Essential Period End Routines

Duration: 2 Days

What if you could drastically reduce the time it takes to run your Sage 50 period end routines? How would it feel to know that you can run the year end process smoothly, and are fully prepared for the next financial year?
There’s so much that Sage 50 can do, and so much to learn. Line 50 has grown quite a lot in recent years, so this course has been dedicated to all of the important period end functions you will need to use. After this course you can utilise the standard month end, year end and other important period end accounting functions (VAT return, for example!) held within Sage 50.

About the Course

This two-day course is the second stage of essential training for Sage 50 users. It concentrates on all of the credit control and period end routines that are necessary in order to continue problem-free accounting.

After this course you will be able to….

fully benefit by making use of the standard month end, year end and other important period end accounting functions held within Sage 50. You will also gain a good understanding of bank accounts, bank reconciliation, and for Internet users, e-banking.

Who should attend?

Existing Sage users who require a detailed understanding of the Month End, Year End, credit control and VAT Return facilities.

Preparation

Unless you are adequately familiar with the core accounting functions of Sage 50, you should first attend Sage 50 Stage 1 – The Accounting Fundamentals. As with all our training courses which deal with accounting software, familiarity with basic business terms such as invoice, VAT, double entry and so on is assumed. You may also find it useful to set some outline objectives to be achieved in utilising each program feature.

Course Content

• Introduction & Navigation
  Learn about main screen Navigation & Shortcut keys. Gain an overview of the three integrated ledger systems used in Line 50, those of nominal, sales and purchase ledgers.
• Prepayments & Accruals *
  Explain and setup a prepayment and accrual for accurate monthly reporting.
• Credit Control
  Producing credit control information both visually on screen and via printed reports i.e statements and letters
• Interest on Late Payments
  Look at how to calculate interest on late paying customers.
• Bad Debts, Write Offs and Contras *
  In this session learn how Sage 50 deals with bad debts and how the wizard will automatically create a transaction that will reverse the transaction on your audit trail.
• New improved Bank Reconciliation and e-Reconciliation
  Discover how easy it is to reconcile your bank account within Sage 50 against your actual bank statement. Then, for Internet users, we move on to look at how to download your electronic bank statement into Sage 50, and how to perform the e-reconciliation process.
• Cash flow
  This session looks at how to utilise this handy tool to best advantage, ensuring you are always in the best position and know how to avoid a negative cash flow situation.
• Using Multiple Charts of Accounts
  Learn how to set up multiple charts of accounts so that you can select different levels of details in your Profit and Loss and Balance Sheet reports.
• Management Reports
  Produce the management reports i.e Trial Balance, Profit & Loss, Balance Sheet and Budget reports.
• Export Data
  Export data from Sage and transfer to Microsoft Outlook, Excel and Word.
• VAT
  Perform the VAT return routine and reconcile to the VAT Accounts.
• Year End
  Prepare and run a Year End, including an accountants link to send data to your accountant, so your accountant can work out any necessary adjustments.
• Multi-company
  Create multi-companies for associated companies or branches.