20 September 2018

Change In 1099 Reporting Within Netsuite, And Its Effects On Your Business!

PURPOSE OF 1099 REPORTING

In general, payments made to non-employees/independent contractors in excess of $600 within a calendar year must be reported to the IRS. This is done by filing a 1099-MISC form. If a business needs to file more than 250 forms, they are required to electronically file with the IRS. Depending on the state in which the work was performed, separate filing could also be required at the state level.

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6 September 2018

Life After Your ERP Implementation

 

It’s less costly to properly maintain the ERP system that you have, than to get to a point where you have to start again.

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23 August 2018

Is Your Business Prepared for ASC 606/IFRS 15?

Large public companies, most notably Verizon and Workday, have been preparing for what has been considered one of the most historic accounting changes to hit the market in decades (Forbes), ASC 606/IFRS 15. Verizon has been preparing for this transition over the last 3 years. Workday has a dedicated team of accountants reviewing all their contracts and making adjustments to their financial statements.

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8 August 2018

A Guide to Selecting a NetSuite Implementation Partner

Photo credit:  Pexels

A good Barbershop/stylist is something everyone needs - with SO MUCH choice you'd think that it's easy to find a solid performer, yet so few are able to actually perform the art of styling hair the way you want it. You find yourself driving across town to your favourite stylist that knows the craft and your preferences well, they also know your birthday, give you coffee while you wait and have beyond belief customer service. Yes - I just compared a NetSuite Consulting Shop to a Barbershop, simply because the barrier to entry is equally low, the market is packed with "experts" and it's also packed with equally pissed off clients that are yet to find their ERP go-to barber.  So here's how you should strictly vet the right-fit ERP consulting shop to save money, jobs, increase adoption and have an awesome partner relationship.  Make sure:  

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2 August 2018

How Does ASC 606 / IFRS 15 impact NetSuite Customers?

With companies transitioning to ASC 606/IFRS 15 accounting standards, NetSuite will have to accommodate both the new and old accounting standards in the system for existing customers who are in the midst of transitioning. 

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17 July 2018

The Model of a Successful ERP Data Migration

"...ERP data quality was a contributing factor to the eventual bankruptcy of Target Canada." [1]

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