Essential Sage 100CON Tasks for This Time of Year
As the seasons change, so do the financial and operational essential tasks and for Sage 100CON, whether you’re closing out the first quarter, preparing for tax filings, or managing budgets for upcoming projects, now is the perfect time to ensure your system is optimized for success. Here are the key tasks you should focus on at this time of year.
Quarterly Financial Review
Before moving forward, it’s important to first look at how your business performed during the last quarter.
- Run financial reports such as the Balance Sheet, Income Statement, and Job Cost Reports.
- Review accounts receivable and payable to ensure there are no outstanding invoices or overdue payments.
- Verify cash flow projections to ensure you have enough liquidity for upcoming expenses.
- Most importantly, COMPARE this quarter’s results to projections and last year’s performance.
Payroll and Tax Preparation
Tax deadlines can sneak up quickly, so staying ahead is key.
- Ensure all payroll tax filings have been completed and submitted – including quarterly tax filings such as 941s and state unemployment reports.
- Reconcile payroll liabilities to confirm accuracy in deductions and benefits.
Job Costing and Budgeting
As projects ramp up and prices change, accurate job costing and budgeting are essential.
- Review job cost reports to assess profitability and identify potential cost overruns.
- Update estimates and budgets based on the latest cost projections.
- Ensure change orders are accurately reflected in the system to avoid discrepancies or lost revenue. Review approval procedures to be as timely as possible.
- System Maintenance and Data Cleanup
Information Cleanup
A well-maintained system runs more efficiently and prevents costly errors.
- Check and update your software version. Update sql and Windows to comply with current requirements.
- Perform Payroll Archives and General Ledger Archives.
- Merge duplicate vendors and customers. Delete unwanted records or mark as Inactive if deletion is not possible.
- Check the Backup schedules in Database Administration to ensure the proper files are backed up and copies and notices are being sent to the proper places. Check the backup log for any errors. Restore a backup with another name as a test.
- Software Updates and User Training
System Updates
Keeping your Sage 100CON software up to date ensures smooth operations and compliance with the latest regulations.
- Check for and install any software updates or patches.
- Train staff on any new items or best practices. Check the release notes with each version for descriptions of new features.
- Review security settings to ensure user access levels are appropriate.
Planning for the Remainder of the Year
It’s a great time to set yourself up for success in the coming months.
- Revise Operating and Project Budgets and set up a schedule to review Project Costs and Financial data regularly.
By staying proactive with your Sage 100 CON software for your financial management tasks, you can ensure your business remains financially healthy and well-prepared for future growth. Use 100 CON to help streamline your operations and keep your projects on track for a healthier business.
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