07 Dec
Post by Super User
in BLOG
Hits: 34

As the end of the year approaches you need to create a new posting period in your system, in order to have transactions within the new fiscal year.
Below are the steps to create your new posting periods for 2019.

1. Go to ADMINISTRATION>SYSTEM INITIALIZATION>POSTING PERIODS.


2. You should get a screen similar to this one. Click on "New Period"

3. On the next window, you need to enter your period code (fiscal year) and a period name. 

 

4. Select Months as subperiods (this is very important). The number of periods should be 12.

5. CONSENSUS BEST PRACTICE: Set the Due Date from the beginning of the new period you are creating to the end of the following fiscal year (in this case until the end of 2020). Please note that SAP Business One will not allow you to post in transactions with due dates falling into the next fiscal year unless you set it up this way.

6. Once you add your new period, you will be able to change your Period Name.

7. In the above example, we've changed the Period 2019-01 to Jan 2019. This change is very useful especially when your Fiscal year differs from the Calendar Year (for example the 5th period could be November instead of May if your fiscal year goes from July to June).

You are good to go!

Consensus customers: contact us if you need help with this procedure or other Year-End processes like Fixed Assets, 1099 or How to Year-End close in SAP Business One. Our consultants will be happy to schedule a session to walk you through them!

12 Oct
Post by Super User
in BLOG
Hits: 222

 

Are you a warehouse manager or even an owner of a small or medium sized business who wonders how to manage finding the right products for shipping, can never get an accurate representation of your inventories overall value, or worry about how to keep track of the items you transport long distance? In the article, “Day in the Life of a Warehouse Manager Using Business One” written by Idit Saguey, Product Expert at SAP, all of those questions are addressed and answered by using SAP Business One.

Biz.One is the User conference to learn and share about all things SAP Business One. The article serves as a fictional example to help break down the questions posed inside of the research report hot-topic, inventory management. Created through the Biz.One Research Report, which surveyed over fifty organizations to find 8 areas that make up the Biz.One blueprint to leveraging the power of SAP Business One. If you haven’t read the Biz.ONE Research Report yet, you’ll want to give that a quick skim to provide context.

The article follows:

About

Managing a warehouse is not at all easy. Warehouses can be a bit chaotic and confusing. Here are some of the challenges that my warehouse has and how I used SAP Business One to make my job, and everyone else’s, much easier.

Problems

  1. The sales guys don’t always have visibility into item availability or see wrong quantities on hand, and my warehouse personnel are having a hard time finding products for shipping.
  2. The accountant can never get a good number that represents the inventory overall value.
  3. Since we ship long distance, we want to keep track of items in transit, and identify when they reach their destination.

Do these sound like issues that you are facing?

Solution

My name is Jenny. I’m responsible for managing the company’s warehouse. I manage the warehouse by Bin Locations. Every time I receive or release inventory, I know exactly where it is and where it should go. For some items, that needs cooling, I dedicate special bins that are compatible.

When a new order comes in, I use the pick list document. It includes the bin location, so I know exactly where to find the item.

To make sure my quantities on hand are correct, I setup a cycle count process. Today I got an alert from the system, that I need to count items in the aisle 7. I get right to it. I use my iPad to login, and enter the items counted. Later, I will check and see if there are any discrepancies before I consolidate the information.

For my sales guys, I have them use the Available To Promise Check, which shows graphically the item availability we have now and in the future. If they need to know more, they can use the Inventory status report, and drill down to the items information to see exactly what open orders, purchase orders or even production orders that affect availability.

Since we carry many different products, I setup different valuation methods depending on the item. Some have standard costs, which get updated once a year, for food items I use FIFO, and for other tangible items I use moving average. When I want to know my overall inventory value, I can run the Audit Report, which shows me exactly the valuation of each item, by warehouse, by location, by dates and much more.

I also use an excel report to analyze return statistics and inventory turnover, to identify problematic items, or any over and under stocking of items. All this helps me be proactive about my inventory; and that saves a lot of money!

With SAP Business One, I have the peace of mind of knowing what is going on in my warehouse. I see potential issues before they arise, I can even finish up my work earlier than before making everyone happier!

Want to learn more about Managing your Inventory with SAP Business One? 

Contact us today!

08 Aug
Post by Super User
in BLOG
Hits: 310

According to a Gartner report published last April, ¨By 2025, 80% of enterprises will have shut down their traditional data center, versus 10% today¨. Digital Infrastructures like the NAP of the Americas will emerge, and lead the way. The Miami NAP (owned by Equinix) is the fourth-largest Internet exchange point in the U.S. and serves as a strategic hub for Equinix customers servicing Latin America. It hosts the termination points of 15 sub-sea cable systems and more than 120 global networks connecting some 150 countries. 

It literally represents, from a data center and telecommunications standpoint, the gateway to the Caribbean, Central America, and South America. It always has since it was built,” Karl Strohmeyer, president, Americas, for Equinix, said in a phone interview with the Miami Herald back in May 2017. “And what that means is lots of data and cloud communications go in and out of that building. ... It has six floors and two of the floors have not been built out so there is a lot of growth we look forward to unleashing.”

Now, Equinix is adding more than 60,000 square feet on the 5th floor of the Network Access Point (NAP) to ensure that their customers and partners like SLAS Consulting can keep leading the way in the digital era. And they want to celebrate it with all of us.

SLAS Consulting, Consensus Hosting Services Partner, is extending Equinix invitation to all of Consensus Customers to a Celebration next Thursday at Epic Hotel that will include optional tours of NAP of The Americas.

Date: Thursday, August 16th
Time: 3:00 pm - 8:00 pm
Tours: 3:00 pm - 5:00 pm
Where: Epic Hotel, 270 Biscayne Blvd Way, Miami, FL 33131 (with optional tours of NAP of The Americas)

Notes:

  • Transportation between the Epic Hotel and NAP will be provided
  • Parking will be covered
  • If you need special assistance, please email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Why do we think you should attend?

  1. If your systems are not hosted now, chances are they will be in the future (If we believe the Gartner Report) and this is an opportunity to get a glimpse at how the future looks.
  2. If your systems are already hosted with our Hosting Service Partner, SLAS Consulting, you will get to meet all the team in person, and visit the impressive facilities where your systems live.
  3. Security measures are especially strict at the NAP, and it is rare to be granted access.

Space is limited, so early registration is recommended. To register, click here. 

Some interesting facts about NAP of the Americas

  • Located in central Miami, NAP is a purpose-built data center designed to withstand category five hurricanes
  • Construction started in 2000, and it came online in June 2001, just after the dot-com bubble burst and three months before 9/11 - "the worst time in internet history to bring a company like this one online", according to NAP engineer Ben Stewart
  • The building has an uninterrupted power supply provided by 12 systems
  • More than 160 carriers exchange information