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Archive for the ‘Tips & Tricks’ Category

Fundamentals of Finance and Accounting for Engineers and Architects

Wednesday, July 27th, 2011

You know how to be an architect or engineer, but when it comes to the financial side of the business, it doesn’t come as easy.  For principals, or those who wish to be a principal someday, it’s imperative that they understand the key financial metrics for an AE firm.  Gaining greater knowledge about finance and accounting will also take your firm’s profitability and even your relationships with your clients, to a new level.

In this AE Best Practice Webinar available on-demand, veteran AE financial expert Ian Rusk discusses the fundamentals of accounting, financial statements, fiscal performance, and future planning in terms familiar to engineers and architects.

What You’ll Learn:

  • Fundamental aspects of accounting for AE firms that architects and engineers need to know
  • The basics of how to read and interpret financial statements such as an income statement and balance sheet
  • Important measures of financial and project performance you should be monitoring
  • Understanding and tracking forward looking financial metrics
  • The importance of cash flow management and how you can help

 

Watch It Now!

 

About Axium
Axium helps streamline difficult processes and increase profitability with easy-to-use accounting software and project management software for engineers and architects.

Five Tips for Switching Software Successfully

Wednesday, January 27th, 2010

If you’ve ever been through the process of implementing new software then you may feel that the workload needed for it can be motivation to never switch programs again. The idea of such a headache has driven some companies to stick with their DOS programs to this day!

Is all this pain and worry really necessary? Is there such a thing as a smooth conversion?

At Axium we have learned that with the right guidance and preparation you can achieve conversion success without the aggravation and extended timelines. Here are some tips to make the task less overwhelming:

Tip 1: Pick key staff members to manage the process and lock down vacation time. There’s nothing worse than trying to get important information from somebody drinking margaritas in Mexico.

Tip 2: Set a deadline. Thinking that new software can be implemented in your “extra” time is one of the most common pitfalls and will draw out the process.

Tip 3: Prep your data. Thoroughness is the key for this step. Any errors or corrupt data will result in a longer process and major headaches.

Tip 4: Make training a priority… for everyone: Introduce your entire staff to your new software and teach them what specific areas they will need to know when your transition is complete.

Tip 5: Make your consultant your new best friend. Use your time with your consultant to pick his or her brain for any tips or tricks to making your conversion a smooth one.

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