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Understanding Sage Accounting

Understanding Sage Accounting

When you own a small or medium sized business you have an awful lot of things to take care of. The most important of these is finding new customers and providing the products or services that you offer. If you want your business to grow, you must be continually finding and servicing new customers, and if it is possible in your type of business, selling more products/services to existing customers.

Of course, the more new customers you take on and the more sales you make to existing customers, the more money you will have and the more you can continue to expand. However, it is one thing taking on more customers and making more sales, but until you actually get paid you have merely given the stuff away! This is why you absolutely must keep a very watchful eye on cashflow because it is very easy to let it slip. Sure, you may have made a ton of sales, but you need to get paid for them. Looking at great sales figures can feel wonderful, but at the same time you have to have cash in the bank.

This is why, as your business grows, you need to have a very strong credit control system in place. Using the Sage accounting system will help you to achieve this. The software is designed specifically for new businesses and small businesses who need to manage their cashflow and handle their finances correctly. Sage provides simple, yet powerful solutions and can work with an unlimited number of customers. Whether you have ten customers or ten thousand, the Sage accounting software will handle them with ease. Furthermore, it can invoice in multiple different currencies if required.

The Sage software allows you to design your invoices to match with your brand. There are nine different templates from which you can select, and which handle your invoices whether for products or services supplied. You can select theme colours and fonts relating to your branding and, of course, you can add your company logo. You can add terms and conditions, and footer details including information about your business. Add contact details and any notes that you wish, such as the way you want the customer to pay, for example. Line items including quantities, price, rate, and showing discounts if appropriate. You can also add contact details and addresses.

The software keeps all your customer details and your product and service information. Sending an invoice is simple: just select the customer, add the products or services supplied, and send the invoice.

The Sage accounting software is far superior to handling your billing manually. Manual billing systems are often inefficient and can result in higher operating costs than online billing. This has an effect on payment processing and, crucially, your bottom line. The software can help you to stay organised and achieve an efficient payment system, at the same time reducing your overheads. With Sage you create customised purchase and sales invoices, including pro forma and recurring invoices, and you can draft invoices before sending.

Sage Accounting processes the invoice as soon as it is sent or received, and there is a Pay Now button on the invoice. When the customer pays you using that, it will automatically update inside the software. Furthermore, the software is integrated with Stripe so you can take card payments directly from your invoices no matter where your customer is located.

In order to use the Sage Accounting software, either you, or your staff member responsible for invoicing and receiving payments, should attend our Total Training Solutions Sage course in Manchester. Our Sage 50 Accounts Stage 1 course will give you a firm understanding of the basic principles of Sage Accounting and is the first course in our Sage accounts series. It will help you to become familiar with the Sage 50 Accounts user interface and understand how to use password protection and how to restrict user access. You will also learn basic configuration, financial year settings, and setting up tax codes, and understand how to set up bank, cash, and credit card accounts.

In addition, you will understand how to create, amend, or delete customer and supplier accounts, and enter opening balances. You will also learn about the Chart of Accounts and how to amend it.

Our Sage 50 Accounts Stage 1 course is the perfect course for someone new to Sage Accounting and is the place to start before progressing to our Stage 2 course for a more in-depth understanding of the software.