Using monthly routines in Sage 100 Contractor

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.

To perform monthly accounting tasks:

1. Perform the following General Ledger tasks:
   1. In the 1-1 Checks/Bank Charges window, post service charges from the bank statement.
   2. In the 1-2 Deposits/Interest window, post interest earned on bank accounts.
   3. Reconcile checks by doing the following:
   4. In the 1-5 Bank Reconciliation window, print the preliminary check reconciliation report.
   5. In the 1-5 Bank Reconciliation window, print the final check reconciliation report and file it with the bank statement.
   6. Manually reconcile petty cash.
   7. In the 1-3 Journal Transactions window, post journal transactions to adjust the general ledger.
   8. In the 6-1-7 Over/Under Billing Report window, make any applicable billing adjustments.
   9. Enter fixed assets depreciation.
   10. In the 1-6 Period/Fiscal Year Management > Change Period window, chance the posting period.
   11. Make a monthly backup of company data.
   12. Try to repair any errors that may exist.

   13. If errors persist, contact Customer Support.

       Visit Sage Customer Resources (www.SageCity.com/Resources) for links to Live Chat and Online Case submission.

2. Generate the following accounting reports:
   • In the 2-2 Balance Sheet window, print and review the Balance Sheet.
   • In the 2-3 Income Statement window, print and review the 31-Income statement—Period and YTD report.
3. Perform the following Accounts Receivable tasks:
   1. In the 3-7 Progress Billing window, prepare and update the progress billing.
   2. Submit the invoices for approval.
   3. After approval, in the 3-7 Progress Billing window, post the invoices to the general ledger.
   4. In the 3-8 Loan Draw Requests window, prepare and update the loan draw requests.
   5. In the 3-9 Unitary Billing window, prepare and update the unitary billing.
   6. Submit the invoices for approval.
   7. After approval, in the 3-9 Unitary Billing window, post the invoices to the general ledger.
   8. Prepare statements by doing the following:
      1. In the 3-4 Statements window, print statements without finance charges.
      2. In the 3-4 Statements window, print statements that include finance charges.
   9. In the 3-5 Jobs (Accounts Receivable) window, change the job status for completed jobs.
   10. Perform the following collections tasks:
       1. In the 3-1-3 Receivable Aging window, print and review aging reports.
       2. In the 3-1-5 Receivable Call Sheet window, print the receivable call sheet.
       3. Contact any overdue accounts to request payment.
       4. In the 3-1-9 Overdue Receivable Reminder window, print overdue receivable reminders.
   11. Perform the following Service Receivables tasks:
       1. Prepare statements by doing the following:
          • In the 3-4 Statements window, print statements without finance charges.
          • In the 3-4 Statements window, print statements that include finance charges.
   12. Perform the following collections tasks:
       1. In the 11-1-3 Service Aging window, print and review aging reports.
       2. In the 11-1-5 Service Call Sheet window, print the service receivable aged call sheet.
       3. Contact any overdue accounts to request payment.
       4. In the 11-1-11 Overdue Service Reminder window, print overdue service receivable reminders.
4. Perform the following Accounts Payable tasks:
   1. In the 4-1-3 Payable Aging window, print and review aging reports.
   2. In the 4-1-1 Vendor List window, print and review the 41-Vendor Insurance report to determine which vendors have expired insurance.
   3. If applicable, in the 4-1-6 Vendor Documents window, print and mail notification letters for expired insurance.
5. Perform the following Payroll tasks:
   1. If your company makes monthly tax deposits, prepare the 941 and state tax deposit payments by doing the following:
   2. In the 5-1-4 State Tax Report window, print the state tax report.
   3. In the 5-4-1 Federal Forms window, calculate the 941 tax liability.
   4. If applicable, manually update line 14-Total deposits for quarter.
   5. In the 1-1 Checks/Bank Charges window:
      1. Enter the checks.
      2. Print the checks.
   6. If applicable, in the 1-3 Journal Transactions window, enter a general ledger transaction for telephone/automatic payments.
   7. In the 5-1-5 Workers Comp Report window, print the applicable Workers’ Compensation report.
   8. In the 5-1-7 Union Reports window, print union reports.
6. Perform the following Project Management tasks:
   1. In the 6-8-1 Cost to Complete window, prepare the Cost to Complete report.
   2. If applicable, in the 6-4-1 Change Orders window, adjust job budgets using change orders.
   3. In the 6-1-7 Over/Under Billing Report window, print the over/under billing report for open jobs.
   4. In the 6-1-8 Bonding Report window, print the bonding report.
   5. In the 8-6 Equipment Depreciation window, post the equipment depreciation.
7. Make a monthly backup of company data.