Learn what the pros and cons of Sage 300 are and why you should or shouldn't use it this year.
Sage 300 has long been a market leader as one of the best business accounting solutions. Although this software is an established and excellent business management tool, we need to assess it more thoroughly to determine whether it will be a good option for your company.
This article examines the modules and key features of Sage 300, its benefits and drawbacks, and who should and shouldn't choose it.
What is Sage 300?
Sage 300 — also called Sage 300 ERP — is an all-in-one business management software designed for small and medium-sized businesses. This solution from Sage is used by over 6,600 companies, most of which are located in the US. The majority of businesses that use it have between 50 and 200 employees and annual revenues of $1 million to $10 million.
Sage 300 offers several functionalities, including accounting, sales, service, purchasing, and inventory management. Sage 300's integrated management platform aids businesses in enhancing internal communication and maintaining a live picture of financial indicators. Additionally, it helps to minimise transactional inefficiencies and improves productivity. Sage 300 also gives decision-makers access to management information and functionality anywhere, at any time.
Sage 300 versions
The legacy Sage 300 product and Sage 300c are the two product variations of Sage 300. Users can access essential product functionality through a web browser. Sage 300c is a subscription-based version of the programme. A worldwide network of Sage authorised partners sells Sage 300, an established business management programme.
Sage 300’s key features
Sage 300 is a modular software built for scale and can grow with your company. Here we take a close look at what features it provides to help you assess whether it is the best solution for your business.
Sage 300 comprises four main modules — finance tools, project and vendor management, inventory, and sales processes — and includes several features.
Finance tools
Sage 300 provides the best-in-class, cloud-enabled financial solutions for businesses with various entities and locations. It has a multilingual, multi-currency interface.
• AP Withholding & Reverse Charges (for Tax Calculations)
Easily manage taxes in your invoices. Reverse Charges allow you to determine the amount of taxes owed on an invoice without taxes separated. In contrast, AP Withholding enables you to pass payable taxes to your tax authority.
• General ledger
Create and maintain the accounts for your general ledger. Add or move transactions from different sources. Users can print important accounting reports, including general ledger reports that include a chart of accounts, trial balance, posting diary, and transaction listing.
• General ledger consolidation
The Sage 300 General Ledger Consolidation module provides the reporting required to provide important financial reports for corporate entities for businesses with several entities.
• Accounts receivable
Recognise your anticipated financial flow so you can make plans. Send bills, keep tabs on customer accounts, and promptly give transaction information with Sage 300.
• Accounts payable
Create and maintain the accounts for your vendors, enter or import transactions from different sources, and print checks. To prevent late payment fees, obtain vendor discounts, and align cash requirements with cash resources, Accounts Payable generates the reports you need.
• Instant bank reconciliation
The monthly reconciliation process is automated and made more straightforward by bank reconciliation. Rectify discrepancies between your books and your bank account and find unrecorded transactions.
• Intercompany transactions
You can set up many businesses, close your books, and report your earnings by business. You can also automate processes that touch multiple entities. For instance, you can create an account receivable entry for one company and instantly create it in the other connected company.
Project and vendor management
In Sage 300, you can directly automate your purchase order processes and manage transactions throughout the sales cycle. Manage the time and expenses of contractors and subcontractors, and include stakeholders when creating an account or project. You can integrate Outlook with Sage 300 to make it simple to access and manage contacts from anywhere in the software.
• Project and job costing
With Sage 300, you have excellent project cost control. You can track every project's expenses and income in minute detail.
Sage 300 allows you to control time management and associated costs of contractors and subcontractors. You can follow and keep track of the initial project schedule and progress. Each project area can roll up all expenditures, payables, and receivables. Finally, overhead, tools, and supplies are assigned to keep the project on schedule and within the allotted budget.
• Purchase order
With the purchase order module, you can create purchase orders, receipts, vendor invoices, returns, credit notes, and debit notes can all be entered and processed. This module also allows you to print the appropriate forms for your requests.
By automating these administrative tasks, you will save time and increase productivity. Purchase transactions automatically issue credit and debit notes in the Accounts Payable module that fully integrates with the Inventory Control module.
• Multiple contacts
Easily manage your accounts and correspondence. You can assign numerous stakeholders to an account or project using this module. Additionally, it interacts with Microsoft Outlook so that all the information you require to respond to a customer is available on your Outlook screen.
• Order entry
This module allows you to control transactions throughout the sales cycle as it is fully connected with Accounts Receivable and Inventory Control. You can enter orders and sales returns, create and print shipping labels, invoices, order confirmations, and much more.
Inventory tools
This module ensures complete visibility and stock control, maintains detailed inventory records and automatically generates serial and lot numbers for all products.
• Inventory control
Inventory control keeps thorough inventory records and generates reports to assist you in efficiently managing your supplies.
You may modify Inventory Control to suit your needs, no matter how big or complicated your organisation is. Inventory Control includes several configurable features that you may utilise to successfully manage your inventory while also handling the requirements of your current inventory system.
• Serialised inventory and lot tracking
This feature allows you to automatically create serial and lot numbers on things to help you better manage your supply.
Integrated sales processes
Use Sage 300 to directly process credit and debit transactions. Sage 300 customers enjoy a smooth checkout process thanks to PayPal, Stripe, and Paya.
• Order entry
This feature allows you to control each transaction throughout the sales cycle. It will enable you to create and print shipping labels, invoices, estimates, order confirmations, picking slips, credit and debit notes, and more.
You can also keep track of your inventory levels and the status of your client accounts thanks to Order Entry's complete integration with Inventory Control and Accounts Receivable. Additionally, it fully interacts with project and job costing, allowing you to sell goods that have components like labour, service, or contact expenses.
• Send e-invoices
Sage has teamed up with Stripe and PayPal, allowing you to create a Pay Now button for every invoice in Sage 300. Moreover, payments, taxes and processing fees are automatically put into Sage 300 for you, saving your team a lot of time.
• Purchase order
Automate your purchase order processes to make placing an order more effortless than ever. You can enter and process purchase orders, receipts, vendor invoices, returns, credit notes, and debit notes. This feature allows you to print forms for requisitions, purchase orders, receipts, returns, and mail labels.
Exchanges involving purchase orders Update the costs and quantities of the items in Inventory Control, then in Accounts Payable, make batches of invoices, credit notes, and debit notes.
• Payment processing
Use Sage 300 to process credit and debit card transactions. To give clients a flawless checkout experience, Sage has teamed up with PayPal, Stripe, FortisPay, and Paya.
• Withhold taxes
In your AP or AR transactions, Sage 300 enables you to withhold taxes in flat rates or percentages. This feature lets you keep track of all withholdings, thus simplifying your taxes.
The pros and cons of Sage 300
Sage 300 is a top-notch accounting and business management tool with many advantages for your company. Next, we provide a list of Sage 300's benefits and drawbacks based on information from seasoned users of the package.
Pros of Sage 300
Sage 300 is outstanding in the following areas:
- Transparent subscription platform
- Integrates with other Sage products such as CRM, HRMS, time tracking, advanced business intelligence and payment processing
- Comprehensive functionalities for financial management, supply chain management and operations
- Excellent, easily customisable dashboard and navigation menus
- Practical and adaptable, giving you complete control over your business operations
- Outstanding customer support in deploying and maintaining the software
- Designed for scale and business growth with customisable modules
- Cloud deployment & mobile accessibility
Cons of Sage 300
Sage 300 has room for improvement in the following areas:
- New users need extensive training when onboarding as it can be a steep learning curve
- Reports can be slow to generate in some instances
- The price can come to a hefty amount, but Sage offers discounts for long-term projects
- There is currently no free trial available
Who is Sage 300 for?
Sage 300 provides a wide range of features and functionalities that meet the needs of medium-sized enterprises in several industries. It is primarily used in distribution, professional services, and manufacturing businesses but is also frequently used in the construction, retail, finance, insurance, commercial and service industries.
Sage 300 is well-suited for businesses that need solid capabilities for operations, supply chain management, robust financial management and those with a high degree of customisation needs. It is also a smart option for companies looking for a more comprehensive solution with better security and integration abilities because they have outgrown basic accounting software.
Key Takeaways
Sage 300 is an excellent business management software that offers a wide range of features. It can help businesses maximise their operational efficiency and provide business insights allowing them to respond to the dynamic changes in and around your business.
Sage 300 can also provide better insights for informed decision-making, increase efficiency, enhance collaboration, and offer secure and scalable software solutions. And just like most Sage products, Sage 300 can grow with your business by adding new modules as needed.