Projects, engagements, campaigns, jobs, however you refer to them; tracking the individual revenue, expenses, and profitability of each one is critical to the growth and success of almost any professional services company. Sage Intacct’s Project Accounting Software provides undeniable benefits in tracking and managing project success at your firm.
Over the last few decades, companies of all sizes have spent (cumulatively) billions of dollars on ERP (enterprise resource planning) systems, traditional MRP (material requirements planning) systems, advanced forecasting systems, and supply chain operational enhancements. The goal, presumably, in all of these expenditures of time, energy and capital, was ROI (return on investment).
The promise of ERP and traditional MRP systems was that better information would lead to lower inventory investments, thus freeing up cash for other uses in the enterprise.
QUESTION: How is that working out for you? If you look back over the last decade or two, are you seeing real payback from your investment, or are you just squeezing out the results of organic growth in your business and the economy? Continue to Article…
Sage Expense Connector
The RKL Expense Connector includes a series of tools which make A/P Automation with Concur or Certify Expense fully integrated with your ERP system. The connector provides a seamless integration between Concur Expense, Concur Invoice or Certify Expense, and can be connected with your Sage Enterprise Management or Sage 500 System.
The tool includes a base connector, along with several add-ons which can be purchased, depending on the needs and requirements of the client’s integration.
Struggling to monitor and grow your business with a single QuickBooks “Class” dimension?
Sage Intacct supports an unlimited number of dimensions that can be tailored to fit each company’s exact needs. Sage Intacct’s dimensions gives users the ability to track and report on financial and operational data while simplifying the chart of accounts. For example, with the project dimension, entertainment companies can easily tag and track revenue and expenses by title or episode without requiring the use of a dedicated project accounting module.
Sage Intacct allows users to “tag” transactions and operational data with all relevant dimension values. Tagging transactions with appropriate dimension values, instead of coding transactions to long, complex GL account strings, enables users to quickly and easily add essential business context all of your accounting data. Once a dimension is created, it can be attached to any transaction—general ledger, receivables, payables, time, revenue management, fixed assets, and more. And as your business grows or changes, you can easily add extra dimensions to track additional details.
With Sage Intacct, LegendaryEntertainment was able to tag each financial transaction with key dimensions: customer, series, episodes, and more. Giving them the flexibility to report and analyze performance for 12 unique data dimensions. Not only did Legendary get improved visibility into financial performance of films, shows, seasons, episodes, etc. they recognized a $100,000/year savings from a reduction in manual activities and reduced headcount. Read Legendary Entertainment Success Story
Dimensions are integrated into the user interface of Sage Intacct’s financial report writer
Sage Intacct dimensions allow you to filter transactions by multiple factors (e.g., revenue by film title by download method), so you can determine where you are making money versus losing money. Sage Intacct has the ability to get you requested metrics in seconds, and avoid the hassle of transferring data to spreadsheets for manual manipulation.
Dimensions allow you to slice and dice your financials to create more focused analysis. With multi-dimension tags you can capture more granular operational and financial data tailored to your business.
By applying dimensions you can analyze your business in ways not possible with a simple accounting solution. Use dimensions to tell the story of your transactions.
RKL eSolutions and Sage Intacct Play Leading Roles at Legendary Entertainment
Is your organization looking for ways to maximize the month end close process, reduce inefficiencies, eliminate manual effort and break free from a legacy, spreadsheet-driven approach? Sage Intacct and FloQast together help transform a legacy headache to a current day piece of cake!
Elements of the Close
There are four elements that influence a successful month-end close; people, process, documents, and reconciliations. Do you have an effective means to help your people process the month-end documents? Let’s evaluate how using a cloud solution like FloQast can improve your period-end close.
Legendary Entertainment’s budgeting and planning processes were bogged down in spreadsheets. As they grew from a company that had five entities to one with over 20, excel was no longer going to cut it.
Automation has become a key priority for finance leaders.
According to the 2018 Expense Management Trends Report by Certify, Inc., 18 percent of organizations are planning to upgrade from manual systems to a web-based expense management tool. And more than three quarters (77 percent) of organizations planning to switch to a new expense management provider, will do so within the next 12 months.
The benefits are clear: reduced costs, greater control over expenses, increased policy compliance, improved staff productivity, and enhanced visibility. But if your organization is planning to make this shift, do you have a roadmap in place to ensure the switch will be seamless?
We know sales tax is already confusing and tedious. According to the 2017 Wakefield Report, Finance professionals spend on average 18 hours a month reconciling and filing sales tax returns.
If your company is expanding into new geographies wouldn’t it be helpful to have a tax compliance guideline? Get your 2018 States and Dates Guide today!
In Sage Enterprise Management (SEM/X3) you can create a Back-to-Back Order where a Purchase Order is created directly from a Sales Order. Have you ever had the problem or wondered what to do if you have multiple Suppliers that you use for the product and will need to use different Suppliers for certain Back-to-Back Orders? You can actually set the Supplier to be chosen by Priority.
Sage EM/X3 will pick the supplier with the priority closest to 0, in this case, the second on the list, also note that any Supplier that you want to use for Back-to-Back Orders must have the Back-to-Back box checked.
Need to reverse validated shipment in Sage EM
There may be incidents where a shipment may have been created and posted by mistake or the shipment needs to be reversed and/or deleted for other reasons. The below steps will walk the user through this process:
If the shipment has not been invoiced the “Modification of Issues” function is available when the shipment is validated (but not invoiced) and when the shipment line involves a product managed in stock.
1. Click the Action box on the shipment line and select “Modification of Issues”