If there is any software that can best serve the requirements of resource planning and business management, it is Sage. As one of the leading software used by accounting businesses, Sage tops the charts and is loved by more than six million businesses worldwide.
In this blog post, we will cover Sage 50 accounting software in detail to help you understand the differences between Sage versions and how to select the right one for your business.
What is Sage 50 Accounting Software?
Sage 50 accounting software has been designed to help small and medium businesses in their accounting needs. As a business management software, it helps manage accounting data that is otherwise handled manually.
Most CPAs and accounting firms use this software to process information faster and handle functions like accounts receivables and payables, expense management, sales reporting, to name a few. As a desktop accounting software, you can use this software in a local-hosted environment.
If you haven’t started using Sage 50 desktop accounting software, you must know its salient features to understand how it can benefit your business.
Features of Sage 50 Software
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Inventory management
Product-oriented businesses invest a lot of time and effort in managing their inventory to boost sales. Therefore, maintaining the right balance between lacking stock or holding it in excess is crucial. This is where Sage 50 accounting software plays a vital role.
Using the real-time stock data provided in this powerful accounting software, you can get to know what to buy more for stock keeping and what to exclude from your inventory because of a lack of sales. Ultimately, it will help save time and money, which are crucial for your business.
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Cash flow management
Like most SMB owners, you might feel annoyed to spend several hours each month creating financial reports and keeping track of cash flowing in and out. Want to automate this aspect of your business? Look no further than Sage 50 accounting software.
With the help of this advanced software, you can get automated cash flow reports whenever you need them. It also gives you the flexibility to select a suitable report layout before downloading them. Getting these reports in presentable layouts also means that you need not edit them for business presentations.
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Payroll
Managing several employees on your payroll every month can be a tough nut to crack unless you use third-party payroll services or software to make things simpler. Having Sage 50 software by your side has you covered in this aspect.
The software has an intrinsic payroll feature that you can use to pay your employees, report taxes, and track profits. Also, it is compliant with the latest pension/payroll legislation to keep you on the safe side. If you choose to access Sage’s payroll feature remotely, switch to Sage hosting solutions (we will cover it in detail below).
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Payment acceptance
Irrespective of the scale of your business, invoicing can act as a bottleneck towards getting paid on time. If you create invoices for all your customers manually, you would agree that the complications will grow further with the rise in sales. Besides this, human errors add more stress to the invoicing process.
Sage 50 accounting software can make things easier for you by helping create, edit, and send client invoices automatically. You can also track payments received and minimize the risk of getting delayed payments using this software.
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Sales optimization
The simplest way to grow your business is to set realistic sales targets and keep on achieving them over time. However, keeping track of all the orders received and meeting sales targets is not as easy as it may sound.
Worry not, as Sage 50 accounting software is there for assistance. It is known to provide sales optimization reports. You can also benefit from creating quotations and invoices using this software.
Recommended Read: All About Sage Software in Detail
How is Sage 50 Accounting Software Different from Sage 50cloud?
Sage 50 accounting software is available as both desktop software and Sage 50cloud. While the former option is suitable for usage in local server setup, the latter is a cloud-backed alternative provided by the Sage group itself.
You can use Sage 50cloud to access all/most of Sage 50 desktop software features in a cloud environment. Since Sage itself provides the cloud server, software pricing in local-hosted and cloud-hosted versions varies significantly.
Remember that hosting your licensed Sage software on a third-party cloud server is different from using Sage 50cloud. You need to hire a cloud solution provider for Sage hosting and select a suitable hosting plan based on your business needs.
Empower Sage 50 Software with Verito’s Cloud
Does the terms like remote accessibility, team collaboration, and data security matter for your business? Join hands with Verito Technologies to host Sage accounting software on the cloud.
To discuss your business-specific needs, contact us at 1855-583-7486.
