Top Features and Benefits of Sage 50 Software

There are a plethora of Sage 50 accounting courses out there in the market. If you are wondering whether Sage 50 software training could benefit you, read this article to find out more about the benefits and features of Sage 50 accounts.

What is Sage 50?

Sage 50 Accounts is one of the most widely used accounting software programs in the United Kingdom. This is because it aligns with the requirements of small and medium-sized businesses. However, there are various types of companies, and each has its own set of requirements. Therefore Sage 50 provides the best accounting solutions depending on the type and size of the business.

What is Sage 50 Used For?

Individuals of many professional backgrounds, including bookkeepers, accountants, and financial managers, take advantage of Sage 50 Accounts software’s features and functions.  It helps users run their organisations more efficiently and economically by giving the necessary tools required for a company to run their accounting section smoothly. Keep reading to find out how Sage 50 Accounts features and benefits can help you manage your business while also giving you a better edge in your professional growth.

What Are the Features of Sage Accounting Software?

Let’s take a look at some of the features offered by Sage 50, which makes it a popular software:

It can manage the cash flow of a business

Dealing with client expenses is no easy task for accountants. They invest a significant amount of time each month to manually prepare financial reports to keep track of the money moving in and out of business. However, using Sage 50 accounting software, you can conveniently produce automated reports on a timely basis. You may even search for the most appropriate report layout before using it.

Optimisation of sales

No matter how small or large their company is, a business needs to keep track of the orders they’ve received and the profit targets they’ve set for a specific period. Sage 50 software can assist you in creating quotes, sales orders, and invoices to keep the sales processes organised. Therefore, you can easily depend on this software to produce sales optimisation reports.

It can manage payroll

Managing the payroll of a company with hundreds of employees is a daunting task for any accountant. However, Sage 50 is compliant with the up to date payroll and pension legislation. In addition, your business can utilise the built-in Payroll function to pay the staff, manage earnings, and file taxes.

Invoicing and payment acceptance

When it comes to dealing with finances, invoicing is unavoidable. However, generating invoices for every customer is no easy task. However, thanks to Sage 50 software, you can not easily create, edit and send out invoices. You can minimise the likelihood of late or missing payments by using the software.  Also, you can track expenses to have a better understanding of your company finances. In addition, the Sage 50 comes with add-ons such as Sage Checks and Forms and Sage AP Automation. These tools help to streamline invoicing and payments.

Management of Inventory

Poor inventory management can result in a loss of sales for businesses that sell products. On the one hand, a lack of inventory may drive the transaction to go to a competitor. On the other hand, keeping an extra supply is not cost-effective. Therefore, Sage 50 comes with an inventory management feature. Moreover, You can decide which products need more stock and what products need to be discontinued.

Benefits of Using Sage 50

A better reporting function

Sage 50 Accounts now has a better reporting tool to customise data and financial statement formats. Report generation is essential so that the company’s Investors, stockholders, and auditors can go over them to grasp where the business stand.

Sage 50  has several reporting features that make creating reports quick, straightforward, and convenient. For example, you may create monthly, quarterly, and yearly reports, as well as comparative reports for two distinct accounting periods. In addition, the Excel and Crystal function in the Sage 50 information section allows the generation of customised reports.

User-friendly software

You don’t necessarily have to be an accountant to make use of Sage 50. Although Sage 50 Accounts is predominantly an accounting software, non-accountants can use it as well. If you’re a business owner who isn’t a certified accountant, for example, you can still use Sage 50 to manage your accounting needs. The features are all described in straightforward, non-technical language. 

A Secure Platform

The financial data of a company is often sensitive and private. Sage 50 Accounts has multi-level security capabilities that allow you to control who has access to what in your company. This means you can limit who has access to corporate data and decrease the risk of theft and fraud of company assets.

Other security features include the incapacity to modify accounting data from a previous accounting period during the current accounting period. Users can look at data but not change it in any manner. Therefore,  Accounting fraud is less likely thanks to these features.

Customisable versions available to suit the business requirement

Sage 50 Accounts comes in various versions and editions to address the needs of companies of all sizes and complexity. Different versions of Sage 50 Accounts are available in a single edition.

As discussed earlier, payroll processing, inventory management, and credit card processing are all-inclusive within the  Sage 50 Accounts. As a result, businesses may use the full range of tools to streamline client management.

Better management and inventory control

Inventory function is one of the most beneficial functions of the Sage 50 software. A perfect example of a business disaster is when a business has to turn away customers due to the lack of inventory. You could lose those customers forever.

Therefore, Sage 50 Accounts enables users to keep a close eye on stock levels and maintain an accurate stock prediction based on sales orders.

Sage 50 training with 1Training

1Training offers a range of Sage training courses online whether you are in accounting or running a business and want to streamline the accounting process. Check out our website to see if a Sage 50 course will help you better perform your accounting department’s business functions.

Suppose you are interested in more information about the field of accounting. In that case, we encourage you to look at The Definitive Guide to Small Business Accounting for UK Based Companies.