December 8, 2021 by Tyson McMurren Electronic Funds Transfer (EFT) for SAP Business One A video on the features and benefits of Electronic Funds Transfer for SAP Business One can be found below. Implement EFT to resolve inefficient processes Issues with performing EFT directly from online banking: No remittance advice sent to business partnerIncreased reconciliation issuesRedundant tasksManual emails to reconcile or advise of payments Issues with writing checks within SAP Business One Studies have shown $8.00 to get a check printed and mailedPrinting costsSigning time and effortMailing time and costs Realize the benefits of EFT for SAP Business One Maximize cash flowIncreased BP relationshipsBetter control and easier reconciliationStreamline accounts payable and receivable processesReduce payment processing costsIncrease securityReduce days outstanding. Some key features of EFT include the ability to: Create bank transfer files formatted for your bank EFT comes with pre-installed NACHA and CPA file formats to ensure compatibility for all banks in the US and Canada. You then have the option of customizing any of the pre-loaded templates using EFT’s configuration tool to edit, add, or remove data fields. You can even create your own templates by building record types and data fields that match your requirements. Pay vendor invoices on time and reduce customer collection times EFT’s Payment Wizard easily creates EFT/ACH payment transaction files. Set up both Vendor Outgoing Payments and Customer Incoming Payment transactions. With the click of only one button, you can create files to upload to your bank to complete the payment process. Instantly notify your vendors when a payment is made EFT’s remittance emails allow you to notify your vendors when a payment has been made. These emails are generated with one click and include an attachment with the invoice number, date, total amount, and purchase description. Any additional data from a user-defined field can also be pulled onto the invoice. Enhance the security of your accounts AP and AR processes With EFT, you no longer have to deal with checks being lost in the mail, stolen, fraudulently cashed, or securing check stock. EFT’s pre-note function validates vendor and customer payment information, making sure that the transaction is sent to the correct bank account. Automatically keep a record of all your EFT Payments EFT provides one centralized location for quick access to all of your EFT payments in a folder on your network. Easily view any EFT for verification purposes. In addition, you can review the audit trail at both the transactional and file-level! Third Wave’s Electronic Funds Transfer allows you to do all this and more! Talk to an expert today to get started Recording of a recent webinar Watch this video on YouTube Innovation at Heart As the most experienced SAP Business One Gold Partner in North America, we help scale and support your business, every step of the way. Our expertise extends beyond SAP Business One and ERP. Our customers enjoy having a single provider for all their needs. No matter how your business system requirements grow and change, we are there to assist you. Third Wave’s implementation process and consulting team has created a customer retention level average of 98.7% year over year and is the only partner to achieve 100% customer retention. We have a 95% implementation success rate. Contact us and see how we can help you get the most out of SAP Business One. Talk to an expert today and discuss how we can help you get the most out of SAP Business One Versago and Bizweaver SAP Business One runs better with Versago and Bizweaver, our innovative portal and business process automation platform for modern operations. Extend the power of SAP with a connected workforce and smart integrated eCommerce, CRM, EDI, and 3PL with SAP Business One.
December 3, 2021 by Tyson McMurren Frequently Asked Questions before and after Year-end It’s that time of the year again where many SAP Business One users ask us for help with year-end posting periods issues. The common questions are: 1. I’m trying to post A/P and A/R invoices but getting an error The reason is almost always that the December period has a To Due Date set to 12/31/2021 (current year) but your A/R or A/P Invoice has a due date that calculates out to January or later in the next year. The simple fix is to edit the December posting period in Administration -> System Initialization -> Posting Periods and edit the To Due Date to at least 1/31/2022 (or later). Once you do this, you will get past the posting error. 2. How do I setup the accounting periods for next year This is quite easy in SAP Business One. Again, go to Administration -> System Initialization -> Posting Periods and click New Period. Type a Period Code and Period Name (usually something like the year – 2022, for example), pick the period interval (e.g., Months). Usually, if prior periods are set up correctly, most of the other fields below automatically populate correctly. TIP: Change the To Due Date to something later than the default to avoid the due date issue next year. We normally recommend something further out such as 12/31/2023. 3. Should I lock my accounting periods? This is optional. Best practices are usually to set the period status to “Closing Period” or “Unlocked Except Sales” depending on the status. The latter is usually selected when accounting is still working on finishing up the month-end-close. “Closing Period” is only used when you want to run the Administration -> Utilities -> Period End Closing at year-end. 4. How do I close the year? This couldn’t be easier. When you’re ready to close your P&L to Equity, simply open Administration -> Utilities -> Period End Closing, select the Fiscal Year, From Period, and To Period (if you don’t see the periods, you need to set them to closing period. You only need to select the first and last month of the fiscal year and only they need to be set to Closing Periods. Select your Retained Earning and Period End Closing Account. SAP will close each Income Statement account to a Current Period Profit account on the last day of the year and then move each to Retained Earnings on the first day of the next year. Most of our customers don’t need to do this so they select one Retained Earnings Account in both spots. The next screen will show you every Income Statement Account the has a balance as of Year-End and will create the closing entries after you click Execute. TIP: you can perform this as many times are you like – for example once after you are ready to close and again after your auditor verifies your statements and posts any adjusting entries. Keep calm and have a happy year end Have a Happy Year-End and New Year. If you have any questions or issues, please feel free to open a ticket or contact us for assistance. Innovation at Heart As the most experienced SAP Business One Gold Partner in North America, we help scale and support your business, every step of the way. Our expertise extends beyond SAP Business One and ERP. Our customers enjoy having a single provider for all their needs. No matter how your business system requirements grow and change, we are there to assist you. Third Wave’s implementation process and consulting team has created a customer retention level average of 98.7% year over year and is the only partner to achieve 100% customer retention. We have a 95% implementation success rate. Contact us and see how we can help you get the most out of SAP Business One. Talk to an expert today and discuss how we can help you get the most out of SAP Business One Versago and Bizweaver SAP Business One runs better with Versago and Bizweaver, our innovative portal and business process automation platform for modern operations. Extend the power of SAP with a connected workforce and smart integrated eCommerce, CRM, EDI, and 3PL with SAP Business One.
November 30, 2021 by Tyson McMurren Things to Consider when Getting Started with WMS for SAP Business One There are things to consider outside of configuration when getting started with WMS for SAP Business One. Real-time inventory management helps streamline the supply chain and gain visibility into inventory status at any time. Real-time inventory management is the process of keeping track of inventory sales and purchases using software to trace them as soon as they occur. SAP Business One is ERP software your company can use to realize the benefits of real-time inventory management. Many benefits come with real-time inventory management. Businesses that have not considered venturing into the practice should consider SAP Business One first since it is a viable solution. Real-time inventory management enables the company to prepare for unexpected events, timely restocking of items, quickly respond to demand, and efficient management. If you have SAP Business One and are looking to streamline warehouse operations implementing a WMS solution is a way to fully realize the benefits of real-time inventory management. The following are things to consider when getting started with WMS. Warehouse Organization Before setting up WMS for SAP Business One it helps to think about how raw materials and finished goods flow through your facility from receiving to shipping. Consider each touchpoint in that workflow and when the business system transactions need to occur. Consider space available in each key area. Maximize your square footage – are ceilings high enough for pallet racking or is floor storage the only option? Importance of Bins A Bin is the smallest available unit of space in a warehouse. It describes the position in the warehouse where goods are stored. Bins are necessary for warehouse organization so you know the actual quantities of what’s in your inventory and exactly where it is located in the warehouse. Bins also allow you to validate your inventory quickly because you are able to count at the bin level. To be efficient, a logical numbering scheme is needed. A common pallet racking scheme is:Aisle – Bay– Level – BinConsider making the floor bin a picking bin for each item. Floor bins can be replenished from positions directly above.A common floor scheme is:Aisle – Bay – BinLines can be painted on the floor to denote each bin location. A WMS can direct pickers through the aisles in a logical sequence to maximize efficiency. Marking / Barcoding Bins Marking is a barcoded visual representation of the bin numbering scheme as seen in the examples below. By barcoding bins, transactions can be done using a handheld scanner for data entry. This maximizes productivity and improves data entry accuracy. It also minimizes opportunities for mistakes. When deciding on the placement of bin barcodes, consider how employees will interact with the inventory (forklift, cherry picker, pallet jack, picking cart, etc.). How they interact with inventory will determine what type of equipment is needed (see the section about mobile device selection) as well as where scanning needs to occur. Considering these things will help with the placement of the barcoded bin labels. Placing a barcode at the exact inventory location will reduce scan errors. The picture below with five barcodes stacked on top of each other denotes all five levels of pallet racking in one spot at eye level. This is an example where an employee can put inventory away in level five and accidentally scan the barcode for level four. To avoid this you can use long-range barcode scanners discussed later. Wireless Infrastructure Wireless infrastructure in your warehouse is necessary for transactions with mobile devices. Wireless networks require careful planning and execution in order to achieve optimal results. This is not an area to cut corners in budgeting. A wireless site survey is strongly recommended. The survey will provide: Accurate count of access points required to provide sufficient coverage throughout the facilityDetailed map with recommendations of exact mounting locationsRecommendations of specific access point hardware and antenna accessories best suited to needsUp to 40% redundancy in coverage (see Image 2)Potential barriers and other existing conditions which would limit the effectiveness of devices Mobile Device Selection When choosing a mobile device, consider the type of transactions required and the person performing the transactions. Below are some of the most common mobile barcode scanning devices. Handheld with pistol grip This type of mobile device is good when long-range scanning is needed. Long-range scanning is up to 45 feet. Standard scanning is up to 15 feet. Extended range is most common because it supports 3 inches to 70 feet. The handheld with pistol grip can read both 1D and 2D barcodes. 2D barcode readers are becoming very popular because they read both 1D and 2D barcode formats. Wearable The ring finger scanner allows for both hands to be free at all times without laying the device down. Tablet Tablets are not as rugged and can be just as expensive as the devices above to make rugged. However, they are ideal for certain applications, such as production areas. Printing Options When choosing a printer, it is important to consider the type of printing you are doing and by whom it is being done. Think about locations such as receiving, production and shipping. Identify the number of printers by location and think about how the users will interact with the documents being printed: Determine if multiple users per printer can cause mixed up labels or documentsOne printer per production lineDetermine the volume of labels or documents required and size the printer(s) accordinglyDecide if mobile printing is neededAre you packing in the aisles?Do you need to print and apply on demand at the time of a transaction? Network printers are always recommended. Realize Immediate Benefits and Position For Long Term Success WMS for SAP Business One is a powerful software to help you integrate real-time inventory management into your business. It has a lot of innovative features to facilitate your organization in running operations smoothly. Call us today to deploy WMS for SAP Business One in your company for scalability and high returns. Innovation at Heart As the most experienced SAP Business One Gold Partner in North America, we help scale and support your business, every step of the way. Our expertise extends beyond SAP Business One and ERP. Our customers enjoy having a single provider for all their needs. No matter how your business system requirements grow and change, we are there to assist you. Third Wave’s implementation process and consulting team has created a customer retention level average of 98.7% year over year and is the only partner to achieve 100% customer retention. We have a 95% implementation success rate. Contact us and see how we can help you get the most out of SAP Business One. Talk to an expert today and discuss how we can help you get the most out of SAP Business One Versago and Bizweaver SAP Business One runs better with Versago and Bizweaver, our innovative portal and business process automation platform for modern operations. Extend the power of SAP with a connected workforce and smart integrated eCommerce, CRM, EDI, and 3PL with SAP Business One.
November 24, 2021 by Tyson McMurren Real-time inventory management helps streamline the supply chain and gain visibility into inventory status at any time. Real-time inventory management is the process of keeping track of inventory sales and purchases using software to trace them as soon as they occur. SAP Business One is ERP software your company can use to realize the benefits of real-time inventory management. Many benefits come with real-time inventory management. Businesses that have not considered venturing into the practice should consider SAP Business One first since it is a viable solution. Real-time inventory management enables the company to prepare for unexpected events, timely restocking of items, quickly respond to demand, and efficient management. Here are a few facts about why you need to integrate real-time inventory management in your business. Why You Should Use SAP Business One SAP Business One can use integrated programs to track the arrival of items and those in transit using barcode scanners connected to the internet. Moreover, it optimizes other functions to simplify inventory management. The following are some of its key features: 1. Scanning of goods SAP Business One scans items and gets detailed information about their movement. You only need scanners and the internet for real-time inventory of data. By digitizing goods, real-time data gets to employees quickly, enabling them to have optimum output. Real-time inventory monitoring is realized simply by using the software due to automated processes. The information collected gets displayed to every system connected to SAP Business One for easy connectivity. Therefore decision-making processes around the company are fast and efficient. 2. Integrate business functions Accounting, warehouse management, production management, and other business functions can all be synced and accessed on the dashboard by SAP Business One. The flow of real-time information within the organization can occur by combining departments. The system usually updates processes such as setting up invoices, shipping information, and much more automatically. 3. Forecasting and using the dashboard SAP Business One provides real-time information for forecasting business operations. The software gives you access to a portion of the company’s operations or the whole picture. For instance, the quick view web client part allows you to search and filter data, which gives you a fast glimpse of what you need about the client like, their balance. You can also use the general overview to look at sales, inventory, gross profit, and other transactions made with the customer. With the available information, you can forecast the future trend of the customer. The software also helps in planning purchases based on sales, item quantity, and demand. It is easy to operate since all the functions are available on the dashboard. 4. Automating sale order entries Handling and entering sales order entries by hand (manually) can be problematic. SAP Business One automates the whole process by linking sales orders and inventory data in real-time. It also allows you to use any device to confirm fulfilled orders and get real-time information on the remaining inventory. Therefore, the process becomes accurate and less time-consuming. 5. Managing stock levels SAP Business One allows up-to-date circulation of information which helps in managing the inventory levels. It gives you detailed information on what is needed and when. You can then order and receive the products before running out of stock. The software can also set reminders for you to avoid unnecessary overstocking of items in the organization. 6. Integrating warehouse solutions with your freight specialist Automating your delivery processes with SAP Business One can help you reduce costs. The SAP Business One software can integrate with freight technologies such as UPS, FedEx, USPS, LTL and many others. Automated deliveries get up-to-date tracking information to ensure they arrive at customers on time. Additionally, they generate automatic reports to aid in making quick decisions. Benefits of Real-Time Inventory Management Real-time inventory management has many advantages for businesses since the information in circulation is often accurate and reliable. Using SAP Business One for real-time inventory management can reap the following instant benefits: 1. Reliable information Since the entire process is automatic, the data is accurate. It gives your employees enhanced visibility of the flow of inventory in the organization. Whether it is peak season, a holiday, or another time when changes in your supply chain need monitoring, it is easy to rest assured that you will always receive reliable information. 2. Saving time and money Real-time inventory management saves you time because you do not need to count items frequently. Furthermore, it allows you to make informed decisions, saving money by preventing errors that could lead to losses. SAP Business One will help mitigate risks related to poor inventory management, saving you money that you can invest in expanding the business. 3. Enhanced scalability SAP Business One will ensure that your supply chain grows to expand your business. Scalability is almost the first advantage businesses experience after integrating the software. 4. Reliable Reporting Inventory management in real-time allows for the quick generation of reports. As a result, management decisions can take place quickly, improving the internal affairs of your enterprise. It also allows your team to respond to sudden changes in demand quickly and effectively. 5. Organizing warehouses A real-time inventory management system helps organize warehouses. The warehouse solution tracks where your products are moving to provide a comprehensive warehouse solution. It also optimizes the workflow in the warehouses to give you a competitive advantage over your business competitors. 6. Improves customer experience Real-time inventory management prevents you from any mix-ups with delivering goods to customers. Customer satisfaction will lead to better reviews for your company which can help attract more customers. It can also enable you to have more transparent business transactions with your customers by sharing the information they need on their deliveries. The tactic can help to improve their customer experience and increase returns for your business. Realize Immediate Benefits and Position For Long Term Success SAP Business One is a powerful software to help you integrate real-time inventory management into your business. It has a lot of innovative features to facilitate your organization in running operations smoothly. Call us today to deploy SAP Business One in your company for scalability and high returns. Innovation at Heart As the most experienced SAP Business One Gold Partner in North America, we help scale and support your business, every step of the way. Our expertise extends beyond SAP Business One and ERP. Our customers enjoy having a single provider for all their needs. No matter how your business system requirements grow and change, we are there to assist you. Third Wave’s implementation process and consulting team has created a customer retention level average of 98.7% year over year and is the only partner to achieve 100% customer retention. We have a 95% implementation success rate. Contact us and see how we can help you get the most out of SAP Business One. Talk to an expert today and discuss how we can help you get the most out of SAP Business One Versago and Bizweaver SAP Business One runs better with Versago and Bizweaver, our innovative portal and business process automation platform for modern operations. Extend the power of SAP with a connected workforce and smart integrated eCommerce, CRM, EDI, and 3PL with SAP Business One.
October 7, 2021 by Tyson McMurren Third Wave and EVO Partner to Create Innovative Payment Processing Third Wave is excited to announce that we have officially integrated payment processing and accounts receivable automation with SAP Business One using our Bizweaver application. SAP Innovation Partner of the year Third Wave collaborated with EVO Payments, a leading payment technology and services provider, to integrate their PayFabric solution with SAP Business One using Bizweaver. PayFabric is a secure cloud-based payment processing solution for merchants and software providers that make it easy to accept and manage payments from anywhere. Click-to-pay and Payment Portal With this latest integration, SAP Business One users can now send a click-to-pay email to their customers to securely process credit card and ACH transactions. Bizweaver integrates transactions between SAP Business One and PayFabric eliminating the manual data entry and delays associated with traditional payment processing. SAP Business One users can also offer their customers a self-service portal where they can log in to view and pay their invoices. For more information on our latest offerings with PayFabric click here Innovation at Heart As an SAP Partner, Third Wave has extended Business One’s functionality with our suite of innovative applications used by more than 1,000 SAP Business One customers worldwide. For over 25 years Third Wave Business Systems has worked with customers to get more out of their ERP systems. Talk to an expert today and discuss how we can help you get the most out of SAP Business One Our Philosophy As North America’s longest-standing SAP Business One Partner we’ve literally been with our customers every step of the way and are deeply passionate about their success. Our leadership team ensures each SAP Business One customer benefits from both our implementation discipline and creative problem solving to support their current and future needs.
September 3, 2021 by Tyson McMurren SAP Business One users are asking if there is a better way to handle container management. The time it takes to reconcile, update purchase orders, unload the container and update key users on status of containers leads to unnecessary work and lack of visibility and control. Centralize Information and Automate Processes At Third Wave we work with numerous importer/distributors and delivered functionality to meet their specific needs. Most times the needs analysis included some or all of the same requirements for SAP Business One Container Management: Consolidation of multiple PO’sThis consolidation might be with multiple vendorsThis consolidation might not be the full quantity of the PO lineCentralizing all information, below are examples of information users want to captureBrokerCarrierContainer IDStatusPlanningShippedAt PortClearedReceivedCompleteCountry of originDestination PortShip viaDatesDeparturePort arrivalEstimated receiving dateNotesNumber of piecesTotal weightTotal volumeEstimated landed costsEstimated landed costsAutomate the update PO line dates with estimated receiving dateAutomate the movement of stock into warehouses or bins based on statusAutomate Goods Receipt PO’s Automate the creation of stock transfer requests automatically for WMS put away Third Wave has created an SAP Business One Container Management solution to deliver solutions to our customers looking for some or all of the above functionality. The creation and updating of information based on status and dates have automated processes that before were time-consuming and required multiple emails to be passed within the organization. The visibility and centralization of information have improved communication, increased control, decreased unloading times, and increased satisfaction of employees and customers. Talk to an expert today and discuss how we can help you get the most out of SAP Business One Our Philosophy As North America’s longest-standing SAP Business One Partner we’ve literally been with our customers every step of the way and are deeply passionate about their success. Our leadership team ensures each SAP Business One customer benefits from both our implementation discipline and creative problem solving to support their current and future needs.
