Best Practices for Sage 300 CRE Month End

Best Practices for Sage 300 CRE month-end

Even in organizations that have used Sage 300 CRE for many years, shortcuts are often taken, procedures skipped, and best practices for Sage 300 Construction Real Estate month-end are ignored.

Furthermore, omitting what may seem to be non-critical steps can lead to huge headaches later on. In addition, performing month-end tasks will lower the risk of major issues with your software and inaccuracies in financial reporting. Above all, we recommend completing these tasks for each application in the following order:

1. Accounts Payable

Post invoices and verify that all invoices are posted
Print checks
Record manual checks
Print month-end reports
Reconcile with General Ledger
Back up data files (using File Tools)

2. Payroll

Post checks and verify that all printed checks are posted
Print month-end reports
Reconcile with General Ledger
Make any necessary corrections
Back up data files (using File Tools)
Close month

3. Billing

Create invoices
Post invoices and verify that all printed invoices are posted
Accounts Receivable
Post invoices
Print month-end reports
Reconcile with General Ledger
Make any necessary corrections
Back up data files (using File Tools)

4. Contracts

Post entries and verify that all are posted
Print month-end reports
Back up data files (using File Tools)
Close month

5. Equipment Cost

Post entries and verify that all entries are posted
Print month-end reports
Reconcile with General Ledger
Make any necessary corrections
Back up data files (using File Tools)
Close month

6. Job Cost

Post entries and verify that all entries are posted
Print month-end reports
Reconcile with General Ledger
Make any necessary corrections
Back up data files (using File Tools)
Close month

7. Property Management

Post entries and verify that all entries are posted
Print month-end reports
Reconcile with General Ledger
Make necessary corrections
Back up data files (using File Tools)
Close current period

8. Cash Management

Post entries and verify that you have posted all entries.
Reconcile to your bank statement
Print month-end reports
Back up data files (using File Tools)

9. General Ledger

Post entries and verify that you have posted all entries.
Print month-end reports
Reconcile with Accounts Payable, Cash Management, Job Cost, Equipment Cost, and Payroll
Make any necessary corrections
Back up data files (using File Tools)
If you made corrections, reprint the month-end reports.
Close current period

If you aren’t sure what reports to run, have unposted transactions that you don’t know how to correct, encounter difficulty reconciling with General Ledger, or have other concerns or issues related to month-end processing, one of our skilled consultants at ETHOSystems would be happy to assist you.

Related article: How to print Sage 300 CRE reports to Excel.

ETHOSystems is a multi-award-winning provider of integrated business software solutions and support for Sage Construction and Real Estate industries. We focus on key areas such as Accounting, Project Management, Estimating, Construction Management, and Payroll. With over 35 years of hands-on experience we place a strong emphasis on recommending, implementing, and supporting solutions that help our clients succeed.

At ETHOSystems, our goal is to set up the best systems, in the best way, to ensure long-term success for every client we serve.

Submitted by Kyle Zeigler, Sage Senior Certified Consultant