Technology in Practice

A critical part of managing risk within an organization is managing the credit available to customers. If you give a customer who may not be in the best financial position credit terms, or too much credit, you may have a hard time collecting what they owe. In addition, you do not want to provide a customer with more or less credit than they have been approved for, as this could trigger similar problems. You can monitor this process and prevent these situations with Sage X3 ERP credit limit and credit review capabilities. To ensure that Customer Credit Control Management is configured correctly and that the authorized limits do yield the correct results, the following setups are important to understand how Sage X3 checks the specified authorized credit limits and prevents possible anomalies or negative balances showing up in Customer Situation inquiries, etc. Folder Currency = RPTCUR: The X3 folder currency is configured at folder setup and is usually that of the “holding” or main system currency for all currency transactions that will occur in the folder and is also the currency against which currency conversions will occur in conjunction with other currency parameters. Bookmark Sage Support Resources today! Account Core Model Ledger Currency: The Account Core Model can contain several ledgers with variances in currency, specific to each ledger defined/specified. The Local/Legal ledger is the currency of the country in which the entity operates, which is in turn connected to (a) Chart(s) of Accounts and then further to a Company containing a Company Currency. For each ledger defined/specified in the Account Core Model, the amounts are made available in transaction currency and its countervalue, in the specified ledger keeping currency. When the Account Core Model is associated with a company, the accounting currency is derived from the currency in which the Main General (Legal) ledger of the core model is kept: Company Currency: The currency of the Legal Entity/Company is derived from the Account Core Model to which it has been linked. Accounting transactions/movements are recorded in this currency, and for transactions with a different currency, it uses the transaction currency and the reporting currency. Currency Rate Table – Utilized for API Feeds from Forex Websites into Sage X3: For the conversion between currency rates the Currency rate table is used to make the “real time” rate conversions for transactions in any currency other than the local “main” currency. This rate table must be maintained to ensure correct currency conversions. It is also the table used for the Customer Credit Management functionality to determine whether the credit limit has been reached or not. Bear in mind that the Customer Credit Limit must be set in accordance with the Folder and Account Core Model currency. Parameter Value: TC>CUR: Parameter – CURSHRFLD: This is the currency in which the amounts of the base accounting records (folder currency) are expressed. If the authorized credit control is carried out using the updated rate (in the currency rate table) and it is performed by Folder, then said control will be performed in the currency defined in the CURSHRFLD field. The CURSHRFLD parameter currency must match that of the Folder currency to ensure that credit limit authorizations are not incorrectly calculated, which may result in credit limits being displayed with negative balances or exceeding the actual credit limit if expressed in a different currency than that of the Folder. Even though a Customer may have a different currency than that of the Folder, the system will evaluate the authorized credit limit expressed in USD to determine if the limit is reached or not. For example: A BP Customer having a EUR currency is set up as such but their Authorized Credit Limit amount is not set in EUR but in USD (since my folder currency is USD). So, when I transact with this customer, the transaction date, the currency rate as specified in the currency rate table for the relevant date and the converted amount (between EUR and USD) is considered during the calculation performed by the system to determine whether the Authorized Credit Limit is reached or not and then to allow further transactions or not. Parameter – OSTTYPCUR: The OSTTYPCUR parameter, ‘Revised customer credit rate type’, is used to consider the Folder rate type to be used, i.e., daily, monthly, monthly average, etc. The authorized credit control amounts stored in transaction currency will then be converted to the folder currency based on the rate type selected with respect to the date of the day as explained above. Parameter – OSTCTL: This parameter specifies whether the authorized credit control for customers must be made by each company in turn or for all companies together (folder level). The list of possible values is: Folder, Company. • Folder: the credit control is carried out by comparing the folder credit (all companies) and the authorized credit for the customer. • Company: the credit control is carried out by comparing the company credit and the authorized credit for the customer. The above highlighted parameter value is set at that of the Folder. The meaning of this setting are as follows: When the control on credit is done at the ‘Folder’ level, the control is always applied based on the updated rate, regardless of the value of the OSTCHGTYP parameter – Rate origin WIP ctrl. parameter. When at Folder level the CURSHRFLD parameter is used and the credit amounts stored in transaction currency are then converted into the folder currency based on the rate type selected for the current date (currency rate table and date). When the control on credit is done at ‘Company’ level, the control/check is applied to the defined Company Currency. The specified OSTTYPCUR parameter rate type is used by the Company level control. The credit amounts stored in transaction currency are then converted into the Company currency based on the rate type (daily, monthly, etc.) selected for the current date. The WIP is controlled with respect to the risk BP of the customer. If the risk BP is shared by several customers, it means that the WIP of each customer will be controlled the same way with respect to the risk BP by cumulating the total of the different customers movements. When the customer is associated to a different risk BP, the amount of the authorized WIP cannot be accessed. It can be viewed on the risk BP record. The displayed WIP is that of the risk BP. BP Customer Authorized Credit Management Maximum credit amount authorized for this customer. It is used if the customer is declared as ‘Controlled’ in the WIP control field. This amount is expressed in the currency of: • The Folder when the control is at Folder level; (OSTCTL as shown above) • The currency of the default Common Data site of the user when the credit control applies at the Company level. The amounts are displayed in Folder currency if the user does not have a default site. For more information on Understanding Customer Credit Limits and Currency in Sage X3, please contact us.

Need help with your Sage X3 ERP software? Now you can find answers to your Sage X3 questions on the Sage X3 Support YouTube channel. The Sage X3 Support YouTube channel offers short how-to videos that help you with common Sage X3 functions. Need to know how to find out which version of Sage X3 you are using? No problem, there’s a video to show you how to do that. Need to know how to update an expired license? You’ll find a video for that as well. Currently, there are 13 how-to videos with more to come. It’s a great place to start when you need information. Bookmark Sage Support Resources today! Below is a video detailing how to set up and process inter-site transactions—just one of the topics covered on the playlist. Check out all the how-to videos here. .embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width: 100%; } .embed-container iframe, .embed-container object, .embed-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; } Need more information than the videos provide? Or need help with additional topics? Contact us. Our Sage X3 experts are happy to help answer your questions.

As the Covid-19 pandemic hit in March, Nice Link, a wholesale distributor of furniture began to see a slew of orders cancelled. Nice Link had projects underway to upgrade the backend software of his US based business. Quickbooks couldn’t handle the inventory, warehouses or manage the volume of digital sales orders Nice Link was anticipating. Yet, despite the uncertainty they pressed on. Acumatica, the Cloud ERP was well underway being implemented and would go live in June. Simultaneously, as the workplace shifted to a remote workforce, online furniture sales exploded. Today, we see the success that was Nice Link’s forward-thinking strategy and Acumatica’s tactical application – creating connections with retail furniture outlets, smoothing the bumps in eCommerce and handling a workload that would have necessitated an expensive staffing upsurge to manage in a manual business software setting. It’s a story of enduring Entrepreneurship. It’s a story of cloud ERP functionality. It’s a story of Net at Work’s distribution experience. It’s an American Success Story of Profit From ERP. In this 2-part Podcast, Jay Carlson, President of Nice Link speaks with Net at Work’s Acumatica Practice lead, and Gene Hammons of Profit From ERP, an independent ERP Selection firm assisting companies on their ERP Selection Process Nice Link Home Furnishings – an Net at Work Acumatica ERP Distribution Story Episode 1 https://content.blubrry.com/erprofitthepodcast/E24_NiceLink-11_18_20_4_48_PM.m4a Episode 2 https://content.blubrry.com/erprofitthepodcast/E25_NiceLinkPt2-11_25_20_12_56_PM.m4a

Sage X3 permits the calculation of sales price information based on several factors including product, customer, quantity purchased and discounts. In addition to charging the customer for products & services, it is common to levy additional fees affecting the determination of a total invoiced amount. These fees may cover the cost of freight, handling, insurance, or transportation-related surcharges such as fuel. A user may account for these charges with a Sales Invoice Element, and have the system automatically calculate the impact of the fee on the line level or on the value of the total order. Bookmark Sage Support Resources today! Below, we will establish a Sales Invoicing Element to cover a 2% fuel surcharge for a Sales Order and observe its flow through to the Sales Order Invoice function & form. You may define the behavior of the invoicing element in Setup > Sales > Invoicing elements (GESSFI1). To target where your invoicing element will appear in subsequent entry transactions, select the ‘Element Position’ button: Let us look at the where this value belongs within the Sales order screen. Locate the Invoicing tab, Invoicing elements grid. On SONNA0210104 record, below, shipping from NA021 site for (2) finished good items, our new fuel surcharge (in position 4) now holds % value for the fee. Completing the order fulfillment process, through Delivery & Validation, then generation of a Sales Invoice, we can see the Invoicing element output – Sage X3 calculates the value for the 2% fuel surcharge on the total order value of $171.40 and adds it to our form for presentation to the customer. For more information on using Invoicing elements to manage fees and charges on a Sales Invoice, or for any other questions about Sage X3, please contact us.

Organizations faced many challenges during the pandemic. For HR, this included managing a remote workforce, providing COVID-19 support to employees and their families, and managing the ever-changing landscape of regulations. These challenges put a strain on processes and systems like never before, and now more than ever, human resources professionals need to rely on their Human Capital Management systems to not only increase efficiencies and reduce administration but also obtain strategic insight using people data so the company can thrive. Businesses want to attract new customers, improve employee productivity, and keep up with competitive pressures. For HR, this means recruiting and retaining top talent, maximizing the employee experience, and combining HR data with other business data for deeper insights. But how does an organization know they are maximizing the use of their HR systems to achieve these results? From recruiting to retirement, are processes defined and refined? Are applications tracking the right data for business making decisions? Is your technology enabling you to digitally transform your business for the future? A thorough Human Capital Management Business Process Review can help answer these questions. An HCM Business Process Review can help businesses identify gaps and discover opportunities within the HR space. This type of BPR is laser-focused on the role of Human Resources and the technology it uses to meet the goals of the company. BPR’s provide valuable understanding of HR’s impact on the organization and identifies where there may be process gaps or inefficiencies (duplicate processes, dual entry of data, etc.). It also identifies areas that could be streamlined with better technology and automation. This leads to setting HR strategic direction that aligns with the changing needs of the business. There are many other results that typically occur due to an HCM BPR, including: Increased productivity Better employee satisfaction Reduced compliance risk Better integration across technologies Organization agility Net at Work has assisted many customers with facilitating process reviews with maximized results. In one case, the review revealed several inefficiencies in a company of approximately 3,500 employees. This resulted in system and process configuration changes that ultimately decreased manual effort and administration within the HR and Payroll departments, saving the equivalent of 10 hours a week in administrative expense. In another case, Net at Work teamed with an organization to evaluate their current HCM system. Ultimately, it was determined that the current system did not meet the organization’s specific needs and goals and was replaced with a more modern system with deeper integration and reporting capabilities. The reporting has led to deeper insights into the organization’s data that ultimately led to better business decision making. The Net at Work Employer Solutions team can provide an independent analysis and objective view and offer advisement on best practices, system improvements, and streamlined HR processes. We can also help prioritize improvements with stakeholders based on business impact, cost, and timeframe. Ultimately, Net at Work’s vision is to help its customers unleash the power of their business. By doing this, we can help companies continuously improve and overcome any future challenge that lies ahead.

Starting in Acumatica ERP 2020 R2, Acumatica has added the ability to recognize Accounts Payable Documents from a PDF. These documents can be brought into the system in either three ways: Option 1 The user can drag a PDF file into the Preview area of the Incoming Documents form in Acumatica, and then click Recognize on the form toolbar. Initially, the uploaded document has the Pending Recognition status displayed in the Summary area of the form. If the document is successfully recognized, the system fills in the settings in the Summary area with the recognized values and changes the status of the document to Recognized and Accounts Payable Bill will be created. Option 2 The user can open the Acumatica add-in for Outlook for an email that contains a PDF attachment and click Create AP Document in the add-in. Option 3 A system email account can be created on the Acumatica System Email Accounts form for the mailbox that receives emails with invoices, with incoming mail processing activated and the Submit to Incoming Documents check box selected on the Incoming Mail Processing tab. In this case, all incoming emails in the mailbox are to be processed and any PDF attachment that is found is automatically submitted for recognition. Note: We recommend that a dedicated mailbox is used for storing emails with invoices that need to be automatically processed and recognized.

2020 was full of unforeseen challenges. During this period of change, companies faced a bleak choice: evolve quickly or suffer the consequences. In many cases, the challenge caused business leaders to gain important skills. They learned to be more adaptable and to implement and adopt new strategies in record time. They redeveloped business models and uncovered new ways to operate, cut costs and thrive. Several of these organizational changes reinforced or sped up the adoption of technologies, while others created new consumer sentiments and expectations. And the changes won’t stop coming. The predictions below outline several transitions to come in 2021, as identified by major consulting and analyst firms. Their outlooks include issues related to technology, the new hybrid workplace and shifting consumer demands. These firms tend to focus on issues for enterprise-scale companies, but in this article, we summarize their views and give our take on how these same issues will impact smaller businesses in the coming year. We’ll use these projections to explore how leaders can plan for new norms as the pandemic comes under control in 2021. Business Predictions 2021 Remote and hybrid workplaces are here to stay COVID-19 and social distancing requirements continue to make a case for fully remote or hybrid workplaces. Twenty-one percent of U.S. information workers — or those who use and create information for decision-making vs. physically laboring — will work primarily from home next year, according to 2021 predictions from Forrester, a research firm that provides advice on technologies like software and telecom. And the trend is poised to continue: In Forrester’s survey of information workers, North American managers said they anticipate more employees working fully remotely next year, and more than half of information workers said they want to work from home after the pandemic subsides. Business leaders will need a whole new set of tools for remote leadership and HR management, Forrester continues. The challenge, they say, will be to rethink team building, internal communications, project management and more in 2021’s hybrid workplace. The shift will also require updates to HR processes like onboarding. From a technical standpoint, it’ll require rolling out new systems to avoid the weaknesses of on-premises solutions, which can be costly to maintain and hinder flexible, work-from-anywhere plans from becoming reality. On the other hand, the pandemic may continue to present a wider talent-sourcing pool and reduced office-space costs in 2021, which could boost efficiency for organizations that take a proactive approach to adopting new business models and systems. Finally, the unpredictability of school closures, local infection rates and more remains a reality as we move into 2021. So, leaders are encouraged to develop a holistic strategy that uses new technologies and procedures to support their workforce, as well as project and analyze future events in order to mitigate risk and capitalize on new opportunities. Of course, in doing so, they’ll need to remember that those plans may need to change. Scenario Planning: Strategy, Steps and Practical Examples: Make a plan that’s both flexible and solid by mastering the basics of scenario planning. Technology supports new business realities and shifting consumer demands Technological advancements are always a driving force of business growth. However, many businesses have recently experienced firsthand the specific benefit of using technology to support entirely new business needs. Gartner — the research firm focused on leadership in IT, among other areas — predicts companies will continue to rely on technology to connect newly distributed workforces and cement their abilities to respond to quick changes, strict constraints and new customer needs in 2021. This entails more moves toward cloud-based, distributed enterprise solutions, says the firm. Cybersecurity also demands renewed focus as companies work to protect data in this new framework. Gartner also references the need to develop “anywhere operations,” or “an IT operating model designed to support customers everywhere, enable employees everywhere and manage the development of business services across distributed infrastructure.” Gartner also foresees even more businesses capitalizing on new opportunities via technology in 2021. Its trends roundup references the “total experience,” or linking and improving all the touchpoints of your business. The goal, of course, is a seamless experience across web, mobile and more that addresses customers’ most current needs. For a grocery store, “total experience” could take the form of an app that offers the ability to shop, as well as access customer service and delivery. A clothing brand, meanwhile, might update return policies to reflect the new needs of at-home shoppers. “Total experience” enhancements will look differently at each company, but the overall goal is to differentiate your brand in a new landscape by putting technology to work. Consumer behavior keeps driving business online COVID-19 will continue to influence consumer behavior in 2021. Overall, ecommerce continues to build momentum in the face of stay-at-home orders and unpredictable future infection rates. It’s also growing along with a generation that is used to buying everything from groceries to furniture online. JPMorgan’s research shows just how much the pandemic has transformed consumer spending habits for the benefit of categories including food, household cleaners, soaps and sanitizers, vitamins and supplements and, of course, alcohol. Meanwhile, sectors such as leisure, hospitality and travel will likely continue to take hits in the coming year. In the B2B space, companies should refine digital sales processes to create even better purchase experiences in line with those that B2C consumers have come to expect in recent years. Strong omnichannel sales strategies and elevated B2B ecommerce, such as improved personalization, better access to sales history, simple re-ordering, custom discounts and order status displays, will be imperative to maintain and grow revenue in 2021. The SaaS industry, which often relies on resellers and channel partners as a primary revenue source, will need to provide digital tools that support these crucial relationships. Entrepreneur magazine recommends enhancing your channel partner experience by focusing more on digital sales and marketing activities, as well as automating procurement, fulfillment, billing and customer management. Recommendations also include getting channel partners onboard with your revenue goals — and supporting that process with shared ecommerce automation platforms and partner portals. Cloud-centric operations become the norm COVID-19 exposed weaknesses in many businesses processes and sharpened the need for scalable, flexible, secure, cloud-based technology, both customer-facing and for back-office use. There was a massive surge in cloud adoption after the outbreak, which has continued through Q3 of 2020. Spending on cloud infrastructure services reached nearly $33 billion in Q3, up 33% from the previous year, reports Synergy Research Group. For big businesses, Deloitte predicts “a shift in cloud strategies toward cloud migration, security, operations, value planning, and DevSecOps” in the near future. Per Deloitte’s report, the major issues driving this cloud adoption are: shifting work models, the security risks of distributed workforces and the need to efficiently manage both hybrid and fully-remote teams. The firm, which specializes in management consulting, suggests multicloud and hybrid cloud technologies to handle these shifting needs. The firm also foresees a move toward virtual data centers, artificial intelligence for IT operations, and security models that can monitor a variety of networks and devices, along with a distributed software development team. Fortunately, most small businesses will never have to worry about whether AIOps is “real,” or for them. Most of the complex systems that Deloitte imagines big business reworking were out-of-reach for smaller businesses in 2020, anyway. Security and operational efficiency are primarily the concern of the cloud-based SaaS providers that small businesses choose. Smaller businesses can go wrong, however, if they fail to ensure that the cloud-based systems they choose are easily or automatically integrated. Inventory management systems that talk to financial management and sales support systems out-of-the box, for example, are a far more powerful business advantage than these three systems would be if they operated independently. Supply chains go high-tech The pandemic rocked supply chains around the world. In response, the supply chain industry is doubling down on technology investments to create more automated, transparent and interconnected systems that can absorb shocks. News publisher Supply Chain Brain lists seven supply chain trends to watch in 2021 — though it should be noted that these trends likely won’t materialize into usable products until well into the 2020s. The roundup lists automation in the form of robotics and AI, both of which offer safety and better data analysis while freeing workers to focus on complex tasks. The publication also predicts that future supply chains will integrate blockchain technology, IoT and GPS sensors to provide greater transparency throughout the supply chain cycle and improve inventory management. Other projected changes include smart contracts that will cut down processing time, more flexibility via AI, and machine learning that will help companies predict and prepare for future scenarios. Finally, the list predicts a general layering of technologies across the supply chain ecosystem. There’s no doubt technology can substantially help supply chains deliver a more reliable flow of materials, but even Supply Chain Brain admits that companies aren’t using AI and machine learning just yet. Nevertheless, it nominates “agility” as a supply chain trend for the year. Our suggestion for achieving said agility as a smaller business: Multisourcing materials. You might also look for suppliers that can use technology now to keep buyers informed of materials availability and the status of orders. During the pandemic, companies took a hit when single-source suppliers couldn’t deliver or when sourcing was left to a third party that couldn’t or wouldn’t provide insight into material pipelines. The remedy combines insight with diversity, so that you can address a loss of suppliers in one region, country or company by engaging other suppliers with whom you already have a relationship. The Bottom Line Even if you’re not an enterprise shop, it’s a worthwhile exercise to consider major consulting and analyst firms’ predictions for 2021, then translate them into actionable insights for your own operations. In the wake of 2020’s wave of change, businesses can find power in proactively building a company that aligns with the above trends, many of which will continue developing for years to come. This article was originally posted on NetSuite.com by Justin Biel, Contributing Editor Oracle NetSuite and Grow Wire.

Beginning with tax year 2020, businesses will now need to use Form 1099-NEC to report non-employee compensation in Acumatica Cloud ERP. Form 1099-MISC has been updated with rearranged box numbers for reporting certain income. 1099 MISC / 1099 NEC in Acumatica Starting in 2020, form 1099-MISC was redesigned to remove Non-Employee compensation, and a new Box 7 was added. For those that issue Non-Employee 1099s, reporting will now be done using form 1099-NEC. Acumatica Vendor Setup In Acumatica versions 2019 R2 or later, no Vendor setup changes are needed. Acumatica will automatically print nonemployee compensation amounts, which were historically in 1099-MISC Box 7, now as form 1099-NEC Box 1. Other 1099 settings will also automatically print to the proper 1099-MISC boxes: Box 9 Direct Sales will print to 1099-MISC Box 7 Box 10 Crop Insurance Proceeds will print to 1099-MISC Box 9 Box 14 Gross Proceeds to Attorney will print to 1099-MISC Box 10 Box 16 State Tax Withheld will print to 1099-MISC Box 15 Box 18 State Income will print to 1099-MISC Box 17 Box 151 Section 409A Deferral will print to 1099-MISC Box 12 Box 151 Section 409A Income will print to 1099-MISC Box 14 Please contact Net at Work to discuss version upgrades or 1099 reporting workaround processes with Acumatica versions 2019R1 and lower. NOTE – Acumatica does not process 1099 Interest or 1099 Dividends Where to purchase 1099 Forms Pre-printed 1099-NEC or 1099-MISC Forms can be purchased online through Amazon.com, or in stores like Costco, Walmart or Office Depot. Do not wait until the end of January process your 1099s!!! Employers must file forms 1099-MISC and 1099-NEC by February 1, 2021. Updating YTD 1099 Amounts in Acumatica If AP Invoices have been processed for the year but not marked correctly for 1099 purposes: Update the original transactions using AP Bills and Adjustments, changes to the 1099 Box settings in Document Details are allowed even after the AP Bill has been Released. For system conversion purposes or to enter a summary 1099 amount for a Vendor: Enter an AP Quick Check, using the same GL Account as both the DR and CR to create a wash entry in the General Ledger. The amount of the Quick Check can be used as a summary entry for the 1099 vendor. The Quick Check will need to be cleared in Banking for reconciliation purposes. Reviewing 1099 Details in Reporting in Acumatica Run the 1099 Year Details report to see your 1099 Amounts. NOTE – Compare this to your AP Payment Register report to make sure you did not miss any payments not marked as a 1099. Printing 1099-NEC Forms Acumatica Under the 1099 Menu, run the 1099-NEC Form for each Company/Branch. NOTE – Get your 1099-NEC forms ordered ahead of time. NOTE – Test two vendors before printing 1099 forms for all vendors. Filing the 1099-NEC Electronically in Acumatica Under the 1099 Menu, you can run the 1099-NEC Create E-File Process. This will create a text file that you then transmit to the IRS. NOTE – This process in Acumatica will create the file, but It will not transmit it for you! Closing the 1099 Year in Acumatica Once you have printed and submitted your 1099s, close your 1099 Year. This locks your 1099 amounts and prevents your numbers from changing. Please contact Net at Work with any questions or to schedule a quick review of the Acumatica 1099 reporting process. .embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width: 100%; } .embed-container iframe, .embed-container object, .embed-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; }

HR Managers continue to face difficult decisions concerning managing their workforce during the continuing COVID-19 pandemic. Some organizations are dealing with layoffs, organizational restricting, remote workers and even an increase in need for new employees. Payroll and Paid Time Off systems have been strained to accommodate tax credits, small business loans, paid leave and new federal and State regulation. In a recent web session our Employer Solution specialists reviewed the key elements a Human Capital Management (HCM) system and what’s required to respond to the challenges of the new normal. Whether you are looking to change your HR technology systems or want to be sure that you have covered all the issues with your current Human resource and payroll systems, this session will help you understand what you need today – and in the future- to help your company grow and thrive in this changed environment. Topics covered included: Recruiting and selecting outstanding employees Successful onboarding, training, and orienting new employees Lowering turnover and preventing employee burnout Understanding and controlling the cost of benefits Assuring a fair and compliant payroll process Reducing their technology “total cost of ownership” Maintaining the centrality of the organization’s mission Access the recorded session here