System wide data in QAD’s Enterprise Edition are data sets that cross domains within the database. These datasets include base level data as well as financial analysis data.

Multinational US based companies that desire to implement a global chart of accounts across their enterprise can now execute this requirement with QAD’s Enterprise Edition ERP software. The new financial software offers software functionality that provides for the sharing of data across the database.

Multinational companies are continuing to deploy common systems across their enterprise. A myriad of reasons including reduced support costs, lower audit costs and more timely information add to their return on investment.

Did you know that you can copy work centers into a Cost Simulation cost set in the Cost Management Menu? Why would you do this?   Generally, companies update their standard costs on an annual basis.   The cost components of a manufactured  item’s cost include:

·         The product structure.

·         The routing run time.

·         A subcontract cost for a routing operation.

·         Work center associated with a routing operation.

·         Work center rates for labor and burden.

Of all these components, work center rates will typically change year over year. These changes occur as a result of the direct labor resources associated with those work centers.   These direct labor employees will obtain raises, retire or new hires will start working in those work centers. Using cost simulation, you can begin changing your cost assumptions months before you need to deploy the new standards. 

You will be able to generally predict what next year’s labor cost will be.  ...

 

Closing your general ledger should be a seamless event lasting from 1 to 3 days in length. Assuming your company uses the operation modules of QAD, integration of those modules provide financial transactions to the general ledger for the following transactions:

 

·         Purchase order receipts including purchase price variance calculation from standard or average cost.

·         Voucher transactions including accounts payable price and quantity variances.

·         Sales Order shipments at standard or average cost.

·         Invoicing transactions for revenue and accounts receivable.

·         Manufacturing transactions including movement of inventory from the perpetual ledger to work in process and to the perpetual finished goods ledger including manufacturing rate and quantity variances for material, labor, burden and subcontract components of the manufactured parts costs. 

 

Typically, sub-ledgers that are not integrated include payroll and...

Managing costs has become an everyday occurrence for business managers.  This blog discusses cost associated with cash disbursement and cash receipts paid to your financial institutions. 

EFT’s come in a variety of different types. They include:

·         Cardholder-initiated transactions, where a cardholder makes use of a payment card

·         Direct deposit payroll payments for a business to its employees, possibly via a payroll services company

·         Direct debit payments, sometimes called electronic checks, for which a business debits the consumer's bank accounts for payment for goods or services

·         Electronic bill payment in online banking, which may be delivered by EFT or paper check

·         Transactions involving stored value of electronic money, possibly in a private currency

·         Wire transfer via an international banking network (generally carries a higher fee)

·         Electronic Benefit Transfer

Business to Business EFTs typically comes in two different types. These two types include Wire Transfers and ACH transfers. 

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Cash Flow Porjections require a view of the sources and uses of cash. In QAD's Enterprise Applications: Standard Edition, you can use the 31.8 Cash Flow Projection Report to give you good solid information. The report cash be run to display data in daily, weekly, and monthly buckets.