This is combined with setting baseline amounts, goals, and cap amounts. Acronym Definition; ALORE: Asset, Liability, Owner's Equity, Revenue, Expense (general ledger accounting) ALERE Accounting contains the features you need to grow your business. An alphanumeric chart of accounts up to 24 characters wide and six user defined segments is used. So, here are the definitions for debits and credits: Debit means to put an entry on the left side of the account. Assign Need By dates to line items for shipping and material planning. Pricing rules can be sequenced so as to provide unlimited pricing tiers. Add shipping charges as orders are shipped. Voiding a check allows a payable to be reopened just as if the payment had never been made. Custom general ledger account rules can be tested on a special Inquiry Tab. Use them for a whole host of activities, such as placing orders, collecting information, and doing detailed inquiries. Specifically allocate lot, trait and serial numbered items. Track and report manufacturing processes with handheld or wedge scanners. ALERE does this by placing an emphasis on the details that make day-to-day activities run smoothly. The General Ledger Module is responsible for all activities related to managing the general ledger. Accounts receivable (AR) definition:The amount of money owed by customers or clients to a business after goods or services have been delivered and/or used. Yes it is. 10 - Depreciation, Amortization, & Fixed Assets. Yes. Diversification definition:The process of allocating or spreading capital investments into varied assets to avoid over-exposure to risk. A strong development program results in regular releases of new versions of ALERE. Mass receive purchase orders, transfer orders and sales returns. Email and order approval rules are established for use throughout the system. Payment terms for customers may be overridden. It provides a dynamic environment where data, not required for the daily operation of a company, is removed and added to a historical copy of the company. Critical financial reports are always available and up to date. Assign each order type (sales orders, invoices, purchase order, return orders, etc.) You as a customer get value. The DEALER Method: The Hack to Make Sure You Never Forget. A non-stock item file is available for companies that do not carry inventory but require item numbers for billing. Book Value - BV: In accounting abbreviations, BV represents the original value of an asset after eliminating accumulated depreciation. A separate single payment process specializes in handling payments made one-at-a-time by manual check or other methods. The full range of sales, receivables, purchases, payables, inventory and general ledger is exquisitely incorporated. Long-term liabilities (LTL) are typically payable over a period of time greater than one year. Specifying which data to publish to the Cloud is done by setting the location to transfer the data to, and then selecting the tables and fields containing the information.Details & Features (473kb). Like most ERP systems it has a full-fledged accounting system including the Sales, Purchases, Inventory, General Ledger, Multi-Currency, Commissions, and Analytics modules and Manufacturing . ALERE finance and accounting software includes: Customer invoicing Accounts receivable Alere inventory Accounts payable Real-time general ledger Financial reporting Analytics Business intelligence Any one currency may be established as the base currency. ALERE displays a browser each time the Get button is selected, the mouse is double left-clicked in a key field or F2 is pressed in a key field. Payables can be created directly and pull information from a single purchase order, multiple purchase orders or recurring purchase orders, Payables created from multiple purchase orders will, Create a payable from a recurring purchase order that will allow selection of the line items and quantities to be used and receive the items into inventory when the payable is accepted. Review inventory movement on the Log of Activity screen with drill down to the source documents. Currencies are easily added as a code definition and are then immediately available to be assigned buy and sell rates. Received multiple times and summarized on one payable. Commission activity has drill-down capabilities right to the document source.Details & Features (512kb), The Multi-Currency module provides the capability of taking and placing orders in currencies other than your base currency. Offset a receivable against a payable. This protects a company's investment by allowing them to remain current as product upgrades are released. The ALERE accounting acronym is Assets, Liabilities, Equity, Revenue, and Expenses. Turn a credit memo into a payable with a click of the button. The program you have selected requires a nursing license. For example, a sales order Activity tab may list the quote that started the order, shipments and returns, invoices created from the order, and payments and refunds. Debit (DR) definition:An accounting entry where there is either anincreasein assets or adecreasein liabilities on a company's balance sheet. The pricing has always been fair. Facts for following examples: Asset cost of $85,000, salvage value of $10,000, an. Balance checking accounts and find errors with a practical bank reconciliation process. Use an Explorer-like interface, called Treevision to drill down to sales information and even right to the actual orders. The deferred money is usually not subject to tax until it is withdrawn; however, an employee with a Roth 401K can make contributions after taxes. In ALERE the Manager module provides a central location for information and services that are used throughout the system. Apply debit memos and prepayments to payables as they are approved for payment. Save time when entering new inventory items by copying the settings from another item. The initial and ongoing costs for ALERE are surprising affordable and well within the budget for even small operations. The Sales Order Configurator is powered by modular and variable BOM information so that it is always accurate, up-to-date, and requires no additional effort to create or maintain.Details & Features (596kb), The Purchases module encompasses all apects of purchasing. Please visit www.rasmussen.edu/degrees for a list of programs offered. The level of technical support that customers receive is unparalleled in the industry everything from email/phone support, to assisting on how to implement a new business process into the ALERE system, to actually looking at live data to help troubleshoot an issue. 06.27.2022. Assign AR/cash receipts to Bank Deposit IDs where deposits can be managed and bank deposit tickets printed. There is an error in email. Auto number orders or enter them manually. MDI improves work flow by allowing you to: Advanced Browser - Browsers help find a specific record or piece of information. A right-click menu makes it easy to add, edit, and delete choices and inventory items. Over shipping missing kit components is optional. A GL Group, which contains the GL accounts to use, can be assigned to each line item. Most importantly, customizations can be easily brought forward to new releases. Email - Key Sales and Purchase screens can automatically convert the order into a PDF file and send it via email. Convert return orders to debit memos. in return for goods and/or services they have delivered. One code base is used for both the LAN and Client Server (SQL) platforms, LAN based companies in ALERE can be run concurrently, from the same company menu, as SQL based companies, Long lists to be easily viewed and searched, Easy side-by-side screen data comparisons, Screen sizes to be preset for each user with a simple modification requiring no code changes, Work on multiple documents in one or more modules at the same time, Interrupt work on one screen without closing it to complete another task, Open other screens that have supporting information, Eliminate the need to open and close modules constantly, Allows a large amount of data to be quickly viewed, Can be resized to see more lines and columns, Can have the columns resized and reordered in ascending or descending order, Will jump to the first record matching the characters entered, Uses relational logic to create powerful filters, Will display filtered records as a group or within the context of the entire table, Can be modified and saved for a specific user, Screens and field names unique to their business, Has filters that control the amount and type of activity displayed, Provides a way to tie together related information, Supports drill down to specific data or documents, Data sorts by the columns that are displayed, The base price of the item with the options selected with the matching prices, The default price of the item with the modifications and the price for those modifications, List the journal entries for a specific account and date ranges, Shows the key financial reports that need to be printed, Identifies which reports need to be reprinted due to prior period or year postings, Lists which periods or years have been closed, Individual customers, sales group, or for all customers, Items, groups of items, or an individual item, As distributions to inventory adjustments, Auto reverse the positions of debits and credits, Load predefined account distribution templates, Store unlimited notes that can be added or edited, even after the posting is accepted, Selling unit of measure and conversion factor, Safety stock, lead time, minimum order and order increment, Sales order and work allocation quantities, Purchase order and work order on order quantities, Purchase unit of measure with conversion factor, Lead time, minimum order and order increment, Move inventory from one company location to another, Ship the orders individually or use a mass shipping function, Receive the orders individually or use a mass receiving function, Track the value of the orders to a GL account, Ship and receive in one step to expedite the process, Handle increases in inventory due to physical counts or other reasons, Handle reductions in inventory due to physical counts or other reasons, Set on hand inventory counts, prices, standard costs and average costs, Calculate values based on the average cost for the date given, Be filtered for a range of items, a product class or an item type, Be ordered by item, location or product class. EDITORS NOTE: This article was originally published in February, 2013. It's time to roll up those sleeves and start building your accounting vocabulary. What does alere mean? Equity or Owner's Equity - E: The value left for a business after removing all of the liabilities. This even includes building a kit on-the-fly by choosing the components from a list and entering the quantity required for each. Produce consolidated Income and Balance Sheet reports for any combination of companies on demand. Key modules have been added over time making the product extremely feature rich, able to adapt to business processes, while retaining the flexibility that is the hallmark of the ALERE product. Best Pharmaceutical Distribution Software, Automatic period closings can save a company thousands of dollars each year in lost time, A real time general ledger allows financial reports to be printed anytime for critical period-to-date or year-to-date information, Most modifications are more quickly and easily done than older source code-only methods, Modifications are portable from one version to another, which saves a company from the expensive and risky process of rewriting code, Screen and report defaults are readily changed and can be set up by user, Sales, invoices, cash receipts, purchases, payables, and inventory are always current as of the last transaction, Account balances, profitability and cash flow information are always available. Acronym Definition; ALORE: Asset, Liability, Owner's Equity, Revenue, Expense (general ledger accounting) ALERE Manufacturing is designed for use by small and midsize manufacturers operating in a range of industries. Cash orders produce instant invoices and receipt of payment. Offset AR invoices, credit memos, debit memos, and AP invoices. Accept sales order prepayments, non-invoice receipts and customer on account payments. One single screen handles all default general ledger accounts which greatly simplifies the management of these accounts. Current liabilities (CL) are those debts that are payable within a year, such as a debt to suppliers. Set up locator rules to do searches like finding the nearest stores to a customer. Language Sets Language sets allow you to customize menus, screens and even have different languages on a user-by-user basis. Set up conversion tables that allow the system to automatically convert one unit of measure to another. Each user can have their own unique environment created for them, such as menus, language, etc. See shipments, returns, payments, and refunds. Each line item has a Line note which is printed on order reports that the customer receives. FOR IMMEDIATE RELEASE2017-178. To help you get started, we compiled an assortment of basic financial terms and acronyms and created this simple accounting glossary for beginners. Send sales invoices to a different location from where the order was shipped. The program you have selected is not available in your ZIP code. Also, some credits increase and some decrease. Accept and print orders directly from the entry screen. The name describes the heart of accounting. Knowing how to talk the talk will allow you to focus less on accounting definitions and more on the important training youll need to launch a successful accounting career. The implementation team was very responsive to our needs and provided us with software customizations and customized reports. Assign a Release Group ID to recurring orders that allows those orders to be mass released as a group. Kokatat upgraded a legacy business system 15 years ago and chose ALERE. Background Community Paramedics (CPs) require access to timely blood analysis in the field to guide treatment and transport decisions. A Refer To option on the sales order supports a third party. Investigating This Intriguing Accounting Role, Is Accounting Stressful? We had a few specialized features that were essential and most of the providers told us they could not meet that need. Expenses (FE, VE, AE, OE) definition:The fixed, variable, accrued or day-to-day costs that a business may incur through its operations. A lot can be assigned an expiration date. The mass shipping function permits orders to be shipped completely or partially. Currency codes may be assigned by location if customers and suppliers have more than one location. Present value (PV) definition:The current value of a future sum of money based on a specific rate of return. Menu Search. Quotes are issued, turned into sales orders, released as invoices, and payments received and posted, all from one central screen. That way, when you start your accounting education journey, youll already feel like youre a step ahead and speaking the language. 07/20/2020. Key changes, with the ability to merge information, can be made for company IDs, company location IDs, item numbers, payment terms, and product classes. ALERE jumped right in and customized what was needed to assure those needs were met. Each line item has a Pick note which is printed on the Pick List report. Set up tax districts by company location. A Massachusetts-based medical manufacturer has agreed to pay more than $13 million to settle charges that it committed accounting fraud through its subsidiaries to meet revenue targets and made improper payments to foreign officials to increase sales in certain countries. Individual retirement account (IRA) definition:IRAs are savings vehicles for retirement. Items on a purchase order can be received and the order considered complete if the quantity falls within an overage/shortage range. Separate rates for selling and buying are supported to provide flexibility for your buying and selling functions. Fixed commissions can be generated based on the achievement of sales goal such as revenue, margin, or quantity of items sold. 7. Create and maintain a chart of accounts using Treevision", an Explorerlike graphical interface. Accounts payable (AP) definition:The amount of money a company owes creditors (suppliers, etc.) Companies and their relationships with your company are defined in the Manager module. Make sure your answer has: There is an error in phone number. The discrete manufacturer will find a wealth of tools to help control production including transaction-based work orders; routing; costing; BOMs consisting of Component, Modular, Variable, Phantom, and Kits all supporting 25 indented levels; and finite forward/backward scheduling! The Purchases module increases purchasing staff efficency by handling recurring orders, batch accepting of orders, mass payments, automatic emailing notifications and orders.Details & Features (780kb), Inventory is at the heart of many companies and managing it is a strong-point of ALERE. There is support for a multi-tier split commission structure which permits manager commissions to be based on the sales of subordinates. Key features are: Quotes, sales orders, sales invoices, return orders, credit memos, blanket orders, and recurring orders are supported. This acronym has helped many people master accounting and ace their exams. The Multi-Currency Module allows companies that do business outside their countrys borders a way to take and place orders in currencies other than their own. Similar to the Sales module, ALERE purchase documents can be saved in a pending state, saving hours of re-entry time and making the purchasing process more efficient and flexible. Convert net negative orders directly to credit memos. Compare actual versus budget for any range of dates. During the process of recording a receipt for an invoice, the payment can be automatically applied, starting with the oldest invoice first, until the total payment amount is reached. The configurations for items are created and maintained on one single screen using Treevision. Mark pricing rules as either Active or Inactive. Each line item has a Line note which is printed on the purchase order that the supplier receives. A sales graph for the Executive Advisor displays key sales information for a range of dates in a variety of 2D or 3D formats with a resolution of days, weeks or months. Optional order version control for all orders. Handle non-stock material three ways. Today we tackle depreciation and amortization, and we discuss fixed assets. ALERE is an enterprise resource planning (ERP) software that helps businesses in aviation, food and beverages, distribution, apparel, packaging, textile, and other industries handle operations related to order management, job scheduling, inventory tracking, dispatching, and other processes. This allows. That means that Technical Support and new versions are included. Assign expiration dates to orders. ALERE is at home on either LAN or SQL. Fixed assets (FA)are long-term and will likely provide benefits to a company for more than one year, such as a real estate, land or major machinery. Bills of material that can be configured are displayed when ALERE Accounting is linked with ALERE Manufacturing. Stored notes can be added to the email besides being able to enter personalized messages. It allows us to do forecast sharing with our suppliers. Each item can have up to three unique traits which allows a matrix such as style/size/color. Change selling units of measure using a conversion factor. Assets (fixed and current) (FA, CA) A Price Group field allows items to be assigned special pricing rules, such as belonging to a group that is on sale this week. The key features are. New items added to inventory can optionally be established for one or for all locations. Apply debit memos to invoices or auto convert them to a receivable or cash. Choose to ship an item from inventory or have it drop shipped. Use the Activity tab to find the source of documents, such as the quote a sales order came from or the invoice a sales order created. A History of Payments report evaluates the payment history of customers and will show the longest, shortest, and average times it takes for them to pay invoices. Search for Abbreviations containing the term alere; Drop shipments are controlled seamlessly from customer orders through vendor shipments.Details & Features (628kb), A well-constructed Chart of Accounts is key to assisting effective financial management. Developed 100% in-house by our own staff, ALERE requires no special hardware for a basic installation and will scale up to run on Client/Server and terminal services platforms. This is definitely a company who understands the importance of timely responses to issues and have always gone out of their way to provide thorough resolutions. The time during which prior period postings can be accepted before a password is required can be set from 0 to 999 days. Making life even easier for modern job shop owners. Print inventory sheets to assist physical counts. Check out these basicaccountingdefinitions and start to commit them to memory. Kits and their components are automatically issued from inventory when the order is shipped. A GL Posting tab on each order displays the GL postings generated by an order. The support I get from TIW - I don't even have another company I can compare it to in any field. Each company can have a user-defined status such as Dealer, Customer, etc. They are fantastic!, The reason we chose TIW back in the early 90's was that we needed a package that suited our needs based on a low volume-high mix manufacturing environment. Data for each company is kept in a separate directory and is easily moved or copied. Load predefined comments from a file and place them on orders. She is passionate about creating quality resources that empower others to improve their lives through education. Typically, this could be cash, inventory or accounts receivable. What platform does ALERE use? Trial balance definition:A business document in which all ledgers are compiled into debit and credit columns in order to ensure a companys bookkeeping system is mathematically correct. irrevocable payment undertaking sample, professional soccer coach salary in europe, joel greenberg' family,