Getting the most out of the Auto-Close of Encumbrances
The signature feature of Sage 100 Fund Accounting 11.3 is the new Auto-Close of Encumbrances. This one feature saves so much data entry time, temp agencies are probably going to register a drop in earnings after it ships. What could be that awesome? Let me explain.
Normally encumbrances are entered and liquidated as the year progresses. At the end of the year, there are often a number of outstanding encumbrances that will never be used. Since the year is over the normal course of action is to get rid of ALL the outstanding encumbrances. Then on the first of the new year re-enter all the encumbrances that are still open. That can mean a lot of keystrokes.
With Auto-Close Encumbrances you can wave your magic software wand, and get a list of outstanding encumbrances and choose the ones to close. You can even select which ones you want to magically reappear in the new year using the somewhat confusingly named “reverse” checkbox. A few mouse clicks and a whole lot of CPU cycles later and you are done!
But, before you click yourself into reporting purgatory, there are a few things to consider. Since this is a new feature, and encumbrances (use to) require a LOT of work, many organizations have adapted their entry and reporting styles to cope with multiple open years. In fact you may have entities that you have to leave open for extended periods of time.
If you fall into this category and run out and auto close everything in sight you’ll quickly find yourself in a scene out a bad sci-fi remake where the scientist screams “My god what have I done” just before he is consumed by his creation. Look carefully at the way you record and report on encumbrances before using Auto-Close of Encumbrances. You may even be able to adjust your procedures now that the feature is available.
So, now that you are in the know, get 11.3 installed and go hang out in Auto-Close Paradise. And if you don’t see this little gem on your menu – have your admin give you rights.
Thomas Tweedel
Sr. Customer Support Analyst
Sage Nonprofit
[...] can save you time called “Auto-Close of Encumbrances”. Tom Tweedle blogged about in April here. With Auto-Close Encumbrances, you can see a list of outstanding encumbrances and choose which [...]