PROJECT COST SOLUTIONS
When tracking your project costs in Sage 50, the first thing we must understand is that Sage 50 was never designed to manage construction project costs.
It results in a lot of duplication of work, and it also results in disconnection across the company.
For example, you might have people in the company that are responsible for tracking project costs, or committing the project cost, who are not essentially the same people that you want to have in and around your Sage 50.
One of the processes that gets affected by this is the idea of 3-Way matching project invoice cost. So if you look at any good accounts payable process, or good account payable system, it will say that every invoice that lands into the company must have proof of order and proof of delivery.
And this is incredibly difficult to achieve in Sage 50. What we need to do is set up the project external to Sage 50, connect everybody to that project in a role and with a permission set that makes sense to that particular role, then have the ability to use smart technology to extract data and do the stuff that Sage 50 asks us to do manually.
For example, when we send invoices in, we can send invoices into a dedicated inbox. We can use smart technology to scan and extract all the data from those invoices, and that’s automatically going to reconcile the purchase order, track the delivery, collect the line items, do fluctuation of product cost, and connect that into Sage 50 once it’s been approved.
We’re not recreating every single transaction.
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