The Oakley ERP Blog

Benefiting from a 10 Segment General Ledger in Sage 300 ERP
Tuesday July 22, 2014

Sage 300 ERP is an International ERP solution sold in approximately 150 countries around the world, designed specifically for businesses from £1 million turnover plus. Sage 300 provides a whole host of functionality in the system ranging from multi-currency reporting and consolidations through to the powerful 10 segment, 45 character General Ledger.

 

Watch our 10 Segment GL in Sage 300 ERP Video

 

In this article we are going to take a closer look at the 10 segment General Ledger on offer with Sage 300 ERP.

So how can a 10 Segment General Ledger help your business?

Well a good starting point may be to ask yourself what do you need to know?

When it comes to financial reporting segmentation is a great way to split your accounts into a number of different information silos. This supports fast retrieval of key information and enables rapid intelligence for comparative analysis. The main reason for undertaking such a procedure is to produce your business specific reports which will then enable you to analyse which areas are performing better than others and also how your business is performing overall.

Examples of types of uses of segmentation in your accounts include Cost Centre, Department, Group of Business, Sales Region and even Sales Individuals.

Cost Centre

Cost Centres can be set up to analyse how each area of your business is performing and which cost centres may require more focus for improvement and or/expansion.

Department

Separating out your Chart of Accounts and using a segment by Department can be a useful method for viewing how departments are performing individually and in comparison to each other. For instance you might want to see a profit and loss breakdown by department, giving you the information you need to make strategic decisions based on accurate data.

Group of Business

Using Line of Business as a segment in your Chart of Accounts is a great way of separating out each product line you offer and identifying which areas of your business are performing best and worth further investment.

Sales Region

Using a segment for sales regions can be particularly useful if you have a number of offices/retail outlets in different parts of the UK, or perhaps internationally. You can set up a segment with each different business location and compare how the regions are performing.

Sales Individuals

A sales individual’s performance can be tracked using a separate segment for each sales person to quickly identify how each employee is performing and work out vital information such as sales commissions.

With the power of a 10 segment General Ledger your business can take advantage of setting up an accounting system to benefit your bespoke business needs both now and in the future. If you would like to discuss Sage 300 ERP get in contact with us by calling for Ashley Miller on 01268 724005 or email ashley.miller@o-net.co.uk

 

Written by David Weaver at 00:00

0 Comments :

Comment