Configuring Retainage in Sage Intacct Sage Intacct has added the ability to handle retainage in the Construction edition. Below are the steps to set up Retainage in your system. Configuring Accounts Receivable Retainage In Sales Intacct In the Accounts Receivable Module, under Configuration, Enable AR Retainage and choose the correct General Ledger Account and Invoice
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How to Pay Bill by Job In Sage Intacct, you can Pay Bills by a job by following these steps: Under the Pay Bills Screen click on the “Filter By” option and select “Add a filter set” Create a new filter Make the Filter Name equal to the Job Number. Click the “Share Filter” option
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Project Change Orders have been added to Sage Intacct in 2021 R3. You have the ability to: Link one or more change requests (added in R2) to a project change order Easily reference the total price and costs of all linked change requests Align statuses between the project change order, change requests, and estimate changes.
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Using best practices when setting up Project Estimates within Sage Intacct allows you to enter projected costs against the Project, Cost Codes, and Cost Type. You can create change order estimates. Once set up, you can then track the actual costs against your estimate. Sage Intacct tracks this by posting the Project Estimates to the
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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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