Sage 50 Accounts User Manual

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Getting Started with

Sage 50 Accounts

Making the most of your software

Thank you for purchasing Sage 50 Accounts 2014. This guide will help you to get started and make the most of your software.

We’ve included all of the information you need about how to install the software for the first time, and how to set up your company details.

If you’ve upgraded from an older version of Sage 50 Accounts, we also cover how you prepare to upgrade your current version and then install your new version of the software.

We’ll also tell you about all the new features, and how they’ll benefit your business.

There’s also a section with a number of time saving hints and tips to help you make the most of Sage 50 Accounts, whether you’re new to Sage or have been with us for a long time.

We hope that you’ll find this guide useful and enjoy using Sage 50 Accounts 2014 to help you run your business.

Kind regards

Jim McGlen

Head of Customer Services Experience

Sage (UK) Ltd

North Park

Newcastle upon Tyne

NE13 9AA

Maurice Whelan

Head of Customer Experience

Sage Ireland

Citywest Business Park

3096 Lake Drive

Dublin 24

Quick install guide

New features in Sage 50 Accounts 2014

PART 1 – PREPARING TO USE SAGE 50 ACCOUNTS

Chapter 1: Preparation

1.1 Create a My Sage login

1.2 Check your system requirements

1.3 Log on as an administrator

1.4 Check your regional options

PART 2 – INSTALLING SAGE 50 ACCOUNTS

Chapter 2: New to Sage 50 Accounts

2.1 Installing Sage 50 Accounts 2014 on a stand-alone PC

2.2 Registration

2.3 Installing Sage 50 Accounts 2014 on a network

2.3.1 What’s the difference between a server and a client PC?

2.3.2 Installing Sage 50 Accounts 2014 on a server PC

2.3.3 Sharing a folder on your server PC

2.3.4 Identify the server name

2.3.5 Installing Sage 50 Accounts 2014 on a client PC

Installing Sage 50 Accounts on a network - check list

Chapter 3: Already using Sage 50 Accounts

3.1 Prepare your old version to be upgraded

3.2 Installing your Sage 50 Accounts upgrade on a stand-alone PC

3.3 Installing your Sage 50 Accounts upgrade on a network

3.4 Converting your data

PART 3 – USING SAGE 50 ACCOUNTS

Chapter 4: Creating your company and getting started

4.1 Enter your company details

4.2 Finding your way around the software modules, menus and toolbars

4.3 Setting the processing date

4.4 Basic principles of double-entry and entering batch transactions

4.5 Software configuration, settings and defaults

4.6 Creating a Manager password and individual user accounts

4.7 Creating customer records

4.8 Creating supplier records

4.9 What is a Chart of Accounts?

4.10 Creating nominal and bank records

4.11 Entering opening balances

4.12 Creating product records

4.13 Creating an invoice to send to a customer

4.14 Customising an invoice layout

4.15 Making and receiving payments

4.16 Processing refunds

4.17 Bank reconciliation

4.18 Calculating, reconciling and submitting your VAT Return

4.19 Correcting mistakes

4.20 Management reporting and period end

4.21 Data strategy

Chapter 5: Hints and tips to make the most of your software

5.1 Microsoft Excel, Word and Outlook integration

5.2 Using the Search facility

5.3 Customisation and configurable columns

5.4 Turning an invoice into a credit

5.5 Duplicating and amending batches of records

5.6 Reversing journals

5.7 Hotkeys and software shortcuts

5.8 Electronic banking

5.9 Recurring bank entries

5.10 When to use the M, S1, S2 and S3 product codes

5.11 Batch reporting

5.12 Global data changes

5.13 Using smart links

5.14 Importing data

5.15 Where you can get additional help?

Chapter 6: Sage 50 Accounts – Advanced features

6.1 Processing in foreign currencies

6.2. Order processing – Sage 50 Accounts Professional and Client Manager

6.3 Price lists – Sage 50 Accounts Plus, Professional and Client Manager

6.4 Projects – Sage 50 Accounts Plus, Professional and Client Manager

6.5 Fixed assets – Sage 50 Accounts Plus, Professional and Client Manager

Quick install guide

If you want to install this software immediately and start exploring, please follow these quick start steps. Alternatively, for a step by step guide, please refer to

Part 1 Chapter 1

Preparation.

If you are based in the Republic of Ireland you must check that your PC’s Regional

Options are set to English (Ireland).

1. Insert your Sage 50 Accounts 2014 DVD in to the DVD drive of your PC.

2. From the Welcome window, click Install.

3. To accept the terms and conditions, click Yes.

4. To ensure you install in the default folder, click Standard Install.

If required, you can install into a folder that is not the default, for example, if you are upgrading a previously customised version. To do this, click Custom Install and follow the on-screen instructions.

5. To begin copying files to your PC, click Next.

6. To complete the installation, click Finish.

You are now ready to open the software and enter your details or upgrade existing data from an earlier version.

New features in Sage 50 Accounts 2014

Sage 50 Accounts 2014 includes some great new features, many of which were taken directly from customer feedback and requests.

• VAT Improvements

We’ve made some big changes to the VAT Return to help you improve the accuracy of your figures and to make it easier to identify mistakes. The new look to the VAT Return gives you a much smoother process to work through with all of the required steps in one easy to follow wizard.

You can now run additional checks to identify possible mistakes in your vatable transactions.

To help reconcile the values on the Vat Return you can run all of the reports you need from the VAT Return window.

If you enter any late transactions, you can now see a list of these transactions to help you decide if they need to be included in your VAT Return.

There’s a lot to take in when it comes to VAT, which is why we’ve created a new Show me how option to help you understand and process all aspects of your VAT Return.

• Live Link

Live Link is a great new way to keep up to date with the latest information about your software and support. The link will be updated with any issues that affect you, how to perform procedures at the relevant times of the year and any offers that may be of interest to you.

• Foreign Trader

Previously available as standard in Sage 50 Accounts Professional, Foreign Trader is now available in all variants of Sage 50 Accounts as an additional module for purchase. Foreign

Trader can be used to work with multiple currencies and exchange rates in your accounts software.

Foreign Trader is now also available if you use the VAT Cash Accounting scheme, this hasn’t previously been possible and opens up the feature to all customers regardless of their VAT situation.

• Stock Improvements

To save you valuable time and ensure your stock levels are accurate, you can now import a stock take from an Excel spread sheet or csv file.

We’ve added a tool for removing stock transactions and stock records, and you can now clear stock on individual records too. It’s never been easier to remove old stock records.

To make it even easier to record your stock values when running a period end, there’s a new opening and closing stock wizard. This helps to keep your profit and loss and balance sheet reports accurate.

The free stock quantity is now visible against individual products in drop-down lists, this ensures that you can see the available stock as you generate your invoices and orders.

• Financial Year change

You can now change your financial year in all variants of the software even after you’ve started to enter transactions. So if you start processing in the wrong year, or your accountant advises you to change your financial year start date, you can quickly make this change.

• Archive

Data can now be archived at any time, not just when you run the Year End routine. You can use this feature to maintain a full read only backup of your data from a specific date that can be referred to at any time without compromising your live accounts.

• Check Data

We’ve improved the Check Data routine. More information is now given about the nature of any problems found and a history of data checks is recorded. You can access the tools to fix your data without first having to run the check, saving you more time.

• Charities – UK Only

In April 2013 HM Revenue and Customs (HMRC) introduced new legislation for Charities and Community Amateur Sports Clubs (CASCs). This is called the Gift Aid Small Donations

Scheme (GASDS). Eligible charities are able to claim a top-up payment equivalent to

Gift Aid on up to £5,000 of small cash donations collected in the UK each year, without needing to obtain a Gift Aid declaration from the donor. You can use the new features in

Sage 50 Accounts to identify these donations and report on the information easily in a format recognised by HMRC.

• Company list

We’ve refreshed the company list to show more information, including the financial year for your company, the company VAT number and the software version number. You can now access the data folder direct from the company list. Demodata and Practice data are now listed along with your live companies. If you run multiple companies, this extra information helps you to identify each company without having to open it to check.

Getting Started with Sage 50 Accounts

PART 1 – PREPARING TO USE SAGE 50 ACCOUNTS

Chapter 1: Preparation

1.1 Create a My Sage login

To make the most of the resources available to you online, you first need to create a

My Sage Login.

To create your online account go to my.sage.co.uk then click Create a Sage login and follow the on-screen prompts.

When you’ve successfully created your My Sage account you can access a wealth of online resources and manage your Sage account and preferences.

1.2 Check your system requirements

Before you install Sage 50 Accounts it’s essential that you check your PC meets the following requirements:

Supported Operating systems

• All 32 or 64-bit variants of Microsoft® Windows® 8, 7, Vista, XP, Server 2012,

Server 2008 R2, Server 2008 or Server 2003

Please ensure all the latest Microsoft Updates are installed.

Hardware

Recommended hardware

Processor speed

RAM (Memory)

Free disk space

Network speed

Disk Drive

2GHz processor

2GB RAM

2GB of free space with additional for data files

1Gbps (100Mbps minimum)

DVD drive

Other requirements

• Integrates with Microsoft Office® 2013 and 2010 (32-bit editions) or 2007 and 2003

• Internet Explorer v7 or higher

• An Internet connection

• Screen Resolution of 1024x768

• Antivirus software should be configured to exclude Sage files from its scanning routines

• You can find a list of handsets compatible with Sage 50 Accounts Mobile:

UK –

www.sage.co.uk/sage50mobile

Ireland –

www.sage.ie/sage50mobile

1.3 Log on as an administrator

When you install Sage 50 Accounts you must log on to your PC as an administrator.

This is only necessary for the installation of the software; when using

Sage 50 Accounts, administrator permissions are not required.

To check that you’re logged on as an administrator:

Windows 8

Windows Key > type cmd > press Enter

Windows Vista / 7 / Server 2008

Click Start > in the Start Search box, type cmd > press Enter

Windows XP / Server 2003

Click Start > Run > type cmd > press Enter

At the MS-DOS prompt type net localgroup administrators, and press Enter.

Under the Members heading, if you see your Windows login listed, you’re an administrator; if your login is not listed you must log off Windows then log back on as an administrator before you install the software.

1.4 Check your regional options

Sage 50 Accounts is designed to be used within the United Kingdom or the Republic of

Ireland and your PC’s region must be set to the correct location for the software to use the appropriate currency, date format and VAT rates.

To check your regional options:

Windows 8

Windows key > type intl.cpl > press Enter

Windows Vista / 7 / Server 2008

Click Start > in the Start Search box, type intl.cpl > press Enter

Windows XP / Server 2003

Click Start > Run > type intl.cpl > press Enter

In the Region and Language window the format should be either English (United

Kingdom) or English (Ireland), if an alternative language or country is found you must change this before you install.

After changing your region, to apply the new settings, you should restart your PC.

“Preparation” – Check list

Step:

I’ve created a My Sage login.

My PC’s operating system is supported and meets the required specification.

I am logged on as an administrator.

My region is set to English (United Kingdom) or English

(Ireland).

Completed? Yes / No

PART 2 – INSTALLING SAGE 50 ACCOUNTS

Chapter 2: New to Sage 50 Accounts

2.1 Installing Sage 50 Accounts 2014 on a stand-alone PC

Before you start your installation please ensure you close all software.

1. Insert your Sage 50 Accounts DVD into the DVD drive of your PC.

2. From the Welcome window, click Install.

The Software Licence Agreement window appears.

Your use of the software is subject to the software licence agreement.

3. To accept the terms and conditions, click Yes.

Before you can continue, you must accept the licence agreement.

The Select Installation Type window appears.

4. To ensure that you install all of the required files, click Standard Install.

If you are an advanced user and you want to install to a different folder, please refer to section

3.2 Installing your Sage 50 Accounts upgrade on a

stand-alone PC.

The Start Copying Files window appears, and the software installs in the default folder, shown under Destination Folder.

If you are using a 64-bit operating system, the default path is

C:\Program files (x86)\Sage\Accounts

5. To begin copying the Sage 50 Accounts files to your PC, click Next. This starts the transfer of files to your PC which usually takes a few minutes to complete.

The Installation Complete window appears.

6. To complete the installation of Sage 50 Accounts 2014, click Finish.

Congratulations, the installation is complete and you’re now ready to set up your new Sage software.

2.2 Registration

When you open Sage 50 Accounts for the first time, the Sage 50 Accounts – Software

Registration window appears.

Customers in the Republic of Ireland can call 1890 88 20 60 for further assistance.

1. Enter the serial number and activation key provided with your software.

If you’re unsure of your details, to check them online, click MySage.

2. If you have entered a full activation key, a Registration Successful Message appears.

If you have entered a trial key, when prompted to register the software, click Yes, complete the requested registration information, then click Register Now.

3. Once the software has registered, a Registration Successful message appears. To continue, click OK.

If you need to update a serial number or activation key on any of your PCs, open

Tools > Activation > Upgrade Program.

Congratulations, you’ve now successfully registered your software. If you need to set up a new company, please refer to Chapter 4.

2.3 Installing Sage 50 Accounts 2014 on a network

2.3.1 What’s the difference between a server and a client PC?

If you install Sage 50 Accounts on two or more PCs you need to decide which one is going to be the server, and which will be the client(s). The server PC has the software installed on it and also stores the data files, the client PCs have the software installed, but look to the server for the data.

As a general rule you should choose the PC that you will use most often to act as the server because this PC must be switched on before the client PC can connect to it and see the data files. Alternatively, you may have a PC in the office which is already used specifically as a server by other software.

2.3.2 Installing Sage 50 Accounts 2014 on a server PC

The steps to install the software on your server PC are exactly the same as installing on a stand-alone PC; therefore simply follow the steps in section

2.1 Installing Sage 50

Accounts 2014 on a stand-alone PC.

2.3.3 Sharing a folder on your server PC

To link your client PC to the data on your server PC you must first share a folder on the server, making it visible to the rest of the network.

The folder that needs to be shared is located as follows:

Windows 8 / 7 / Vista / Server 2008

C:\ProgramData\Sage\Accounts\2014\Company.000

Windows XP / Server 2003

C:\Documents and Settings\All Users\Application Data\Sage\Accounts\2014\

Company.000

If you only have one company the folder to share is Company.000, if you use more than one company, share the 2014 folder.

The steps to share a folder on the server PC differ depending on the operating system, but in all cases the folder needs to have full control of the Share, and

Modify permissions on the folder contents. If you are unsure how to do this, consult your IT administrator, the Windows help system, or call Sage Technical Support on 0845 11 55 55. If you are in the Republic of Ireland, call 1890 88 20 60

2.3.4 Identify the server name

On the server PC, to identify the name of the server PC:

Windows 8

Press the Windows key > type cmd > press enter.

Windows Vista / 7 / Server 2008

Click Start > in the Start Search box, type cmd > press Enter

Windows XP / Server 2003

Click Start > Run > type cmd > press Enter.

At the MS-DOS prompt, type hostname and press Enter. Make a note of the name of the server PC as you’ll need this later.

Congratulations, you have now successfully shared the data on your server PC.

2.3.5 Installing Sage 50 Accounts 2014 on a client PC

The steps to install the software on your client PC are exactly the same as installing on a stand-alone PC. Please follow the steps in section

2.1 Installing Sage 50 Accounts 2014

on a stand-alone PC.

2.3.6 Connecting to data on the server PC from your client PC

Having installed the software on your client PC, you need to connect to the data on the server.

1. Double-click the Sage 50 Accounts 2014 shortcut on the client PC desktop.

2. From the select the type of data you want to use window, click OK.

3. From the Welcome to Sage 50 Accounts window, select Use a company already setup in another installation and click Next.

4. From the Select Installation window, enter \\servername\shared folder name for example - \\server1\2014 and click Next then follow the remaining steps as prompted.

You’ve now installed the software and connected it to the server. You can use the

Sage 50 Accounts shortcut on the desktop to open the software.

Installing Sage 50 Accounts on a network - check list

Step:

I’ve identified my existing server PC or decided which PC will be my server, and which will be my client.

I’ve installed the software on my server PC

I’ve shared the data folder on my server PC

I’ve installed the software on my client PC

I’ve connected my client PC to the Sage data on my server PC

Completed? Yes / No

Chapter 3: Already using Sage 50 Accounts

3.1 Prepare your old version to be upgraded

You can convert data from Sage Accounts 2009 and later for use in Sage 50

Accounts 2014. To find your version number, open the Help menu and choose

About. If your version number is lower than 15 contact Sage Technical Support:

• UK - 0845 111 5555.

• Republic of Ireland – 1890 88 20 60

If you use Sage 50 Accounts 2012 or above, the version number is shown on the Support

Home Page. To open the page - Help > About and the version number appears in Program

Details.

Run the Check Data routine

Before you upgrade your old version of Sage 50 Accounts you must check that your data files are free from corruption. To do this, open File > Maintenance > Check Data. Any errors reported here indicate a problem which must be fixed before you can upgrade.

If errors are reported, for further advice you can use the My Data site at:

www.sage.co.uk/mydata

If you are in the Republic of Ireland call 1890 88 20 60

If warnings and comments appear, they don’t require action at this time.

Back up your data

Once you’ve confirmed that your data is free from errors, you must then take two All Files data backups. If there’s a problem with the conversion you may need to restore one of these backups and try the conversion again. By backing up all of your data files you ensure that your data and any customised reports or layouts are safely stored. To back up all files, open

File > Backup > Advanced Options tab > Select all file types to include in backup > Backup

Company tab > choose an appropriate filename and location > OK.

If you have more than one company you’ll need to back up each one individually, ensuring the files are stored in a secure location.

Check your installation path

Before you upgrade, to guarantee that your upgrade installs to the correct location, you must know where your software is currently located. In Sage 50 Accounts 2012 and above, this information is available in Help > About > Program Details.

Sage 50 Accounts 2011 and below: Help > About > System Information > Directories >

Program Directory.

Prepare your old version - check list

Step:

I’ve run Check Data and my data is free from errors.

I’ve taken two All files backups of my data, and stored them in a secure location.

I’ve taken a note of my current installation path.

Completed? Yes / No

3.2 Installing your Sage 50 Accounts upgrade on a stand-alone PC

Before you start your installation please close all software.

If your software is installed to the default path, C:\Program Files\Sage\Accounts, you can simply follow the installation instructions in section

2.1 Installing Sage 50 Accounts 2014

on a stand-alone PC.

If you’re using a 64-bit operating system, the default path is

C:\Program Files (x86)\Sage\Accounts

If your installation path differs from this you must perform a custom installation to do this:

1. Insert your Sage 50 Accounts DVD in to the DVD drive on your PC.

2. From the Welcome window click Install.

3. From the Software Licence Agreement window, to accept the terms and conditions, click Yes.

Before you can continue, you must accept the terms and conditions.

4. From the Select Installation Type window, to change your default folder click Custom

Install.

5. To choose a different folder, click Browse, select the folder you want to install to then click OK.

6. Now choose the Program Folder for your Sage software. This is the area in your

Windows Start menu where Sage 50 Accounts will appear. To confirm your selection, click Next.

The Start Copying Files window appears.

7. On the Start Copying Files window you can review your settings; if you need to change anything, click Back.

If you are happy with your settings, to begin copying the Sage 50 Accounts files to your PC, click Next. This starts the transfer of files to your PC which usually takes a few minutes to complete.

The Installation Complete window appears.

8. To complete the installation of Sage 50 Accounts 2014, click Finish.

Congratulations, you’ve now installed Sage 50 Accounts upgrade and you’re ready to set up or continue to use your new Sage software.

3.3 Installing your Sage 50 Accounts upgrade on a network

To check which PC is the server and which is the client

The server PC has both the software and the data located on the local hard drive, generally the C drive. The client PC has the software located on its local hard drive, and the data located on a network drive. Information about the program and data directories is available within Help > About > Program Details.

Sage 50 Accounts 2011 and below: Help > About > System Information > Directories.

Installing your Sage 50 Accounts upgrade on a server PC

If the software is installed to the default path of C:\Program Files\Sage\Accounts you can follow the same process as detailed in section

2.1 Installing Sage 50 Accounts 2014 on

a stand-alone PC.

If the software is not installed to the default path of C:\Program Files\Sage\Accounts you can follow the same process as detailed in section

3.2 Installing your Sage 50 Accounts upgrade on a stand-alone PC

Installing your Sage 50 Accounts upgrade on a client PC

You must complete the upgrade procedure on all of the PCs that have

Sage 50 Accounts installed.

If the software is installed to the default path of C:\Program Files\Sage\Accounts you can follow the same process as detailed in section

2.1 Installing Sage 50 Accounts 2014 on

a stand-alone PC.

If the software isn’t installed to the default path of C:\Program Files\Sage\Accounts you can follow the same process as detailed in section

3.2 Installing your Sage 50 Accounts

upgrade on a stand-alone PC.

If you’re using a 64-bit operating system the default path is

C:\Program Files (x86)\Sage\Accounts

3.4 Converting your data

After you install your upgrade for Sage 50 Accounts, when you open the software for the first time, your data automatically goes through a conversion process. This changes the data files from their old format to one compatible with your new version. The length of time needed for this process varies depending upon the size of your data files, and runs most efficiently on the server PC in a multi-user environment.

Do not interrupt or crash out of this process as it will damage your data files.

Once the conversion is complete the conversion log appears, and we recommend that you print this.

• If you use a multi-company version of the software or have company archives, each time you open a company or archive for the first time, the same data conversion takes place.

• If you have a number of archives to convert, to convert them all at once open File >

Open > Company Archive > click Convert All.

Congratulations, you’re now ready to start using your new upgrade.

PART 3 – USING SAGE 50 ACCOUNTS

Chapter 4: Creating your company and getting started

4.1 Enter your company details

When you create your company for the first time there are a number of details that you need to enter in the ActiveSetup Wizard.

From the Select the data you want to use window, choose Open your company’s data and click OK.

You can see your progress through the steps on the left-hand side of the wizard.

Welcome – In the first window, select whether you want to:

• Set-up a new company

• Use an existing company stored on your network

• Restore data from a backup file

If you have a backup of existing data choose the third option, otherwise with the default option of Set-up a new company selected, click Next.

Network Sharing – If you use a multi-user version of the software we recommend that you share your data across the network. This step prompts you to approve the network share. If you have a single user version of the software this step doesn’t appear.

This step only applies when you create a new company on the server PC.

Company Details – Enter your company name and address in this window.

If you need to, you can change this later.

Business Type – Select the type of business that most closely matches your own, and therefore which nominal structure you want to create. For an explanation of what a chart of accounts is, please refer to section

4.9 What is a Chart of Accounts?

You can’t change this later so it’s important that you choose the right option.

If you are unsure which to choose, for further advice, please consult your accountant.

Financial Year – Enter the start date for your current financial year. To help you to confirm your selection, the financial year start and end dates both appear.

Sage 50 Accounts only allows for a 12 month financial year. If your first financial year is longer than 12 months, choose the starting month which allows for the correct finishing point.

For example, if you have a 15 month financial year from 1 January 2013 until 31

March 2014 you should choose the start date of April 2013 so that the correct finish date of 31 March 2014 is applied.

VAT – Enter the VAT details for your company.

If your company isn’t VAT registered, select No, enter the current standard VAT rate and click Next.

If your company is VAT registered, select Yes, enter your VAT registration number, your VAT scheme, the current standard VAT rate and click Next.

It’s important that you choose the correct VAT scheme at this point as it’s difficult to change this later. If you’re unsure which VAT scheme your company uses, consult your accountant, HMRC or Revenue in the Republic of Ireland.

Currency – Choose the base currency in which your company trades.

You can’t change this at a later date, so it’s vital that you choose the correct currency.

Manager Password – The default login for Sage 50 Accounts is Manager, this gives you access to all of the software features. You can use this window to set up a password for the

Manager logon.

Confirm Details – You can review the choices you have made and ensure they’re correct.

If you want to change any of your choices, click Back. If you’re happy with your choices, to create your new company data files, click Create.

If you have a multi-user version of the software you’re prompted to log on. The default logon is Manager with no password. If you’re using a single user version, the software opens.

Customise your company – On opening a company for the first time the Customise your company window appears. This wizard is designed for new users and those less familiar with the software. It guides you through the basic setup of the software. If you don’t have time to follow it now, you can open it at any time from the Help menu.

4.2 Finding your way around the software modules, menus and toolbars

This section explains the navigation options available in the software.

Navigation bar

The most important area for navigation purposes is the navigation bar, which appears on the left-hand side of the desktop.

The navigation bar is divided into two main areas:

Tasks and Links: The options in the Tasks and Links panes differ depending on the module you open. In this example the Customers module is open, so the tasks and links are relevant to this area of the software.

The tasks and links provide access to a number of different functions and features. To open the required option, you simply click it.

If you can’t find a particular option it’s likely to be accessible from within the Links pane. Some good examples of this are the links to Nominal and Financials from within the Company links, and the Invoice List found in the Customer links.

Modules: The modules, located below the task and links, provide access to the high level areas of the software. After selecting these you’ll see the tasks and links specific to these areas.

These modules control the following:

Module

Customers

Suppliers

Company

Bank

Products

Projects

Diary

Sage Services

Function

Recording sales invoices and receipts

Recording purchase invoices and payments

Nominal, Financial and VAT ledgers

Banking and reconciliation

Recording stock

Keep track of your ongoing projects - Sage 50 Accounts Plus,

Professional and Client Manager only.

Recording tasks and events

Access to online resources

Menu bar

Located at the top of the desktop, the menu bar contains various options that control a number of software functions

Some examples of key business processes which you can access via the menu bar are:

Where to find it

File > Backup

File > Restore

File > Maintenance >

Check Data

File > Microsoft Integration

Settings > Company

Preferences

What it does

Makes a secure copy of your data files. We recommend that you run this every time you use the software.

Used to restore the secure copy of your data files, returning the data to the point when you took the backup.

Checks your data for corruption. We recommend that you run this every time you use the software.

Links Sage 50 Accounts to the Microsoft Office suite.

Contains all of your company details, for example the address and VAT registration number.

Settings > Change

Program Date

Tools > Options > View

Sets the default date used by all transactions and invoices created in Sage 50 Accounts.

Customises the way the software is configured in terms of ledger view, list or process map, and opening desktop.

The automatic updates and Sage online account settings.

Tools > Internet Options

Tools > Period End > Year

End

The year end close down which you must run at the end of each financial year.

Help > F1 – In product help The software help files, which can also be launched using

F1.

Help > Shortcut Keys Details of how to navigate quickly and efficiently using the keyboard.

Help > Ask Sage

Messages

Access our online library of help and support articles direct from your software.

The new Live Link provides you with messages about your software, including updates and offers that may be of interest to you.

Ledger views

You can view a number of the ledgers in different ways, which gives you alternative views of your Sage 50 Accounts data. The following views are available:

View

Process Map

Dashboard

List

Purpose

Explains the logical processing steps within the ledger, especially useful when you’re learning the software.

A high level overview of key business information and metrics.

A list of records, accounts and transactions within the ledger.

This view is used most commonly in day-to-day processing when you’re familiar with the software.

To change the view, click Change View in the top right-hand corner. You can set the ledger to a particular default view in Tools > Options > View.

List view toolbar

If you use the list view, you’ll also see a further row of options within a toolbar. These give you an alternative way of accessing the information held within the Tasks and Links panes.

Tabs

If you have more than one ledger open, to switch between them click the tabs which appear at the bottom of the window.

The ledger which is currently in use is selected.

4.3 Setting the processing date

When you’re processing in Sage 50 Accounts the date that’s used on every transaction is of critical importance to the accuracy of your data. By default, Sage 50 Accounts uses the date from Windows.

If you want to change the default processing date, you can do this in Settings > Change

Program Date.

4.4 Basic principles of double-entry and entering batch transactions

Sage 50 Accounts uses the double-entry bookkeeping system to control all of the postings made to the ledgers. The basic principle of double-entry bookkeeping states that when recording financial information at least two different accounts are affected, with equal values of debits and credits posted. This sounds complicated, but Sage 50 Accounts does all of the hard work for you, making sure that your trial balance is always balanced and that you can’t make any accounting mistakes.

To do this the software posts all the necessary values, based on a pre-defined set of business rules. For example, when you enter a purchase invoice for £100 plus VAT, the following figures are automatically posts to the nominal ledger:

Purchase nominal code

VAT Control Account

Creditors Control Account

Total:

Debit

100.00

20.00

120.00

Credit

120.00

4.5 Software configuration, settings and defaults

There are a number of default settings used by Sage 50 Accounts when you create records and entering transactions. If you make sure these are all been set up to suit your business requirements it will save you time when using the software.

You can access these defaults through the Settings menu and they control the following software areas:

Option:

Settings > Configuration

Settings > Company

Preferences

Settings > Customer Defaults

Settings > Supplier Defaults

Settings > Bank Defaults

What this controls

• The default trading terms and custom fields for customers and suppliers.

• Finance rates.

• Tax code settings.

• Product category settings.

• Your company address and VAT settings.

• Your accountant’s address and contact details.

• Your reporting options.

• Your Sage Pay settings if you use this software feature.

• The tax code, nominal code, country and terms agreed settings used when you create a new customer.

• The text that appears on a customer statement.

• The type of ageing used.

• The tax code, nominal code, country and terms agreed settings used when you create a new supplier.

• The type of ageing used.

• Cash register settings.

• Settings for to e-banking and bank reconciliation.

Settings > Product Defaults

Settings > Invoice & Order

Defaults*

• The default values used when you create a new product record. For example, the nominal code, tax code, unit of sale, category and EC VAT description.

• The decimal precision used for product quantity and unit price.

• The box where the cursor appears by default in an invoice and an item line.

• EC VAT description, update ledger and discount settings.

*Orders apply to Sage 50 Accounts Professional and Client Manager only.

Common questions about settings and defaults

Q - How can I select the Terms Agreed check box by default when I create a new customer record?

A - Open Settings > Customer Defaults > select Terms Agreed > OK.

Q - How can I change my supplier ageing periods from 30, 60, 90 and 120 days to calendar monthly?

A - Open Settings > Supplier Defaults > Ageing > select Calendar Monthly Ageing > OK.

Q - When I pay a supplier invoice, how can I see each individual invoice item line, rather than just the grand total?

A - Open Settings > Bank Defaults > select the List Invoice/Credit by item line check box >

OK.

This check box also appears in the Supplier Payment and Customer Receipt windows.

Q - How can I see the discount amount on the main invoice window, without having to open the individual item line?

A - Open Settings > Invoice & Order Defaults > Discounts > select the Show Discount on

Main Invoice/Order Screen check box> OK.

Q - When I’m viewing a customer’s activity how can I hide all the deleted transactions?

A - Open Settings > Company Preferences > Parameters > select the Exclude deleted transactions check box > OK.

4.6 Creating a Manager password and individual user accounts

It’s important that you make your Sage data files as secure as possible. By default the software opens with no password required, but we recommend that you create a password to protect your data.

To create a password, open Settings > Change Password > enter the required password into the New Password and Confirm New Password boxes > OK.

It’s important that you don’t forget this password as you can’t access the software without it.

If you want to create a login for individual users you must enable this feature. To do this, open Settings > Company Preferences > Parameters > select the Access Rights check box > OK. You can then create the users in Settings > Access Rights, where you can also limit access to certain areas of the software. You may, for example, want to hide the bank balances from some employees.

If you turn on access rights you need to enter the username of Manager for the default user and the password created in the earlier step. Only the person logged on as Manager can create new users and modify the areas of the software they can access.

4.7 Creating customer records

These instructions assume the Customer List view is in use. If you are using the

Process Map as your view, this can be changed using Change View > Customers from the top right-hand corner of the Customers window.

If you trade with the same company or individual on a regular basis we recommend that you create a customer record within Sage 50 Accounts. This record holds all of their contact details and a full history of all of your dealings with them. Creating a record saves you time when generating invoices, and gives you detailed credit control information if you ever need to chase them for payment.

To create a customer record, click Customers > New Customer > enter all the required information regarding the customer before saving. The information entered is divided as follows:

Tab

Details

Defaults

Credit Control

Sales

Orders**

Projects***

Graphs

Activity

What this contains

• The Account Ref *, Name, Address and Contact details.

• The nominal code and tax code used by default when you enter transactions.

• Three analysis fields which you can use to divide up your customers.

• Your agreed trading terms with the individual customers.

• A monthly total for invoices, credits, receipts and payments as well as year to date figures.

• A summary of the orders raised for this customer.

• A list of the projects involving this customer.

• A graphical representation of invoices, credits and balances.

• A history of the transactions recorded for the customer.

Bank • Your customer’s bank details.

Communications • A record of your communications with this customer, a useful tool for credit control.

Memo • A free text area where you can enter any details, for example, a record of telephone conversations. You can also use this area to add attachments such as Word or Excel documents.

* The Account Reference (A/C) is an eight character reference used when entering all transactions relating to the customer. There are no definitive rules concerning how this is formatted but as a general rule we would recommend a mixture of letters and numbers.

So for example Smith Holdings Ltd could be SMITH001, whilst Smith International PLC is

SMITH002. This can’t be changed at a later date so please ensure that your reference is correct before you save the record.

**Sage 50 Accounts Professional / Client Manager only

***Sage 50 Accounts Plus / Professional / Client Manager only

If you don’t anticipate trading regularly with a particular customer we recommend that you create a generic customer account, for example called MISC001 –

Miscellaneous Sales, for all of these one-off sales.

4.8 Creating supplier records

When you create a supplier record the principle is exactly the same as a customer record but relating to purchases made by your company rather than sales. To create a new supplier record, click Suppliers > New Supplier > enter the required information.

4.9 What is a Chart of Accounts?

Sage 50 Accounts uses the Chart of Accounts (COA) to group together similar nominal codes into categories. It’s also used to determine whether a code appears on the Profit and

Loss or Balance Sheet report, and governs the order and structure of these reports.

Found in Company > Nominal Ledger > Chart of Accounts, by default the chart is structured as follows:

Balance Sheet

Fixed Assets [0001 – 0999]

Current Assets [1000 – 1999]

Current Liabilities [2000 – 2299]

Long Term Liabilities [2300 – 2999]

Capital & Reserves [3000 – 3999]

Profit and Loss

Sales [4000 – 4999]

Purchases [5000 – 5999]

Direct Expenses [6000 – 6999]

Overheads [7000 – 8999] [9998-9999]

Taxation [9001-9001]

Each category is then divided further into a series of nominal groups. For example, Sales is divided as follows:

Sales [4000 – 4999]

Product Sales [4000 – 4099]

Export Sales [4100 – 4199]

Sales of Assets [4200 – 4299]

Credit Charges (Late Payments) [4400 – 4499]

Other Sales [4900 – 4999]

The specific nominal codes then appear within each of these groups. For example, Product

Sales contains the following nominal codes:

Product Sales [4000 – 4099]

4000 – Sales Type A

4001 – Sales Type B

4002 – Sales Type C

4009 – Discounts Allowed

4010 - Management Charges Receivable

4099 – Flat Rate – Benefit/Cost

These examples are taken from the default COA of Sole Trader.

Before you create a nominal code specific to your business you must first consider the following:

• Whether it should appear on the Profit and Loss or the Balance Sheet report.

• What category it falls into, for example Sales or Purchases.

• Can an existing code be used, with its name changed?

• Whether you need a new nominal group.

If you are not sure about the answers to any of these questions, consult your accountant.

If a new nominal group is required you can add this into the chart which has 80 spaces available. If you want to insert a new group into a specific location, use the F7 key to insert a blank line prior to entering the new data.

Certain Balance Sheet nominal codes can either be an asset or a liability depending upon whether their balance is a debit or a credit. A good example is a bank account which may have a positive balance or be overdrawn. Nominal codes like this are referred to as “floating” nominal accounts, and they appear in a special section of the Current Assets and Current

Liabilities categories.

To save you time, the software automatically creates the same range in both of these categories at the point that you enter it.

4.10 Creating nominal and bank records

If you’ve determined that you need a new nominal code, and either made sure there is room within an existing nominal range or created a new one, all that’s left is to create the code.

To do this, within the Nominal or Bank ledger, click New Record, fill in the required number and name and click Save.

Extra information held in bank records

If the nominal code is a bank account you also need to decide what type of account it is from the following three options:

A/C Type

Cheque Account

Cash Account

Credit Card Account

When to use

For any business current account.

For any petty cash account.

For any business credit cards.

For a bank account you can also enter a minimum limit, and if the balance falls below this threshold it appears in red in the list to highlight the problem to you. This is useful, for example, if you need to maintain a specific minimum float amount in your petty cash.

You can also enter all of the details about the bank account number and sort code, and whether you intend to perform a bank reconciliation. For more information about bank reconciliation, please refer to section 4.17 Bank reconciliation.

4.11 Entering opening balances

When you transfer over to Sage 50 Accounts, if your company has already been trading you’re likely to have opening balance transactions that need to be entered to represent your financial position.

An Opening Balances Wizard guides you through the process. To open the wizard, go to

Tools > Opening Balances.

To enter your company’s opening balances, follow the steps in this wizard.

4.12 Creating product records

If you sell products to your customers, you should create individual records for all of these items. This saves you time when you create invoices to send to your customers.

You can create the product record in Products > New Product, with each record having a unique product code *, along with its cost and sales price, the tax code** that applies to it and a number of other details.

* The product code is a 30 character reference used when you create invoices for to the particular product. There are no definitive rules concerning how to format this so you could use a short version of the product’s description, or an internal part number as the product Code.

** It’s important that you choose the correct tax code for the product. For example, if you sell a zero-rated item like children’s clothes, you should choose T0. If you’re unsure which

VAT rate applies to the products you sell, for further advice please consult your accountant,

HMRC or the Revenue in the Republic of Ireland for further advice.

Recording stock quantities

In Sage 50 Accounts you can record the quantity of any product you currently have in stock which then decreases as you invoice your customers. To enter quantities into stock with the applicable cost price, click Products > Adjustment In.

If you don’t want to monitor stock levels, from the Item Type drop-down list, choose Non-Stock.

4.13 Creating an invoice to send to a customer

Once you’ve created your customer and stock records, generating an invoice to send to your customer is a quick and straightforward process. To create your first invoice, open

Customers > from the Links pane, click Invoice List > New/Edit Invoice.

Selling products

If you sell products to your customers, you should set the format to Product. You then add the customer’s account reference, the tax point date and the products that you’ve sold.

When you’ve entered all the details, click Save.

Providing a service

If you provide a service the process is very similar, but you must set the format to Service rather than Product. You then add the customer’s account reference, the tax point date and enter the details of the service you’ve provided. When you’ve entered all the details of the service, and you’re happy it is correct click Save.

You can define the default format used in Settings > Invoice & Order Defaults >

General.

Updating invoices

After creating the invoice it doesn’t appear on the customer’s account or affect any of your nominal balances until you update it. To update the invoice and create the financial transaction, select the invoice from the list and click Update. You can choose whether you want to update each invoice individually as you create them, or as part of a batch on a daily or weekly basis.

4.14 Customising an invoice layout

Whether you send a printed invoice to your customers, or email it as a PDF attachment, you can customise the document to make it specific to your business. You can choose exactly what information appears on the invoice, and you can also add graphics like a company logo, or lines, boxes and generic text.

The Report Designer software which is included with your copy of Sage 50 Accounts gives you the ability to change your invoice layout, and any other report, to your exact specifications. To open Report Designer, select an invoice from the list, click Print, from the left-hand pane click Layouts, select the layout you want to modify then click Edit.

Choose the layout which is currently closest to how you’d like your layout to look.

If you’re unsure which one to choose, preview each one in turn to determine which is closest, and then edit that one. To see a quick preview, hover your mouse pointer over the layout, then hover it over the preview option:

Adding a company logo

In Report Designer, you’ll see a skeleton template which governs the way the invoice looks when it’s printed. The template is divided into horizontal areas called sections, and within these sections you’ll find information entered in the invoice (Variables), calculations

(Expressions) and words (text boxes).

To add a company logo, open the Dynamic Help pane, then select Add an image or logo.

Click Browse, then browse to the required image file and double-click it. In the Dynamic

Help pane, choose the section you want to add the image to and choose the required alignment options, then click Add to report.

If you can’t see the Dynamic Help pane, open the View menu and choose

Dynamic Help.

Adding lines, boxes and text

Very similar to adding a company logo, you can customise the layout even further by adding lines, boxes and text that you want to print on every invoice. These functions are all available in the Dynamic Help pane.

After you’ve made the required changes, open the Report menu, choose Report Properties then enter a new name and description for your layout so that you’ll know which one to run.

Click OK, then open the File menu, choose Save As, enter a new file name then click Save.

To close Report Designer, open the File menu and click Exit.

4.15 Making and receiving payments

After creating invoices the next step is to process the money you receive from customers, and the money you are paying to suppliers.

Customer receipts

To process the receipt of money from a customer, open Bank > select the bank into which the money was received > click Customer Receipt. After you add the customer’s account reference you’ll see a list of all the outstanding transactions on their account. Enter the date, click in the Receipt column for the appropriate transactions and enter the value they have paid. If they have paid the full amount click Pay in Full. If they’ve sent a part payment, you must type in the amount. After entering all the necessary details, click Save. The money is then received into the bank, and the invoice marked as paid.

If you enter a value higher than the invoice, the extra amount posts as a payment on account, which you can use as payment against future invoices.

Supplier payments

To process the payment of money to a supplier, you use the same principle as a customer receipt, but you access the option through Bank > select the bank from which the money was paid > Supplier Payment.

When you pay a supplier you can also generate a remittance advice to send with the payment so the supplier knows exactly which invoice the payment relates to. If you want to print a remittance, after saving the payment details, click Remittance, select the appropriate record, and click Print.

4.16 Processing refunds

On occasions you’ll need to refund money to your customers, for example, if they’ve overpaid you and are asking for their money back. To process a refund, open Customers

> from the Tasks pane, click Customer Refund. After you enter the customer’s account reference you’ll see all overpayments and credit notes currently outstanding. To refund the customer, locate the correct transaction, select the Refund box then if the full value is being refunded click Refund, or if it is not the full value, type in the amount of the refund.

Refunds issued to you from your suppliers are processed in exactly the same way through Suppliers > Tasks pane > Supplier Refund.

4.17 Bank reconciliation

It’s important for you to check that the transactions you’ve posted into Sage 50 Accounts match those that have been paid into and out of your bank account. To help you keep track of this, we recommend that you run a bank reconciliation on a regular basis.

This isn’t a mandatory procedure, and for some bank accounts it is unlikely to be necessary. If you don’t want to do a bank reconciliation you can switch this off on the individual bank by opening the record and selecting the No Bank

Reconciliation check box.

To reconcile your bank account you should follow these steps:

1. Ensure you’ve entered all the transactions into Sage 50 Accounts for the relevant period.

2. Get a copy of your current bank statement from your bank. It can be easier to tick the transactions off on a paper copy, so if you are getting the information from an online bank system you may want to print a copy.

3. Take a backup of your data through File > Backup.

4. Within Sage 50 Accounts, click Bank > ensure the correct bank account is highlighted

> click Reconcile.

5. In the Statement Summary window, a reference is generated automatically; you can either keep this, or enter your own reference, for example November’s Bank

Statement. You then need to enter the end balance from your bank statement and the date up to which you are reconciling.

This doesn’t have to be for a set period and could be for a month, a week, a day, or any period you require.

6. If there are any bank charges or interest on the statement that you’ve not yet entered, enter them here then click OK. The Bank Reconciliation window appears.

7. The first figure to check is the Last reconciled balance which appears in the bottom section. This must agree with the opening balance on your bank statement. If it doesn’t agree you’ll not be able to reconcile your bank, and you should close out of the bank reconciliation and investigate the reason why this is incorrect.

If you’ve deleted or amended a bank reconciled transaction this may be the reason why it is different.

8. If the value does agree, all that you need to do is locate each transaction on your bank statement in the top section of the window. Having located the transaction you can either double-click each individual transaction, or highlight a number of transactions, and then click Match. Each of these transactions will then move down to the bottom section.

If you accidentally select a transaction and match it, to move it back to the top section, select it and click Unmatch.

9. If any transactions are missing because you’ve not yet entered them, to add these in, you can use the Adjust option.

10. When you’ve matched all the transactions on your bank statement, at the bottom of the window the Matched Balance and the Statement Balance will be the same, with a difference of zero indicating that you have successfully reconciled your bank.

If the difference is not zero, it must be due to one or more of the following reasons:

• The Last reconciled balance doesn’t match the opening balance on your bank statement.

• You’ve entered the incorrect End Balance.

• You’ve matched a transaction which doesn’t appear on your bank statement.

This could be because the value was entered incorrectly or you’ve matched a payment rather than a receipt for the same value.

• You’ve not matched a transaction which does appear on your bank statement.

This could be because you’ve entered the incorrect date for the reconciliation so some transactions are excluded.

11. If you’re happy with the reconciliation, and you want to mark all the transactions in the matched section as being bank reconciled, click Reconcile.

You’ve now successfully completed the bank reconciliation process in Sage 50 Accounts.

If you want to save your progress at any time click Save. When you go back to Bank > Reconcile, if you choose the option of Use Saved, the reconciliation appears exactly the way you left it.

4.18 Calculating, reconciling and submitting your VAT Return

If your business is in the Republic of Ireland, different VAT rules apply. If you have any queries regarding these specific rules, consult

www.revenue.ie

Sage 50 Accounts performs all of the necessary calculations for your VAT Return whether you use the invoice based (standard) or cash based (VAT Cash Accounting) scheme.

You can also run checks on the VAT Return to improve the accuracy of your values.

For UK based businesses, Sage 50 Accounts also supports:

• Flat rate VAT schemes.

• Online VAT submissions to the HMRC Gateway.

The process of calculating and reconciling your VAT Return is as follows:

1. You must make sure that you’re using the correct VAT scheme in Sage 50 Accounts otherwise the VAT Return will not be correct. You chose the scheme during the

ActiveSetup Wizard detailed in section 4.1 Enter your company details. You can check your current scheme in Settings > Company Preferences > VAT. If you’re unsure which scheme you should use, consult your accountant, HMRC or the Revenue in the

Republic of Ireland for further advice.

If your current scheme is wrong, call Sage Technical Support on 0845 111 55 55 for assistance. If you are in the Republic of Ireland call 1890 88 20 60.

2. If you’re based in the UK and planning to submit your VAT Return online, whilst you’re in Settings > Company Preferences > VAT, you should also check that your VAT registration number, and all of your eSubmission credentials and contact details have been entered.

Your user ID and password is obtained when you register with the Government Gateway at

www.hmrc.gov.uk

3. To open the VAT Return, open Company > from the Tasks pane, click Manage VAT >

VAT Return.

4. To take a backup of your data click Back up.

5. Enter the from and to date for the VAT period you are reporting on.

6. To check or change which VAT Verification checks run, click Settings, select the required options and click OK.

7. Click Calculate VAT Return.

You’re advised how many transactions have been located for the period, and if any earlier transactions are found, a list appears with the transaction details.

8. If there are earlier transactions and these should appear on your VAT Return, click

Include. If they should not be included, click Ignore. If there are no earlier transactions, click OK.

9. The VAT Return is populated with all the values from the transactions you have entered for this date range. You must then determine whether the figures are an accurate reflection of your trading within the period.

10. If the Verification checks return any potential queries with the VAT Return, you can check what they are in View Results. You can then make any required changes, to do this, first close the VAT Return, make any required changes and recalculate the return.

11. If you need to adjust any values on the VAT Return, click Make adjustments.

12. To print the VAT Return and reconcile it, click the required options in the Reports area.

13. To check the values you can click the value in each Box to view a breakdown. Within the breakdown, you can also double-click each summary value to see the transactions that make up the value.

If you need help with reconciling your VAT Return, use the new Show me how option in Manage VAT.

14. If you’re happy with all the values, and you want to mark all the transactions in the return as being VAT reconciled, click Reconcile VAT Return.

15. After you’ve clicked Reconcile, you can make the required VAT Transfer between your tax control accounts and your tax liability account. If appropriate, payments to your tax authority and electronic submission of your VAT return are prompted from this window as well.

4.19 Correcting mistakes

If you’ve made an error in posting a transaction in Sage 50 Accounts, don’t worry, you can correct your mistake and keep a full record of the corrections that you make.

You can access the Corrections module from File > Maintenance > Corrections. From this window you simply locate the transaction which contains the error and either choose Edit

Item to make an amendment or Delete Item to remove it completely.

Here are a few things to remember when editing transactions.

• If you amend a critical field, the original transaction is amended and a deleted transaction is created at the end of the audit trail. This deleted transaction shows the original details before the amendment. Some examples of a critical field are; date, nominal code, net and VAT amounts.

• If you change the net amount of a transaction, the VAT amount doesn’t automatically recalculate so you must also amend this value.

• You can’t delete a transaction which has been VAT reconciled. Instead, the software asks you if you want to reverse the transaction; this posts the opposite transaction type. For example, if you try to delete a VAT reconciled sales invoice, a sales credit is posted to reverse its effect.

• If you amend or delete a transaction which was already bank reconciled, this changes the Last reconciled balance of your next bank reconciliation.

• It’s not possible to delete or amend a critical field on a journal transaction. If you make a mistake with a journal you should manually reverse the journal by reposting it with the same date and values, but swapping debits for credits and vice versa. This removes the effect of the journal and you can then repost it correctly.

4.20 Management reporting and period end

At the end of any given financial period it’s standard procedure to run a series of reports to determine how your company is performing. There’s no definitive list of reports you must run, but as a general rule the following reports should be run to monitor your financial position.

Report

Trial Balance

Profit and Loss

Balance Sheet

Aged Debtors

Where to find it

Company > Financials >

Trial Balance

Company > Financials >

Profit and Loss

Company > Financials >

Balance sheet

Customers > Reports >

Aged Debtor Reports

What it shows

The balance of every nominal code you have in your accounts.

How much profit your company is making.

The worth of your company.

All the money owed to you from your customers.

Aged Creditors Suppliers > Reports >

Aged Creditor Reports

All the money that you owe to your suppliers.

Month End

At the end of the month, as an optional procedure, you can run the month end process; this clears the monthly turnover figures within your customer and supplier records.

In Sage 50 Accounts Plus, Professional and Client Manager the month end routine can also be used to post automatic prepayments, accruals and depreciation.

To run a month end, open Tools > Period End > Month End.

Running this process doesn’t stop you from being able to process transactions back into the month you have just completed, unless you use the Lock Date feature and select the Disable Posting Before date option. unless you use the

Lock Date Feature and select the Lock Posting Before check box. To access the Lock Date feature, open Settings > Lock Date.

Year End

At the end of your financial year, it’s mandatory to run the year end procedure, however this doesn’t have to be run on the actual day your financial year finishes.

1. Ensure that you’ve entered all transactions for the year you are closing.

2. Print all of the reports your business requires. As a minimum we would recommend the reports detailed above.

3. Take two backups of your data in File > Backup, and ensure that these backups are stored in a secure location. It’s useful to label these backups as ‘YearEnd2013_1.001’ and ‘YearEnd2013_2.001’ for example.

4. Within Tools > Period End > Year End, complete the required steps then click Run Year

End. The archive is a ‘read only snapshot’ of your company at the point when you run the year end. To access this at a later date, go to File > Open > Company Archive.

Running this process doesn’t stop you from being able to process transactions in the year you’ve just completed, unless you’ve set a lock date.

4.21 Data strategy

Your Sage data is absolutely critical to your business; therefore it’s crucial that you have an effective data management strategy to protect yourself from any loss of information.

Check Data – The Check Data process found in File > Maintenance > Check Data analyses your data to ensure it’s free from corruption. The worst case scenario if your data does become corrupt is that all the information relating to your accounts is lost; therefore checking its integrity is a key business process.

We recommend that you run the Check Data process at the end of every day where processing has taken place. The presence of errors indicates a problem which must be rectified immediately. If you have errors after running this procedure, for further advice visit:

www.sage.co.uk/mydata

If you have any warnings or comments you can elect to either address these or ignore them until a later date.

If you are in the Republic of Ireland call 1890 88 20 60.

Back up – Having checked that your data is free from errors, a data backup should then be taken at the end of every day where processing has taken place. Found in File > Backup, the file created by the backup process should be stored in a secure location, ideally not relying on a single PC to hold these files. We also recommend that a backup is taken prior to running any major business process like a VAT or bank reconciliation or the year end procedure.

Chapter 5: Hints and tips to make the most of your software

5.1 Microsoft Excel, Word and Outlook integration

If you have Microsoft Office 2003 or above installed on your PC you can send information from Sage 50 Accounts over to Office, where you can manipulate the information as you wish. For example, from within any ledger or list window if you click To Excel, all of the information in the window is copied into a new spreadsheet.

Using similar functionality in File > Office Integration it’s also possible to run a mail merge of your accounts information in Microsoft Word, for example, to do a mail-shot to your customers. You can also export your contact and Diary information from Sage 50 Accounts into Microsoft Outlook.

5.2 Using the Search facility

When you have a large number of records it can be difficult to find the one that you’re looking for. You can use the Search facility within every ledger to refine the number of records displayed to help you find the information you need quickly and efficiently.

Even if you don’t know the exact details, you can use a wildcard to search for non-specific information. For example, if you know a customer’s telephone number starts with 0191 you could search for all the records Where > Telephone Number > Is Equal To > 0191* to show all appropriate records. A Quick Search feature is also available for locating records swiftly. Quick Search is located under the toolbar of each relevant module.

5.3 Customisation and configurable columns

It’s possible to customise Sage 50 Accounts so that the ledgers appear in the way you want them, and the opening ledger is the one most relevant to your business. Within Tools

> Options > View you can choose your own Initial View, that is the module that appears by default when you first open the software, and choose whether you want the Process Map or the List to be used for the Customers and Suppliers modules.

Within each ledger window you can show information which is not visible by default, and hide information which is not relevant to your business. To do this right-click the column heading and select the columns you require. So within the Customers list, for example, you could hide the telephone number, and show the email address instead.

5.4 Turning an invoice into a credit

If you’ve created an invoice for a customer, and subsequently need to issue a credit note, there’s no need to manually enter the information again. Simply highlight the invoice within the list then click Credit at the bottom of the screen.

The credit note is then created as an exact duplicate of the invoice. If required, changes can still be made prior to saving and printing.

5.5 Duplicating and amending batches of records

If you need to create a number of records that are very similar, the Duplicate option saves time by copying the data from an existing record to a new record. You can then amend any details as required add an account name and save the new record.

The Batch Change option can be used to make the same changes to multiple records without the need to open, change and save them individually.

5.6 Reversing journals

The Reversals option in the Nominal ledger can be used to reverse journal transactions.

Journals are often made up of multiple lines so this is a great time saving feature.

5.7 Hotkeys and software shortcuts

There are a number of ways to navigate quickly around the software using the keyboard rather than the mouse, enabling you to enter information as quickly as possible.

For example, if you are entering a supplier invoice with multiple lines, you can use the

F6 key to copy the field above, saving you the need to enter the data again.

A full list of all Hotkeys can be found in the software help files, accessed from Help >

Shortcut Keys, and on the back of this guide.

5.8 Electronic banking

If you bank online it is possible to send payments to your suppliers from Sage 50 Accounts through to your banking software. To set this up:

1. A list of compatible banks is available from Sage’s website. To access this information, from within Sage 50 Accounts 2014, open Weblinks > Sage e-Banking.

2. If your banking software is listed here, select the option to Download plug-in and save the file to your desktop.

3. Close Sage 50 Accounts, locate the file you downloaded and double-click it to install the required component.

4. Open Sage 50 Accounts and switch on e-Banking in Settings > Bank Defaults >

Enable e-Banking.

5. Within your list of bank accounts, open the appropriate bank record. In the Bank

Details tab make sure your sort code and account number have been entered, select your bank type from the list and save the bank record.

6. For all the suppliers that you’re paying electronically, within the Bank tab of their individual records, ensure all their banking details have been entered, select the

Online Payments check box, and save the records.

You’re now ready to start using e-Banking. After paying your supplier, to create the required file, click E Payments within your list of bank accounts, and follow the on-screen prompts.

5.9 Recurring bank entries

Many businesses have transactions which are processed through the bank for the same value at regular intervals. The Recurring option within Bank is used to set up and process transactions of this type, meaning you’ll never forget to process a payment for the rental of your business premises for example.

5.10 When to use the M, S1, S2 and S3 product codes

Within a product invoice there are 3 special product codes you can use which don’t appear in the main list of products. These codes are M, S1 and S2 and can be used in the following scenarios:

M – If you want to add a one-off message to your invoice which doesn’t have any value, you can use M and then enter the required text. For example, ‘We’ll be closed for Christmas between December 24th and 29th ‘

S1 – If you’re selling a customer a product with VAT which you don’t usually sell and therefore isn’t in your product list, you can use the S1 code.

S2 - If you’re selling a customer a product without VAT which you don’t usually sell and therefore isn’t in your product list, you can use the S2 code.

S3 – Is used to add service items to product invoices. This code is only available in

Sage 50 Accounts Professional and Client Manager.

The tax codes associated with these product codes can be amended in Settings

> Invoice & Order Defaults > Options > Special Items.

5.11 Batch reporting

You can use Batch Reporting to group reports together and run them at the same time, saving you time and effort. For example, if you run customer and supplier day book reports at the end of each month, you can run these together as a batch.

5.12 Global data changes

If you need to make the same change to a number of records the Global Changes wizard can be used to save you having to make the change to each record individually. For example, if you’re increasing your product sales price by 5% you simply go into Tools >

Global Changes and follow the on-screen prompts, choosing Product sales prices and

Increase by percentage.

5.13 Using smart links

When viewing a customer’s activity, if you want to see the original invoice which created the transaction simply double-click on it and the relevant invoice opens automatically.

5.14 Importing data

If you have information in a spreadsheet you want to add into Sage 50 Accounts there’s no need to manually enter the information into the software. By using the File > Import option data relating to numerous records and transactions can be imported in using a single quick and simple process.

5.15 Where you can get additional help?

This guide is designed to give a brief overview of the main software features. If you require more detailed information use should use the following resources available to you:

Installation help – If you’re based in the UK, for further information about installing your software, please refer to

www.sage.co.uk/welcome

The software help files – Simply press F1 in any screen to get detailed help on that specific area of the software.

Ask Sage – Available online to UK SageCover customers, the Ask Sage database contains answers to thousands of common questions, giving you the answers you need to run your business 24/7. To access Ask Sage, go to the following website:

•

www.sage.co.uk/ask

Chapter 6: Sage 50 Accounts – Advanced features

6.1 Processing in foreign currencies

Sage 50 Accounts Professional and Sage 50 Accounts Client Manager both include foreign currency options as standard. This module is now available to purchase in other variants as well through Tools > Activation > Enable Foreign Trader.

You can set up the foreign trade options with the Foreign Trader Setup Wizard in Tools >

Activation > Enable Foreign Trader. Once configured you can:

• Create foreign customer records, supplier records and bank accounts.

• Create foreign currency invoices, credits and orders.

• Create foreign currency batch invoices, credits, payments and receipts.

• Process bank transfers between base and foreign currency bank accounts.

• Revalue foreign currency bank accounts.

6.2. Order processing – Sage 50 Accounts Professional and Client Manager

Sage 50 Accounts Professional includes order processing modules that can be used to produce sales and purchase orders for your products and services.

Sales Order Processing (SOP)

From the Sales Order Processing module you can:

• Create, allocate, despatch and print sales orders.

• Generate goods despatched notes.

• Update sales orders to become sales invoices without re-entering the information.

Purchase Order Processing (POP)

From the Purchase Order Processing module, you can:

• Create a purchase order, place stock on-order, record part and full deliveries and print the purchase order.

• Generate goods received notes.

• Updated to become purchase invoices without re-entering the information.

6.3 Price lists – Sage 50 Accounts Plus, Professional and Client Manager

Price lists

You can use price lists to set up different product prices and apply them to one or more customers. You can group together customers who purchase products from you at a discounted price. For example, if you have trade customers, you may decide that they can have a 5% discount on all items and a further 5% discount on selected items.

In Sage 50 Accounts you can create a price list with this information.

Special price lists

You can use special price lists to set up a different product price for a particular customer.

For example, you may have a customer who pays a particular price for one product but a trade price for other products. In Sage 50 Accounts you can set a customer up on a trade price, price list and have a special price set up for a particular product.

6.4 Projects – Sage 50 Accounts Plus, Professional and Client Manager

Sage Accounts has an enhanced Project Costing option which helps you to maintain accurate details about projects and enables you to track costs, revenue and stock movement of a project.

The overall objectives of a project costing process are to manage your projects and give you total control and a thorough understanding of your project costs. With a good understanding and better control of your costs they can potentially be reduced, and therefore increase your revenue and profit, improving the productivity of your business.

This feature is available in Sage 50 Accounts Plus, Professional and Client

Manager.

6.5 Fixed assets – Sage 50 Accounts Plus, Professional and Client Manager

You can use The Fixed Asset Register to create records of your fixed assets and, if required, set up automatic monthly depreciation in their value.

The Disposal wizard is available for when you sell or otherwise dispose of assets.

This feature is available in Sage 50 Accounts Plus, Professional and Client

Manager.

Notes

Sage 50 Accounts – Software Shortcuts

F11

F12

Function Keys Function

Sage 50 Accounts help files

Windows Calculator

Edit individual invoice line

Activate drop down list

Currency calculator / Spell checker

Copy the field above

Insert a line

Delete a line

Calculate Net

Windows Control Panel

Sage 50 Accounts Report

Designer

Sage’s policy is one of constant development and improvement.

We reserve the right to alter, modify, correct and upgrade our software programs and publications without notice and without incurring liability.

Sage (UK) Limited

North Park

Newcastle upon Tyne

NE13 9AA

Telephone 0191 294 3000

Facsimile 0845 245 0297

Website www.sage.co.uk

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Reklama

Getting Started with

Sage 50 Accounts

Making the most of your software

Making the most of your software

Contents

Quick install guide

New features in Sage 50 Accounts 2014

Getting Started with Sage 50 Accounts

PART 1 – PREPARING TO USE SAGE 50 ACCOUNTS

Chapter 1: Preparation

“Preparation” – Check list

PART 2 – INSTALLING SAGE 50 ACCOUNTS

Chapter 2: New to Sage 50 Accounts

Installing Sage 50 Accounts on a network - check list

Chapter 3: Already using Sage 50 Accounts

Prepare your old version - check list

PART 3 – USING SAGE 50 ACCOUNTS

Chapter 4: Creating your company and getting started

Common questions about settings and defaults

Chapter 5: Hints and tips to make the most of your software

Chapter 6: Sage 50 Accounts – Advanced features

Notes

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