Tip #118 – Does it Pay?


Tip #118
Does it Pay?

Many of you often wonder if it pays to belong to a wire service.
When you add up all the commissions and fees, how much are you really making on those incoming orders?

Well, wonder no more.  Now flowerSoft gives you a way to know exactly how much you are making on those incoming orders.

What does it require of you?  A little work, not a lot and is work you should be doing anyhow.
You should be checking and reconciling your combined reports from the wire service(s) you belong to.

flowerSoft gives you a way of doing this by following this path: O > O > W > C and then select the method you want to use to reconcile your combined report.
The easiest way is to obtain a cd or file from the wire service and let flowerSoft spit out any discrepancies it may find.

However, on the same Reconcile Combined Report menu, you will notice an option that reads C – Charges & Expenses

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Selecting this option and then selecting the option to A – Add Charges & Expenses, will take you to the following screen:

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After you enter the name of the wire service and the “From” and “to” dates, flowerSoft will fill most of the fields for you by reading the data in the sales file.

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Now, using the information provide to you in the combined report, you enter the charges and expenses you had for that period.

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flowerSoft will then tell you what your statement balance should be.

Best of all, is that at the end of the year (or any time you want), you can generate a report that will tell you exactly how much money you made on incoming orders.

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Armed with this information, you can then make an intelligent decision as to whether or not it pays to belong to that particular wire service.

Please note the labor expense rate comes directly from your control file.  If yourlabor expense rate increases or decreases you can always adjust it by going into the Manager’s menu.
Select System Information > Defaults Menu > Operating Defaults and then navigating to page # 21 and changing the rate there.

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If you have any comments or improvements that can be made to this option, leave a comment and let me know.

Thanks.

1 thought on “Tip #118 – Does it Pay?

  1. Here is a reply I received today via email from a flowerSoft customer:

    “I know you & I have talked about this frequently, I left the wire services back in 04 or 05.
    I was told by them that I would not make it without them.
    Well let me say, we are still here 2013, I have not looked backed since then.
    I did the reconciling every month and after all the fees, I felt like we were working for the wire services.
    If you are happy with them, then stay with the wire service(s), I just couldn’t justify staying when the Internet has changed things so much.
    If you do the Monthly reports and do some figuring, you will see what I mean.
    Thank you G for putting this on as a menu option, I just wish I had this info when I became a member of FS, I would have left sooner. I am just glad its over.
    G already knows how I feel about Wire Services. Like I said if you are happy, then stay, if you want to see what you are “not making”, run this report.
    You might come to the same conclusion I did.
    Larry
    There is no better advertising than word of mouth, use it freely!! “

    Like

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