With the addition of the Sage Intacct Construction Edition, it is extremely important to know where to enter and process data within Sage Intacct. Here is a quick guide to top level vs entity level data entry for Sage Intacct Top Level Entity Level Company Users Groups Subscriptions Entities Dimensions: Customers Vendors Employees Locations Departments […]
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Should you convert your LLC into an S Corporation? The federal self-employment (SE) tax just keeps going higher and higher. If you’ve reached the breaking point, there may be a way to tame the SE tax beast by converting your existing unincorporated small business into an S corporation. How to evaluate the option If you’re a
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Don’t Underestimate: BIM ‘BIM’ around the block! Building information modeling (BIM) has been around for about 50 years now (Wikipedia). Yes! You read that right – 50 years. Though in the 1970s when the concept was developed, BIM (as we know it today) wasn’t really implemented until the late 1980s. So I guess we can
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Strategically plan your software lifecycle Planning a Company Growth Strategy If you’ve ever been through a Strategic Planning exercise for your company (and I highly recommend it), you are instructed to brainstorm your goals and KPIs in phases. Often companies are so caught up in the short-term worries of cash flow or change management,
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How to Fight Internal Fraud Quarter million (plus) in losses! Internal fraud drains more than $3.7 trillion annually from global businesses, according to an estimate by the Association of Certified Fraud Examiners (ACFE). The median loss from internal fraud at companies in the construction industry is $259,000, according to ACFE’s latest Report to the Nations.
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Tax Savings and Cost Segregation Studies Has your company invested in buildings this year to rent out or use for business purposes? Real estate investors have used cost segregation studies for many years to lower their tax bills. In a nutshell, these studies divide property into smaller parts, allowing for faster depreciation of certain parts
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What are the best practices for Project Management? Link financial and operational efficiencies Effective Project Management software—such as the Project Management (PJ) module in Sage 300 CRE—should create a strong connection between financial oversight and operational efficiency. When aligned properly, these elements empower your business to grow more strategically. By following industry best practices,
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Create separate configurations for production and testing With the newer versions of Sage SQL Estimating there have been new functions within the software — did you know there is a functionality surrounding the Database platform itself? SQL itself brings a great deal of functionality and resources to its users one of which is the ability
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Software Integration: The whole becomes greater than the sum of its parts Adding an application that fully and properly integrates with your primary data will expand your capabilities! Realize the potential in the power of software integration. Think about your software and what was implemented first – General Ledger, Payroll, Accounts Payable, Job Cost. You might
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Safeguard Your Software from Cyber Threats Borrow from the ‘biggies’ when it comes to Cybersecurity Cybersecurity is a significant priority for everyone these days. It can also be a complex and confusing issue. Like many business problems, the best way to safeguard your software from cyber threats is with an overall strategy. Googling “cybersecurity”
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Want guaranteed profits? Manage your job costs! Job costs are the lifeblood of your construction business and accurately estimating them will determine if a project will make money. Managing job costs across the life of the project will ensure that your firm makes money on every job. Moreover, those job-by-job profits make the office and
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