Revenue Recognition in QAD

Posted on: April 5, 2022 | By: David Kwo | QAD Financials

QAD's Revenue Recognition module is designed around the Accounting Standards Codification (ASC) 606, which is part of the Generally Accepted Accounting Principles, or GAAP, that public and private companies are required to use when recognizing revenue from contracts with customers. Users are able to configure their QAD system to automatically create revenue contracts and performance obligations from a sales order. Once configured, revenue recognition rules will default to each performance...


Can QAD’s Best Pricing handle complex pricing scenarios?

Posted on: March 31, 2022 | By: John Pletch | QAD Financials

QAD offers Best Pricing as part of the base Enterprise Resource Planning (ERP) software.  Many companies have complex pricing scenarios and sales management that would like the ability to quickly change strategy as the market requires.  Best Pricing can handle most pricing scenarios, and when properly implemented, can be changed updated or changed with minimal effort. The most important factor in successfully implementing Best Pricing is mapping out all pricing...


Efficient Tax Setup in QAD

Posted on: March 30, 2022 | By: Minela Covic | QAD Financials

This blog details the step-by-step process Logan Consulting went through when helping a Client set up taxes in their QAD system to address inefficiencies and errors in their preexisting method. Logan’s team set up taxes in QAD to automatically calculate Canadian taxes on Customer Invoices based on where the Customer is located. This Client had issues in the past when their current system did not calculate taxes properly and they...


Supplier Consignment in QAD’s Adaptive ERP

Posted on: March 11, 2022 | By: David Kwo | QAD Manufacturing, QAD Financials

Summary QAD provides out-of-the-box functionality to manage Supplier consignment inventory that integrates all aspects of the process including Purchase Orders, receiving, tracking consigned inventory, usage reporting, and deferred voucher and payment until usage. Supplier Consignment Setups The following setup is required when using the Supplier Consignment module 1. Enable the module through the Supplier Consignment Control file. You can also set the default settings for Consignment Orders, Aging Days, and...


Incoming Bank File Excel Integration in QAD

Posted on: March 9, 2022 | By: David Kwo | QAD Financials, QAD Business Process

QAD has elevated its cash settlement software to enable better integration with financial institutions. Leveraging the Incoming Bank File Excel Integration program allows users to access varying levels of integration to make their AR payment process more efficient. At a basic level, users can use the banking entry software to settle customer accounts by manually applying cash receipts in Banking Entry Create. However, QAD offers two additional levels of integration...


Automating Accounts Receivable in QAD 3

Posted on: February 21, 2022 | By: David Kwo | QAD Financials

Does your company currently allocate multiple employees to manually apply cash and ensure that invoices match orders, even when the majority of accounts are matched anyways? Logan Consulting can help companies save time and resources by automating this process so that manual cash application is only needed in the case of discrepancies. To automate payments, Logan creates an Excel file for clients to paste data into. The file is then...


Automating Accounts Receivable in QAD

Posted on: February 21, 2022 | By: David Kwo | QAD Financials

Does your company currently allocate multiple employees to manually apply cash and ensure that invoices match orders, even when the majority of accounts are matched anyways? Logan Consulting can help companies save time and resources by automating this process so that manual cash application is only needed in the case of discrepancies. To automate payments, Logan creates an Excel file for clients to paste data into. The file is then...


Automating Accounts Receivable in QAD 2

Posted on: February 21, 2022 | By: David Kwo | QAD Financials

Does your company currently allocate multiple employees to manually apply cash and ensure that invoices match orders, even when the majority of accounts are matched anyways? Logan Consulting can help companies save time and resources by automating this process so that manual cash application is only needed in the case of discrepancies. To automate payments, Logan creates an Excel file for clients to paste data into. The file is then...


Currency and Exchange Rate Capabilities in QAD

Posted on: February 18, 2022 | By: David Kwo | QAD Financials

QAD's currency and exchange rate-related capabilities allow users to define and track various types of relevant currencies and exchange rates, making it simpler to organize and complete cross-currency transactions, track and analyze realized gains and losses, and keep up with the frequency regulations of different entities. Defining Currencies Users can create currencies in the Currency Create tab, applying a currency code (an ISO standard code), short description, decimal description (cents,...


Linked Site Costing in QAD

Posted on: January 13, 2022 | By: David Kwo | QAD Financials, QAD Business Process

Linked-site costing lets you specify default cost source sites for items held at multiple sites in one database, which is especially useful when items are held in inventory or manufactured at one primary site, but are also held or manufactured at secondary sites. You can also assign different primary sites for different product lines, item types, or Purchase/Manufacture code designations. The use of linked-site costing reduces the number of item...