Account Pyramids in Sage X3
Account pyramids are the manner in which accounts are associated with one another in account groups as user-defined. The account pyramids could also be known as account rollups in the way that account groups ‘roll up’ to greater account categorizations in summary form for reporting purposes. In Sage X3, Account pyramids can be created using […]
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Analytical Budget Set Up in Sage X3
Analytical budgets provide the basis for managing and controlling a group of transactions for a specific chart of accounts and dimension types within the parameters of defined controls. In Sage X3, the budget set up provides this basis of managing and controlling a group of transactions based on the criteria of the managers of the […]
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Analytical Budget Structure in Sage X3
In Sage X3 the budget may be set up with the configuration desired in unlimited scenarios based on a specific company or financial site. Each analytical budget must be associated with a chart of accounts with dimensions and the account core model must have an analytical ledger reference. Budget controls have relevance on the completion […]
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Unbalanced Journal Legal Error in Sage X3 V12
When we run the WIP posting, sometimes we come across the error “Unbalanced journal legal”. WIP is the automatic journal code for production process.
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Cannabis Duty and Information Return
Licenced cultivators, producers and packagers of cannabis products have to complete the B300 form for each calendar month reporting period and send the completed form to the Canada Revenue Agency no later than the last day of the month that follows the reporting period. The report contains details such as unpackaged inventory, packaged inventory, excise […]
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Calculation of Cannabis Excise Duties in SAGE X3
Excise duty needs to be paid by cannabis distributors who supply packaged cannabis products to their customers. The excise duty is calculated based on the sales price of product that is charged to customer. Panni has built functionality in SAGE X3 to calculate the excise taxes/duties payable and this document would explain how the excise […]
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Inventory Management: What is ABC analysis and When do you need it?
The ABC analysis is a ranked categorization technique based on the Pareto Principle (a business metric that proposes that 20% of the inputs determine 80% of the outcomes). It is intended to concentrate efforts and resources to the company’s priority items and minimize the number of operational tasks and overhead costs associated with inventory management.
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Cannabis Excise Duty Framework
Cultivators, producers, and packagers of cannabis products are required to obtain a cannabis licence from the CRA before production. Once licensed, they are required to calculate the excise duty on their sales and report it to CRA.
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