ACC BLOG

XBRL stands for eXtensible Business Reporting Language and is a technology for tagging data in order to identify and describe the information within an organizations financial statements.  Often referred to as “bar codes for reporting,” XBRL makes financial reporting more accurate and efficient by allowing tags to be associated with reported facts. 

With the myriad responsibilities involved in running a successful business, it should come as no surprise that preparing for a sales and use tax audit is not exactly a high priority or favorite topic of conversation among business owners.

Earlier this week, the ACC team traveled to Boston for Acumatica’s 2017 R2 Launch event.  There, they were treated to an up close look at Acumatica’s newest release, highlighting the new Manufacturing Edition, lots of updated features and functionalities, and partner integrations.

Rapid growth can bring added complexities that manual processes and basic systems can’t handle.  Over time, growth can be detrimental to company health, customer satisfaction, and accuracy as the company struggles to keep up with demand.  However, a robust Enterprise Resource Planning (ERP) solution offers the ability to support both rapid and gradual business growth through its flexibility, scalability, and mobility.

Accounting software can be a piece or subset of a comprehensive ERP solution.  Understanding this key distinction may influence your buying decisions and allow you to compare products within the same product category.

You’ve probably heard of Software-as-a-Service in regards to subscription-based ERP software, but the “as-a-Service” model has spread far beyond software and data delivery. This is because the model is based on a much larger socio-economic trend away from owning assets and accumulating objects to placing more value on experiences and services.