Difficulties Managing Chart of Accounts in Sage 300?

Become a Financial Visionary 

When Sage 300 was first release in the 90’s it was a great ERP solution. But as the demands of organizations progressed Sage 300 has failed to evolve to the next level. In fact Sage has said enhancements to future releases will be limited to minor feature improvements, bug fixes, compatibility with latest Microsoft desktop and SQL server software, and only include integrations with pre-determined Marketplace solutions. See FAQ for Sage 300 Clients Considering a Cloud Solution for more details.

Why Skydance Media Migrated from Sage 300 to Sage Intacct

When Anne Price first came to Skydance they were using Sage 300. “We were using an older Sage ERP product that we outgrew long ago.” Price, Senior Vice President and Controller, explained that in the entertainment industry, every movie, TV show, star, game or brand is tracked as an individual entity, with its own profit and loss. Then, they have to generate reports on each of those entities individually as well as combine them all into a single report to monitor the business as a whole.

As Skydance grew so did their entities that needed tracking. The Chart of Accounts (COA) in Sage 300 was limited, requiring them to start from scratch with every new entity they added. This was bogging down the finance team. They needed a solution that would allow them to duplicate the structure of an established COA.

Sage Intacct was architected for the cloud and offers significant flexibility and benefit for today’s organization. Consider:

Multi-entity management – automatically consolidated financial and operational reports, intercompany transactions, allocations, shared chart of accounts (COA), customers, and vendors

Dimensional accounting – rather than relying upon the chart of accounts and user-defined fields, Sage Intacct offers the ability to track and analyze an unlimited number of data dimensions.

Multi-book accounting – track and report on an unlimited number of books (e.g. accrual, cash, tax, GAAP, etc.)

Real-time report writing – up to the minute data on every entity, project, forecast, and more. Sage Intacct report writer reports are easy to format allowing users to create reports to match your different business units dimensions.

With better reporting visibility in Sage Intacct and little reliance on Excel, Skydance has been able to avoid 1-2 FTE new fires. With the finance team increasing productivity by 25%!