Sage 50 Review

Introduction

Sage 50 promises its customers the ability to save 10 hours of their time each week simply by using its accounting software. Thanks to being on the cloud, running your finances for your company while on the go is possible, while still having the power of a desktop accounting software package. So, wherever you are in the world, you can see the financial position of your company quickly and easily - safe in the knowledge that is accurate and reliable. The company wants to give companies the ability to take control of their finances so that they can grow to their full potential, without ineffective and poor accountancy practices acting as a drag on their profits or performance.

Price

Starting at £12 a month for its Sage Business Cloud Accounting package.

Key Feature

Its comprehensive suite of tools for any tier of package.

Key features and prices

Sage Accounting has the ability to integrate with many other applications. That’s crucial as it means that Sage can be woven into a company’s existing systems quickly, without the need to rebuild systems around a new accounting package. 

There are three different types of packages that customers can choose between. There is Sage Cloud Accounting (costing £12 a month ordinarily, but currently £1.20 for the first 4 months), Sage 50 cloud Standard (costing £72.00 a month) and Sage 50 cloud Professional (costing £145.00 a month). There’s a big differential in price therefore between all these options. 

To know which is the most suitable for you, it is crucial to know what each allows you to do. The cheapest option is accessible on any device from anywhere. It is aimed at the sole trader or a small business. It supports making accuratinge VAT payments as well as the management of cash flow, expenses, income and payments. It is possible to create, send and track invoices and quotes, all of which can be personalised. This package can run many advanced reports, manage inventory and allow for multi currency banking and invoicing. Users are unlimited and can snap receipts with AutoEntry.

The Standard package is a desktop app that helps with invoicing and cash flow management. Like the cloud accounting package, it helps send out and create invoices to help manage cash flow better. However, it can also set up invoices and transactions to recur and help with bank reconciliation. If any discounts are needed for specific users, it can do so automatically but it also helps with VAT and CIS submission to HMRC. Importantly, it tracks and manages stock as well as being able to create and run bespoke reports. It also allows firms to invoice and trade in foregin currencies, though additional fees may apply.

The most expensive package offers this, and more. It is an advanced accounting solution where users can create sales and purchase orders, reconcile transactions automatically in bank accounts, even with foreign currency, and generate analytic reports which delve into the financial situation of a company. That’s down to the application supporting the betterment of cash flow by keeping track of expenses, income and payments better. One key feature for this package is the ability to set up customers with individual pricing and discounts which then feed into their invoices automatically.

Conclusion

Sage is a famous name in the accounting software world. Companies use it as it streamlines their financial procedures, improving many elements of their business as a result. Not only is less time spent ensuring that all payments are made (both incoming and outgoing), but also that all the correct payments are made to the HMRC. Users often cite its reports as a big advantage to using this package as well as the fact that it integrates so seamlessly with many other software packages through extensions.