Red Wing Software Blog

Business insight to help you stay profitable and move ahead

Welcome Guest

Go to Home Page  |  Share

Can the Addition of Inventory Management Software Save You Money?

clock January 14, 2015 3:23 PM by author StephanieE

Several years ago we wrote the blog post: Ten Signs Your Company is Ready for an Inventory Management System. Are you still trying to get by without an inventory management system? Well, here’s further proof that inventory management software can help your business.

In a recent report released by Forrest Burnson at Software Advice, a digital consultancy, there is evidence that theft can be prevented with the use of an inventory management system. Having done a comprehensive study*, here are the key findings they came up with:

  1. Twenty-eight percent of employees whose stores use inventory management software say internal theft is a problem, compared to 37 percent of those whose stores use other methods for managing inventory.
  2. Fifteen percent of employees whose stores use inventory management software admit to stealing from their store, versus 22 percent of employees whose stores use other methods.
  3. Only 37 percent of small “mom and pop” stores are using inventory management software, versus 53 percent of local and regional retail chains and 85 percent of national retail chains surveyed.

  4. I had the opportunity to ask Forrest some questions about this report, and he weighed in on the subject for Red Wing Software customers. Here’s what he had to say.

    • Question:

      Does inventory management software actually deter theft?
    • Answer:

      “While a computer program won't necessarily deter employee theft, it will give you the resources to ensure that your inventory is properly accounted for. When your inventory is properly accounted for on a consistent basis, there's less of a chance that bad behavior will be able to fly under the radar.”

    • Question:

      What kind of business can benefit the most from moving to inventory management?
    • Answer

      “Regardless of what kind of business you have, it's important to protect your assets. From small businesses to larger enterprises, every company can benefit from implementing inventory management software. As you can see in the below graphic from our report, at least 60% of respondents from each type of store see employee theft as a problem to some degree. Using this software is an easy way to give you a better sense of security."
    • Theft a problem Graph
    • Question:

      What is the most significant improvement businesses experience when moving from paper and pencil to inventory management software?
    • Answer:

      "It's important for item-based small business owners to realize that while inventory management software might seem unnecessary or time-consuming to maintain, it will actually save you time—and money—in the long run. It increases your inventory visibility by standardizing your records and it can help you identify where shrinkage is occurring when you perform cycle counts."

    Researcher Bio

    Forrest Burnson - Market Research Associate  Software Advice

    Forrest Burnson is a Market Research Associate at Software Advice, where he covers the construction, inventory management and supply chain markets. He graduated in 2011 from the University of the South with a degree in political science and French studies. In 2013, he graduated from the University of Texas with a master’s degree in journalism. During his second year of graduate school, Forrest was a fellow for News21.

    Prior to joining Software Advice, he was a writer and researcher for Global Water Intelligence. He has also written for a number of other outlets, including the Texas Tribune, the Austin Business Journal, Market News International and the Austin American-Statesman.


    *To find the data in the mentioned report, Software Advice conducted a seven-day online survey of six questions, and gathered 385 responses from random retail employees within the United States. All survey questionnaires undergo an internal peer review process to ensure clarity in wording. If you have comments or would like to obtain access to any of the charts above, please contact forrest@softwareadvice.com.



Red Wing Software Customers: View the Most Current Tax Tables

clock January 9, 2015 9:00 AM by author StephanieE

Customer Care members who are logged into the web site can click here to view and download the most current tax table updates. If you are not a Customer Care member and would like to receive tax updates, call 1-800-732-9464 for more information.



Year-End Tax Forms

clock January 7, 2015 9:11 AM by author StephanieE

We would like to suggest the forms, perforated paper, and envelopes that you may need to purchase for processing W-2s and 1099s. Forms, perforated paper, and envelopes can be purchased from Computer Forms, Inc. at redwing.computerforms.biz, by calling 800-458-0158, or by clicking the Order Checks and Forms button on the Red Wing Software web site.

Perforated paper and envelopes can be purchased separately or as a package (Tax Pack). Ordering a Tax Pack will save you money and your savings increase based on the quantity you order in a Tax Pack.

If you order on the Computer Forms, Inc. web site, select Tax Forms, select the product you use, for example AgCHEK, CenterPoint, Red Wing Payroll, Perception, TurningPoint, or Controller, and then select Laser 1099s or Laser W-2s to display the 1099 or W-2 forms, perforated paper, and envelopes. If a Product Number is not displayed on the web site for your product, the form has been discontinued and is not necessary.

The W-2 and 1099 forms (excluding the Federal Red Copy) can be printed on the same plain perforated paper (if you choose to order the blank perforated paper with no backer instructions) and use the same envelope. Note: You can print the W-2 and 1099 forms on plain paper, but the IRS recommends the forms be printed on perforated paper. The W-3 can be printed on blank plain paper.

If you will be printing your W-2 forms this year rather than using the Complete W-2 eFiling Service through Aatrix, we suggest the following options:

W–2 Forms and Envelopes

  • Option A: Order blank perforated forms and envelopes with nothing printed on the back of the forms
    • 4-Up Blank W-2/Blank 1099 with no backer instructions – Product Number - L4BLNB
    • Envelopes - Double Window Standard Seal, Product Number - DWEW2-4UP or Double Window Self Seal, Product Number - DWEW2-4UPS
  • Option B: Order blank perforated forms and envelopes with instructions printed on the back of the forms
    • 4-Up Blank W-2 with backer instructions – Product Number - L4BL
    • Envelopes - Double Window Standard Seal, Product Number - DWEW2-4UP or Double Window Self Seal, Product Number - DWEW2-4UPS
  • Option C: Order perforated forms and envelopes as a package (Tax Pack)
    • 4-Up Blank W-2 with backer instructions and Double Window Standard Seal Envelopes – Product Number TPL4BL-EFILE
    • 4-Up Blank W-2 with backer instructions and Double Window Self Seal Envelopes – Product Number TPL4BL-EFILES
    • 4-Up Blank W-2 with no backer instructions and Double Window Standard Seal Envelopes – Product Number TPL4BLNB-EFILE
    • 4-Up Blank W-2 with no backer instructions and Double Window Self Seal Envelopes – Product Number TPL4BLNB-EFILES

    Although the Tax Pack contains a preprinted W-3 Transmittal form, it is not necessary to use the preprinted form. The W-3 form can be printed on blank plain paper.

  • Option D: Use the Complete W-2 eFiling Service through Aatrix
    • No forms are needed because Aatrix does all the printing and filing for you.

If you will be printing your 1099 forms this year rather than using the Complete 1099 eFiling Service through Aatrix, order from the following preprinted Federal Copy and 1099 Transmittal forms and 1099 form and envelope options:

1099 Federal Copy and 1099 Transmittal

  • 1099 preprinted forms (Red Copy) for use when printing the Federal Copy of the 1099s.
    • 1099 Miscellaneous Federal Copy A – Product Number LMA
    • 1099 Dividend Federal Copy A – Product Number LDA
    • 1099 Interest Federal Copy A – Product Number LIA
    • 1099 PATR Federal Copy A – Product Number LPA
    • 1099 R Federal Copy A – Product Number LRA
  • 1096 preprinted form (Red Copy) for use when printing the Federal 1096 form.
    • 1096 Laser Transmittal – Product Number L1096

1099 Forms and Envelopes

  • Option A: Order blank perforated forms and envelopes with nothing printed on the back of the forms
    • 4-Up Blank 1099/Blank W-2 with no backer instructions – Product Number L4BLNB
    • Envelopes - Double Window Standard Seal, Product Number - DWEW2-4UP or Double Window Self Seal, Product Number - DWEW2-4UPS
  • Option B: Order perforated forms and envelopes as a package (Tax Pack)
    • 4-Up Blank 1099/Blank W-2 with no backer instructions and Double Window Standard Seal Envelopes – Product Number TPL4BLNB-EFILE
    • 4-Up Blank 1099/Blank W-2 with no backer instructions and Double Window Self Seal Envelopes – Product Number TPL4BLNB-EFILES
  • Option C: Order perforated forms, 1099 preprinted form
    (Red Copy – 1099-MISC or 1099-INT), and envelopes as a package (Tax Pack)
    • 4-Up Blank 1099/Blank W-2 with no backer instructions, 1099 Miscellaneous Federal Copy A, and Double Window Standard Seal Envelopes – Product TPL4BLMISC-EFILE
    • 4-Up Blank 1099/Blank W-2 with no backer instructions, 1099 Miscellaneous Federal Copy A, and Double Window Self Seal Envelopes – Product TPL4BLMISC-EFILES
    • 4-Up Blank 1099/Blank W-2 with no backer instructions, 1099 Interest Federal Copy A, and Double Window Standard Seal Envelopes – Product TPL4BLINT-EFILE
    • 4-Up Blank 1099/Blank W-2 with no backer instructions, 1099 Interest Federal Copy A, and Double Window Self Seal Envelopes – Product TPL4BLINT-EFILES
    • 4-Up Blank 1099/Blank W-2 with no backer instructions, 1099 Dividend Federal Copy A, and Double Window Standard Seal Envelopes – Product TPL4BLDIV-EFILE
    • 4-Up Blank 1099/Blank W-2 with no backer instructions, 1099 Dividend Federal Copy A, and Double Window Self Seal Envelopes – Product TPL4BLDIV-EFILES
  • Option D: Use the Complete 1099 eFiling Service through Aatrix
    • No forms are needed because Aatrix does all the printing and filing for you.


CenterPoint and Microsoft XP/Microsoft Server 2003

clock January 5, 2015 12:40 PM by author StephanieE

Red Wing Software is discontinuing support for CenterPoint products installed on computers using the Microsoft Windows XP and Microsoft Server 2003 operating systems on December 31, 2015. The last payroll tax table updates for the XP and Server 2003 compatible versions (8.32 and earlier) will be for the 2015 tax year. CenterPoint is fully supported on newer operating systems. To view the PC operating systems CenterPoint is compatible with, click here and for a list of compatible server operating systems click here.

If you have questions, feel free to contact Red Wing Software at 1-800-732-9464, or e-mail: support@redwingsoftware.com



Red Wing Software - Notes from the President

clock January 5, 2015 12:25 PM by author khilton
Ken Hilton - President Red Wing Software

As you are likely aware, this is an extremely busy time of year at Red Wing Software. In addition to the normal support calls we receive as our clients finish their year-end transactions and get ready for the New Year with payroll tax table and forms updates, our representatives in Washington, DC threw a couple new items onto our list.

Anticipated legislation was passed that restored the Section 179 expenses to their previous level for the remainder of 2014 (with a few caveats), and then revert back again on the first of 2015. This, of course, caused a last minute change to our CenterPoint Depreciation program that needed to be released before the end of 2014.

Also, 2015 brings in some new requirements for the Affordable Care Act for most of our clients. There is new data that needs to be tracked for 2015, and then reported at the beginning of 2016. Even though this information is not really payroll data, but rather Human Resource information, we decided to add functionality to our CenterPoint Payroll program to capture this information and provide it for the new 1095C and 1094C forms, as well as the employee W-2 form. This functionally will be released in the second quarter of 2015, and will cover the entire year so you can complete the new forms in 2016.

In addition, there are several customers using two of our legacy products (Perception and AgCHEK), and are now migrating to our newer CenterPoint Accounting program as we will stop support of those products on March 31, 2015. As our customers begin using these new-to-them products, we anticipate receiving a few more calls than usual at this time of year.

And finally, we just released a brand new product, Red Wing Tax Forms. This program allows employers and service bureaus that do not already use our accounting and/or payroll products to manually enter year-to-date payroll and other information for easily completing and eFiling many forms including W-2, 941, 943, and several 1099s. You can check our web site or contact a sales consultant for more information on this new offering.

All of us at Red Wing Software hope you had a pleasant holiday season and enjoy a safe and profitable New Year.

- Ken Hilton, President



Calendar

<<  January 2015  >>
MoTuWeThFrSaSu
2930311234
567891011
12131415161718
19202122232425
2627282930311
2345678

View posts in large calendar