Sage 50 is rated as the topmost accounting software that is used by small to medium sized businesses to manage their business accounting tasks easily. This software provides robust accounting features so that you can keep your accounting data safe and secure without worrying about data loss. With the help of this accounting software, it becomes easier to handle the accounting tasks without getting any accounting errors. Moreover, using the Sage 50 software also helps in cash flow management, payroll processing, sales optimization, and so on.
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Purpose of Using Sage 50 software
Managing the business accounting tasks is a bit complicated and a time-consuming task. So, by using the Sage 50 accounting software you can easily manage the tasks of handling all aspects of financials , from generating invoices to submitting VAT returns online. To know about the purpose of accessing the Sage 50 software for your organization you must go through the following points.
1. Helps managing Cash Flow Statements and Invoicing:-
Using the Sage 50 accounting software you can easily generate the cash flow statements invoicing. You can also see what you owned, manage late payments, and schedule supplier payments. It helps in calculating the VAT easily and can also link your bank account to Sage to download the latest bank transactions. The best part is that it helps the businesses by automatically filing tax returns with HMRC.
2. Helps in tracking inventory:-
This accounting software provides you with the inventory tracking feature used to provide you a real-time view of the stock levels. Moreover, it enables you to upload your products and organize them into categories which is best for faster inventory management.
You may also track quantities of products, set minimum re-order levels. Also, it gives stock notifications to know which products are selling best in the market and which you need to re-stock.
3. Business Reporting:-
With the help of the Sage 50 software you can get all financial reports involving cash flow statements, balance sheet data, profit analysis, etc. You can also get a clear insight into past and current trends in your business performance. Thus, it will help you in taking better business decisions necessary for the growth of your business.
Also, you can share reports with your team or the interested investors and then use the data for taxation purposes. Moreover, it also enables the businesses to categorize reports and export them into PDF files and Excel spreadsheets without manipulating with the original document formats.
4. Bill Payments:-
The Sage 50 software includes the features of Accounts Receivable (AR) and Accounts Payable (AP), representing how much money who owes to your suppliers and how much customers owe you. With the help of the automated A/R features, send invoices and track payments to keep your cash flow organized.
Moreover, it also provides you with the auto-generated reports of which customers owe you, how much they owe you and how long they owe you.
5. Helps in Minimizing Human Error:-
Having an accurate accounting software like Sage 50 is essential to manage your daily business accounting tasks without any errors. You can also eliminate the risk of human error by storing all your information digitally.
6. Cost-Effective Accounting Software:-
As we all have seen that the paper accounting involves huge and tiresome processes. It means either you have to spend a lot of time or pay a heavy charge to someone else to do it on an hourly rate. But now, you don’t have to worry much and can purchase the Sage 50 accounting software at a very low monthly subscription.
7. Get the 24*7 Assistance:-
The best part about using the Sage 50 accounting software is that it provide its customers with assistance service 24*7. No matter which time it is you can get immediate help from the Sage accounting experts when you get issues while using the accounting software.
8. High-Security :-
Sage 50 is hosted on the cloud and all the security measures are taken care of by the cloud hosting provider. Also, the hosting providers can take steps to ensure that your financial data remains safe using the third-party applications, data encryption technologies, and firewalls.
As your company data is stored in several servers and regularly backed up it also eliminates the risk of data breach or loss.