Sage 50 Accounts Virtual Training Modules and Module Content
Table of Contents 1. Accounts Year End 4 2. Bank Reconciliation 4 3. Bank Transactions 5 4. Bill of Materials 5 5. Credit Control 6 6. Customer Discounts 6 7. Customer Transactions 7 8. Customers and Suppliers 7 9. Data Management 8 10. Departments and Budgets 9 11. Foreign Trader 9 12. Invoices and Credits 10 13. Irish VAT 10 14. Management Reports 11 15. Month End 11 16. Nominal Postings 12 17. Nominal Records and Chart of Accounts 12 18. Opening Balances 13 19. Purchase Order Processing 13 20. Products and Opening Balances 14 21. Project Costing Stage 1: Configuration and creating records 14 22. Project Costing Stage 2: Posting transactions and reporting 15 2
23. Sales Order Processing 16 24. Supplier Invoices and Payments 16 25. UK VAT 17 26. V23 New Features 17 27. Sage 50 Report Designer Level 1 18 28. Sage 50 Report Designer Level 2 18 29. Sage 50 Report Designer Level 3 18 30. Sage 50 Report Designer Level 4 19 3
Accounts Year End 1. Before Year End Overview When to run your year end Post into the future financial yea Final checks 2. Running Year End What happens when you run year end? Run the year end option 3. After Year End Checks and procedures after year end Tidy up your accounts (optional) Bank Reconciliation 1. Overview and settings How often should you reconcile? Benefits of bank reconciliation Bank settings 2. Manual bank reconciliation Statement Summary The bank Reconcile window Matching transactions Saving without reconciling Reconciling Reporting on bank reconciliation 3. Electronic bank reconciliation Overview Settings and configuration for e-banking Bank Statement Details Matching options Reconcile electronically 4
Bank Transactions 1. Overview and bank details The Bank accounts window Bank record account details Bank settings 2. Bank payments and bank receipts Bank payment Bank receipt Bank transfers Cash register 3. Recurring and contra entries Recurring entries Contra entries 4. Bank Feeds Overview and preparation To set up bank feeds To download transactions To create or match transactions Bill of Materials 1. Creating product records Product records Importing product records 2. Bill of Materials Overview Pricing the assembled product Quantities available for makeup Check bill of materials Assembling the BOM 5
Credit Control 1. Credit Control Reporting The Credit Control tab The Chase debt view On-screen debt reporting Aged debtors reports Ageing periods Other credit control reports Supplier reports 2. Credit Control documentation and communication Customer statements Customer letters The Communications tab 3. Credit Control Management Disputed transactions Account Status Bad debt write-off Late payment charges Customer Discounts 1. Setting up customer discounts 2. Producing invoices and orders with discounts 3. Set up customer price lists and special pricing 4. Additional discounts and settings Discount structures and types Good customer discount Discount on invoice value Discount on quantity sold Settlement discount Produce an invoice with a good customer discount Produce an invoice with an invoice value discount Produce a sales order with a quantity sold discount Produce an invoice showing a settlement discount Create a customer price list Assigning a price list to the customer record Copying an existing customer price list Special customer price Overview One-off discount 6
Net value discount Multiple discounts Discount settings Customer Transactions 1. Customer basic invoicing 2. Additional invoicing routines 3. Customer receipts and refunds The Customers module Batch customer invoice and credit note posting The Invoices and credits module Creating a service invoice Duplicating invoices Printing invoices Favourites Emailing invoices Updating invoices Net value discounts Deposits Credit notes Customer receipts Customer refunds Customers and Suppliers 1. Setting customer and supplier defaults 2. Creating customer or supplier records 3. Customer and Supplier Opening balances Benefits of customer and supplier defaults Setting customer and supplier defaults Custom fields Trading terms The Details tab The Defaults tab The Bank tab The Memo tab The New Customer wizard Importing customer and supplier records Excel worksheet (*.xls,.xlsx) files Overview Preparation The Opening Balances window 7
Entering customer and supplier opening balances Checking opening balances Amending mistakes Running off the ledgers (optional) Data Management 1. Error Corrections Error corrections Correcting transactions Finding a transaction Correcting a transaction with an incorrect invoice number Correcting a transaction with an incorrect nominal code Changes to the audit trail Amending a transaction that has been paid Unallocating an invoice paid in error Deleting a transaction Amending VAT reconciled transactions Correcting transactions with VAT cash accounting Correcting journals Journal reversals 2. Safeguarding your data Backing up your data Keeping your backups Checking data The File Maintenance Problems report The backup Scheduling backups Restoring data Crash checking 8
Departments and Budgets 1. Departments The use of departments Creating departments Labelling departments Recording departmental information Departmental reports 2. Budgets Standard budgeting Budget repo Advanced budget Departmental budgeting Changing the budgeting method Foreign Trader 1. Activate Foreign Trader 2. Entering customer and supplier transactions 3. Revaluing your foreign bank account for month end 4. Depositing Euros into the bank current account Foreign Trader Activate Foreign Trader Set up exchange rates Set up foreign customers or suppliers Set up foreign bank accounts Posting a customer service invoice Printing or Emailing the invoice Updating the invoice to the ledgers Customer receipts Posting a supplier invoice Paying a supplier invoice Producing the Balance Sheet report Bank transfer 9
Invoices and Credits 1. Quotes, invoices and credit notes 2. Additional invoicing routines Quote defaults Creating a quote to convert into an invoice Viewing your quotes Creating a quote to convert into a sales order Converting a quote The Invoices and credits module Credit notes Updating to the ledgers Negative values Net value discounts Deposits Cash sales Irish VAT 1. VAT Return preparation Configuring VAT preferences Running an accounts audit 2. VAT Return production VAT Return checklist Access the VAT Return Calculating the VAT Return 3. Complete the VAT Return tasks Check and reconcile the VAT Return VAT transfer Submit to Revenue Online Service (ROS) Record payment VAT Information Exchange System (VIES) Return Return of Trading Details 10
Management Reports 1. The Audit trail and Trial balance reports 2. Chart of accounts and The Profit & loss report 3. The Balance sheet and ratio reports 4. Lock Date Settings and Batch reporting The Audit trail report The Trial balance report Chart of accounts The Profit & loss report The Comparative profit & loss report Profit and Loss (Monthly Breakdown) The Balance sheet report The Ratio report (Sage 50 Accounts Plus and Professional only) Lock Date Settings Posting late transactions Batch reporting Month End 1. Fixed Assets 2. Pre-payments and Accruals 3. Stock Take and period end Fixed asset categories Fixed asset register Creating fixed asset records Posting tab Posting depreciation Double entry postings Fixed asset reporting Fixed asset disposal Prepayments Setting up prepayments Posting prepayments The prepayment journal Accruals Setting up accruals Posting accruals The accrual journals Physical stock take: reports Stock take adjustments Stock returns Period end process 11
Nominal Postings 1. Posting opening nominal balances Why enter opening balances? How to enter opening balances When to enter nominal opening balances Where do the nominal opening balances come from? Preparing for nominal opening balances Reversing the current TB Entering the trial balance from your accountant 2. Entering opening bank balances Entering the bank balance Checking the opening balances Check your data and back up 3. Posting journals Journal entries Processing journal entries 4. Memorising and recalling journal entries Memorising journals Recalling journals Notes on skeleton journals Nominal Records and Chart of Accounts 1. Setting up the Nominal codes module 2. Customising the chart of accounts Integrated three ledger system The nominal codes module Setting up the nominal codes Creating, amending and deleting nominal codes Control accounts Creating new bank accounts The role of the chart of accounts The default chart of accounts Checking the chart of accounts Understanding the COA layout Floating nominal accounts 12
Opening Balances 1. Customer and supplier opening balances 2. Posting nominal opening balances 3. Entering bank opening balances to customer and supplier opening balances Why enter opening balances? Preparing for opening balances The Opening Balances Window Entering a default date for opening balances Entering customer and supplier opening balances Checking opening balances Amending mistakes Ruling off the ledgers (optional) Why enter opening nominal balances Reversing the current TB Entering the trial balance from your accountant Entering the bank balance Checking the opening balances Check your data and back up Purchase Order Processing 1. Preparing for purchase order processing 2. Purchase order processing Multiple delivery addresses Supplier price lists Supplier discounts Purchase order defaults The Purchase Re-Order List The order cycle Entering a purchase order Placing the order (immediately) Delivering the order Updating the ledgers 13
Products and Opening Balances 1. Planning a stock system 2. Creating product records 3. Cost of sales and opening balances Planning your product codes Product categories Product defaults Creating a product record Deleting a product record Editing a product record Non-stock items Importing product records Reporting on your products Overview Profit: stock and cost of sales Cost of stock assumptions Nominal codes: posting opening stock Product record: entering opening quantities Check opening balances Correcting opening balances Project Costing Stage 1: Configuration and creating records 1. and configuration 2. Cost types and cost codes Configure project costing Project status Project Custom Fields Planning project reports Setting up cost types Setting up cost codes 3. Project records Creating project records Importing project records Using sub-projects Changing the project list view 14
Project Costing Stage 2: Posting transactions and reporting 1. Assigning transactions to projects 2. Purchase orders and committed costs 3. Resources, project charges and error corrections 4. Project reporting and enquiries 5. Billing and project closure Assigning transactions to projects Purchase invoices Purchase credits Bank Payments Stock issues and stock returns Items listed in Products and services Marking items as on-order Project enquiries Goods received Automatic stock allocation Issuing stock Order completion Items not listed in Products and services Order completion non stock items Manual stock allocations Creating resources Project charges Project credits Error Corrections Project reporting Project activity Project enquiry Smart links The customer record Calculating the amount to bill Batch invoicing The invoices and credits module Project closure Archiving completed projects 15
Sales Order Processing 1. Preparation for sales orders Sales orders settings Customer Price lists The sales orders module The sales order cycle To generate a sales order 2. To create sales order Item details Mixed orders 3. To allocate sales orders Printing sales orders Allocating sales orders Sales orders shortfall 4. To despatch sales orders The despatch options Effects of delivering sales orders Sales orders reports Supplier Invoices and Payments 1. Supplier invoices and credit notes 2. Supplier payments and documentation The suppliers list Supplier batch invoice posting Resizing and hiding columns Entering batch data Memorise and recall Supplier batch credit note posting Reports to list the debts that require payment Payment in full and part payments Dealing with discounts Dealing with credit notes Dealing with payments on account Batch payments Remittances The e-banking option 16
UK VAT 1. VAT Return preparation 2. VAT Return Production 3. Complete the VAT Return tasks Configuring VAT preferences Fuel scale charges Running an accounts audit VAT Return checklist Access the VAT Return Calculating the VAT Return Check and reconcile the VAT Return VAT transfer Submit to HMRC Record payment EC Sales List V23 New Features 1. Payment with invoice Batch Supplier Invoices Batch Customer Invoices Access Rights 2. Negative lines on invoices 3. Payment terms and Transaction drill-down Product Invoices Service Invoices Printing and Updating Set up your default Payment Due terms for new records Edit Payment Due terms on customer or supplier records Due on date in customer and supplier invoices Transaction drill-down 17
Sage 50 Report Designer Level 1 1. to Report Designer Edit an existing report The report layout Locating and inserting variables Formatting and assigning styles Directory Structures The Report Wizard 2. Creating a new report Document types and tables The report structure 3. Sorts and filters Reporting your report Report filters Sage 50 Report Designer Level 2 1. The Report Wizard Custom fields Audit header, split and usage tables Using the Report Wizard 2. Using criteria to query reports Enabling criteria for your report Moving sections Dealing with unwanted sections 3. Grouping Inserting a group Sub-totals and sub-headings Sage 50 Report Designer Level 3 1. Modifying groups 2. The Expression Editor The Character Count function Numeric formatting The Keep Together function Expressions Creating a report with multiple groups Creating an expression Use Advanced Filter IF Statements Drill down reports Conditional formatting 18
Sage 50 Report Designer Level 4 Using filters for checking purposes 1. Advanced filters Shortening large filters Linking expressions 2. Joining tables Overview 3. Layouts and Report properties Join Editor Overview The Layout folder Inserting an image or logo Emailing reports and layouts Securing PDF files 19