Separate rates for selling and buying are supported to provide flexibility for your buying and selling functions. ALERE User eNotes - April 2020 Quickly find all companies within a given radius of a zip code with a Proximity Locator. Shipped multiple times and summarized on one invoice, Establish special prices for a customer, groups of customers or all customers, Establish special prices for an item, groups of items, all items, product classes, or miscellaneous codes, Establish special prices for a specific location or all locations, Use six tiers of discounts based on the quantity purchased or the extended price, Calculate each tier based on a discount %, a flat discount amount, a unit price, a flat cost markup amount, a cost markup %, a gross margin, or % of standard price, Allow you to mix and match any of the above rules, Allow whole order discounts to be applied to orders over and above the discounts on individual line items, The reconstruction of past data based on an, Ordering by customer, sales person or amount due, Use either Open Order or Balance Forward methods, Be run for any range of dates to facilitate monthly, quarterly or other statement periods, Support up to four user-definable intervals, Be printed for zero balances, outstanding balances, or past due balances. Rasmussen University may not prepare students for all positions featured within this content. Convert quotes, blanket, and recurring orders to sales orders or directly to invoices. Reopen closed periods or fiscal years. We had a few specialized features that were essential and most of the providers told us they could not meet that need. R - Revenue. Rasmussen University does not guarantee, approve, control, or specifically endorse the information or products available on websites linked to, and is not endorsed by website owners, authors and/or organizations referenced. The discrete manufacturer will find a wealth of tools to help control production including transaction-based work orders; routing; costing; BOMs consisting of Component, Modular, Variable, Phantom, and Kits all supporting 25 indented levels; and finite forward/backward scheduling! PROS Fixed commissions can be generated based on the achievement of sales goal such as revenue, margin, or quantity of items sold. Receive purchases from a supplier location that is different from the Remit To address. ALERE was first released in 1990 as a manufacturing package. Use InTouch to write quotes for prospects and smoothly turn them into orders. Generally accepted accounting principles (GAAP) definition:A set ofrules and guidelinesdeveloped by the accounting industry for companies to follow when reporting financial data. The full range of sales, receivables, purchases, payables, inventory and general ledger is exquisitely incorporated. There are six different ways of formatting the configuration information on a printed order as. Rasmussen University is not enrolling students in your state at this time. Approve and make payments by company and location. Orders may be received one at a time or mass received. For example, enter a customers PO number and click on Order by Customer PO to find the matching sales order. The documents that can be processed using a foreign currency include sales orders, invoices, purchase orders, and payables. View anticipated inventory movement on the Future Activity screen with drill down to the documents that will generate the activity. Any number of currencies can be defined and all transactions are recorded in relationship to the base currency. Warranty, testing activities, and recurring work under service plans are all supported. For example, creating a list of all transactions that were paid to a utility company. Start an internal requisition order with a list of items to be purchased and send that request to the purchasing department. At key points in the sales and purchasing processes, emails can be auto-generated and a PDF of the accompanying document attached and sent based on a set of user defined rules. Mass receive purchase orders, transfer orders and sales returns. What Is Forensic Accounting? Orders for kits that do not require features and options to be selected are taken without ever seeing the configuration screen. Individual GL accounts can be marked inactive to prevent journal entries being made against them. The time during which prior period postings can be accepted before a password is required can be set from 0 to 999 days. Advanced bucketless or bucketed MRP with push/pull is supported. Thousands of businesses have come to rely on ERP, accounting, CRM, manufacturing, data acquisition, and mobility solutions from TIW Technology. During the receiving process, item numbers may be optionally displayed as either your item number or the suppliers item number. 30 Basic Accounting Terms, Acronyms and Abbreviations Students Should In addition, TIW Development will provide fixed price quotes for companies that would prefer that the Factory perform the modification work. Track issues, shipments, receipts, and adjustments on the Activity tab. Talk with an admissions advisor today. Orders without activity may be voided. InTouch maintains two-way links with Microsoft Outlook, providing centralized connectivity for appointments, tasks, and emails sent or recorded in either product. That alone can save a company tens of thousands of dollars each year. Sales order configuration is integrated into the order entry process. The Income Statement (referred to above as the P&L) and the Balance Sheet. It has since been updated. Making and receiving payments using a foreign currency is supported. 769 Youngs Hill RoadEaston, PA 18040, Contacts Purchase orders and payables can be saved in a Pending state and later completed and released. Language Sets Language sets allow you to customize menus, screens and even have different languages on a user-by-user basis. Auto number orders or enter them manually. Create or edit a quote, purchase order, return order, or a recurring order from one screen. Companies and prospects are maintained in separate files, making it easier to manage email and direct mail marketing campaigns. New items added to inventory can optionally be established for one or for all locations. Use smart phone apps to access customer information or create your own! Massive batch transactions that risk network integrity and cripple multi-user speed are eliminated. All the features and options and how they are related can be viewed at a glance. More info, By Callie Malvik Sales documents can be saved in pending status for later release, saving hours of re-entry time and making the entire sales process more efficient and flexible. Everything from keeping track of complex inventories, processing customer orders and managing payables, to providing sophisticated general ledger financial controls. 06.27.2022. I value the development tools and the ability to customize reports, menus, screens and code. While the Dynamic type conversion frequently requires expert intervention, it nevertheless can handle 80% or better of the upgrade. Selecting from the list enters the choice. Assign each order type (sales orders, invoices, purchase order, return orders, etc.) The SOC (Sales Order Configurator) screen, where the features and options for an item are shown, is automatically displayed when an item number that can be configured is entered. Pinpoint your companys critical geographic hot spots with a Location of Sales report. When using thedouble-entry accounting methodthere will be two recorded entries for every transaction: A credit and a debit. Prospects may have any number of quotes submitted, with both prospects and quotes easily converted to company status when purchases are confirmed. What platform does ALERE use? Balance checking accounts and find errors with a practical bank reconciliation process. the release of ALERE Accounting v7.0 as the latest addition to the ALERE Business. Accept and print orders from the entry screen. So, the user interface is rich and powerful, and all modules utilize that same interface. Publish and maintain information in the Cloud for apps on smart phones and to support your company's Enterprise Content Management objectives. An example of a long-term liability would be a multi-year mortgage for office space. Save time when entering new inventory items by copying the settings from another item. The Service product is eminently suitable for everything from industrial services, conditional inspections and reporting, through event planning, The product will handle the generation, scheduling and execution of all types of service work. The parts of ALERE software that we like most are: the traceability between transactions, product costing and the ability to integrate ALERE with other software we use. The ROI is calculated by dividing the net profit by the cost of the investment. Fetch is independent of the program modules, so it can be left open on the screen for immediate access. Email, view or print orders. Are there SBT Pro and VisionPoint Conversions. Set Bill To, Ship To, Remit To, or PO To options for each company location. A history screen provides an overview of how currency buy and sell rates change over time.Details & Features (372kb), The Mobility module manages interfacing ALERE with mobile devices through the Cloud. Special general ledger accounts are used to post variances due to currency fluctuations when making purchases or sales. Activities like processing a prepayment or handling a return are done quickly, logically and with a minimum number of steps. Establish an unlimited number of tax rates for federal, state, county, city, and local sales taxes. An owners equity is typically explained in terms of the percentage of stock a person has ownership interest in the company. Return on investment (ROI) definition:A measure used to evaluate the financial performance relative to the amount of money that was invested. Acronym Definition; ALORE: Asset, Liability, Owner's Equity, Revenue, Expense (general ledger accounting) The choice of a Mens bike provides the second level choices - Mountain or Street. Accounting (ACCG) definition: A systematic way of recording and reporting financial transactions for a business or organization. Specify the location to ship from by line item. Filters allow the list of orders to be narrowed and the list of orders may be sorted by value or customer. Pricing rules can be sequenced so as to provide unlimited pricing tiers. Return orders place the items on order in inventory and can be shown separately when doing mass receiving. The Language Settings feature permits menus, screens, and even different languages to be customized on a user by user basis. Best Pharmaceutical Distribution Software, Automatic period closings can save a company thousands of dollars each year in lost time, A real time general ledger allows financial reports to be printed anytime for critical period-to-date or year-to-date information, Most modifications are more quickly and easily done than older source code-only methods, Modifications are portable from one version to another, which saves a company from the expensive and risky process of rewriting code, Screen and report defaults are readily changed and can be set up by user, Sales, invoices, cash receipts, purchases, payables, and inventory are always current as of the last transaction, Account balances, profitability and cash flow information are always available. There is support for a multi-tier split commission structure which permits manager commissions to be based on the sales of subordinates. An on-premise discrete manufacturing ERP software from FUJITSU. The Analytics module then examines five key areas of this data: customers, suppliers, inventory, general ledger, and lot/serial traceability. Simply enter what you are searching for and click the matching link on the list. Custom general ledger account rules can be tested on a special Inquiry Tab. A GL Posting tab on each order displays in real time the general ledger postings generated by the order. Assets (fixed and current) (FA, CA) The initial and ongoing costs for ALERE are surprising affordable and well within the budget for even small operations. In this episode, we briefly discuss each type of account in accounting: Assets, Liabilities, Equity, Revenue, and Expenses. on the screens. ERP software to support your company's growthAccounting - CRM - Manufacturing - Service - Mobility - Analytics - Document Management - Data Acquisition. in return for goods and/or services they have delivered. The result is often expressed as a percentage. The ALERE manual is written in HTML, has both field level and video support, and is accessible to every user by clicking on the "?" An Honest Answer. All done in real-time. ALERE features unrivaled manufacturing, inventory management, and accounting toolsets, backed by a robust reporting engine, allowing the system to be readily . Kalie Debelak | MDI (Multiple Document Interface) --MDI allows multiple screens and modules to be open at the same time. For example, a contractor that must be present to accept delivery. Each line on a requisition can be released to a different supplier as a separate order. Group together multiple payments to one supplier on one check or they may be individually selected and printed on a separate check. Diversification definition:The process of allocating or spreading capital investments into varied assets to avoid over-exposure to risk. When a user logs in they can have, Activity Tabs Most screens that have processes in ALERE have an Activity tab. Distribute the GL effects of an inventory adjustment over a range of accounts.