Reversing a journal entry is a fundamental accounting process involving the undoing of a previously recorded transaction. It is commonly used to correct errors, adjust entries, or ensure accurate financial representation in an organization’s records. Reversals, often applied to entries from the previous accounting period, streamline processes, simplify reconciliation, and maintain precise financial reporting. This… Read More »
In Sage X3, (formerly known as Sage Enterprise Management or Sage ERP X3), ERP system refers to a method of transaction processing where your system collects data over a small period of time before processing and posting entries to your general ledger. Instead of processing each journal entry as it comes into your system, entries are… Read More »
A budget is an estimation of revenue and expenses over a specified future period of time. Budgeting is an important aspect to any company, no matter how big or small, in order to see where the company has been and to plan accordingly for the future Analytical budgets provide the basis for managing and controlling a group… Read More »
In our last blog pertaining to Sage ERP X3 Reports – India Specific Reports, we explored the following four reports: Purchase Order report. Goods Receipt Note. PR & PO report. Receipt Register report. In this edition, we are going to see more reports created/modified as per the Indian business standards. Below are the X3 Reports… Read More »