ICAEW Accreditation Scheme Software Evaluation

CFPwinMan v3.20

CFP Software Limited

Evaluation carried out by: Kevin Salter FCA CTA (Fellow) –BBS Computing Ltd

Date completed: May 2008

Signed:

The Institute of Chartered Accountants in England and Wales has accredited CFPwinMan Version 3.20 under the terms of the ICAEW Accreditation Scheme. Purchasers should ensure that the software, its security features and related support, meet their own specific requirements, as the Institute will not be liable for any damage whatsoever, incurred by any person, occasioned by the use of the software, or any related products or services howsoever caused.

1,2 Concept of software under evaluation 2 Approach to evaluation

2.1 Objective

2.2 Approach, including work performed 2.3 Software/hardware utilised

2.4 Report structure

3 Matters to consider before purchase 3.1 General overview

3.2 Supplier background

3.3 Product background and Suitability for user 3.4 Typical implementation

3.5 Vertical applications

3.6 Software and hardware specifications 3.6.1 Development environment 3.6.2 Server platforms

3.6.3 Databases 3.6.4 Protocols

3.6.5 Minimum client PC specification 3.7 Software installation and support

3.8 Partner network and related accreditation process 3.9 Limitations

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5

5.2 Input of transactions 11

5.3 Value Added Tax 16

5.4 File maintenance 25

5.5 Processing 28

5.6 Reports 30

5.7 Performance of requisite accounting functions 36 5.8 Sales Order Processing and Invoice Production 43

5.9 Purchase Order Processing 47

5.10 Stock Control 49

5.11 User documentation 51

5.12 Efficiency 53

5.13 Integration facilities 54

before software is acquired. The quality of the software developers or suppliers should also be considered at the onset.

1.2 Fundamentally good accounting software should:

§ be capable of supporting the accounting functions for which it was designed.

§ provide facilities to ensure the completeness, accuracy and continued integrity of these accounting functions.

§ be effectively supported and maintained.

It is also desirable that good accounting software should:

§ be easy to learn, understand and operate.

§ make best practical use of available resources.

§ accommodate limited changes to reflect specific user requirements.

It is essential, when software is implemented, for appropriate support and training to be available. 2 Approach to evaluation

2.1 Objective

To evaluate CFPwinMan v3.20 against a set of criteria developed by the ICAEW to ensure that the software meets the requirements of Good Accounting Software, as laid down in the summary. 2.2 Approach and Work performed

In order to effectively evaluate CFPwinMan v3.20, a product specialist from the CFP Software Limited completed the detailed questionnaire and provided it to the evaluator to examine. The evaluator then visited the CFP Software head office in Redruth, Cornwall, and in conjunction with the operation of the various aspects of the system assisted by a member of CFP Software’s technical staff checked the answers to confirm their validity. The questions were individually reviewed and commented on and the majority of assessments were confirmed.

The evaluator discussed the assessments with a member of CFP Software staff in order to clarify certain points. In the event of disagreement between CFP Software and the evaluator, the evaluator's decision was taken as final and the response changed accordingly.

CFPwinMan v3.20 was used throughout the evaluation. The evaluation covered the client cash based accounting system which deals with rental, deposits and associated income, property expenses and payments to clients, contractors and management fees. There are add on modules for internet upload and legal documentation, brochure generation and landlords online. None of these modules have been covered by this evaluation process.

When the evaluation had been completed, the responses were typeset by the evaluator and draft copies sent to the ICAEW for review before completion of the final report.

2.4 Report structure

The report has been broken down into its main constituents in the contents page. The evaluation questionnaire was provided by the ICAEW and has been used without alteration or amendment.

3

CFP Software states that it is a market leader in providing software to the property industry. It has over 1600 clients and in excess of 5000 users in the UK.

The ICAEW Accreditation exercise has been developed to cover a wide range of accounts software and there may be areas in the evaluation which show up possible weaknesses in CFPwinMan v3.20. 3.2 Supplier background

CFP Software Limited was established in 1989 and currently has over 70 staff providing training, support and assistance. The company is a Microsoft Certified Partner.

3.3 Product Background and Suitability for User

CFPwinMan v3.20 is the latest version of the software and is designed for comprehensive Property Management. It comprises an Organiser, a complete double entry client accounting system (stated to be compliant with RICS and ARLA), facility for Deposit, Overseas and multiple client accounts, bank reconciliation, multiple payments facility when paying landlords and contractors by BACS, a full audit trail and automatic cheque printing.

3.4 Typical implementations

Implementations range from single screen to 35+ screens. An “average” installation would have 4-5 users, 250-300 managed properties, and a rental turnover of £2.5m.

3.5 Vertical applications

10Gb hard disk (at least 2gb free) Monitor display 1024*768 CD Rom Drive

3.7 Software installation and support

A typical installation is 6 hours on site which includes first training and installation. Additional training is recommended (4 -5 sessions over the first 6-8 weeks). Support is provided from the head office in Redruth by a dedicated support team.

3.8 Partner Network and related accreditation process

The company markets direct management and letting agents and as such currently has no sales partners, agents or dealers.

3.9 Limitations

The ICAEW software evaluation exercise has been developed to cover a wide range of software and there may be areas in the evaluation which show up possible weaknesses in CFPwinMan v3.20.

These weaknesses should be taken into context with the potential market for this product, and in most cases would therefore not be applicable.

Attention should be drawn to the following limitations of CFPwinMan v3.20 as per the ICAEW questionnaire:-

Whilst this is a full double entry system it is designed specifically for the niche market of lettings and property management and is not suitable for general office accounting.

The software is single currency only

No system log of error messages or security violations

No audit trails of changes to tables or account master files – but there is limited data in these static fields in this vertical market software in any event.

There is no import facility from other packages or banks (but this is under development) The system cannot produce output in XML format

Disclaimer

Any organisation considering the purchase of CFPwinMan v3.20 should consider their requirements in the light of proposals from CFP Software Limited or its dealers and potential suppliers of other similarly specified products. Whilst the contents of this document are presented in good faith, ICAEW cannot accept liability for actions taken as a result of comments made herein.

5.1 Security and continuity of processing 1 i) Are different levels of

passwords provided to control access?

Yes Agreed

ii) Is this level of security appropriate for the expected level of business using the software?

Yes Agreed

2 i) Is each user required to have a personal password?

Yes Agreed

ii) Can a report be produced detailing all current users and their authority levels?

Yes Agreed

3 Do the security features cover:

i) System access? ii) Company access? iii) Menu access (ledgers)? iv) Sub menu access (ledger facility)? v) Field access? Yes Yes Yes Yes Yes Agreed Agreed Agreed Agreed Agreed 4 Does security allow for read

and read/write access to be specified separately?

Yes Agreed

5 Can the menus be tailored by the software house or an educated user so that an individual user can only access those functions they are authorised to access?

Yes Agreed

6 Does the system provide specific levels of password control to authorise master file amendments?

7 Are there specific security procedures (by passwords or warnings) over the:

i) Update of ledgers? ii) Closing of accounting periods?

Yes

Not applicable as client accounting software

Agreed Agreed

iii) Deletion or archiving of transactions

Deletion / archiving not permitted so not necessary

Agreed

8 Is there a clear indication in the system or manuals as to how the data is backed-up and recovered?

Yes – covered as part of training procedure and auto backup on exit.

Agreed

9 How is this provided:

i) Within the software application?

ii) Within the operating system?

iii) Are any of these procedures automatic?

iv) Is the user forced or prompted to back-up at certain intervals?

v) Can the intervals be customised?

vi) Do the recovery procedures work?

Yes

Yes – instructions are provided as to how to back up the database e.g to an external source

Yes – prompted on exit to backup

Yes – on exit if using Access database – fully automatic if using SQL version No – on exit prompt Yes Agreed Agreed Agreed Agreed Agreed Noted

10 Does the system facilitate recovery procedures in the event of system failure? (Eg Roll back to the last completed transaction).

11 If system failure occurs part way through a batch or transaction, will the operator have to re-input the batch or only the transaction being input at the time of the failure?

Re-input batch Noted

12 Are there any features provided with the software to help track down processing problems?

Reconcile Balances Report can be run at any time and a “tick” indicates underlying balances agree between cash book and cash tables

Agreed

13 Are system messages clear and are user responses properly structured to ensure that erroneous key strikes do not lead to inappropriate actions?

Yes Agreed

14 Is there a system log which details:

i) User activity? ii) Error messages? iii) Security violations?

Yes No – in Access – Yes in SQL No Agreed Noted Noted 15 16 What are the procedures

for handling dates? (E.g. 2 digit, 4 digit).

i) In the case of two digits what is the break point for the century?

ii) Are dates handled consistently throughout the software?

4 digits

2029

Yes – a software component is used every time a date is entered and assures consistency

Agreed

Noted

Agreed

16 Economic and Monetary Union.

What approach will the supplier take towards handling the EURO?

Consider requirements: - before the UK joins the EMU;

- transition period, i.e dual currency in the UK;

- post the transition period.

Our system is a single currency system. The currency defaults to Sterling, but Regional Settings can be used to process in alternative currencies.

5.2 Input of transactions

The following sections in Input of transactions, File maintenance, Processing and Reports are primarily aimed at the three main accounting ledgers (General Ledger, Sales Ledger and Purchase Ledger). Where there are other modules (eg Sales Order Processing, generating invoices, Purchase Order Processing and Stock Control) questions, where applicable, need to be related to these modules.

1 Is data input controlled by self-explanatory menu options (and are these menus application-specific)?

Yes – choice of tabs or icons Agreed

2 i) Does the system provide input validation checks such as account code validation, reasonableness (limits, VAT or discount checking) and validity checks?

Yes – VAT. Also reasonableness checks on receipts where they differ from open items

Agreed

ii) Can the user amend data on an input screen prior to update?

Yes Agreed

3 What are the control features which ensure completeness and accuracy of data input eg, batch control, matching, review of audit trail; are all input transactions subject to this control?

On receipts a batch total needs to be entered manually and the allocated individual receipts must agree before update is permitted. Other areas require matching of discrete items

Agreed

4 Does the system allow for batch control totals? If so: i) Are batches automatically numbered?

Yes – where relevant e.g– paying in slips and bank reconciliations

Agreed

ii) Are batches forced to balance before ledger update?

iii) Does the system allow the temporary halting of input of a batch to allow for queries or other activities to take priority (eg set up a new account)

Yes – except for one posting screen relating to bulk cash received.

Agreed

iv) Is the user forced to confirm batch totals?

Yes – where applicable Agreed

5 Is attempted posting of unbalanced journals rejected? (G/L).

Yes Agreed

6 Are input errors highlighted? Are they:

Yes Agreed

i) Rejected and reported on screen?

Yes Agreed

ii) Rejected and error reports generated?

No Agreed

iii) Accepted and posted to suspense?

No – not applicable – client accounting system

Agreed

7 Is a detailed audit trail of all input data generated?

Yes Agreed

i) Are transactions allocated a unique reference number by the system?

Yes Agreed

ii) Is this trail adequately protected from deletion?

Yes Agreed

8 i) What are the controls to ensure the internal integrity of the ledger(s) or the accounting information, eg, control of accounts.

Reconcile Balances Report can be run at any time and a “tick” indicates underlying balances agree between cash book and cash tables

Agreed

allocate input values directly to ledger control accounts? (G/L).

accounts as such – this is a client cash accounting package and bank balances agree to sums due to clients

iii) Is there a mechanism to allow the user to establish that the total balances on individual accounts agree to a respective control account? eg System Integrity Check.

The Reconcile Balances Report is the key control for this

Agreed

9 i) Can automatic accruals or prepayments be generated?

CFPwinMan is a client cash accounting system as required by RICS and therefore accruals and prepayments are irrelevant.

Agreed

ii) Will these automatically be reversed after the period end? (G/L)

n/a (see above) N/A

10 Is the ledger “open item”, rather than “balance forward” (or capable of being maintained as either)? (S/L, P/L, G/L).

Open Item Agreed

11 Does the system permit multi debit/credit journals?

N/A – client accounting only Agreed

12 Are all transactions adequately identified on screen as to type and as to debit or credit?

Yes Agreed

13 Can separate nominal analysis codes be input for each invoice line? (S/L, P/L, stock)

Each expense can be allocated to a user defined analysis code.

Agreed

14 Can cash receipts and payments be matched to

Yes-all transactions have to be so matched

specific invoices?

15 Will the system permit part payments?

No – not really applicable – expenses in this vertical market not usually part paid. A

workaround is available if absolutely necessary.

Agreed

16 i) Will the system accept credit notes in the purchase ledger?

N/A – there is no conventional purchase ledger

Agreed

ii) Will the system generate credit notes in the sales ledger?

N/A – there is no conventional sales ledger

Agreed

17 i) Does the system provide for early settlement?

Not relevant Agreed

ii) Can these be automatically generated? iii) Are there controls over accepting settlement discounts (eg time limits)? iv) Is VAT treated correctly on early settlement discounts?

18 i) Will the system permit the posting of unallocated cash to the ledgers? (S/L, P/L)

Unallocated cash receipts are permitted.

Agreed

ii) Are unallocated cash/credit notes specifically reported for follow up?

Yes – a specific report is available Agreed

19 Are outstanding transactions displayed for allocation? (S/L, P/L)

20 Is it possible for new accounts to be created during sales invoicing or input of purchase invoices?

In this vertical market system a new tenant/property can be created at any time.

Agreed

21 Is there control over the creation of new accounts?

Yes – if appropriate permissions have been set.

Agreed

22 Is the user prevented or warned from overriding credit limits or discounts? (S/L).

In this vertical market system there is no sales ledger/credit sale but there are warnings where payments due exceed funds available

Agreed

23 If the system enables transactions to be posted to the ledgers whilst performing a bank reconciliation (eg standing charges, bank charges etc) are these adequately reported?

Yes Agreed

24 i) Does the system accept input files from other computer packages?

Not at present – but currently development is being undertaken to import bank produced files

Noted

ii) What are the controls in place over the interface?

N/A N/A

25 Does the system have a facility for calculating interest on late payments?

5.3 Value Added Tax

The following sections detail the general requirements/features of an accounting package in handling VAT. It cannot cover all eventualities or all users and where necessary members should contact their local VAT offices for detailed guidance. The overall objective is to accurately record the accounting for VAT in order to support VAT returns to Customs & Excise.

N.B Cash accounting:

VAT is based on cash payments or receipts for which tax invoices, or equivalent documents are held or issued (for goods or services). Payments in advance are not allowable to input VAT claim until the tax document is received. Receipts in advance or unallocated cash are subject to VAT at the standard rate. On invoice entry the VAT amount should be posted to a general ledger balance sheet input VAT suspense account to be reduced on payment or receipt of the VAT amount with the equal entry to the general ledger balance sheet VAT control account. Reconciliation or VAT analysis should be available for the General Ledger VAT suspense accounts (input and output) to invoices received/issued and the outstanding creditors and debtors listings. (i.e the amount of VAT in and out should reconcile to the invoices issued, received and expected).

System features

1. Features required for the recording of VAT:

n UK VAT registration number

Yes for letting agent Agreed

n EC VAT registration numbers (10)

No Noted

n VAT rate (nn.nn) Yes Agreed

n rounding, to be applied consistently (up or down to the nearest penny but not to zero VAT)

Yes Noted

2. Security, by password and/or audit trail to control changes to:

n general ledger VAT control accounts

N/A – this is a client accounting package for the

administration of letting income and expenses.

n VAT tables Yes Agreed

n tolerance levels (if applicable)

N/A

n invoice number table Yes Agreed

n changes on VAT code on customer and/product files

N/A – only VAT report is management fees charged to customers Agreed n VAT calculated on sales invoices or credit notes Yes Agreed 3. Method of operation a) VAT basis. Can the system handle:

n invoice (standard) accounting for VAT

N/A – client accounting software only

Agreed

n cash accounting for VAT?

N/A – client accounting software only

Agreed

b) Where systems can handle both invoice (standard) and cash methods of accounting for VAT, is the basis clearly identified during set up?

N/A Agreed

c) Is the ability to change a basis of accounting clearly flagged, i.e users warned etc. and supported by audit trails to ensure proper VAT treatment of

all transactions.

4. Input VAT (purchases) a) Are there sufficient VAT codes to analyse input VAT:

CFPwinMan is a client cash accounting system. This input section is not relevant to our Client Accounting Software

Agreed N/A n UK VAT chargeable (10 codes) N/A n EC acquisition tax n No VAT N/A n Exempt N/A

n VAT inclusive N/A

n reverse charge tax N/A

b) The following invoice details will be required to be input:

supplier reference N/A

invoice tax date N/A

invoice gross total N/A

invoice VAT amount N/A

individual invoice lines: N/A

n net amount N/A

n VAT rate (optional from VAT code, product supplier

N/A

validate individual invoice line VAT amounts against the total invoice of VAT (less early settlement at discount) and accept or reject the amount subject to a tolerance. Where the amount is within the tolerance it is the amount on the suppliers’ invoice which must be used to derive the amount recoverable.

d) Where a system allows VAT to be reclaimed on the basis of registered but unposted invoices, the system must allow for the VAT status of invoices to be flagged as:

N/A

n VAT not yet reclaimed or

N/A

n VAT claimed N/A

5. Output VAT (sales) a) Are there sufficient VAT analysis codes to identify the following:

n UK chargeable Yes Agreed

n EC VAT:

goods and related services

services only

Not Relevant Agreed

process triangulation

N/A

n Exempt N/A N/A

n export to a third country

N/A N/A

n UK sale zero rate by certificate/treasury N/A N/A n distance selling (supply to an unregistered EC customer) N/A N/A

n outside scope N/A N/A

b) For each invoice generated: n unique invoice reference Yes Agreed n supplier, name, address, EC country code and VAT number

All except EC Country code – but given vertical market this product is aimed for this is not an issue

Agreed

n date of invoice Yes Agreed

n tax point (the date the supply takes place, the date of issue of a tax invoice or receipt of payment if before supply) the date of the tax invoice issued (if within 14 days of the date of supply)

n customer, name , address, EC country code and VAT number (if EC)

Yes Agreed

n type of goods supplied, quantity, description, net value, rate of VAT.

Yes Agreed

n total net charge Yes Agreed

n rate of cash discount. N/A Agreed

n total invoice and VAT value for each rate of VAT

Yes Agreed

n type of supply

c) Pro forma invoices should be clearly identified as “this is not a tax invoice”.

N/A in this vertical market application

N/A

6. Reporting

The following reports should be available:

CFPwinMan is a client cash accounting system. This section is, in the main, not relevant to our Client Accounting Software a) VAT return by report

period (three monthly, monthly or by other month ends if agreed with the local VAT office)

N/A N/A

b) summary of data included in VAT reports

Summary of Fees and VAT charged is produced by the system

c) detailed analysis of data included in each return sorted by VAT code and transaction type. Totals of outputs and inputs required for boxes 6 and 7 of the VAT return, to be derived from the net amount totals from the appropriate VAT codes.

N/A N/A

d) total of EC supplies and acquisitions required for boxes 8 and 9 of the VAT return, to be derived from the net amount totals from the appropriate VAT codes.

N/A N/A

e) Audit trails, where appropriate to identify amendments to:

n VAT tables Not in Access - Yes in SQL version

Noted

n tolerance parameters N/A N/A

n invoice VAT calculations No Noted n customer/supplier/ product masterfiles N/A N/A

f) full audit trail of details of all VAT postings with variances by report period and country code showing:

number, customer, reference number (invoice), invoice value ESL indicator. g) Exception reports or audit trail of all VAT postings where the computer generated VAT or calculated VAT has been overridden.

A warning message appears on data entry when overridden but this is not flagged as such in the audit trails/reports – can be developed if required

Agreed

h) EC sales list (ESL) reconciliation analysis including: N/A N/A i) INTRASTAT reports where applicable. N/A N/A

7. Potential problem areas Can the system correctly handle the following circumstances:

CFPwinMan is a client cash accounting system. This section is not relevant to our Client Accounting Software a) VAT control or

Suspense accounts, are these protected from direct update by journals?

N/A N/A

b) How are errors on VAT accounts corrected?

N/A N/A

c) VAT treatment of purchase and sales ledger contras

N/A N/A

n both items VATable N/A N/A

registered d) Reimbursable

expenditure, eg. Electric charge received and partly recovered from a sub tenant.

N/A N/A

e) Partially allowable expenditure, eg VAT on petrol invoices where employees are provided with petrol (adjustment required for own use)

N/A N/A

f) Can the system handle cheque refunds to customers? i.e unusual transactions under cash accounting.

N/A N/A

g) Can the system handle invoices with multiple rates of VAT?

N/A N/A

h) Can the system handle write off of bad debts and the VAT consequences?

5.4 File maintenance

1 Is the creation or amendment of standing data (eg customer account details) controlled by menu options and are these menus application-specific?

Yes Agreed

2 Does the system provide input validation checks? (eg account number validation by displaying the underlying information relating to the account codes such as the description, completeness checks and format checks, i.e. checking that the information has been keyed in correctly).

Yes – input screens for invoices and receipts show the landlord, address and tenant names

Agreed

3 Are input errors highlighted? Are they: i) Rejected and reported on screen?

Yes – each record has a unique identifier which cannot be duplicated

Agreed

ii) Rejected and error reports generated?

Not in Access – Yes in SQL Agreed

iii) Accepted and posted to suspense?

N/A N/A

4 Does the system prevent an account from being deleted whilst it is still active?

Yes – cannot be deleted Agreed

Are there other constraints over the deletion of accounts? (eg movement during the year, associated

Yes – cannot delete properties if there are any transactions, cannot delete properties if there are tenancies and cannot delete

sub-accounts). landlords if there are associated properties

5 i) What is the length and scope of reference numbers GL/SL/PL?

8 digit alphanumeric throughout – for properties, landlords and tenancies

Agreed

ii) Is it adequate to permit sufficient depth of analysis?

Yes Noted

6 i) Are reports available for users to identify all master file changes?

Access version - Whilst there are no standard reports available for the end users to track all the master file changes, these can be obtained if required via our technical support desk. SQL version – will be tracked automatically.

Noted

ii) Can reports be invoked which identify the fields which have been modified?

Yes, as above. Noted

iii) Would it be possible to show that these reports provide a complete record of all such changes?

Yes, as above. Noted

iv) Do the reports show how the fields have been modified? (eg before and after).

Yes, available on request. Noted

7 If the system uses a lot of standing information which changes frequently or regularly, does the system allow for such changes to be effected through the use of parameters or tables?

As relevant and appropriate Agreed

8 If so, is the use of such parameters or tables

As relevant and appropriate – SQL would record any changes

adequately reported?

9 Is proper control to be exercised over changes to such parameters? (If so, how? For example, through the use of system facilities such as passwords or by inspection of appropriate reports).

Yes – via password protection Agreed

10 i) Does the system allow selective archiving of old data on a user-defined basis?

No – status can be set to “Archived” but this in effect a “filter” to prevent information displaying in reports. No data is archived off of the system.

Agreed

ii) Can this data still be used by the report generator?

Yes Agreed

iii) Can archived data be restored?

Yes Agreed

iv) Are there password controls over the handling (retrieval/saving etc) of archived data?

5.5 Processing

1 Does the system ensure that menu options or programs are executed in the correct sequence (eg ensure outstanding transactions are processed before month end procedures run)?

Yes – e.g. default setting is that contractors cannot be paid if there are insufficient client funds, landlords cannot be paid unless there are funds available

Agreed

2 i) After an external document (eg sales invoice or cheque payment) has been generated and posted to the accounts is it impossible to amend this data?

Yes Agreed

ii) Is there an audit trail of all changes to transactions which have updated the ledgers?

Yes Agreed

3 Can the system calculate prices or values by reference to master file data?

Yes – as relevant to the function of the program

Agreed

4 Does the system provide automatic recalculation, where appropriate, of data input? (eg VAT)

Yes Agreed

5 i) Does the system warn the user when the system is out of balance?

Yes – Reconcile Balance Reporting function

Agreed

ii) Is this check done on switching on or on ledger update?

Manually running Reconcile Balances reporting

Agreed

6 Does the system include routines for recovery from abnormal termination (eg power cuts)?

No – would need to restore from backups (but only if there was a error reported on logging in) – as is common with any system.

i) Are these automated? No Noted

ii) Do they rollback to the last completed transaction?

5.6 Reports

1 Are all reports adequately titled and dated? (eg report name, client name, data, period, batch, last entry number, period end, pages, numbers etc.)

Yes- considered to be adequate Agreed

2 i) Do the reports provide totals where applicable?

Yes Agreed

ii) Are these totals calculated or taken from a control file?

Calculated Noted

3 Is it clear when the report has ended? (totals or end markers)

Yes – e.g. page xx of xx or totals Agreed

4 Can reports be saved in electronic format (as distinct from just printing)?

Yes e.g. CSV files or RTF Agreed

ii) Are such files adequately protected from deletion or amendment?

The whole point of exporting to CSV or RTF is for end users to tailor or manipulate as required

Agreed

5 i) Is a report generator provided as part of the software or as an option associated with it?

Custom report writer provided as part of the software

Agreed

ii) What level of knowledge is required to use the report generator, eg beginner, regular user, expert?

Regular user Noted

iii) Can the report generating facility make use of user-defined fields

(including external fields)? 6 Does the report writer cover

all ledgers (transactions) files and balance (all value fields eg prior year etc.) files?

Yes Agreed

7 i) Are all the parameters or selection criteria used on reports reported?

Yes Agreed

ii) Is there an option for reports to exclude nil balances?

Automatically on Reconciled Balances report – option in other reports

Agreed

8 Can screen layouts, reports and transaction formats be easily adapted to users’ requirements?

Yes – screen layouts and reports are user definable for each user and the settings are retained for future use

Agreed

9 Can a hard copy be produced of all screen enquiries?

Yes Agreed

10 Can transaction files for all previous periods of the year be retained in the system to permit enquiries and reports?

Yes – no closedowns Agreed

11 Can all reports [transaction listings (G/L), Day books (S/L, P/L)] be reproduced after the period end?

Yes – no closedowns Agreed

12 Are reports of all master file changes automatically generated or stored for later printing?

Whilst there are no standard reports available for the end users to track all the master file changes, these can be obtained if required via our technical support desk.

Noted

13 Can full lists of master file information be produced?

Yes Agreed

14 i) Are all transactions on all reports individually identifiable?

Yes Agreed

Agreed ii) Do the reports show

whether items are debit or credit, and do they give sufficient narrative and coding to enable cross referencing?

Yes

15 Can the system produce all requisite reports? (For example trial balance, profit and loss account, balance sheet, cash flow statement and VAT reports, (including VAT return, EC Sales Listings and Intrastat returns (SSD), if applicable, in addition to ledger reporting requirements)

For the software ‘s designated purpose – yes it does i.e.:- Cash balances and sums due to clients. Reconciled balances, sums due to landlords, sums due to contractors, tenants, arrears lists etc. Full list of reports available on request.

Profit and loss and balance sheet are not relevant.

Agreed

16 i) Do standard reporting options give sufficient flexibility to tailor individual reports?

Yes Agreed

ii) Do these reporting facilities permit multiple key-sorting, variable report intervals and optional selection parameters?

Yes Agreed

17 Are standard reports always produced, even when they are nil returns?

Only if required Agreed

18 i) Do the standard budget reports provide sufficient

analysis of variances? ii) Do such reports provide exception reporting, percentage analysis and comparatives? (G/L, S/L, P/L)

N/A N/A

19 Do standard reports show sufficient analysis of trading results? (For example sales analysis by region)?

Fees analysis by branch, department, category and fee earner can be produced

Agreed

20 i) Are all movements during each accounting period shown on ledger detail reports?

Yes Agreed

ii) Do these reports show how all partial payments or allocations (unallocated cash) have been treated?

Yes Agreed

21 Does the trial balance report show balances carried and brought forward and totals of posted transactions?

Trial Balance - N/A

Reconciled Balances Report shows totals of all transactions

Agreed

22 Can the management accounts, profit and loss account and balance sheet be sufficiently analysed by cost centres, company and period?

Fees analysis by branch, department, category and fee earner can be produced

Agreed

23 i) Can aged analysis reports be obtained? (sales ledger, purchase ledger, stock).

Income Arrears / outstanding report can be produced. These do not appear on the Reconciled Balances report as this report is a non-cash item.

Agreed

ii) Are the age criteria fixed or user definable?

Standard report - Fixed within categories – 7, 14, 21, over 21

days. A further report can be generated of all arrears and sorted by criteria.

iii) Can the age analysis reports be in summary and/or detail (for credit control)?

Yes Agreed

24 What controls are there in place so that the user is aware of partly processed transactions (e.g. unposted invoices or uninvoiced dispatches)?

The controls are shown on our Organiser report. This includes:- invoices to post, rents to calculate, arrears, contractors to pay etc.

Agreed

25 What controls are there in place to ensure that the correct price/discount has been applied to invoices/credit notes? (eg Gross Margin reports)

Rents charged are based on the Rent per Month field entered on setup and used each subsequent month until it is changed.

Agreed

26 Can the system automatically generate documents for external use? (For example sales invoices and statements, remittance advices and cheques).

Yes – produces client statements etc

Agreed

27 i) Can the system control duplicated documents eg sales invoices?

Invoices raised are logged in a history log and a PDF copy is stored – this can be reprinted as necessary if requested. They are not marked as duplicates on reprinting.

Agreed

ii) Are these clearly identified as duplicates?

Not considered necessary in this software

Agreed

28 Does the system force the production of month-end reports?

No, not required for client cash accounting

29 Following a month end can transactions still be viewed and can the reports be rerun as at a previous month end? In particular - is it possible to print out retrospective aged sales and purchase ledger reports that agree back to the month end trial balance control account figures as at the month end.

N/A N/A

30 Can the reporting function make use of external datafiles?

No, not required Noted

31 Does the report generator have the facility to scroll up and down when output to screen?

Yes Agreed

32 Can all reports be run without the need for period-end procedures to be initiated?

Yes Agreed

33 Does the report generator allow print previews of all reports ?

5.7 Performance of requisite accounting functions

1 i) Can the software be used by more than one person at the same time?

Yes Agreed

ii) Can the same function (eg Purchase ledger) be used by more than one person at the same time?

Yes Agreed

2 i) Can the software support groups of companies, departments, branches? How many such branches or companies can be supported? Can they be consolidated?

Yes, no limit. They can all be consolidated

Agreed

ii) Can the system consolidate entities with different charts of accounts?

N/A N/A

3 Is multi-currency processing available? (What is the maximum number of currencies available?) Is conversion to sterling automatic? (G/L, S/L, P/L, stock) No Agreed

4 What are the currency capacities?

Single currency only Agreed

i) What are the maximum and minimum exchange rates

N/A N/A

ii) What is the maximum number of currencies?

One Agreed

is held? Settings are applied throughout the software

i) Currency code/description

N/A N/A

ii) Country N/A N/A

iii) Currency rate table. N/A N/A

iv) Date rates effective. N/A N/A

v) Previous rates held. N/A N/A

6 User controls?

i) Can the base currency be selected?

N/A N/A

ii) Can the user over ride the exchange rates during a transaction?

N/A N/A

iii) Can the user change the exchange rates per account?

N/A N/A

iv) Is there a restriction on accounts to a single selected currency.

N/A N/A

7 Currency processing

i) Can the user manually over ride the currency calculation?

N/A N/A

ii) Are gains or losses on currency calculations automatically processed?

N/A N/A

iii) Can the user over ride the calculation /processing of currency gains and

losses?

iv) Can the user define the treatment of forex gains/losses (e.g. the nominal to write to)?

N/A N/A

iv) How does the currency treat revaluations relating to:? N/A N/A n Ledgers (sales/purchases) n Monetary assets/liabilities

n General ledger accounts

v) Can ledger accounts be defined to take invoices/payments in specified currencies/ multiple currencies:?

N/A N/A

8 Currency input N/A N/A

i) Does the system prevent the deletion of the active currency.

ii) Does the system prevent use of duplicate currency codes?

iii) Can currency transactions be entered in selected currency and/or base currency?

n/a

iv) Are transactions held in selected currency and/or base currency?

n/a

v) Can transactions be entered in multiple

currencies?

9 How does the system handle exchange differences?

N/A N/A

10 What number of accounting periods are provided by the system?

There are no defined accounting periods

Agreed

i) What is the minimum? N/A N/A

ii) Can the length/ number of periods be adjusted to suit different user requirements?

N/A N/A

iii) How many accounting periods can be open at any one time?

N/A N/A

iv) How many years can be open?

N/A N/A

v) Can a period or year be re-opened after it has been closed?

N/A N/A

11 Are the ends of accounting periods determined by the user rather than being set by the system?

N/A N/A

12 i) Can data from all accounting periods be accessed at any given moment?

Yes – reports can be produced for any period

Agreed

ii) Can previous months be accessed for enquiries or reports?

Yes Agreed

13 i) Does the system allow posting to more than one accounting period at a time?

N/A since this is a client cash accounting system.

ii) Is it possible to allocate transactions to:

a) future periods? N/A – any date can be used for posting

Agreed

b) previous closed periods?

Since this is an open item client cash system, this is irrelevant

Agreed

c) a previously closed year?

Since this is an open item client cash system, this is irrelevant. There are no close downs

Agreed

iii) If the system allows posting to previous or future accounting periods or years, does it:

N/A N/A

a) Flag/warn the user that it is occurring? N/A N/A b) Revise subsequent periods accordingly? N/A N/A c) Will transactions outside the current period be adequately reported and accounted for (eg on the VAT return)?

N/A N/A

14 Does the system permit use of budgets and provide comparisons between budgets and actuals? (G/L, S/L, P/L)

N/A N/A

15 i) What is the maximum value of transactions and of totals, that can be handled by the system?

This is restricted only by the capacity of the user’s system

Agreed

number of transactions that can be handled by the system?

capacity of the user’s system

16 What is the maximum number of accounts on each ledger (eg sales ledger, purchase ledger, nominal ledger)?

2821109907456 (368)

Noted

17 What is the size and format of account numbers on each ledger?

8 digit alphanumeric Agreed

18 Are the control features provided by the software adequate to support effective user controls?

Yes Agreed

i) Transaction sequencing?

Yes Agreed

ii) Automatic dating of posting transactions?

Yes – defaults to today’s date each time

Agreed

iii) Identification of user id or program generating (i.e the source) the transactions?

Yes Agreed

19 Does the system have a facility for calculating interest on late payments?

No – this does not happen in the lettings business – could add if requested

Agreed

20 Does the system allow budgets to be set for:

N/A N/A i) GL? ii) Sales? iii) Purchases? iv) Overheads? v) Balance sheet?

21 Can budgets be set by period?, yearly?:

22 Can the system automatically generate budgets – if so how (eg by % increase on last year/period or by bringing forward historic data)?:

N/A N/A

23 What are the drill down features available on the system?

Drill down features are present in many areas of the program

5.8 Sales Order Processing and Invoice Production

1 Does the system start with a quotation or the sales order?

This is not relevant for our client cash accounting software. 2 Are recurring or schedule

orders handled ?

n/a

3 At quotation or initial order state how does the system:

i) check stock availability n/a ii) highlight alternative stock

n/a

iii) check credit status of customer - is this:

n/a

n on receipt of order

n prior to dispatch

4 Can the system block

n customer orders n deliveries n invoice production n/a n/a n/a 5 Where stock is not available

is a “back order” raised and a purchase order issued?

n/a

6 Does the system handle forward orders?

n/a

n only when stock is now available

n to be allocated from n/a

future planned stock 7 Can multiple addresses be

held for each customer (invoice and delivery address).

n/a

8 Are the following documents produced: n Quotations n Order confirmation n Picking lists n Labels n Dispatch/Delivery note n Invoices n/a n/a n/a n/a n/a Yes 9 Are the following reports

available:

n Quotes for which orders not received

n Orders received (analysis)

n Items placed on backorder and/or purchase orders raised

n Items dispatched not invoiced

n Items ordered but not dispatched due to stock out

n Gross margin (by invoice n/a n/a n/a n/a n/a n/a

or item)

10 Are invoice details derived from order input? (eg prices, quantity)

n/a

11 i) Can picking lists /dispatch notes be amended for non availability of stock? ii) Is this reported?

iii) Items dispatched reflect in final invoice?

n/a

n/a n/a

12 Is there one dispatch note and invoice per order?

n/a

13 How does the system ensure all dispatches are invoiced? eg where multiple dispatches are raised per order, or several orders on a single dispatch note.

n/a

14 Can manual invoices be raised (i.e without a sales order)?

n/a

15 Does the system produce proforma invoices as required?

n/a

16 i) Can returned goods be processed to produce credit notes?

n/a

ii) Are these referenced to the original order/invoice?

n/a

17 i) Will the product accept orders from the Web?

ii) How are Web orders integrated with the sales order processing ledgers?

5.9 Purchase Order Processing

1 Order generation -

i) Does the system generate suggested orders?

ii) Can orders be generated by the user?

N/A

n Is the system easy and efficient to use, i.e scroll backwards and forwards in the product file, tagging more than one item per order?

n Can more than one supplier be allocated to each product?

n Does the system hold details of substitute products if applicable? 2 Based on automatic and

manual order generation (above) does the system produce a list of proposed purchase orders, if so, can these be easily amended? 3 Is stock availability updated

for stock on order?

4 Can the system handle partially completed orders and returns?

orders and discrepancies reported?

6 Are purchase invoices checked to purchase orders, confirmed receipts and discrepancies reported? 7 Are the following reports

available:

i) Purchase Orders raised (analysis)?

ii) Purchase Orders not received?

iii) Goods received discrepancies?

iv) Invoice to goods received discrepancies? v) Goods received not invoiced?

8 Can the system handle “back to back” ordering?

5.10 Stock Control

1 What information is held in respect of stock (and are there any limits):

None of this section is applicable to our software package.

Agreed

n Item numbers/description

n Location(s)

n Quantity, (available, allocated, on order)

n Minimum and maximum stock levels

n Reorder lead times

n Supplier(s)

n Prices/cost/discount details

n Other stock information:

n Batch/serial number

n Weights etc.

2 How is stock updated?

n Dispatch of goods

n Receipt of goods

n Adjustments

n Transfers between locations

3 Is negative physical stock allowed?

or return” stock?

5 Can the system handle variations to a standard pack of products?

6 What methods of stock valuations are allowed? (eg average, FIFO, LIFO, standard, etc).

7 How can stock enquiries be made, i.e by product code, short name/supplier etc. 8 Does the system track orders

and enable enquiries by date, eg list of all stock due on a particular day; stock to be dispatched on a set date? 9 Does the system facilitate

the regular counting/ inspection of physical stock (e.g. by producing random/defined stock check lists)?

10 Can the system handle more complex situations such as:

n Bill of Materials

n Links to CAD/CAM systems

n Job costings to collate and value WIP.

5.11 User documentation

This section applies to any of; online, hardcopy or other (e.g.WWW) documentation – specify which are applicable.

1 Is the manual clearly laid out and understandable?

Yes Noted

2 Is the manual comprehensive and accurate?

Yes – over 300 pages Noted

3 Is there an index to the manual?

Yes Agreed

4 Is it easy to locate specific topics in the manual when required?

Yes Agreed

5 Is it easy to follow through all procedures in the manual?

Yes Noted

6 i) Does the manual include: a) A tutorial section? b) A guide to basic functions? c) Pictures of screens? d) Completed examples included in the manual? e) Specific “error correction” procedures.

No – but there are online helpsheets of commonly asked questions Yes Yes No Yes Agreed Agreed Agreed Agreed Agreed

7 Does the documentation clearly specify the actions to be taken by users at each important stage of processing?

Yes Agreed

8 i) Are help screens available relating to the task in hand? (context sensitive help).

No Agreed

ii) Do they provide on-line instructions on how to use particular features of the software?

Yes Agreed

iii) Can they be edited or prepared by the user?

Yes – own notes can be annotated – which are available globally to all users

Agreed

9 Will the software supplier make the detailed program documentation (eg file definitions for third party links) available to the user, either directly or by deposit with a third party?

5.12 Efficiency

1 Are the various functions of the system menu-driven, or otherwise easy to initiate? Is there a good response time in the initiation of functions?

Yes Agreed

2 Is data entry easily repeated if similar to previous entry?

Yes – as far as is practicable Agreed

3 i) Does the system prevent access to a record while it is being updated? Is the locking at file (eg purchase ledger) or record (eg supplier’s account) level?

The locking is at record level Noted

ii) Does the system allow for the running of reports whilst records are being updated?

Yes Noted

4 Does the system retain a log of file updates until the next occasion on which the relevant information is reported or the relevant file used in a regular control procedure?

The system has been written for maximum efficiency, so therefore this has been accounted for in the system’s architecture.

Noted

5 Can regular reports be easily duplicated if required?

Yes – custom reports can be defined and saved

Agreed

6 Does the system warn the user when space is becoming short?

5.13 Integration and www facilities 1 i) Are the different

accounting applications integrated?

Yes – as applicable to the vertical market

Agreed

ii) Are they integrated on real time basis or batch basis?

Batch basis Agreed

iii) Can the integration of batches be by batch, weekly or monthly?

By batch Agreed

2 Is the ledger updating process satisfactorily controlled by the production of control reports?

Yes – all controlled by Reconcile Balances Report

Agreed

3 What operating systems does the system run under?

Microsoft Windows 2000, XP Professional or Vista

Noted

4 Can more than one system function be performed concurrently?

Yes Noted

5 i) Can the software be linked to other packages eg word processing, graphics, financial modeling, to provide alternative display and reporting facilities?

Yes – export to CSV, RTF etc Agreed

ii) Can definable links to spreadsheets be created?

No Noted

6 Does the system integrate with any web trading software? External or suppliers own?

N/A Noted

7 With what other business application software will the system link? –e g:

n Payroll n Time/fees n MRP n Fixed assets n Document management systems n Job costing

8 Is the software compatible with XML standards? If so in what respect? (input/ output/ other)?

CSV, not XML, and for outputting information

5.14 Support and maintenance 1 Will the supplier or dealer

provide corrections to the programs? Are bug fixes free of charge - for how long?

Yes – free of charge if under a current support agreement

Noted

2 Will the supplier or dealer provide general enhancements to the programs? Will these be provided automatically? Will they be given free of charge?

Yes – free of charge if under a current support agreement

Noted

3 Will the supplier, dealer provide “hot line” support to assist with immediate problem solving? If so, at what cost? At what times will this support be available?

Yes

The cost is calculated on the number of licences etc.

Support is provided from 9.00am until 5.30pm, Monday to Friday

Noted

4 Is the supplier or dealer capable of giving sufficient ongoing education and training and other support?

Yes – there are 9 full time training staff available across the country

Noted

5 Can the supplier, dealer or some other organisation provide all the hardware, software and maintenance requirements of the user?

The company can provide all support and maintenance requirements for both hardware and software

Noted

6 Is there nationwide support:

n Telephone n Modem link/WWW n local dealers/support Yes Yes Yes Noted Noted Noted 7 Is a warranty offered in respect of specification of the system?

8 Will the software supplier/dealer make the program source code available to the user, either directly or by deposit with a third party (Escrow)?

Yes – in Escrow upon request Noted

9 Are there any unduly restrictive conditions in the license for the software?

No Noted

10 Would the software house be prepared to accept the Institute of Purchasing and Supply model contract?