Getting critical management information to key team members in a timely and useful format is a primary function of an accounting system. That’s one of the reasons that there are so many different solutions, each tailored to a specific industry. With all the changes in technology in recent years, what are some of the key problems that your accounting system should be solving?
INTERAC Solutions to common problems
Automating the payroll process for employees who don’t use traditional bank accounts through ePayCard services. From the Payroll perspective, it works just like direct deposit. Employees have instant access to their money and all the advantages and convenience of a debit card. It doesn’t require them to have a checking account, or pay the fees of a check cashing service. For the employer, the savings in time and distribution expenses can be significant.
Simplify the management and payment of payroll taxes, garnishments, and child care deductions that are required when you have employees. The Payroll Deduction Management System, which is part of the INTERAC Payroll suite, automates this whole process. It accumulates the deductions from each employee and sends them to the appropriate vendors in Accounts Payable, allowing you to easily disburse the funds as part of your regular accounts payable check writing process.
Eliminate check fraud by utilizing Positive Pay with your bank. Most banks offer this service which allows you to upload the check information for each check run directly to your bank. This allows them to verify checks as they are processed, assuring that they are being paid to the correct payee, and for the appropriate amount. It only takes one experience with check fraud to appreciate the value of Positive Pay account reconcilement.
Utilize the electronic Document Management System to provide instant access to all sorts of important documentation which is linked to the appropriate records in the system. This makes it easy to find the appropriate documents when you need them, and they can be made available to remote workers. Not only will you save time filing, refiling, and searching for documents, you can eliminate the costs associated with maintaining the cabinets and rooms full of paper archives.
For the construction trades getting timely Job Cost information to the key project management personnel is critical. INTERAC Job Manager puts all that information only a few mouse clicks away with easy access to all the information and documentation, so management can make informed decisions along the way.
An accounting system should make it easy for management to extract the information they need to make informed decisions. With solutions like INTERAC Report Manager, each user gets their own customized library of reports which they can execute on demand. This puts all the management data they need only a few mouse clicks away. There is no need to interrupt someone in accounting to get the information.
These are just a few of the things to consider. If your system is part of the problem and not the solution, give us a call.