Sage 50 Accounts For Dummies by Jane E. Kelly
By Jane E. Kelly
The effortless technique to come to grips with Sage 50 Accounts
Written via a Sage 50 money owed professional and choked with step by step directions, this hands-on, obtainable advisor is the best way to grasp this renowned small enterprise accounting software program. jogging you thru each element of developing and utilizing Sage 50 Accounts—from fitting software program to operating VAT returns and generating year-end accounts—Sage 50 money owed For Dummies deals easy-to-follow information at the fastest strategy to entire projects and customize Sage to fit your particular company needs.
Recommended by means of ninety% of accountants, Sage 50 bills is Europe's best-known small company accounting package deal. Now thoroughly up to date to mirror the most recent model of Sage 50 debts, this pleasant advisor takes the effort out of operating with the software program. very quickly, you may be navigating your manner round the new Sage 50 bills interface, making feel of the most recent alterations to backups, and optimistically taking keep an eye on of what you are promoting' finances—freeing you as much as spend some time handling different parts of your business.
- Reflects the most recent adjustments within the 2015 variation of Sage 50 debts software
- Shows you ways to establish and use Sage 50 debts with minimum fuss
- Provides valuable screenshots that will help you each step of the way
- Offers suggestions on going cellular with the Sage 50 app
Whether you are new to Sage 50 money owed or simply have to wake up and working at the most modern software program, this no-nonsense consultant makes it easy.
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Currencies: This lets you edit your currency requirements if you use multiple currencies. Countries: This lists all the countries in the world and their country codes, and identifies countries that are currently members of the EU. The Sage 50 Accounts Professional package uses this information to comply with Intrastat reporting requirements. ) You can amend the Countries table as and when countries enter or leave the EU. Control Accounts: This gives you an at-a-glance list of all the control accounts within Sage.
I discuss the profit and loss report and balance sheet more fully in Chapter 18, where I also cover producing monthly accounts and the types of report you may need. Looking at the Structure of Your COA The COA is a list of nominal codes, divided into the following nine categories: Fixed Assets Current Assets Current Liabilities Long-term Liabilities Capital and Reserves Sales Purchases Direct Expenses Overhead The first five categories form the balance sheet; the remaining categories create your profit and loss report.
Sage has a separate module for CIS and the recording of payments to subcontractors. You can activate this scheme by clicking Tools and then Activation for businesses that fall under the scheme. You can use the Upgrade Program option to register after your initial 30-day Sage trial period runs out. Opening Balances: This gives you a series of actions that you need to complete to enter your opening balances. In Chapter 4 I guide you through the Opening Balances wizard. Period End: This lets you run the month end, allowing you to post accruals, prepayments, and depreciation.