Are you currently using payroll software to process your payroll? Although there are various ways of paying employees such as direct deposit and debit cards, many businesses still use checks to pay some or all of their employees. There are two ways you can print your payroll checks: with blank check stock or on preprinted forms.

If you choose to print on blank check stock, you must use MICR or "Magnetic Ink Character Recognition" ink, a magnetic ink that can be detected by check processing machines. On the other hand, using preprinted forms does not require you to have any special ink for your printer, since the forms are already printed appropriately and shipped to you that way.

Flexibility

The biggest benefit to printing on blank check stock is the flexibility you gain. If you need to make changes to the way your checks look, you can do so at any time and not worry about having to throw out the preprinted checks that are sitting there in boxes. Another advantage is the ability to print checks from multiple bank accounts, as all the bank information is printed on the blank stock by the software. This is particularly handy if you are printing checks for several companies since you won't need to order checks for each company. Printing on blank check stock also allows you to print signatures on your checks, helpful in the case that the check signing party is away or simply unable to sign checks.

Convenience

Using preprinted checks may be more convenient for some companies, since it is fairly simple to order the correct checks for your software, and then keep ordering the same product from your vendor. This option is best for companies who are fairly certain they will not require any changes to the look of their checks. Using blank check stock is also easy once you get it set up, but keep in mind you will still need to keep enough of the special MICR ink in stock.

Green Factor

Obviously, printing checks takes paper, no matter which method you choose to use. You can save paper and money by planning in advance for changes that might require you to purchase new checks and toss out the outdated preprinted ones. If you know about such changes in advance, a good idea is to begin using blank check stock, so that when the change is made, only your check design will need t be changed.

Choosing the right method of check printing for your business can save you valuable time and money!

Creating a budget for your farming operation may seem like a daunting task at first, but it can make a big difference in the profitability of your operation. You can choose to create a budget by hand, by using a spreadsheet, or you can use your farm accounting software to help you. Either way, the outcome remains the same: increased confidence in decision making and increased profits for your farm.

A budget provides guidelines to help you organize and control your financial resources and also helps you uncover your operation's strengths and weaknesses. Have you ever come face to face with a large purchasing decision, and then made that decision based more on emotional "wants" and not on the actual business need? If so, you are not alone. Unfortunately, this method of making purchases does not take into consideration every aspect of your farming operation. By setting up and following a budget, your purchasing and buying decisions can be made more confidently, and can keep your operation growing strong.

The process of managing a budget involves examining your historical data, to show you which areas in your operation are generating the most profit and which areas need attention. With this information you can easily make long-range projections and increase your profits through better decision making.

A budget also helps you gain control of your finances and gives you the tools you need to project future cash flow and helps you manage your assets and liabilities. A budget helps answer the "what if" scenarios such as buying more land, expanding a crop, purchasing new equipment, etc. Planning your future business strategies becomes easier with the information a well thought out budget can provide.

Creating a budget can provide smart decision making for your farming operation, which can lead to more confidence and increased profits.

There are so many little things that add up to big things, when it comes to going green. Here are some simple tips on going green that just about anyone can start up at the office.

Get a paper bin

Regardless of your job title, you are sure to deal with paper every single day. Maybe it’s trade magazines or company reports, or whatever else it is that lands and piles up on your desk in paper form. You might just be shocked how much you throw away, until you get a box or bin to collect the paper. Once the box is full, take it out the recycling bin. (Note: Be sure to shred the items you might even remotely consider confidential or sensitive.)

Replace water bottles with filtered water

You might think recycling your water bottles solves the eco- issue of drinking bottled water. But really, the existence of the bottle itself takes energy, transportation and raw materials. Drinking filtered tap water in a reusable container saves on bottles and cups, and can really make a difference for our environment!

Email documents instead of printing them

Most of us have documents to create, read and disburse in our jobs. Think about all of the things you print out when you could be e-mailing instead: financial documents, requests for time off, expense reports, meeting notes, price sheets, marketing pieces, and the list goes on! When possible, e-mail those documents instead of printing them. Many of them end up in the recycling bin or shredder anyway!

Sign up for paperless billing

Paperless billing is a little tough to start because we are used to having something tangible to organize and prioritize. However, using paperless billing can save on paper and energy. Don’t forget, it also takes energy to deliver the mail that contains your bills, etc. Sign up for paperless billing, create an organization system within your computer, and you will contribute greatly to helping our environment!

1. Integrate Order Entry

   Do your processes include writing down your customers' orders, only to have somebody else enter the information again to create an invoice? If so, you are spending more money and time than necessary by paying two people to do virtually the same job. You can save time and increase the accuracy of your orders by implementing order entry into your system. Using order entry allows one person to enter and save an order, and that same order can then be turned into an invoice when ready. You will save money, and also reduce human error, increasing customer satisfaction.

2. Automate the selling of different units of measure.

   Some customers want a case, others want a whole pallet, and still others only want one of that same item. Sound familiar? Do you have to 'trick' your software into handling this scenario, or end up doing inventory adjustments? You can solve this costly problem by setting up one inventory item with multiple units of measure. By setting up the selling units you need for each item, you can have your system calculate how many you have in stock by unit, and you can easily buy, sell and stock your items how you choose. This can save you significant time and will also give you a more accurate picture of how many items you really have in stock. Most importantly, you can quickly tell your customer how many you have available in the unit of measure they choose.

3. Set up and use assemblies to build or 'kit' items

   Do you put several items together and sell them as a kit? Or, do you manufacture something composed of many raw materials? Do you endure the painstaking process of entering each piece of the final item separately into your accounting system? If so, you can drastically cut down on time and increase accuracy by setting these items up as 'assemblies'. Setting up an assembly allows you to place a finished product on an order, and it will take all of its components out of stock for you behind the scenes. This cuts down on data entry and keeps your inventory counts and costs accurate.

4. Take physical inventory more often

   Having an accurate count of the items in your inventory can save your company money, and your customers will be happy to get a quick and accurate answer on whether an item is available. You can make your physical inventory process easier by using a system that allows you to keep selling products while you take counts. The sales staff is happy because they can keep selling, the warehouse manager is happy because the counts are accurate, and the customer is happy to receive accurate information in a timely manner.

5. Track inventory by location

   Is that item in the back warehouse? On the retail floor? Or is it out on one of the delivery trucks? If you store items in more than one location, you should quickly be able to see exactly where it is by location. You can accomplish this by setting up more than one inventory location in your software. If you have the ability to set up unlimited inventory locations, you can even set up (for example) a delivery truck as its own location. Setting up multiple warehouses saves you time searching, and can also reduce costly shrinkage.

6. Automate tracking of serial and lot-numbered items

   Still tracking your serial or lot-numbered items on paper or in a spreadsheet? Not only does this make the receiving of those items time-consuming, there is no trail associating your customers with the serial or lot numbers for the items they purchase. You can set up your system to capture and store the serial or lot numbers for your inventory upon receipt. Then when you enter your customers' orders, you can choose which serial/lot numbers they have purchased. Your company will save significant time by keeping track of those numbers in one system, and you'll keep your customer happy by being able to quickly access which serial or lot numbers for the items they have purchased. This also helps you keep easy track of warranty information.

7. Let your software system keep track of customer pricing

   Are you tired of flipping through files to find what your customer paid last time, only hoping that the page on top is the most up-to-date? You can eliminate this hassle by setting up your customer pricing in your software system. By setting up customer pricing in the software, you will ensure better accuracy, keeping your customers happy, and you'll also save yourself wasted time and hassle.

8. Track profitability of inventory items

   How easy is it for you to see which items are the most profitable? How do you know that the items you promote or sell the most are bringing in the most revenue? With the ability to run reports showing profitability (Gross Profit Margin) by each individual item, you can check often to be sure you are selling the right items. By easily accessing this information, you can focus your sales and marketing departments on selling and promoting the most profitable items, enabling you to improve your bottom line.

9. Enter purchase orders from order entry

   Have you ever run out of an item, and forgot to put it on order for your customer? You can have your system prompt you to enter a purchase order directly from the order entry screen. By doing this, you will be sure to get the items for your order, keeping your customer happy. You will also save time by taking care of both functions at once.

10. Know which items you have so you can keep just the right number in stock

    Are you surprised when you run out of an item? Or how about when you find a huge overstock? Set up your system to keep a minimum and maximum amount for each item. Then you can easily run a report at any time, showing what you are running low on so you can order more before you run out. You can be sure you don't waste valuable shelf space by overstocking any items. This will streamline the purchase order process too, saving your company hours of time.

Ah, the 80/20 rule. I am sure that at some point in your business or personal life, you have heard of it. Also known as the “Pareto Principle”, this rule says that for many events, roughly 80% of the effects come from 20% of the causes. We do use this rule here at Red Wing Software within our software products. When applied to product inventory, the rule says that 80% of your sales are from 20% of your inventory items. Knowing which items of the 20% are garnering the most sales can be crucial to growing your profits. That's where ABC analysis can come in handy. An ABC analysis within your accounting program can show you which items are most profitable. Our accounting software offers ABC analysis, which is an excellent tool for businesses.

But all science and math aside, have you ever noticed that the 80/20 rule can also apply to real life? As I think of my life, I can think of a few examples of where this rule might apply. For instance, about 80% of my free time is spent watching hockey and transporting my son to games. Yet when I originally signed him up, I would have thought it to be much less time consuming. My son’s hockey really only constitutes about 20% of the ways I love to spend my free time. Therefore, my surprisingly full and hockey-packed free time fits with the 80/20 rule!

What are some examples of the 80/20 rule in your life? Answers need not be serious or technical.