We recommend that you perform the following tasks on a monthly basis. Be aware, however, that you may need to customize your list of monthly accounting tasks to fit your company’s specific needs.
| 1 | Perform the following General Ledger tasks: |
| a | In the 1-1 Checks/Bank Charges window, post service charges from the bank statement. |
| b | In the 1-2 Deposits/Interest window, post interest earned on bank accounts. |
| 2 | Reconcile checksby doing the following: |
| a | In the 1-5 Bank Reconciliation window, print the preliminary check reconciliation report. |
| b | In the 1-5 Bank Reconciliation window, print the final check reconciliation report and file it with the bank statement. |
| 3 | Manually reconcile petty cash. |
| 4 | In the 1-3 Journal Transactions window, post journal transactions to adjust the general ledger. |
| 5 | In the 6-1-7 Over/Under Billing Report window, make any applicable billing adjustments. |
| 6 | Enter fixed assets depreciation. |
| 7 | In the 1-6 Period/Fiscal Year Management > Change Period window, chance the posting period. |
| 8 | Make a monthly backup of company data. |
| 9 | Try to repair any errors that may exist. |
| 10 | If errors persist, call Customer Support. |
| 11 | Generate the following accounting reports: |
| a | In the 2-2 Balance Sheet window, print and review the Balance Sheet. |
| b | In the 2-3 Income Statement window, print and review the 31-Income statement—Period and YTD report. |
| 12 | Perform the following Accounts Receivable tasks: |
| a | In the 3-7 Progress Billing window, prepare and update the progress billing. |
| b | Submit the invoices for approval. |
| c | After approval, in the 3-7 Progress Billing window, post the invoices to the general ledger. |
| d | In the 3-8 Loan Draw Requests window, prepare and update the loan draw requests. |
| e | In the 3-9 Unitary Billing window, prepare and update the unitary billing. |
| f | Submit the invoices for approval. |
| g | After approval, in the 3-9 Unitary Billing window, post the invoices to the general ledger. |
| 13 | Prepare statements by doing the following: |
| a | In the 3-4 Statements window, print statements without finance charges. |
| b | In the 3-4 Statements window, print statements that include finance charges. |
| c | In the 3-5 Jobs (Accounts Receivable) window, change the job status for completed jobs. |
| 14 | Perform the following collections tasks: |
| a | In the 3-1-3 Receivable Aging window, print and review aging reports. |
| b | In the 3-1-5 Receivable Call Sheet window, print the receivable call sheet. |
| c | Contact any overdue accounts to request payment. |
| d | In the 3-1-9 Overdue Receivable Reminder window, print overdue receivable reminders. |
| 15 | Perform the following Service Receivables tasks: |
| a | Prepare statements by doing the following: |
| i | In the 3-4 Statements window, print statements without finance charges. |
| ii | In the 3-4 Statements window, print statements that include finance charges. |
| b | Perform the following collections tasks: |
| i | In the 11-1-3 Service Aging window, print and review aging reports. |
| ii | In the 11-1-5 Service Call Sheet window, print the service receivable aged call sheet. |
| c | Contact any overdue accounts to request payment. |
| d | In the 11-1-11 Overdue Service Reminder window, print overdue service receivable reminders. |
| 16 | Perform the following Accounts Payable tasks: |
| a | In the 4-1-3 Payable Aging window, print and review aging reports. |
| b | In the 4-1-1 Vendor List window, print and review the 41-Vendor Insurance report to determine which vendors have expired insurance. |
| c | If applicable, in the 4-1-6 Vendor Documents window, print and mail notification letters for expired insurance. |
| 17 | Perform the following Payroll tasks: |
| a | If your company makes monthly tax deposits, prepare the 941 and state tax deposit payments by doing the following: |
| i | In the 5-1-4 State Tax Report window, print the state tax report. |
| ii | In the 5-4-1 Federal Forms window, calculate the 941 tax liability. |
| b | If applicable, manually update line 14-Total deposits for quarter. |
| c | In the 1-1 Checks/Bank Charges window: |
| i | Enter the checks. |
| ii | Print the checks. |
| d | If applicable, in the 1-3 Journal Transactions window, enter a general ledger transaction for telephone/automatic payments. |
| e | In the 5-1-5 Workers Comp Report window, print the applicable Workers’ Compensation report. |
| f | In the 5-1-7 Union Reports window, print union reports. |
| 18 | Perform the following Project Management tasks: |
| a | In the 6-8-1 Cost to Complete window, prepare the Cost to Complete report. |
| b | If applicable, in the 6-4-1 Change Orders window, adjust job budgets via change orders. |
| c | In the 6-1-7 Over/Under Billing Report window, print the over/under billing report for open jobs. |
| d | In the 6-1-8 Bonding Report window, print the bonding report. |
| 19 | In the 8-6 Equipment Depreciation window, post the equipment depreciation. |
| 20 | Make a monthly backup of company data. |
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Using daily routines in Sage 100 Contractor |
For additional online resources for Sage 100 Contractor products, visit the Sage Customer Portal. Use the portal to access the knowledgebase, chat online with customer support, or enter a customer support ticket.
For additional training on Sage products, visit Sage University.