Welcome!

News Feed Item

en-terpret.co Provides Ten Tips for Small to Medium-Sized Businesses to Plan for Year End and Beyond

en-terpret.co Provides Ten Tips for Small to Medium-Sized Businesses to Plan for Year End and Beyond

CHICAGO, IL -- (MARKET WIRE) -- 12/14/06 -- Technology firm en-terpret.co, which provides consulting services to small and medium-sized businesses throughout the U.S., Canada and Australia, just released a list of ten things businesses can do to plan for the year end and beyond. The tip sheet was created because small business owners typically are called to wear many hats, making end of the year procedures and duties overwhelming. "Our hope is that these tips will not only help them to sail smoothly through this year end, but also will get them thinking of future ways to help their business grow," states Daniel Harris, Principal of en-terpret.co.

The ten tips include:

1. Run Year-End Procedures. -- While most small businesses are able to run monthly accounting procedures without much trouble, year-end processes are an entirely different ball of wax. This is not something that is done on a regular basis, therefore it is easy to miss a step or overlook important details. Create a checklist of system requirements and double check it with your systems advisor and accountant. Year end can be especially tricky if you made upgrades to your system over the past year. Verify how upgrades might alter your year-end procedures with the software's manufacturer.

2. Database Maintenance. -- These days keeping a database up-to-date and running smoothly are crucial to anyone doing business. Not only is it important to run a database integrity check to ensure that it is up-to-date, it is imperative to check that back-up systems run properly. In some cases it is also necessary to rebuild the database files and index.

3. Make A SAFE Copy Of Your Data. -- At a minimum, put your data on a tape (be sure to check that you have extra tapes). If you are currently saving data to tape, now might be a good time to consider upgrading to a DVD or CD. Magnetic tapes are not foolproof, and do not have a long storage life. In fact, tapes are not a good medium for "permanent storage."

4. Store Software with Year-End Data. -- To say that technology is changing at warp speed is no surprise. But, many businesses don't take this into consideration when they back up year-end data. Make sure to retain a copy of the software the records were created in and store it with the data. If you need to access it in the future and have upgraded your software, newer releases of software may not be capable of directly accessing the older data.

5. Go Forward While Looking Backward. -- Your company will probably need to start transacting business in the new fiscal year while still running reports in the old year. Make a copy of your data to ensure that you can access the old year and still conduct business in the present. Make certain that your accounting systems will allow the posting of entries in the prior period so your accountant is able to make prior year changes.

6. What Reports Does Your Accountant Need? -- Every year financial advisors require year-end reports in order to prepare tax returns. Inquire about what reports they need for their analyses. By giving them exactly what they need, you will save everyone time and might save your company money.

7. Update and Create Custom Reports. -- Give some thought to the reports you need to run and the data you need to keep or update to make your job easier in the coming year. Perhaps it is the margin or billing rates for each client or last year's sales per client. While you have the ability to look up all this information by going through a storeroom of files, wouldn't it be easier if it was right at your fingertips on your desktop?

8. Review The Previous Year. -- In order to remain competitive it is extremely helpful to review your progress against that of similar businesses. Often this process will require a variety of special reports. Consider having these reports customized and incorporated into your financial systems so that you can easily continue to make comparisons and monitor your progress.

9. Create A Records Retention Policy. -- While everyone is familiar with the retention of paper records, often the storage of electronic data gets overlooked. Perhaps your company has never thought about these files... but in this case, what you don't know could hurt your business. Develop a records retention policy for your full range of electronic data. For example: determine if you need to keep or purge old email records or to destroy year-end tape(s) from years ago. Make sure you keep only what is needed to conduct business in the present and is legally required for past history. Also, now is the time to think about where electronic files are stored. Make sure there is a back-up copy kept off-site.

10. Consider important and up and coming technologies or strategies for 2007 such as:

--  Disaster Recovery Plans -- A disaster recovery plan will be your
    lifeblood if the unforeseeable ever happens.  For example, what would you
    do if you had a fire or flood in your location?  If you don't have a
    disaster recovery plan, now would be a good time to develop one.  If you
    have one, plan a day to conduct a test to ensure that you are ready.

--  Radio Frequency Identification (RFID) -- The wave of the future with
    this evolving technology plants radio "tags" on every piece of inventory
    allowing a receiver to fully track and account for its movement.  Is this
    something that would help you account for inventory in a more productive
    manner?

--  Remote Access and Wireless Technology -- These state of the art
    technologies provide the benefit of anywhere anytime use.  Are you in need
    of more flexibility in your working environment?  Do you have employees
    working from home?  Are your sales people set up for maximum efficiency?
    This technology might be just what you are looking for!
    

Anyone in business should consider these year-end tasks and processes for accounting systems, computer systems as well as other functions that will make your business run smoothly.

About en-terpret.co -- Founded in 2000, en-terpret.co provides system consulting services for small to medium-size business. They supply strategic and tactical technology consulting services, design and implement solutions for their clients. Specializing in knowledge management, they help their client achieve business goals by creating the most effective technical applications to maximize intellectual capital.

FOR MORE INFORMATION CONTACT
Daniel Harris
773-868-4381
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
There's no doubt that blockchain technology is a powerful tool for the enterprise, but bringing it mainstream has not been without challenges. As VP of Technology at 8base, Andrei is working to make developing a blockchain application accessible to anyone. With better tools, entrepreneurs and developers can work together to quickly and effectively launch applications that integrate smart contracts and blockchain technology. This will ultimately accelerate blockchain adoption on a global scale.
Despite being the market leader, we recognized the need to transform and reinvent our business at Dynatrace, before someone else disrupted the market. Over the course of three years, we changed everything - our technology, our culture and our brand image. In this session we'll discuss how we navigated through our own innovator's dilemma, and share takeaways from our experience that you can apply to your own organization.
DXWorldEXPO LLC announced today that Nutanix has been named "Platinum Sponsor" of CloudEXPO | DevOpsSUMMIT | DXWorldEXPO New York, which will take place November 12-13, 2018 in New York City. Nutanix makes infrastructure invisible, elevating IT to focus on the applications and services that power their business. The Nutanix Enterprise Cloud Platform blends web-scale engineering and consumer-grade design to natively converge server, storage, virtualization and networking into a resilient, softwar...
Founded in 2002 and headquartered in Chicago, Nexum® takes a comprehensive approach to security. Nexum approaches business with one simple statement: “Do what’s right for the customer and success will follow.” Nexum helps you mitigate risks, protect your data, increase business continuity and meet your unique business objectives by: Detecting and preventing network threats, intrusions and disruptions Equipping you with the information, tools, training and resources you need to effectively m...
Having been in the web hosting industry since 2002, dhosting has gained a great deal of experience while working on a wide range of projects. This experience has enabled the company to develop our amazing new product, which they are now excited to present! Among dHosting's greatest achievements, they can include the development of their own hosting panel, the building of their fully redundant server system, and the creation of dhHosting's unique product, Dynamic Edge.
The Transparent Cloud-computing Consortium (T-Cloud) is a neutral organization for researching new computing models and business opportunities in IoT era. In his session, Ikuo Nakagawa, Co-Founder and Board Member at Transparent Cloud Computing Consortium, will introduce the big change toward the "connected-economy" in the digital age. He'll introduce and describe some leading-edge business cases from his original points of view, and discuss models & strategies in the connected-economy. Nowad...
"DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited to help the great team at @DevOpsSUMMIT and CloudEXPO tell the world how they can leverage this emerging disruptive trend."
For far too long technology teams have lived in siloes. Not only physical siloes, but cultural siloes pushed by competing objectives. This includes informational siloes where business users require one set of data and tech teams require different data. DevOps intends to bridge these gaps to make tech driven operations more aligned and efficient.
NanoVMs is the only production ready unikernel infrastructure solution on the market today. Unikernels prevent server intrusions by isolating applications to one virtual machine with no users, no shells and no way to run other programs on them. Unikernels run faster and are lighter than even docker containers.
CloudEXPO | DevOpsSUMMIT | DXWorldEXPO Silicon Valley 2019 will cover all of these tools, with the most comprehensive program and with 222 rockstar speakers throughout our industry presenting 22 Keynotes and General Sessions, 250 Breakout Sessions along 10 Tracks, as well as our signature Power Panels. Our Expo Floor will bring together the leading global 200 companies throughout the world of Cloud Computing, DevOps, IoT, Smart Cities, FinTech, Digital Transformation, and all they entail. As ...
Darktrace is the world's leading AI company for cyber security. Created by mathematicians from the University of Cambridge, Darktrace's Enterprise Immune System is the first non-consumer application of machine learning to work at scale, across all network types, from physical, virtualized, and cloud, through to IoT and industrial control systems. Installed as a self-configuring cyber defense platform, Darktrace continuously learns what is ‘normal' for all devices and users, updating its understa...
Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throughout enterprises of all sizes. We are offering early bird savings...
SUSE is a German-based, multinational, open-source software company that develops and sells Linux products to business customers. Founded in 1992, it was the first company to market Linux for the enterprise. Founded in 1992, SUSE is the world’s first provider of an Enterprise Linux distribution. Today, thousands of businesses worldwide rely on SUSE for their mission-critical computing and IT management needs.
The dream is universal: heuristic driven, global business operations without interruption so that nobody has to wake up at 4am to solve a problem. Building upon Nutanix Acropolis software defined storage, virtualization, and networking platform, Mark will demonstrate business lifecycle automation with freedom of choice and consumption models. Hybrid cloud applications and operations are controllable by the Nutanix Prism control plane with Calm automation, which can weave together the following: ...
Crosscode Panoptics Automated Enterprise Architecture Software. Application Discovery and Dependency Mapping. Automatically generate a powerful enterprise-wide map of your organization's IT assets down to the code level. Enterprise Impact Assessment. Automatically analyze the impact, to every asset in the enterprise down to the code level. Automated IT Governance Software. Create rules and alerts based on code level insights, including security issues, to automate governance. Enterpr...