Initially referred to as Peachtree Accounting, Sage 50 cloud is regarded by many to be the best accounting software for small businesses.
Sage 50 is an intuitive desktop accounting software. In this detailed review, we are going to look at the top features, plans, pricing, and 3rd party integration.
What Is Sage 50 Cloud Accounts?
The software is capable of processing information rather faster, and accounting-specific functions, such as accounts payable/receivable, expense management, bill payment, and sales reporting.
The software is backed by secure, modern cloud Technology, which adds flexibility to the accounting process, among other benefits.
It is usable by up to 40 users simultaneously and offers advanced accounting tools like module-level security and inventory management.
Additionally, Sage 50 allows you to add options for credit card processing and payroll, allowing for easier management of finances. The solution comes with a mobile app and integrated seamlessly with the leading productivity tools like Microsoft Outlook, Excel, and several other third-party applications.
Sage 50 Cloud Accounts Features
Simplify business management, and accounting tasks with Sage 50—one of the most advanced accounting software solutions for small businesses.
It will equip you with all the tools you need to accomplish your business goals.
Sage 50 is preferred accounting software for more than three million people across the world. Here are some of the features that make it stand out from other small-business accounting software solutions:
Inventory and Service Management Center
This feature offers you a complete overview of transactions and status for any selected inventory item, either stock or non-stock.
The system features a total of 22 customizable modules, including Purchases, Sales Invoices, Inventory Adjustment, and Sales Backorders.
For assembly items, the software will also show you the build and unbuilt transactions, including the bill of materials.
For each item, the system will show you a list of all assemblies that use the item as a component. With Sage 50, you will be able to choose LIFO, FIFI, or Average Costing options.
It will also allow you to set low stock levels and reorder quantity thresholds. You may also have different descriptions for purchasing and sales of each item.
However, the Pro version of the software does not allow you to edit the bill of materials once it has been used.
Cash Flow Management
Normally, accountants spend a lot of time creating financial reports to track their clients’ cash flow. The process is even slower when carried out manually. The Sage 50 accounting software is designed to save you a considerable amount of time each month.
The software allows you to get automated reports that are generated in a timely manner. You may even alter the reports to your preferred layout before downloading them. If you will be using the reports for presentations, you will not need to edit or update them.
The fact that the reports are downloaded in impressive presentable layouts has been proven to save accountants many hours every month.
Customer Management Center
This is a feature on the Sage 50 that is designed to offer you convenient access to customer data in your business. This feature is also very flexible, allowing you to hide, show or even rearrange up to 19 data fields to suit your specific needs.
For instance, you may have such customer data fields as contacts, aged receivables, sales orders, top customers over a certain period, invoices, and item sales history.
Sales Orders and Purchase Orders
The Sales Orders functionality on Sage 50 will help you monitor sales that are waiting to be fulfilled in the business. To avoid repetitive typing, and save time, the solution allows you to convert sales orders into sales invoices.
The Sales Order feature will also keep an accurate track of the inventory to notify you when you need to reorder.
This functionality interfaces with the accounts payable, and the inventory.
Every time you receive a purchase order in your business, the Sage 50 will automatically increase the inventory level accordingly. At the same time, the system will automatically set up the invoice in accounts payable.
The Purchase Order feature on Sage 50 has a Select functionality. With Select for Purchase Orders, you will be able to select a range of all of the inventory items.
The software will then evaluate the selected items and automatically generated purchase orders based on their inventory levels.
Global Payment Processing
The Sage 50 payment processing solution is specifically designed to save you money and time while helping you streamline business processes.
In this regard, the provider offers a range of in-store, online, and mobile options to suit different business needs.
For In-store payment processing, Sage 50 offers several countertop terminal options. These allow your customers to use their preferred payment method, including the major credit, debit, and chip cards.
By incorporating mobile payment options, Sage 50 allows you to accept payment through the major digital wallets from anywhere.
This integrated global payment processing solution will keep your funds flowing with a range of convenient payment processing options.
Additionally, it allows for seamless integration with Sage accounting products. This gives you access to multiple resources on the same platform.
With the Sage 50 accounting software, you will be able to modify your financial statements extensively. This gives you an opportunity to come up with detailed reports, summary reports or even summary reports with supporting schedules.
Allows you to choose the order in which the accounts are presented, and even insert subtotals at any point in the reports. You will be able to customize and save other non-financial reports as new. you may alter the sort order, apply filters, add or remove columns as well as additional details and product summaries.
The system is also capable of printing a range of customizable forms. In this case, it will allow you to include your business logo in the forms. The system will also offer you enhanced control over the color, fonts, and field placement on your forms.
However, you will not be able to create new fields on your Sage 50 forms.
The Sage 50 Pro version comes with a rather capable payroll processing module.
To access all the payroll tools, you are required to purchase a Business Care Gold plan (with support for up to 50 users) or the Platinum plan.
The Platinum plan supports an unlimited number of employees.
The payroll functionality has the tools you need to handle state am d federal taxes as well as process any regular or pretax deduction. The feature may be used to handle such deductions as garnishment, insurance, and retirement plans like IRA, and Roth 401k.
Unlike the Sage 50 Pro version, higher versions of the software support time card entry as well. Such a solution is capable of printing signature-ready forms for most tax and payroll reports. You may also get direct deposit and E-filling capabilities as add-on services.
Sage 50 Pricing & Plans
The provider offers a free trial for all its accounting software plans. After the free trial, you will have a number of software Subscription plans to choose from. Some of the main subscription plans offered by this provider include:
Sage 50cloud Pro Accounting ($20.67/month)
This is the simplest desktop accounting solution by the provider. It features remote access capabilities and Microsoft Office 365 integration at an added cost.
It covers essential needs such as invoices, managing income, expenses, and payments.
The plan offers unlimited access to North America-based phone support. Should you decide to subscribe for a whole year, you will be charged $214.80 /year. With this plan, you can pay bills, get paid, organize finances, manage cash flow and costs, and get cloud access.
Sage 50cloud Premium Accounting ( $30.00/month)
This is a more advanced accounting solution for small businesses. It offers all the features offered by the Sage 50 pro plan.
Additionally, you will also get advanced budgeting, inventory, audit trail, open multiple companies, and the ability to add more controls and users.
Additional Plan Choices
The provider also allows you to integrate any of the above-described plans with other integrations, such as Microsoft Office 365, and Payroll.
For the Sage Pro Accounting with Office 365, you will be charged $634 /year. Integrating your Pro accounting plan with Payroll will cost you $78.42 /month, which is billed annually.
For the Premium Accounting subscription plan with Office 365, you will be required to pay $858 /year. Integrating sage 50 premium with Payroll costs $99.92 /month, which is billed annually.
Sage50 Accounting 2020 System Requirements
Similar to other desktop software solutions, sage 50 has minimal system requirements.
To begin with, the Pro and Premium options require a minimal processor operating frequency of 1.0 GHz. You also need to have at least 4GB of RAM, and at least 4GB of free hard disk space.
You also need to have the latest version of Internet Explorer, and Microsoft® supported version of Windows 8.1 or Windows 10. The monitor needs to be 256-colour or higher SVGA monitor with a minimum resolution of 1024 x 768.
Other system requirements you should consider include:
- MAPI-compliant email client, Internet connection, and email service to sending forms via email
- CD-ROM drive
- To integrate Excel or Word, you will need 32-bit versions of Microsoft Word and Microsoft Excel 2010, 2013 or 2016
- Integration to the Microsoft Office 365 requires Microsoft Office 365 Business Premium
- For Sage online services, you need to have a high-speed internet connection
QuickBooks vs Sage 50
Sage 50 and QuickBooks are some of the most popular business management and accounting software solutions. Each of the services offers a unique set of benefits and downsides.
While QuickBooks focusses on bookkeeping and counting, Sage 50 is more is a feature-rich project management service.
So, how exactly do QuickBooks and Sage 50 compare?
Both services offer a suite of mobile apps for Android and iOS devices.
Both services allow you to perform virtually all core functions over the apps, including expense tracking and project collaboration.
Free Trial Period
Sage offers an excellent trial period, allowing its users to test the software for free without submitting credit card data. During the free trial period, Sage users get access to the full suite of Sage50.
QuickBooks also offers a free trial period but requires you to enter your credit card information beforehand. If you do not want to be billed, you will need to cancel the QuickBooks account before the end of the 30-day free trial.
Should you fail to cancel the account in time, you will be automatically billed the software Subscription Fees after the trial period.
Both services allow for convenient online access over the cloud. All you need is an internet-connected device to sync data across inline devices.
If the device is not supported by mobile apps, you may use it to login and view account data from your mobile browser.
With Sage 50, you will be charged extra fees for adding administrators to your account, about $10/month. All Sage plans have a single administrator by default. QuickBooks pricing is essentially based on the features offered.
With the higher QuickBooks plans, your account will be synced with Intuit Online Payroll for an additional $2/month per employee cost to file payroll taxes.
With Sage 50, you will be able to accept payments from your clients via PayPal or use the built-in online payment processing system–Sage Payment Solutions.
This option allows you to accept credit card payments for a small transaction fee. QuickBooks, on the other hand, does not offer payment processing of any sort.
Upgrades to the Sage 2020 Release
The 2020 Sage50 release is essentially about delivering the requested from you, the customers.
For instance, the address fields associated with Maintenance records for vendors, customers, and employees were expanded, accommodating a larger number of characters for longer addresses.
The item type field associated with your inventory items was also expanded offering room for up to 2o characters, while the Deposit Ticket ID field was expanded to accommodate up to 20 characters.
Since many States introduced Paid Family Leave laws, the provider added Special 3, 4 and 5 fields were added to the Withholding Info tab.
With the latest version of the software, you can now choose to email a specific contact, other than the primary/bill-to contact initially offered by default.
Some of the forms offered, in this regard, include Quotes, Orders, Sales, Invoices, Proposals, Change Orders, Receipts, and Credit Memos.
Other important updates include:
- The Notes field of the software was expanded to the Maintain Vendors area. In the current version, this field is similar to the Maintain Customers area, where the Notes field has existed for many releases.
- IPM Inbox Notifications: The new release feature a bell notification functionality on the Top Navigation within the Dashboard. This new feature indicates the number of active messages has not been read or dismissed.
Sage 50 Integration
Businesses, whether small or medium-sized require much more than accounting software to run smoothly. This is why the Sage 50 accounting software allows you to integrate with an assortment of other services for enhanced functionality.
The provider offers a number of paid apps that integrate seamlessly to all the Sage 50 plans. Some of the Sage apps that will add the functionality of your accounting software include AutoEntry, Avalara, App Automation, Bridge, Zynk, and DRAYCIR.
The system also supports such integrations as eBay, Magneto, EDI, MailChimp, Shopify, VIES, Amazon, CSV, Txt, and XML file integrations.
Sage 50 Easy Learning/ Cheatsheet
In order to exploit your Sage 50 accounting software entirely, you need to know how to use it. Here is a simple guide to help you install the software, invoice customers, create accounts, and secure data.
Keeping your Data Updated and Secure
It is essential that you keep your Sage data secure and updated at all times. Here are some tips to help you achieve this:
Schedule Regular Updates
From the main toolbar, click on File and select the Schedule Backup option.
From the Accounts Backup Manager window that just opened, click on settings and choose your preferred update frequency.
Apply Passwords for Security
Accessing the software as the manager allows you to set individual passwords and rights for each user in the company.
If you are using a single-user license, you can access the Access Rights feature to do this. From the main toolbar, you should click on Settings then select Company Preferences.
Now whenever you start Sage, a login window will appear, prompting you to enter your username and password.
To change access details, highlight the relevant user from the Access Rights Window and click on details. From this Window, you may also set the modules that the user has on the software.
Regularly use the File Maintainable feature to check your Data for any possible problems.
Sage Function Key Shortcuts
Using function keys will speed up operations and make it easier for you to access key Sage software functionalities. These are the main function key shortcuts you may use on Sage 50 Pro and Premium plans:
F1: this allows you to get relevant help topics for whichever Sage window currently open on your screen.
F2: Pulls up a small on-screen calculator
F3: Usable when entering details to an invoice, sales or purchase order. It opens an Edit Item Line window.
F4: Presents you with a complete list of a field with a drop-down arrow. May also be used to open a calendar in dates field or a calculator when working on a number field.
F5: Opens a currency converter in a numeric field and a spellchecker in a text field
F6: Copies the information from the cell above to the current cell
F7: Inserts a line above the one you are currently working on
F8: Deletes the line you are currently working on
F9: May be used to calculate the net amount of an invoice and the VAT element, especially when you only have the gross amount.
Final Verdict: Excellent Choice
Just like the renowned QuickBooks software, Sage 50 is an excellent desktop accounting software that is best suited for small businesses. The solution is also scalable to accommodate the accounting needs of a medium-sized business.
Sage 50 offers a vast range of accounting tools that many accounting professionals will find handy, ranging from creating a purchase, and sales orders to cash flow management. The software also supports a myriad of integrations, offering you advanced capabilities beyond accounting.
Such are the aspects that make Sage50 one of the best accounting software solutions in the industry.