Post about "Business"

Accounting Software Considerations

An off-the-shelf mainstream accounting program works well for micro and small businesses. Large companies are much better off with customized enterprise resource planning (ERP) systems that integrate supply chain, customer relationship management, human resources and all other data systems. Whereas a dedicated accounting software is all you need to run your medium-sized business.Assessing Your Business NeedsRequirements vary by industry so make sure whatever you look at works for your industry! Regaradless, your accounting software must provide income and expense tracking and report generation.Before you start sending RFPs, take some time to figure out exactly what you want from your accounting system. Products vary from simple checkbooks and cash-accounting systems to more complex financial management, payroll, inventory management, tax accounting and job costing. Many software offerings are modular so you buy what you need now and then add additional functions when needed.Accounting software should provide the following tools:
Generate balance sheets and profit and loss statements
Track accounts receivable/payable
AR/AP aging
Job costing
Quarterly tax payment estimates
Income tax preparation
Sales tax preparation
Payroll
Quarterly and year-end reports
Available inventory
Inventory aging
Purchase order creation
Compute cost of goods sold
Some of these features are standard on all accounting programs. Others are exclusive to ERP systems. Remember, that software created specifically for your industry may be the best solution, especially if you are dealing with complex processes or regulation.Other ConcernsYou may also want to consider other features, such as customizable reports, check printing and electronic invoices, to name a few. A service business will likely require an hourly billing function too. You may wish to consider a Web-based or “hosted” solution, which offers faster implementation, easier upgrading, lower costs and avoids technology infrastructure expenses.Ease of UseYou should include input from the primary users of your accounting software. This will ensure that you get the right product based on their needs. It will also minimize complaints and buy-in when you make a final decision.When you give any software a trial run, test the software publisher’s technical support and sales team. The ideal accounting software publisher should be a business partner. If they aren’t willing to go the extra mile for you, then look somewhere else.Choosing accounting software for your business might just be the most important decision you make. Choose wisely. If you need help, feel free to contact me for help. That’s why I’m here.

S&P 500 Rallies As U.S. Dollar Pulls Back Towards Weekly Lows

Key Insights
The strong pullback in the U.S. dollar provided significant support to stocks.
Treasury yields have pulled back after touching new highs, which served as an additional positive catalyst for S&P 500.
A move above 3730 will push S&P 500 towards the resistance level at 3760.
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Pfizer Rallies After Announcing A Huge Price Hike For Its COVID-19 Vaccines
S&P 500 is currently trying to settle above 3730 as traders’ appetite for risk is growing. The U.S. dollar has recently gained strong downside momentum as the BoJ intervened to stop the rally in USD/JPY. Weaker U.S. dollar is bullish for stocks as it increases profits of multinational companies and makes U.S. equities cheaper for foreign investors.

The leading oil services company Schlumberger is up by 9% after beating analyst estimates on both earnings and revenue. Schlumberger’s peers Baker Hughes and Halliburton have also enjoyed strong support today.

Vaccine makers Pfizer and Moderna gained strong upside momentum after Pfizer announced that it will raise the price of its coronavirus vaccine to $110 – $130 per shot.

Biggest losers today include Verizon and Twitter. Verizon is down by 5% despite beating analyst estimates on both earnings and revenue. Subscriber numbers missed estimates, and traders pushed the stock to multi-year lows.

Twitter stock moved towards the $50 level as the U.S. may conduct a security review of Musk’s purchase of the company.

From a big picture point of view, today’s rebound is broad, and most market segments are moving higher. Treasury yields have started to move lower after testing new highs, providing additional support to S&P 500. It looks that some traders are ready to bet that Fed will be less hawkish than previously expected.

S&P 500 Tests Resistance At 3730

S&P 500 has recently managed to get above the 20 EMA and is trying to settle above the resistance at 3730. RSI is in the moderate territory, and there is plenty of room to gain additional upside momentum in case the right catalysts emerge.

If S&P 500 manages to settle above 3730, it will head towards the next resistance level at 3760. A successful test of this level will push S&P 500 towards the next resistance at October highs at 3805. The 50 EMA is located in the nearby, so S&P 500 will likely face strong resistance above the 3800 level.

On the support side, the previous resistance at 3700 will likely serve as the first support level for S&P 500. In case S&P 500 declines below this level, it will move towards the next support level at 3675. A move below 3675 will push S&P 500 towards the support at 3640.