2008 December Edition

A Message from Doris:

Wow, it’s year end again....! As I get older it seems year end is always around the corner and comes once a week. 2008 stands on its own as a business roller coaster for some of us. Not that we want to wish it away, but I suspect many will not miss 2008.

Despite all the scary news headlines (terrorism, credit crunch and health crisis) there have been some very exciting things that have been going on at DMC and with our clients. It’s important to remain positive and move forward in respect to our businesses. Let's stay far from the gloom and doom band wagon and talk about those things that are working well and bring hope for an excellent 2009.

Great news in the arena of accounting products: With the onset of certain accounting companies announcing the end of their legacy products life cycle, the market has been opened for new accounting software for the first time in many years. A few smart developers seized this opportunity and aimed their products toward ease of use and stronger reporting. Additionally, some chose to solve for web and remote access without having to maintain web server technology. Simplicity and cost effectiveness are what clients want.

For example, in Ajera Portfolio there are a bunch of things that we've seen done simpler for AE Firms without driving cost through the roof.

* Reporting in SQL views; this sounds complex but it’s not, it means it acts and looks like excel, thus you don't really ever need excel.
* Reporting in SQL views is faster, way faster and flexible to add columns and mathematics without being a programmer.
* Applying an overpayment is easier.
* Refunding an overpayment simpler (not multi-step).
* Credit card tracking (I don't know too many firms that don't struggle with this).
* Tracking consultants on Fee jobs through billing.
* Sorting and customizing the look of your screens simpler.
* Editing, writing, voiding vouchers and checks simpler.
* Viewing and approving timesheets/expense reports by project better interface.
* You don't need a web server to have remote access to the web.
* Real time entry while keeping good accounting control and security without complexity.

So what's new for 2009? We believe clients are looking to adapt better ways for 2009 and that may mean changing software, working with new, more modern solutions. DMC is communicating and working with new ideas and solutions that follow that philosophy.

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Axium Portfolio - Some Observations From the Field. By Catherine Chubbuck of DMC Systems Group

Some months ago in September 2007, we introduced the Ajera Portfolio at one of our DMC sponsored events to many of you. Since then, we have had the opportunity to work with this software and its developers. Now that we have fully implemented and trained our staff on this software, we feel that this is indeed a satisfactory solution for the smaller client who wants an economical solution to their accounting system. To assist you in your decision making, we have listed below some of the strengths we feel you will find in this software.

1. The software is competitively priced. Specifically, the entire product is bundled and essentially not sold in many modules. Time and Expense and Planning are part of Ajera Portfolio.
2. You will get good quality for your money.
3. Installation and configuration is relatively simple. A single CD is supplied and installs in short time. The workstations are as simple.
4. Fully integrated General Ledger with job cost.
5. Entering opening balances and history is logical for the most part.
6. User friendly for all, no matter what skill level you are on. For instance, simple to apply retainers, handle credit cards, apply retainers to invoices, approve timesheets, view timesheets by projects.
7. Learning curve is slight, very straightforward.
8. Ajera features a “Real time” look at projects and invoices, while retaining good accounting period control.
9. Invoicing can be processed prior to posting of timesheets, thereby speeding up your cash flow.
10. Your company logo can be easily inserted into your Invoices and reports.
11. Good security, able to set up user rights for each group of employees.
12. Fully integrated payroll including direct deposit.
13. Vendor processing is simple, with the ability to segregate and report separately on consultants.
14. Cutting checks is a piece of cake.
15. Built in Project management reports including graphs are available for all project managers.
16. Simple to set up ACH payments for your vendors or consultants.
17. The software comes with standard accounting reports built in.
18. There is also an “Inquiry” tool feature with which you can write your own reports with ease.
19. Very simple to sort all reports by Project Manager. Simple easy to learn report inquiry, no need to be a programmer to build a report that looks like and exports to excel.
20. Backup utility included in each package that is simple to run.

Remember us if and when you want to hear more about this product, or would like some more information.

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10 Steps to Conversion Success. By Brian Siefkes (AXIUM)

We’ve all heard the horror stories of switching to a new accounting and project management software. Is all that pain and worry really necessary? Axium has spent much time speaking with clients, consultants and industry experts to devise a step-by-step process aimed at helping firms through their transition to Ajera/PORTFOLIO. By following these 10 steps, you can make certain that you know what to expect and how to avoid any pitfalls.

1. Plan ahead. There are no push button conversions, they take time and effort no matter who you’re switching to. To be prepared you must consider the total time commitment for your conversion including getting your staff trained. Start the process when your financials will be up-to-date or your business usually slows down. You should also ensure that none of your key staff will be on vacation during your conversion. There’s nothing worse than trying to get important information from somebody drinking margaritas in Mexico.

2. Talk with a consultant. After the sales process, you will be introduced to a consultant for your implementation. Don’t move forward until you and your consultant know exactly what you need to do to complete your transition. A helpful tool is to write out your specific goals and cross each one off as they are accomplished.

“The Axium personnel and the consultant assigned to our conversion were very helpful and available. Axium trained our administrative staff on the software before the conversion and we spent the time to check all our data for accuracy. The conversion matched to the penny what we sent to Axium. Any questions we had were answered quickly and accurately. We were nervous about the switch, but Axium made it as painless as possible. There is always a learning curve with new software. We found this switch to have very few problems.” Jane Neal, Frank W. Neal & Assoc., Inc.

3. Thoroughly prep your data. Any errors or corrupt data will result in a longer conversion process and major headaches. Here you will need to reconcile your general ledger and your sub-ledgers for AR, AP, Cash, WIP and prepayments.

Use this opportunity to clean up the junk data you have in your database. The last thing you want to do is clutter your new software with old employees, vendors, or projects that should be closed.

4. Verify all of your active projects. Consultants sight this as a major drag on conversions. Active projects will transfer but many firms still have old projects or contracts that are open even though there are no billable services remaining. Those projects need to be closed and archived.

5. Post every account. You are now ready to send in all of your data for conversion so it’s important that you post all of your accounts. After you post, run a few reports so you have a copy of your balances on record. Suggested reports include: AR Aging, AP Aging, WIP Aging, Accrual Trial Balance, Cash Trial Balance, and Project Detail.

6. Learn the new software. Use your trial database to train staff on Ajera/PORTFOLIO. Make sure you cover all the training that is vital first, in case you exceed your consulting time.

7. Complete your training. Your new workflow processes with Ajera/PORTFOLIO may be different and take time to get used to. For instance Project Managers (PMs) are meant to be more involved than they are with legacy programs. That’s a scary thought for accountants and there’s usually resistance to allow PMs access to the system. One trick is to ease PMs into it by first setting up limited access, then gradually allow them to do more as they learn the proper procedures.

8. Verify the returned data. Use the reports you ran to make certain your returned totals match the totals you submitted. Take your time and review every section to avoid future issues and ensure your data is correct.

9. Keep your old software accessible. The amount of historical data transferred to Ajera/PORTFOLIO depends on your conversion level. You’ll need to have access to past projects and financials for audits or client issues that arise.

10. Take the Process Audit. With any new software there can be growing pains. Process Audit’s are designed to address problems you have after implementation. Issues usually stem from adjusting to new processes and as a result accounts can fall out of balance.

Keep in mind that with any conversion, you get out what you put in, so make sure you’re prepared when the time comes.

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