Sage 50 Accounts 2013 in easy steps

223 Pages·2013·24.43 MB·English

by  Gilert

Sage 50
Accounts 2013
For users of Sage 50 Accounts, Accounts Plus, Accounts Professional
and the Sage Instant Accounts range
Gillian Gilert

In easy steps is an imprint of In Easy Steps Limited 4 Chapel Court . 42 Holly Walk . Leamington Spa
Warwickshire . United Kingdom . CV32 4YS
www.ineasysteps.com

Copyright © 2013 by In Easy Steps Limited. All rights reserved. No part of this book may be reproduced or
transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or
by any information storage or retrieval system, without prior written permission from the publisher.

Notice of Liability Every effort has been made to ensure that this book contains accurate and current
information. However, In Easy Steps Limited and the author shall not be liable for any loss or damage
suffered by readers as a result of any information contained herein.

Trademarks Sage 50® is a registered trademark of The Sage Group plc.
Microsoft® and Windows® are registered trademarks of Microsoft Corporation. All other trademarks are
acknowledged as belonging to their respective companies.

In Easy Steps Limited supports The Forest Stewardship Council (FSC), the leading international forest
certification organisation. All our titles that are printed on Greenpeace approved FSC certified paper carry
the FSC logo.

Printed and bound in the United Kingdom
ISBN 978-1-84078-597-5
1
2
3
4
Contents
Getting Started
Introduction
Starting Sage 50 Accounts
Sage 50 Desktop Views
Settings
Company Preferences
Currency & the Euro
Customer & Supplier Defaults
Finance Rates
The Customer Ledger
Keeping a Financial System
The Customers Toolbar
Creating Customer Records
Price Lists
Batch Customer Invoice
Batch Customer Credit Note
Debtors Analysis
Credit Charges
Disputed Invoices
Customer Reports & Modem
Customer Letters and Labels
The Customer Statement
The Supplier Ledger
The Supplier Toolbar
Creating Supplier Records
Using Search
Supplier Activity
Supplier Aged Balance
Recording Supplier Invoices
Supplier Credit Notes
Supplier Letters and Labels
Supplier Reports
The Nominal Ledger
The Nominal Toolbar
The Nominal Ledger
Nominal Records
Viewing Nominal Transactions
The Journal
Making a Journal Entry
Setting up Prepayments
Setting up Accruals
The Chart of Accounts
Nominal Reports
The Bank
The Bank Toolbar
Bank Accounts
Bank, Cash & Credit Accounts
Recording Bank Payments
Supplier Invoice Payments
Batch Purchase Payments
Bank Receipts
Recording Customer Receipts
Bank Transfers
Recurring Entries
Generating Cheques
The Bank Statement
Bank Account Reconciliation
Bank Reports
Products
The Products Toolbar
The Product Record
Product Defaults
Using Search
Bill of Materials
Viewing Transactions
Product Activity
Product Adjustments
Product Transfers
Product Reports
Invoices
The Invoicing Toolbar
Invoicing
The Product Invoice
Printing an Invoice
The Service Invoice
The Skeleton Invoice
Product Credit Note
Process Recurring Transactions
Updating your Ledgers
Printing for Batch Invoicing
Producing Reports
Processing Sales Orders
Sales Order Processing Toolbar
The Sales Order
Allocating Stock
Despatching Sales Orders
Amending & Printing Sales Orders
Sales Orders Reports
Purchase Orders
The PO Processing Toolbar
Creating a Purchase Order
Placing Orders ‘on order’
Recording Deliveries
Processing Purchases Manually
Recording Deliveries Manually
Printing Batched Orders
Purchase Order Reports
Financials
The Financials Toolbar
The Audit Trail
The Trial Balance
Profit & Loss Report
The Balance Sheet
Quick Ratio Report
The Budget Report
The VAT Return
VAT e-Submissions
Financial Reports
Fixed Assets
The Fixed Assets Toolbar
Recording your Fixed Assets
Fixed Asset Depreciation
Depreciation and Valuation
The Report Designer
The Report Designer
Creating a New Report
Modifying an Existing Report
Opening Balances
Introduction
Standard VAT – O/B
VAT Cash Accounting – O/B
Clearing Opening Balances
Entering Balances Mid-Year
Nominal Ledger & Bank A/C
Product Opening Balances
Data Management
Backing Up Data
Restoring Data
Changing Global Values
Importing Data
File Maintenance
Write Off, Refund & Return
Posting Contra Entries
Run Period End Functions
Clearing Audit Trail & Stock
Task Management
Features of the Diary Module
The Diary Window
Setting Up a Diary Task
Setting Up a Recurring Event
Completing an Event
Chasing Debt
Managing Payments
Office Integration
User Defined Labels
Managing Events
Contents
5
6
7
11
10
8
9
12
13
14
15
2
Learn how to use the Customer (Sales) Ledger to maintain customer records and create new ones as well
as enter credit notes and invoices. See how to view transaction activity, set up a customer price list,
produce an overdue payments letter, apply credit charges and mark an invoice as disputed.
The Customer Ledger
20
21
22
24
25
26
27
28
29
30
31
32
Keeping a Financial System
The Customers Toolbar
Creating Customer Records
Price Lists
Batch Customer Invoice
Batch Customer Invoice
Batch Customer Credit Note
Debtors Analysis
Credit Charges
Disputed Invoices
Customer Reports & Modem
Customer Letters and Labels
The Customer Statement

Regularly monitor your Customer credit using the Chase Debt option in the Customer Tasks list. Here you
can quickly see who owes you money and easily produce a handy printout of any overdue or outstanding
debtors useful for chasing payment.
Keeping a Financial System
It is essential for all businesses to have a system to record and monitor their
business and financial transactions. This information needs to be accurately
recorded and kept up-to-date if it is to present a true financial position.
Such a system will involve the recording of transactions using the traditional
method of bookkeeping or advanced accounting procedures, so that financial
reports (i.e. profit & loss statements and balance sheet, etc) can be produced.
These reports provide the Management with information on sales, purchases,
turnover, expenses, debtors and creditors, assets and liabilities, and more
importantly, if the business has made a profit.
HM Revenue and Customs will also need accurate accounts, which must
conform to general bookkeeping and accounting procedures. This is vital for Tax
and VAT Returns. Visit the website at www.hmrc.gov.uk for up-to-date
information on online filing and payments.
This information is also of importance to your Bank Manager, especially if there