Today we are delighted to offer Sage 100cloud customers two new features designed to significantly increase their efficiency, accuracy, and compliance. As cloud-connected services, Automated Bank Feed Reconciliation and Certified Payroll Reporting are just the most recent examples of the kind of value that Sage is able to bring its customers as a result a hybrid approach to Sage 100 product development.
Reconciling bank statements against a business’s records is vital to ensuring the correctness of information in both systems. The process is traditionally very manual, which takes time, but it also means that it is subject to error. Every time a human touches data is a chance for a mistake to be made.
With Sage 100 2018.5, we are simplifying the reconciliation process by allowing users to connect directly to their bank feeds and automate transaction matching so that disparities are identified and flagged as they happen. What this means for a business is greater efficiency, decreased risk, and an increased ability to respond to accounting discrepancies as they arise.
This new feature is included standard for all Sage 100cloud customers, who will receive the new functionality automatically with their latest product update.
Certified payroll reports are mandatory for all government-funded projects. These two-page reports must be prepared and delivered for state and federal governments on a weekly basis to ensure compliance with set wage requirements. Preparing these reports can be time-consuming and error prone at the best of times, let alone when a single contractor has multiple projects that cut across state lines.
An update to the Job Cost module in the November 2018 release (2018.5) of Sage 100cloud makes it easy to flag information for inclusion as part of Certified Payroll Reports. If you also license the Sage 100cloud Payroll module, what this means is that you will now be able to automatically generate Certified Payroll Reports, which can further be e-filed directly from within Sage 100cloud thanks to our integration with Aatrix (Aatrix filing fees apply).
By adopting a cloud-connected approach to product development for Sage 100cloud, we are delighted to rapidly bring our subscription customers innovative solutions to common problems. To learn more about how the 2018.5 release of Sage 100cloud can improve your business processes and support your success, check out the following resources: