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The Resource Newsletter - May 2016
for Microsoft Dynamics GP and Intacct Customers
Happy Memorial Day!
 
The Resource Group wishes you and your loved ones a safe and happy Memorial Day weekend. In honor of the holiday, our offices with be closed on Monday, May 30. We will reopen at 8 am PT on Tuesday, May 31.
 
Microsoft Support will be closed on Monday, May 30, and will reopen at 8 am CT on Tuesday, May 31.
 
The Resource Group Named Intacct Q3 Partner

The Resource Group has been named as Intacct’s Q3 Partner. The Partner of the Quarter recognition is awarded quarterly to an Intacct Partner based on demonstrated achievement with Intacct.

“Since becoming an Intacct Partner in 2013, The Resource Group has helped companies to take advantage of Intacct’s cost effective and scalable accounting solution,” said Marty Schillaci, CEO of The Resource Group. “We are honored by this recognition, and look forward to helping companies implement Intacct’s user-friendly ERP solution.”

 
 
Record Attendance at RG Connect 2016 

The Resource Group had record attendance of 170 at RG Connect 2016, making it our most successful customer conference to date. The theme for this year's event, which was held at The Meydenbauer Center in Bellevue, WA, was "Breakthrough to Excellence." The day-long conference is designed to help our clients use technology, software and innovation to achieve business success. Click here to download this year's presentations.

 
Upcoming Webinars
Got Workflow?
June 16 | 10 am PT
 
Let The Resource Group show you how Intacct can put the power of automated workflows in your hands.
 
Learn how built-in, electronic approval capabilities provide you the ability to see the complete history of a transaction, not only allowing you to put in place proper accounting controls, but creating complete visibility into your system.
 
Dashboards Made Easy with Intacct Cloud ERP
July 14 | 10 am PT
 
We’ll show you how simple it is to create dashboards that pull information directly from the ERP system into intuitive, informative and useful formats of your choosing.
 
We’ll create a Dashboard together that contains Key Performance Indicators (KPIs), graphs, charts and reports, allowing us to drill-down to the underlying data directly from any one of these components.
 
View all of our upcoming events and webinars!
 
Intacct Launches Industry’s First Automated Solution to Address New Revenue Recognition Guidelines Created by ASC 606 and IFRS 15
Intacct recently announced the launch of Intacct Contract and Revenue Management. The new offering marks the industry's first automated solution to help companies navigate the complexities created by the upcoming ASC 606 and IFRA 15 revenue recognition guidelines, which otherwise could burden and overwhelm finance terms with the most sweeping accounting changes in over a decade. 

Intacct Contract and Revenue Management is a new module for Intacct’s cloud enterprise resource planning (ERP) solution that fully addresses all the upcoming rules for revenue reallocation and expense amortization—using automation, not spreadsheets and a lot of accountants’ time. This comprehensive solution provides out-of-the-box functionality that reduces dependence on IT resources and doesn’t require complicated scripting.
Mandatory Change is Coming – The New Accounting Guidelines
 
Starting in 2018 for public companies and 2019 for private companies, ASC 606 and IFRS 15 revenue management guidelines from the Federal Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) will require companies to reallocate revenue each time a customer contract changes and defer expense recognition to align with the contract’s delivery. As a result, contract add-ons and renewals must be integrated into a single contract and will trigger reallocations across both past and future periods—causing continuous revisions to revenue allocations and expense alignment.

Although the new accounting standards go into effect in 2018, the influence of the new guidelines will impact companies much earlier, as any customer contract that extends beyond the start date will be effected. For example, a public company using two-year contracts would be impacted immediately. Furthermore, most companies will need to recast prior-period financial statements using the new guidelines in advance of the start date in order to provide proper comparative and future guidance to investors.

In a recent Intacct survey of 320 finance executives at mid-sized companies, less than 10 percent of respondents had started to take the necessary steps to address the new standards. In addition, nearly half (47%) said that implementing the new requirements into their financial system or revenue recognition spreadsheets would be their biggest challenge to addressing the new rules.

 
Microsoft Dynamics GP Tip and Trick of the Month
Financial Management Module - Allow Account Entry
Financial Page – CARDS-FINANCIAL-ACCOUNT
 
Disable the ‘Allow Account Entry’ checkbox on the Account Maintenance window to prevent users from entering journal entries against specific accounts to maintain the integrity of sub-ledger reconciliations.
 
Intacct Tip and Trick of the Month
It’s easy to have multiple windows open in Intacct (e.g. an AP Bill Entry screen and a Journal Entry screen). Simply press Alt-D and then Alt-Enter.  The great thing about this is that it does not consume an additional license.
 
Get Ready for Intacct Advantage
Oct. 24 - 28, 2016 | Orlando, FL
Save the Date: GPUG Annual Summit
Oct. 11-14 | Tampa, FL
Join The Resource Group team in Orlando for the Intacct Advantage Conference. You won't want to miss the premier event for Intacct customers and partners to discover what's new, learn new capabilities, and gain strategic insights. Learn how to gain even greater value, efficiency, productivity, and performance from your Intacct implementation. Learn more.
GPUG Summit 2016 will include 200 user-led, role-based educational sessions covering current and past versions of Dynamics GP. With over 1,000 Dynamics users, partners and industry expected to attend, Summit also provides a unique opportunity to make resourceful connections with Dynamics peers in the same role, industry and geography. Learn more.
 
Why Intacct Cloud Financials Might Be Right for You
 

Considering a move to a cloud ERP solution? Watch our video to learn why Intacct cloud financials might be right for your organization.

Dynamics GP 2016 Web Client is Accessible Across all Devices
by Kayla Schilling, The Resource Group
 
Microsoft is set to release Dynamics GP 2016 in the beginning of May. One of the improvements is moving the web client off of Silverlight to HTML5. Read on.
 
Dynamics GP and Intacct Support and Services
 
The Resource Group offers several different options for Microsoft Dynamics GP and Intacct software support. Our promise is to deliver excellent, timely and cost-effective support when you need it. To learn more, please contact us at info@resgroup.com, call 425.277.4760. or click here.
 
Fun Fact
  
Hippopotomonstrosesquippedaliophobia is the fear of long words. 
 
 
425.277.4760
 
The Resource Newsletter is brought to you by The Resource Group, a Microsoft Dynamics Gold Partner and Intacct provider. If you have any questions or suggestions, please contact us at 425.277.4760 or info@resgroup.com.

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