Managing a Project in Sage - dummies

By Jane E. Kelly

Sage 50 can help with your project needs. For instance, have you ever had a project that you’ve done, where you wished that you’d been able to monitor costs and run reports that showed you the cost breakdown of projects? Well, you can do exactly this with the Projects module in Sage 50. You can create a new project and enter details such as a start date, finish date and budgeted costs for the project.

If a revenue is associated with the project, you can enter this as well. When you’ve set up a project record, you can then allocate purchase invoices directly to the project by using the drop-down project field when posting your batch of purchase invoices. If you are raising a service invoice, you can choose to allocate that invoice against a project by clicking the F3 edit key and using the drop-down arrow to select the appropriate project.

At any point in time, you can review the project record to see what costs have been committed (allocated) to the project, or you can see the actual costs that have been posted to the project. The actual costs will include stock that has been allocated and then subsequently issued to a project. You are also able to allocate charges to a project for items such as labour costs and, you can view them by clicking the Activity tab within the project record.

The activity screen will also show stock that has been issued to the project and will show as either an adjustment in or out of the project record. It will also include any bank payments or receipts that have been allocated to a project, as well as sales and purchase invoices or, indeed, credit notes coded to a project.

On an ongoing basis, Sage offers a series of reports that you can print out which will help you keep track of costs that have been allocated to a project. These are often very useful for management when trying to manage larger projects and to ensure that they stay on track and within budget.