Sage 300 CRE Top 5 Tasks to Complete for Month End Close in Sage Timberline

hello my name is Olivia Romer I am a
Sage 300 certified consultant at tag a
premier sage partner for construction
software with offices located throughout
Southern California today we are going
to discuss five things you should do
when closing the month in Sage 300
construction in real estate
many Sage 300 construction and real
estate users ask me what should I do
when closing the month in sage good
question there are a few tasks you
should complete when closing the month
and sage but today I am going to discuss
the top five things you should perform
each month number one backup data files
one of the most important tasks you can
do prior to closing the month in Sage
300 construction and real estate is
backing up your data as a part of your
daily IT routine you should make sure
that you are fully backing up your Sage
300 construction real estate data when
you are closing the month however you
should make sure to make a backup of
your data through Sage 300 construction
and real estate to do a backup at Sage
300 construction in real estate
complete the following steps go to
common tasks tools file tools select
backup hit next select your data folder
hit next select where you want the
backup file I'm going to put it on my
desktop just as an example add a file
name for your backup
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hit next the software will check to see
if the files are in use if any files are
in use it will not let you continue
through the backup process it is best to
make sure everyone is out of the system
prior to completing a backup of your
data as you can see the validation
process is complete and no files are in
use so hit next these are all the files
that I will be backing up if there are
certain files you don't want to include
you can click on the file hit skip and
it will not include that file in the
backup
I suggest including all of these files
in your backup hit next and next you
will see now that all the files are
being backed up after the data files are
backed up it will show you this report
make sure that the report says
successful which ours does then hit
finish you have now completed a backup
of your Sage 300 construction and real
estate data congratulations
number 2 confirm all transactions are
posted next go into each application and
confirm all transactions are posted you
can do this by going to tasks post
entries then select start to confirm
that all entries have posted go to
inquiry entries all entries select the
new file hit OK
this will show you any transactions that
are unposted number 3 print month and
reports to confirm that everything is in
balance you should run the following
reports first in accounts payable you
should run the invoice aging with cutoff
date or the invoice aging by job with
cutoff date these two reports are
designed to tie with your balance sheet
in a
accounts receivable you should run the
unpaid detail report this report is
designed to tie to your balance sheet in
cash management you should run the bank
reconciliation report and the bank
balance verification report the adjusted
bank balance or adjusted register
balance on the bank reconciliation
report should tie to your balance sheet
if you're using equipment costing you
should do the cost by account reports
and the revenue by account reports both
of these should tie to your income
statement in general ledger you should
run your trial balance or working trial
balance to confirm that everything is in
balance with your other applications in
job cost you should run the close month
validation report this confirms that all
job cost entries tie with your general
ledger and last but not least is payroll
in payroll you should run the burden by
debit account deductions by credit
account fringes by credit account and
taxes by credit account the totals here
should match your balance sheet number
for clothes modules for the month there
are four modules that will need to be
closed from month to month contracts job
cost payroll and general ledger the
closed month process in the contracts
module will update the month to date
prior month and year to date total
Billings approve change orders and
contract totals the closed month process
in the job cost module will update the
month to date prior month quarter to
date and year to date totals for
estimates contracts Billings commitments
and costs the closed month process in
the
payroll module will update the month to
date prior month quarter to date and
year to date totals for earnings
deductions and fringes to do this go
into the respective application go to
tasks close month in contracts in
general ledger go to tasks closed
current period in job cost go to tasks
closed month and in payroll go to tasks
closed month number five general ledger
the final step the final step in
finalizing your financial statements for
your current month once you're to the
point where you will no longer make
adjustments to the current month you
will want to close the month in general
ledger the close month process in the
general ledger module will update the
month a date prior month quarter to date
and year to date totals for all general
ledger accounts with changes in the
current month when you complete the
close month process this will then
prevent transactions from being posted
to the close month congratulations
you have now completed the month and
closing process in Sage 300 construction
real estate what is your month end
routine what reports do you run every
month let us know in the comments below
want to learn more about Sage 300
construction and real estate visit our
website WWE tag net or email us at
Timberline at team tag net thank you for
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