Sage 100cloud (formerly Sage 100 and MAS 90/200) is an Enterprise Resource Planning (ERP) solution that is primarily designed for use by businesses with product-driven models. This software features data capture functionality that can be applied towards tasks in discrete manufacturing, distribution and retail, such as inventory tracking and material requirements planning. However, Sage 100cloud also comes with other features that can be leveraged towards project, financial, human capital and customer relationship management, as well other features that support professional services businesses.
Sage 100cloud’s core accounting and reporting functionality can be augmented for service-centric businesses with add-on programs such as SWK’s Time & Billing Solutions. The Time & Billing Solutions suite features time tracking, client invoicing and payroll tools that can deliver value to professional service firms operating a Sage 100cloud ERP system. Time & Billing Solutions are also the only time and billing software designed to be fully and seamlessly integrated with Sage 100cloud.
Here are the solutions included in the Time & Billing suite and how they deliver value to your professional services business:
Time & Billing Professional (T2)
Time & Billing Professional is an enhanced version of Time & Billing native that hosts expanded data recording and management features, in addition to other upgrades. Unlike the original module, Time & Billing Professional was made for seamless integration with the Accounts Receivable module in Sage 100cloud and requires it for installation. Once connected to the AR and other financial modules, Time & Billing Professional will compile the payment data from each for easy review by users.
Timekeeper is a flexible time tracking tool available in the Time & Billing Solutions suite that can be accessed from almost anywhere. As a web-based application, Timekeeper can be accessed from any Internet browser with Timekeeper Web, as well as from any machine not connected to your Sage 100cloud system with Timekeeper Entry. Timekeeper is also compatible with iOS and can be operated from any Apple tablet computer or mobile device.
Time & Billing Intelligence (TBi)
Time & Billing Intelligence is an addition to the Time & Billing Solutions suite that adds business intelligence capabilities to the portfolio. It allows users to conduct a better analysis of their time management both internally and externally, as well as provide them with a more real-time overview of their ongoing projects. Time and Billing Intelligence represents the newest solution in the suite and provides the tools needed to do deep analysis into the clients, engagements, and employees billed through Time and Billing Professional and Time and Billing Standard.
Time & Billing solutions contribute to maintaining your ongoing projects with their time and bill tracking capabilities, as well as their extensive data fields. Manual entry for time and billing information through paper timesheets and invoices can create serious operational time lags, as can data that is separated by siloes. Unsupported third-party software that is implemented with your Sage 100cloud without any customization by a Sage Master Developer (such as SWK) runs the risk of creating unnecessary and disruptive informational redundancies. The data stored in these modules will have to be manually transferred between databases to provide any organizational oversight over project activities.
The seamless integration of Time & Billing solutions with Sage 100cloud allows these applications to extract and compile the data from relevant projects into a centralized database. This prevents time and billing information from being regulated to disconnected siloes that mitigate the workflow value of this data. It also enables your Sage100 cloud system to deliver accurate reporting on your projects that will avert costly mistakes from incorrect timesheet and invoice data. Any errors that get through can be easily identified before they become a bigger issue.
Sage 100cloud’s core accounting software features combined with Time & Billing solutions create a more streamlined financials management system for professional services firms. Leveraging the joined modules allows you to transition away from relying on manual bookkeeping processes and spreadsheets to maintain billing and payroll data. T2 and TK help you store, process and manage all client and employee budget information within a single digital system, as well as sales tax data.
Project billing data is separated within Time & Billing solutions by employee, client, and all relevant subsets to ensure precise reporting for each account. Data fields are customizable, and expenses can be segmented as needed to allow for all financials to be recorded precisely from project start to finish. The information in these fields can be compared to time tracking entries to identify and reconcile any inconsistencies in the system and enable you to deliver the correct invoices to clients.
The Time & Billing Solutions suite offers extensive payroll management and processing tools to accurately track employee timesheet data. Applications such as the TK modules also grant increased flexibility for employees working from remote offices or while traveling outside of their workspaces. Even if working with an offline version of Sage 100cloud, users can still maintain access with the Time & Billing suite to enter time and billing data for upload into the system at a later date.
All employee time and billing data is sent to designated managers for approval to prevent any accidental or redundant uploads. Manager accounts can also approve commissions for salespeople and determine the amount awarded for successful sales. Time & Billing solutions allows you to accurately track and measure employee financial data with automated payroll applications.
Customer Relationship Management
With the Time & Billing suite integrated into Sage 100cloud, your professional services firm will be able to maintain more precise records for client information. Customer data is compiled and maintained within the Time & Billing solutions’ databases for easy access and accuracy. Billing addresses, bank accounts, and other client data are organized into lists according to each project and the specific billing rules for each client account. This enables you to leverage Time & Billing modules to deliver detailed invoices for services rendered to clients and demonstrate comprehensive justification for payment statements.
Sage100cloud is Perfect for Growing Professional Services Firms
Integrating Time & Billing with Sage 100cloud allows you to leverage a modern ERP for your expanding accounting needs. Smaller-scale professional services operations may be able to make due with less robust accounting software initially, but growing businesses require more comprehensive solutions than simpler offers such as QuickBooks from Intuit. Time & Billing’s accurate reporting combined with Sage 100cloud’s inherent scalability allows professional services firms to grow without losing functionality from their software solution.
Check out these five differences between Sage 100cloud and QuickBooks to learn more about what Sage 100cloud can offer over basic accounting software.
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