New Password Policy in Sage X3 V12

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Sage X3 ERP is one of the important for the organizations because it connects all the department and team of organization.

ERP without proper security level in place will be worst scenario as your whole organization will be at stake if all the sensitive information will get exposed or in case of worst scenario information will not able to recover.

In Most of the scenario most of the people keep their password very simple and this leaves them in trouble of their account hacked.

In Sage X3 V12 of latest version system has taken care of proper password policies which ensures security level of organization.

To Setup Password Policies

Administrator Setting Password Policies

  • We can create multiple number of password policies, then assign them to groups / users based on the nature of the requirement with X3 V12.
  • We can set complex having a minimum / max length for the passwords, add conditions such as having an upper case / lower case and even a numeric.
  • We can even maintain Black-Listed password in Sage X3 V12 so system will not let anyone use it.
  • We can set expiration period for the password as well as alert to the users where they can get alert before their password expiration.

At Sage Software Solutions (P) Ltd., we are home to world-class ERP software and CRM software that will solidify your business tech support fundamentals and enable you to build a customer-centric organization. To know more about it, SMS SAGE to 56767. You can also write to us at sales@sagesoftware.co.in

Managing Job Work Process for Manufacturing Industries in Sage X3

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In order to meet the several demands of the markets the manufacturing industry usually outsources part or whole of manufacturing process to another person namely job worker for the addition of the value of goods (such as designing, coating on circuits, testing of the product etc) and after the process is completed such goods would be returned back/sold directly to customers of principal. The process involved is termed as ‘job work process’ as per industry norms. Job work can be under taken by person for conversion of raw materials into finished goods, including re-work, testing and its report etc.

The importance of job work to principal is to reduce the capital cost/cost of the activity rather than doing by self which may increase the burden of maintenance, reduce the time frame gap between the productions and selling, it helps the principal to focus on the market rather than in the internal set-up of machinery process etc.

The blog focuses on the procedure to be followed in Sage X3 when principal sent their material to Job worker for treatment or processes such as cutting, assembly, packing, coating the goods etc. we will cover below transactions to fulfill the requirement of this process in Sage X3-

1. Sales order: Principle release the Purchase order for the job work and job worker books the order in their system called as Sales Order in which they mention the material/product which will be returned back to principle after job work process and a service item as job work service product (non-inventory) with the quantity and rate of service work.

2. Material Receipt: When principle send the material to job worker, job worker need to take their material in his inventory to maintain the principle stock until they reprocess or return back to principle with zero cost as it is not job worker’s inventory.

3. Delivery: When the job work is done with the service process then it should be returned back to principle. There is required a challan under GST norms. Job worker generates a document called as Material Transfer Challan to move the material from job worker’s location to Principle’s location. Below detail needs to be mentioned-

  • Document Number not exceeding 16 characters
  • Date and number of the DC;
  • Name, address, and GSTIN of the consigner, if registered;
  • Name, address, and GSTIN or UIN of the consignee, if registered;
  • HSN/SAC and description of goods;
  • Quantity (provisional, where the exact quantity being supplied is not known);
  • Taxable value;
  • Tax rate and tax amount –CGST, SGST/UTGST, IGST or Cess
  • Place of supply, in case of inter-State movement
  • Signature

4. Service tax invoice: When service work is done then Job worker raises the invoice to Principle for the service work in which Job work amount define with GST taxes.

So we have now understood how to handle Job Work process in Sage X3. We can also take a printout or report from system on respective screen for Challan or other documents. Hope this help you.

At Sage Software Solutions (P) Ltd., we are home to world-class ERP software and CRM software that will solidify your business tech support fundamentals and enable you to build a customer-centric organization. To know more about it, SMS SAGE to 56767. You can also write to us at sales@sagesoftware.co.in

Direct Sales Invoice Functionality in Sage X3

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Generally, In the Sales Process, to perform sales of goods, we always have to start with a Sales Order, then make a Sales Delivery, and finally a Sales Invoice. The Sales delivery represents the transfer of stock and the sales invoice represents the charges and prices. But there can be situations where it is necessary to make a sales invoice directly which will generate not only the accounting document, but create a stock entry of the goods sold in the system as well. 

Let’s take an example of a store that sells mobile phones and accessories. If a customer wishes to purchase a mobile phone, then the seller will immediately book a sales invoice instead of making a Sales Order/Delivery. The invoice made by the seller should automatically credit the stock from the inventory along with an accounting entry. 

The benefit of this process is that one document can generate both accounting impact as well as stock impact simultaneously in the system.

To create a direct sales invoice, first go to the normal Sales invoice screen and click on create.

Scroll down below in the Management tab.

In the menu field Stock Transaction, select Yes option and select the shipment site.

 

Fill any other additional details as required. Go to the Lines and fill the Product Details, Amounts and Taxes as required. 

Then create the Sales Invoice and post it. 

On posting the sales entry, run the accounting interface to generate the stock impact in the system.

Go to the Financials -> Journal Entry. There, you will find that the Sales invoice will have it’s own journal entry as well as an STK entry. You can cross check by looking the Source Document Number.

Journal Entry :-

Stock Entry :-

The impact for the stock entry is seen as follows :-

As you can see, creating a direct Sales Invoice helps us to impact stock without having to create a Sales Delivery first.

At Sage Software Solutions (P) Ltd., we are home to world-class ERP software and CRM software that will solidify your business tech support fundamentals and enable you to build a customer-centric organization. To know more about it, SMS SAGE to 56767. You can also write to us at sales@sagesoftware.co.in

Asset transfer from CWIP to Fixed Asset

Reading Time: 4 minutes

Asset management is important because it helps a company monitor and manage their assets using a structured approach. If managed effectively, the benefits include improvements to productivity and efficiency which places a business in a better position to increase their return on investment.

Capital work in progress, or CWIP, is an asset account on the balance sheet. It’s used to record current costs related to long-term projects, such as constructing a new building. Once the project is finished, the costs are moved to a property, plant and equipment asset account.

Process is as followed; first Purchase invoice is booked at that time WIP Ledger is impacted.

Proceeding further if you decide to put the asset in to use you need to transfer balances from WIP Ledger to asset account.

In Sage X3 this process is carried out as below.

1. Creating purchase invoice for expense creation

                                        Fig 1 – Purchase invoice screen

For your reference we have highlighted the account i.e. 2101010011 CWIP Account.

                          Fig 2 – Journal traceability (Purchase Invoice screen)

Refer the highlighted area where you can see we have posted the purchase invoice and system has generated an expense.

2. Capitalizing asset through asset capitalization screen by selecting expense entry created in purchase invoice

                             Fig 3 – Asset capitalization screen

Refer the above figure for Asset capitalization – Here we have selected the expense which is generated from purchase invoice.

3. Asset creation

Fig 4 – Asset creation screen

Please refer the above screen where we have created the Asset with Depreciation Method as SA.

Fig 5 – Asset screen before changing accounting code

For your reference we have created the asset with the accounting code as CWIP.

We have highlighted it in the above Fig 5

4. If you decide to put the asset in to use you need to transfer balances from WIP Ledger to asset account, this process is carried in Sage X3 as follows.

Changing accounting code to different account – by selecting Change the acct allocation in side bar of asset creation screen.

                        Fig – 6 Asset screen 

               Fig – 7 Asset screen – Change the acct allocation 

5. Now you can observe in the below screen Asset is transferred from CWIP to Boiler.

Fig 8 – Asset screen after changing accounting code

6. After all the above steps we have run the depreciation and still the amount which was debited to CWIP Account is still lying in the same account.

Our goal is to transfer the amount which is lying in CWIP to Asset account which was selected at the time of ACCOUNT ALLOCATION MODIFICATION.

7. Now we will go to Fixed assets Processes Generation of accounting entries and select year, company, site and accounting entry type as FASCHGIMP – to run the utility of account transfer to transfer amount which is lying in CWIP to asset account

Fig 9 – Generation of accounting entries screen

Note: – Perform step 8 in simulation first to check if impact you need is generated    correct or not.

8. System would generate final journals impact would be as follows.

 

Account Debit Credit Description
2101010011 10000 FA origin account
2101010004 10000 FA destination account

Fig 10 – Log reading of generation of accounting entries screen (Simulation)

After Performing step 8 in simulation impact would be as shown in the above figure.

                Fig 11 – Log reading of generation of accounting entries screen

After Performing step 8 unticking the simulation impact would be as shown in the above and below figure. 

       

              Fig 12 – Log reading of generation of accounting entries screen

In this blog we have learnt how to capitalize an asset from CWIP status.

At Sage Software Solutions (P) Ltd., we are home to world-class ERP software and CRM software that will solidify your business tech support fundamentals and enable you to build a customer-centric organization. To know more about it, SMS SAGE to 56767. You can also write to us at sales@sagesoftware.co.in

Asset Disposal Reversal in Sage X3

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Asset disposal is one of the important processes to perform an activity for Sale, stolen, and disposing of physical assets.

However, it happens that user has disposed an asset by mistake and now they want to reverse it again.

Following are the steps below to achieve the functionality of asset dispose reversal in Sage X3:

Navigate to Fixed Assets Financial Asset

  • Select Disposed asset.
  • Click on Issue Button.
  • Select the checkboxes as mentioned in below screen shot.
  • Click on ok and Save the changes.

Once changes will be saved, we can run the depreciation for disposed asset again.

  • Note: Once the depreciation period will be closed, the system will post the depreciation in the current open depreciation period.

At Sage Software Solutions (P) Ltd., we are home to world-class ERP software and CRM software that will solidify your business tech support fundamentals and enable you to build a customer-centric organization. To know more about it, SMS SAGE to 56767. You can also write to us at sales@sagesoftware.co.in

Adding multiple tax rates in Customer And Supplier BP Invoices in Sage X3

Reading Time: 3 minutes

While creating a Customer or Supplier BP invoice, it can be necessary to add multiple tax rates. In our standard functionality of Sage X3, the Customer/Supplier BP invoice screen shows a provision for only one tax rate. But with a workaround, we can add additional tax rates while creating the invoice. 

This is highly useful when we want to add SGST and CGST rates. 

To be able to select more than one tax rate, always check if the Control Account used in the entry is set to Tax Account under Tax Management. To check that, navigate to :- Common Data -> G/L Accounting Table -> Accounts -> Search for the Control Account.

Go to the Management tab and select the option under Tax Management, then set the default tax code to NOTAX.  

First, we take a look at the standard screen of Customer BP invoice :-

As we can see, there is only one field to add a tax rate. This is not an issue in IGST, since we only need to use one tax rate, but when making the invoice with SGST and CGST together,  we need to enter an additional tax rate (CGST) as well. Moreover, if we select the tax in the Tax field, it does not calculate the Tax amount. We have to always enter the tax by going in the Tax Entry.

Here’s how we can add more than one tax rate :- 

1. Click on the Actions button on the Tax field. Then click on Tax Entry.

2. The Tax entry screen opens. 

Enter the SGST tax in Tax column and the Additional Tax (CGST) in Tax 1 column. 

Click on Okay.

3. If you need to add an IGST tax rate, then simply add the tax rate in the Tax column.

4. The Tax is reflected in the Tax field and both the tax rates are calculated on the amount as shown  below:


As shown above, a 6% tax rate of SGST and CGST is calculated on a net amount of 1000 Rs, which brings the total to 1120 Rs. 

Similarly, for IGST, it will be calculated as follows :-

Click on Create. The Customer/Supplier BP invoice gets created with the appropriate tax rates.

At Sage Software Solutions (P) Ltd., we are home to world-class ERP software and CRM software that will solidify your business tech support fundamentals and enable you to build a customer-centric organization. To know more about it, SMS SAGE to 56767. You can also write to us at sales@sagesoftware.co.in

Enable CRM access to Sales Reps in Sage X3

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We all know how critical is to note the activities done by each and every sales person in their daily routine. The activities may include meeting appointments with prospects and customers, create new leads, recording meeting note and so on. To do this you need to enable the Sales Reps with an application which can help them to do all this activities very smoothly and efficiently.

Sage X3 provides you an inbuilt functionality so called CRM to track all such activities. However a Sales Reps would need to be created as user in Sage X3. In this blog we shall understand how to link an existing Sales Reps to an existing/new user in Sage X3.

A Sales Rep can be created in Sage X3 by using the Sales Rep screen on Common dataà BPà Sales Reps. To understand this in detail you can refer the Sage X3 help file on how to create Sales Reps.

Enable CRM access to Sales Reps in Sage X3

Now let’s understand how to link a Sales Rep to an existing Sage X3 User.

Step-1: Follow the path Setup -> Users -> User

Enable CRM access to Sales Reps in Sage X3

Step-2: Go to the parameters tab and find the line 16

Enable CRM access to Sales Reps in Sage X3

Step-3: Now click on action button of Line 16

Enable CRM access to Sales Reps in Sage X3

Step-4: Then click on detail option, a new popup screen will open and we can check sales rep in Line 6 and click on the finder button.

Enable CRM access to Sales Reps in Sage X3

Step-5: You will now see all the sales reps list as shown below

Enable CRM access to Sales Reps in Sage X3

Step-6: Now choose a relevant sales reps from the list, then click on “OK” button and system will take to back on Step -4 screen and then click on “OK” button then system will take on step-3 screen and then click on “Save” button. Now Sales Reps is linked with Sage X3 user successfully.

Enable CRM access to Sales Reps in Sage X3

So we have now learnt how to link an existing Sales Rep to Sage X3 user. The sales Reps now ready to login to sage X3 through various devices and punch-in their activities in Sage X3 CRM. Please note the user needs to have relevant access defined.

 

For more details on Sage X3 features and functionalities for business growth, visit our website or write to us at sales@sagesoftware.co.in. You can also check out industry-specific ERP and CRM solutions here.

How & When to Perform Asset Sale/ Disposal in Sage X3

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Asset Disposal in Sage X3

In this blog we will talk about retiring/ disposing of assets in any organization.

An asset is something which any individual, organization or country owns with expectation for future benefit. They are mapped on company’s balance sheet and created/ bought to increase firm’s value.  Once asset is purchased and started getting used, it starts depreciating on periodic/ monthly basis. In layman terms, we all use assets like properties, mutual funds, bonds, etc. until they reach a profitable value and then sell it off to secure our finances.

Many Sage X3 users ask for asset disposal from their company’s accounting when it is no longer in use or for sale purpose.  Every client has various reasons to dispose an asset to gain monetary value.

What is Asset Disposal & When to dispose an asset?

An asset disposal is removing an asset from company’s accounting when it is no longer in use and has long term life. An asset can be disposed because of below reasons-

  1. When it is fully depreciated
  2. When no longer in use, sold on profit/ loss
  • Due to theft

How to perform Asset disposal?

Sage X3 allows its users to perform disposal activity on their own with below shown simple steps.

1. For sale of Asset, Navigate to Fixed Asset Module -> Asset

2. Select asset which has to be sale or dispose and click on “issue” button as shown in below.

How & When to Perform Asset Sale/ Disposal?

 

3. Post Asset Disposal, mention the reason behind selling an asset and sales invoice information like date of disposal, disposal reason etc. Now here in below screen select all the information

  • Asset sale or disposal Date
  • Disposal reason
  • Issue rule
  • Sales amount type
  • Customer

 

How & When to Perform Asset Sale/ Disposal?

4. Click on OK, then the system will generate one AR invoice against customer only if it is sale of asset and financial impact generated for the particular asset against loss or gain.

Note: If you are depreciating any asset, select Issue rule only, no need for sales information.

Hence, it is important for any company, country or individual managing fixed asset to maintain purchasing date for an asset.

Sage X3 gives you preview by running plan simulation the monthly and yearly charge of the asset.

 

For more details on Sage X3 features and functionalities for business growth, visit our website or write to us at sales@sagesoftware.co.in. You can also check out industry-specific ERP and CRM solutions here.

Financial Data Extraction Using Reporting Codes

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What is the importance of FDE Tool?

  • Every organization has their own format of MIS reports, so it gets difficult to cop up with each company’s expectation and requirement. In Sage X3 we have different tools one of it is FDE tool where user can create his own desired MIS report.
  • Financial Statements such as the Balance sheets, Income statement, Budgetary report, Gross profit reports and financial reports with analytical dimension/pyramids and report codes can be constructed within the FDE.

 Financial Data Extraction (FDE) in Sage X3 works in 4 stages:

  1. FDE Setup Creation
  2. Map the report codes
  3. Calculation
  4. Inquiry

First step is to create the FDE setup:

For Eg: 1. Balance Sheet

  1. Profit and Loss Statement

Second step is you can Map the reporting codes in each account by giving an Acronym after group or Subgroup.

Financial Data Extraction Using Reporting Codes

For Example: Equity is a group for Founder’s/Promoter’s Capital (FCE) and Investor’s Capital (ICE)are the subgroups.

As you can see in both the Subgroups we have given reporting codes which are already mapped in respective accounts.

To create report follow this path: – All -> Setup -> Financial -> FDE

Now in Lines you have to title the group and specify the respective subgroups under it.

FDE Tool

This will link all the accounts which come under the Subgroups and goes in one group. As you see in the above screenshot you can use the same formula.

Eg: Equity Balance = Founder’s/Promoter’s Capital (FCE) + Investor’s Capital (ICE)

How we can derive the formula?

  • As you can see in the below screenshot you need to add the reporting codes in the No./code reporting field and click on OK.

Financial Extraction

Product Expiration Management in Sage X3

Reading Time: 2 minutes

Many organizations deal with sensitive product lines; that can turn hazardous when consumed by humans. Few examples of such products are packed food and pharma products.

You may have seen an expiry date, and the manufacturing date is always mentioned in such products to keep the end customer well informed before buying it or consuming it.

Once these products are in markets and expired before it is sold to customers, they are returned to the retailer or distributor by the retailer, which leads to additional expense for such products’ return process.

If any end customer misses checking expiry details and buys such a product, it will pose a significant threat to his life and law enforcement will come into the picture.

Hence, it becomes necessary for organizations that manufacture such products to have a control system that possesses expiry date management in such a way that system will restrict the user on the 1st place itself while making an outward entry of such products. 

Expiry date management is a salient feature of Sage X3. It allows you to manage your inventory as per LOT/Serial expiry wise.

Refer to the below screenshot of the Sage X3 product master screen expiration control section flag.

When the expiration flag is switched on for a particular product, then whenever there is an inward entry of the product’s LOT, be it at the time of production or purchase receipt system, it will ask the user to update the expiry date against the incoming LOT/ Serial no.

Few days down the line, if the product lying in the inventory gets expired, the system identifies it. It automatically changes its status to ‘A’ or ‘R’ or ‘Q’ depending on the system configurations where A denotes acceptable, R denotes Rejected, and Q represents ‘Quarantine’. Ideally, it should be either ‘R’ or ‘Q.’

Once the status is changed to ‘R’ or ‘Q’, the system will allow the user to use, issue, or sell this particular expired product.

Setting up Near to Expiry days

Sage X3 also allows you to setup use by date, which means before how many calendar days the system should start restricting users to use, issue or sale near to expiry products using the UBD coefficient.

Destruction of Expiry Product

Users can pull out the Stock Status report. They can identify the ‘R’ stock and then decide to destroy such a product by using Misc issue entry to issue the material for physical destruction.

So, we have seen how Sage X3 can benefit an organization, which has inventory expiration management as a core requirement.

At Sage Software Solutions (P) Ltd., we are home to world-class ERP software and CRM software that will solidify your business tech support fundamentals and enable you to build a customer-centric organization. To know more about it, SMS SAGE to 56767. You can also write to us at sales@sagesoftware.co.in