Cabbage for Sage 300 Construction & Real Estate | Sage 100 | Work-in-Progress, Job Costing

Cabbage is a Sage 300 enhancement for construction accountants and project managers that streamlines the process of tracking the financial health of their projects with Sage 300 Generating a work-in-progress schedule is time-consuming due to a lack of real time interaction with your data This makes for the repetitive task of generating contracts and progress reports penciling in changes and then reviewing for accuracy before manually finalizing the work-in-progress schedule Cabbage enables real-time data manipulation inside the contracts in progress report which significantly reduces the lengthy process of verifying changes once you are satisfied with your changes to the contracts in progress support cabbage will automatically generate an accurate working progress schedule if You would like to learn more about how cabbage can improve your workflow keep watching or? Use the form below to request the consultation and one of our sales representatives will be in contact with you shortly Let’s take a closer look at out cabbage works in order to generate the work-in-progress schedule We must first review and update the contracts and progress view for each project This is the contracts in progress view it is divided up into a few major sections in the upper left You have the job selection panel in the upper, right? You have the summary dashboard where you can find useful information Both generated by the contract in progress view and directly imported from Sage 300 CRE The middle section is a detailed cost estimate of the project which is an interactive table Representing the progress of the job from start to finish at the category level this is where the adjustments are made to the contracts in progress view as You adjust the contracts in progress view The bottom section updates in real time to reflect the changing profit values for the job Which is a huge improvement over the lengthy process of doing this manually through Sage 300 CRE Let me walk you through a few examples Committed cost is the dollar value of contracts issued to subcontractors Once all contracts for cost code are complete You only need to check the bought out box on the right of the screen To see if you have an increase or decrease to profit If the buy up value is positive then the cost increases and profit is lost But if the buyout is negative, then the cost decreases and profit is gained once you check the buyout box The profit is immediately updated When a bid is prepared certain assumptions are made by the estimating Department as to how the project will be completed But once the project is handed over to the project management team. Those assumptions are subject to change To maintain the integrity of the original estimate revisions are made in the estimate revisions column This is done by clicking the box of the estimate leading change and entering the plus or minus value of the change These changes are reflected immediately and the total value should always equal zero in addition. You can provide a description for each change Adjusting the cost to complete is just like making an estimate revision You just click the box of the line-item Leading change and then you to the plus or minus value of the change. You can also provide a description for each change By checking the status complete checkbox We are eliminating the estimated cost to complete for the line-item by doing this your cost of completion will equal the actual cost today With both the committed cost and the actual cost a date You can click on the box to the far right of the screen and instantly see the detailed makeup of the value How many times have you had to take the time to run another report to investigate? What makes up the amount in question? Cabbage makes this extra step unnecessary You can click on the box next to approve contract changes to verify what change orders have been approved It is often necessary to adjust a work-in-progress Schedule for issues that cannot be addressed at the contracts in progress level You may need to adjust the revised contract value for pending change or to work when the cost has been posted to the project Without this adjustment the gross profit would be understated As we all know it is necessary to reconcile the work-in-progress schedule to the income statement if they are out of balance You must undergo a lengthy process of reconciliation This is an extremely time-consuming task Cabbage eliminates this chore by identifying these items for you automatically When all changes are made to the individual projects You are ready to access the current work-in-progress preview. The current work-in-progress preview has four tabs The first tab is a listing of the uncompleted project tab – displays the project’s complete in the current year Tab 3 is for the general ledger reconciliation and tab 4 is for closed job activity The general ledger Reconciliation identifies all transactions that caused a work-in-progress schedule in the youcome statement to be out of balance with each other normally all job cost transactions have a corresponding cost of sales general ledger account and all revenue transactions have a corresponding revenue general ledger account Cabbage identifies those transactions that have one or the other and not both This allows you the opportunity to make corrections prior to closing the month The closed job activity identifies transactions for projects not being tracked on the work-in-progress schedule Usually the projects have been closed in a prior year, but activity is still required in the current fiscal year both the general ledger Reconciliation and the closed job activity tabs are automatically combined on the work-in-progress summary report This allows the working progress report to reconcile with the current year financial statement Once you have reviewed the current work-in-progress preview You can click the Print Whip summary button and cabbage will automatically create your work and progress report Now that you have seen for yourself how quick and easy your month and close can be let’s look at the work in progress report This is the work in progress report the cabbage generates Once you are satisfied with your changes to the contracts and progress view The work in progress report is divided into two major groupings The top group is a listing of contracts that are still in progress While the bottom group displays contracts that have been completed in the current fiscal year This is the same information as contained in the in process and completed tabs on the work in progress preview The work in progress report identifies the financial health of each contract at various stages of the project life The contract total section displays the anticipated profitability of the project to completion the contract the date section reflects the profitability from inception to the current period and identifies the value of overrun to Billings on a project the period ending section shows the profitability for just the current fiscal year and Finally the future workload section reflects the future work yet to be completed on the project This completes our online demonstration. We hope you found this to be a value for your organization, please Request a consultation using the form below and we will contact you as soon as possible

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