Category Archives: Domestic Business

10 Benefits to Managing Payroll In-House

Posted on by

While outsourcing payroll management can be beneficial in certain situations, the value of keeping payroll management in-house lies in the greater control, security, customization, and flexibility it offers. With a dedicated internal team, businesses can ensure accurate, compliant, and efficient payroll processing while contributing to the organization’s long-term success.

Managing payroll in-house has several benefits including:

  1. Cost Savings. In-house payroll allows you to avoid potential hidden costs, such as fees for making changes or running additional reports.
  2. Data Security and Confidentiality. Reduce the risk of data breaches or leaks that might occur when sharing sensitive data with an external provider.
  3. Customization. Implement specific deductions, benefits, and compensation structures that align with your company’s policies and workforce composition.
  4. Real-time Access. Immediate access can be beneficial for addressing inquiries from employees, management, or regulatory authorities without relying on third parties.
  5. Timeliness and Control. Ensure that payroll is processed accurately and on time, which can contribute to employee satisfaction and morale.
  6. Compliance and Regulations. Managing payroll in-house gives you more control over compliance with labor laws, tax regulations, and other relevant rules. This reduces the risk of errors and non-compliance.
  7. Integration with Other Systems. Integration streamlines data flow and reduces manual data entry, potentially reducing errors and saving time.
  8. Training and Expertise. This can be valuable for addressing complex situations, handling employee inquiries, and ensuring accurate calculations.
  9. Flexibility. Adapt to changes in your organization’s structure, employee benefits, or compensation plans without relying on external parties to implement these changes.
  10. Long-Term Investment. The organization can develop a deep understanding of its payroll processes, allowing for continuous improvement and optimization.

Ultimately, the decision between in-house and outside payroll management depends on factors such as the organization’s size, complexity, available resources, risk tolerance, and the level of control it desires over its payroll processes. It’s important to carefully assess these factors before determining the most suitable approach for managing payroll.

Not sure how to get started? Contact us now or call 707-774-7537. Unlike most accounting software companies, we run our own company on our software, including payroll; we have a vested interest in making the product work properly.  We even test early versions of our software in-house to assure that it works when it’s released.  We are truly invested in the product’s functionality.

Lender Builds Automated Financial Management System for Unique Needs

Posted on by

Preferred Credit, a consumer finance company, improved their operational efficiency, customer service, and financial management by implementing AccountMate’s business management system.

Preferred Credit faced challenges related to manual processes, limited visibility into customer data, and cumbersome financial management. They needed a comprehensive solution to streamline their operations, enhance customer service, and gain better financial visibility.

With the help of a solution provider, Preferred Credit adopted AccountMate’s business management system, and achieved significant improvements. The software automated and streamlined various aspects of their business, including loan origination, underwriting, customer relationship management, and accounting processes.

AccountMate’s robust features enabled Preferred Credit to gain real-time access to customer data. They could track customer information, streamline loan processing, and enhance customer service. The system also facilitated efficient financial management, including accounts receivable and general ledger management.

The case study highlights the integration capabilities of AccountMate, allowing seamless integration with Preferred Credit’s existing systems. This integration improved data accuracy, eliminated redundant data entry, and enhanced overall efficiency.

AccountMate’s reporting and analysis tools provided Preferred Credit with valuable insights into their business performance. Customized reports and dashboards helped them monitor key metrics, track loan performance, and make data-driven decisions.

Overall, the implementation of AccountMate’s business management system enabled Preferred Credit to enhance their operational efficiency, improve customer service, and gain better financial visibility. The case study demonstrates how leveraging the right technology solution can drive positive outcomes for consumer finance companies.

Read the full case study here.

Want to speak to one of our highly-skilled business professionals about what AccountMate can do for your business?Contact us now or call 707-774-7537.

Fan Manufacturer Triples Sales Volume in Ten Years and Tracks Shipping Container Movement Using AccountMate

Posted on by

Fanimation, an Indiana-based designer and manufacturer of unique and innovative ceiling fan kits, has grown from a one-man shop to a thriving international business, serving more than 1,500 customers and exporting its products to over twenty-three countries worldwide. Fanimation’s corporate culture, centered on family values, combined with the development of high-quality, sustainable products, positions the company as a leader in the ceiling fan industry.

As Fanimation experienced consistent growth and increased sales demand, they realized that their original, proprietary accounting system was no longer sufficient to handle their evolving business requirements. To address this challenge, they sought a robust business and financial management solution with real-time information, automation, and scalability. They turned to an Elite AccountMate Business Partner, for a solution.

It was recommended that they install AccountMate SQL’s financial management system due to its open architecture and scalability.

Some key solutions implemented include:

  • Product Arrival Visibility. With over 200 customer orders per day, Fanimation needed to track the status of containers throughout their movement in order to project item availability for order fulfillment. Now, Fanimation employees have access to estimated arrival times and can manage order fulfillment problems in advance, equipping their team with up-to-the-minute information. Complete visibility into their products helped them efficiently create a knowledgeable workforce ultimately boosting productivity, sales and customer service.
  • Unique Inventory Attributes. Fanimation sells more than 70 different fan models, each with numerous unique attributes. To track and manage over a hundred of these product-specific attributes, the business partner deployed custom data entry screens and reports. Additionally, they facilitated importing and exporting data to and from Microsoft Excel to avoid tedious editing.
  • Comprehensive Order Tracking. This allowed seamless integration of industry-specific solutions, streamlining the shipping process and improving warehouse efficiencies.

By leveraging AccountMate, Fanimation has achieved real-time information, integration, and automation 24/7, supporting their business goals and strategies. Over the course of more than ten years, Fanimation tripled its revenue, expanded its warehouses nationwide, and experienced significant customer growth.

With the implementation of AccountMate’s financial management system, along with the specialized support from an AccountMate solution provider, Fanimation can efficiently manage its growing business, streamline operations, and significantly increase its sales volume over the years.

Read the full case study here.

Want to speak to one of our highly-skilled business professionals about what AccountMate can do for your business? Contact us now or call 707-774-7537.