All businesses need some form of accounting software. Until not so long ago, many owners of small businesses resorted to manual methods of accounting, involving laborious recording and analysis of financial data by hand.
With the introduction of new software and digital methods of tracking and processing data, many people’s lives have undoubtedly become easier. However, not all accounting software is easy to use and even the most widely used options will require some basic training for you or your team.
In this blog, we discuss the role Sage accounting software can play in your business and explore whether it could be the right option for your company.
What Is A Sage Accounting System?
A Sage accounting system is a software package designed to make various accounting processes easier. Its services are particularly optimised for small businesses as one of its primary target demographics. However, larger enterprise-level organisations also use Sage and its features can be applied to a wide range of business types and sectors.
The Sage system collects your information, classifies it and then summarises it in an accessible way. This can be useful for internal spending reviews as well as tax calculation. It can also assist in various operational tasks.
- Invoice generation and printing
- Store customer and supplier data
- Process payments
- Manage inventory stock levels
- Calculation of payroll and other payroll related functions
- Summarise and manage customer accounts
- Check and address overdue balances
- Periodical sales analysis
- VAT returns
Why Is It Popular?
Sage gathered a wide user base very early on, quickly gaining dominance in the accounting software market. And while there are many other options to consider today, such as Xero or QuickBooks, it still has a strong position, largely thanks to many long-term users retaining this software as their primary accounting choice.
A huge number of accountants in the UK recognise and use Sage regularly. This reduces the learning curve companies face when either working with external accountants to handle their books with Sage, or hiring an in-house accountant who already has existing knowledge of the system to manage the company’s finances.
Reduce Human Error
A completely computerised method of storing all of your financial information lets you rule out the risk of human error. As long as you train your staff to input data directly into the system rather than transferring information over from physical ledgers or notes, you’ll be able to rely on the integrity of your data.
Seemingly small errors can have a catastrophic effect on a business so it’s a no brainer to protect yourself against this by adopting a system like this as early as possible.
Admittedly, other accounting software packages offer similar benefits in this regard. The key thing is to choose something reliable from the start and make sure you integrate it comprehensively.
One of the great things about Sage is you can get support quite easily, whether that’s when you’re first learning how to use it or if you face any trouble along the way. Their customer service offerings are robust and you’ll easily be able to find resources online to help you fix simple accounting problems.
Real Time Accounting
With many businesses adapting to quite sudden changes and disruptions today, it’s crucial that we have pretty much immediate access to the financial workings of our businesses.
While Sage offers some impressive long-term analysis of spending, it is great at offering real-time access to financial data too.
This includes all transactional and cash flow aspects of your operations, as well as all outstanding payments and unprocessed invoices.
It Save Your Time
Data entry methods are quite intuitive on Sage. While some information must be updated manually, there are numerous automation options that will help with accounting tasks.
Raw information only has to be entered into the system once and you can use it for various different purposes.
Do You Need Sage Training?
Sage is an advanced accounting program that gives businesses more choice when it comes to how their finances are handled. If you or your team want to develop skills in this area, let us know. We have options for Sage training in Manchester and other parts of Northern England as well throughout London and surrounding counties.