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Home » Newsletters » Sage 300 Newsletter – April 2016 » Managing Large Capital Projects in Sage 300

Sage 300 Newsletter – April 2016

Keeping You Up-To-Date With Information About Sage 300

Managing Large Capital Projects in Sage 300

By: Suzie Weiland, Senior Business Analyst

Managing Large Capital Projects in Sage 300So you have a major capital project that is going to take months to complete and has hundreds of separate transactions, such as Purchase Orders, AP Invoices, employee time expense, etc. How do you manage the project, watch the budget and track all the expenses and employee time so they can be capitalized and moved to a balance sheet account. We have several options to assist.

Sage FAS options
FAS has a Planning module. This has nice snapshot charts and good reporting but all the entry is manual. All Sage 300 transactions have to be re-entered into the project. Once the project is finished, you can create a fixed asset in FAS.

Norming options
Norming has a more robust solution in that you can create an asset – Corporate Headquarters – and then all Sage 300 invoices, internal payroll, purchase orders can be added to the fixed asset. An audit trail of transactions is maintained, and there is a report to budget, but reporting is not robust. In addition, the Sage 300 transactions are added to the fixed asset after the transaction is posted, which still means the end user has to keep track of all the transactions and make an additional entry. Once the asset is completed, the status is changed from WIP to a depreciable asset.

Service Manager with Norming or FAS
The process is more streamlined with Service Manager. All PO’s and AP invoices can be directly assigned to a job (multiple jobs can make up one “project” or asset) by line item, so mixed invoices can be handled properly. In addition, internal users can use Field Connect to capture actual time to the job if relevant. This solution also provides a scheduling option if the end users need to keep track of sub-contractors and the work that is supposed to be completed. Much more robust standard reporting, budget against actual and the ability to further classify the types of costs involved if needed.

Once the job or project is completed, the fixed asset would need to be created in FAS or Norming.

Maintaining the fixed asset going forward can be handled with Service Manager or Norming, both provide the ability to manage maintenance of the fixed asset. This also gives a history for the fixed asset, so when the time comes to judge a fix or replace situation, all the relevant data is available.

For more information, please contact us at 888-494-9479 or helpdesk@netatwork.com.

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In This Issue
  • From the Desk of the Sage 300 Practice Director
  • Sage 300 Backup Procedures
  • Sage 300 Payment Processing: Ten Reasons to Integrate Your Payments
  • Managing Large Capital Projects in Sage 300
  • Sage 300 Tips: Look Up Payment Information & AP/AR Invoice Entry Quick Mode
  • The Basics of Connecting to Sage 300 Using the API
  • Are You Spending Too Much on Your Business Technology? Or Too Little?
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