Businesses worldwide keep looking for ways to simplify how they handle their accounting processes. Most importantly, they prefer monitoring their organization’s financial health, quickly creating invoices, and streamlining payroll in a jiffy. One of the most effective ways to ensure all these is using Sage 50 Cloud Accounting – a dynamic and powerful cloud-based platform explicitly designed for businesses of all sizes.
Sage 50 on the cloud offers many features, including robust reporting capabilities and flexibility. It allows business leaders to access essential data in real-time from any device or platform—and all with ease. The best part? Thanks to its user-friendly interface that combines simplicity and speed. Even those who have never used accounting software can quickly get up and running. But don’t take our word for it – keep reading below as we explore the various features available with Sage 50 Cloud Accounting.
Sage 50cloud Accounting Features
A complete accounting system for businesses of all sizes, Sage 50 on cloud offers fundamental features, including financial reporting, A/R, and A/P. Cash flow forecasts, customized reporting, and other premium features are included as standard. The inclusion of some practical, cloud-connected capabilities like digital invoicing, online payments, automated bank reconciliation, Microsoft Excel-based reporting, etc., makes Sage 50 accounting on the cloud an excellent tool that increases user productivity. The best part – users get the ability to use a laptop or smartphone to access the software remotely.
Let’s take a closer look at some of the top features of Sage 50 on the cloud.
Accounts Payable (A/P)
Sage 50cloud’s A/P module has fantastic capabilities, yet it might be challenging to navigate. It enables users to create suppliers, bills, costs, purchase orders (POs), and service items using this module. Furthermore, they can set prices for service-related items using the A/P module. Sage 50cloud deserves praise, even just for its A/P capabilities. Its usability, however, could be better than what many businesses expect from an accounting application.
The navigation flows involve excessive popup windows, and the interface is congested. Since Sage 50cloud is challenging for those with little to no experience with accounting software and principles, it is often considered as a software package for accounting experts rather than small business managers or owners.
Suggested Reading: How to Access Sage 50 Remotely?
Accounts Receivable (A/R)
While there are certain elements of the A/R module of Sage 50 Cloud in other accounting software, they aren’t as dazzling and cutting-edge. Users can generate PDF invoices from records using Sage 50 Cloud’s invoice management feature. Additionally, they can send receipts, credit memos, and check customer accounts. The only feature lacking is the ability to issue checks to customers with credit balances.
Cash Flow and Invoicing
An integral part of financial reporting, cash flow management and its analysis ensure that businesses operate in the most fiscally prudent way. Performing it regularly enables organizations to plan growth and expand their business more strategically. Sage 50cloud lets you do that exactly. It helps companies analyze their cash flow, examine the inward/outward flow of revenues and expenses, and predict future cash flow.
In addition, the Statement of Cash Flows enables businesses to determine the cash flow categories they should be concerned about operating, investment, or financing. It allows them to see the changes to various accounts over a while and view where their incomes and expenses are distributed.
Other features include:
- ‘Broadcast’ invoices to multiple customers
- Create custom recurring invoices.
- Get paid faster with the online ‘Pay now’ functionality.
One of the most crucial aspects of accountants, business managers, and project managers who use an accrual-based accounting method, project accounting helps manage financial transactions associated with projects, including costs, billing, and revenue. This cloud-based Sage 50 accounting feature allows users to create tasks, assign them, and freely set project estimates. It helps them to ensure that their business meets the overall project financial goals by closely monitoring the project costs, material expenses, billing, and revenue.
Finance and accounting professionals often generate reports in the form of periodic statements that reflect the financial status of their organization. However, generating different kinds of reports often takes time, especially for those who don’t use Sage 50 on the cloud. The cloud version of the software allows users to generate multiple and different kinds of reports in no time.
Here’s a look at the various types of reports that businesses can generate using cloud-hosted Sage 50:
- Comparative balance sheet
- Comparative profit and loss (P&L) statement
- Statement of cash flows
- A/R aging
- A/P aging
- Income/loss by month
- Income/loss by customer
- Income/loss by class
- Income/loss by location
- Income/loss by project
- Unbilled charges
- Unbilled time
- Transaction list by customer
- Expenses by vendor
- General ledger
- Trial balance
Suggested Reading: Questions You Should Ask to Sage 50 Hosting Providers
Sage 50 on the cloud helps businesses simplify payroll processes for employees with direct deposit, pay cards, or direct-deposit checks. Additionally, they can:
- Monitor employee records, such as the payroll checks they process and the payroll taxes they collect from their employees.
- Quickly get Sage Payroll up and running using the Payroll Setup Wizard
- Manage the hours used for vacation and sick leave and track employee tips.
- Create paychecks based on entries during a payroll period – beneficial for businesses with employees who enter time tickets for the number of hours worked on projects.
Business accounting often gets tricky and time-consuming, especially when businesses don’t have the right tools. However, Sage 50 cloud help them manage all their business helps them manage all their business accounting needs in one place. From accounts payable and receivable to cash flow and invoicing, Sage 50 Cloud has it all covered. Plus, it also offers project accounting and payroll features to help businesses streamline their operations. So, if you’re looking for an easy and efficient way to manage your business finances, look no further than Sage 50 Cloud!