Sage v25

Time to Upgrade to Sage v25

The latest edition of Sage 50Cloud Accounts, Sage v25 has just been released. Sage 50Cloud Accounts Software is continuously improving because Sage are always listening to customers and improving in order to bring you the best software your business deserves now, with the features you have asked for.

Synergy Network Ltd has been an accredited Sage 50 Accounts Business Partner for over 22 years now. We are very excited by the new version of Sage 50 Cloud Accounts v25 and the potential that it offers your company.

Some of the excellent new features include:

UNDO bank reconciliation

Sage v25

With Sage 50cloud Accounts you can now easily undo previous bank reconciliations in a couple of clicks. Handy if something’s changed since your last reconciliation.

 

Back up while other users are logged in

With Sage 50cloud Accounts there’s no more waiting for others to log out before you create a backup. As a result, you increase your productivity with this new flexible feature.

 

Bank Feeds Improvements

Bank Feeds is now even easier to set up, and with Sage v25 it is now simple to edit your Bank Feeds rules

 

Sage Capture Approvals

The Sage Capture mobile app is now even better with a new approvals option, giving you control of what’s posted to your accounts.

 

Pay now buttons on emails

Make it easy for customers to pay you by adding a pay now button directly onto your invoice emails.

 

For More Information on sage 50Cloud Accounts v25
Call Malcolm  (071) 914 6815 Or e-mail sales@synergynet.ie

My Dashboard 2.0 Exact

Have you heard about My Dashboard 2.0 in Exact Online?

It’s important that you can quickly and easily view your financial data, as well as other crucial information – with Exact’s new My Dashboard 2.0 you have fast access to key performance indicators (KPI). It has been redesigned and is more intuitive than before. To locate it within Exact, click on Dashboards > Specific > My Dashboard.

The KPI Widget Catalogue

Firstly, My Dashboard 2.0 goes much further when it comes to customisation. A wide range of widgets from CRM and financials to sales and purchasing will help you locate, organise and manage the information you need.

The catalogue will continue to expand, so Exact are always on the lookout for new KPIs to help manage your business. Here we see the current KPI Widget Catalogue (click to enlarge).

My Dashboard 2.0 Exact

 

 

Accounts Receivable – Ageing Analysis

This saves you time and can reduce your cash flow risk. It neatly summarises unpaid customer invoices by date and shows you without too much detail which are overdue (and for how long). Also, it’s possible to analyse the efficiency of your invoicing process, based on Days Sales Outstanding (DSO) figures.

Here we see the Accounts Receivable – Ageing Analysis widget.

 

 

An easy way to boost your business

What does this all mean for your business? By digging deeper into your data, the widget empowers you to take action.

  • Be aware of which customers have outstanding invoices and think about how to lower average payment time.
  • Identify and chase debtors in good time, or even completely avoid late paying customers.
  • Get more up to date cash balances due to quicker invoice processing.
  • Allow your accountant to monitor your processes and suggest improvements.
  • Develop a billing system with more ways to pay.
  • Automate digital reminders.

 

My Dashboard 2.0 helps you review your processes and make improvements. Improvements could include incentives for early payments, fees on late payments, and going digital. Furthermore, your accountant can assist you with business growth advice, how to optimise margins and reduce financial risks.

 

 

Knowledge means everything for your business. Awareness and insight into your data can help you to make valuable improvements to your processes.

Contact James today jdoyle@synergynet.ie to learn about the benefits Exact Online can bring to your business.

PAYE Modernisation – Revenue Seminars

PAYE Modernisation comes into effect in January 2019. To help employers prepare, Revenue are hosting free regional seminars.

They are booking up fast, but there are still places in some locations taking place in October 2018. See locations and book here.

The seminars will cover:

  • how to comply with the new reporting requirements
  • how to prepare for PAYE modernisation
  • the benefits of the new regime for employers and employees
  • updates to ROS for PAYE modernisation

 

What about my payroll software?

If you are still using Sage Quickpay, read here about why it’s time to change to Sage Payroll.

Already using Sage Payroll but want to know if your data is PAYE Modernisation ready? Read more here.

 

If you want to know about Sage Payroll or you would like us to take care of your Payroll data conversion to be ready for 2019 PAYE Changes:

Call Malcolm on 071 9146815 or sales@synegrynet.ie

How do I check my Sage Payroll data is ready for PAYE Modernisation?

The first stage of PAYE Modernisation will be Real Time Reporting, starting in January 2019. Here is a guide to make sure you are ready.

1. Check your Sage Payroll software is up to date

Install any available updates – these will have improvements for the new regime. Check in Help > Check for Updates.

 

2. Check company information

Check that your tax registration no., contact details and address are correct in Sage Payroll – you should also include this information in your returns to Revenue.

 

3. Validate your Payroll

Click on Reports in the menu bar > Validate Payroll Data. Should any errors appear on the report, you need to resolve them.

 

4. Record Tax Advisor Identification Number (TAIN) if applicable

This is only applicable if you are a tax agent who runs a payroll on behalf of an employer. Enter TAIN in Sage Payroll.

 

5. Check employee records

Each employee record must have their PPS no., date of birth, address and county.

Directors: you must say whether they are proprietary or non-propietary.

Employees starting this year:  make sure you specify start date in their employee record and that you have submitted a P45 (part 3) or P46 to ROS file to Revenue.

Employees leaving: make sure to specify their finish date and period in Employee Details. Also, submit their P45 to Revenue and give the official one to the employee themselves.

Any employee with a PAYE exclusion order:  input the details in their record.

Employees exempt from PRSI: state this in their record.

For employees on shadow payroll: specify this in their record.

 

6. Submit employees list to ROS

Employers are required to submit an up to date list of employees to Revenue. You can generate a list from within Sage Payroll. Read more and see how here.

You can only submit this list once.

 

For More information on Sage Payroll

Call Malcolm on (071) 9146815 or Email sales@synergynet.ie

 

Payroll – say goodbye to Quickpay

Are still using Sage Quickpay payroll software?

Quickpay payroll software will not be updated to operate payrolls for 2019, nor will it be supported by Sage.

Therefore, you will not be able to use it when the new PAYE modernisation changes come in early next year. For example, every time an employer runs their payroll, they will be required under law to report pay and deductions for each employee.  Your payroll package needs to deal with these requirements. Read more about PAYE Modernisation here.

The time is now to change from the old Sage Quickpay over to the new Sage Payroll (formerly Micropay). Quickpay customers are entitled to the new package free of charge until the renewal of their contract.

Convert your Quickpay Data

There is a handy Import Quickpay Data Utility within the new software that allows you to bring in your old Quickpay data.

Here is a video to see it in action:

 

List of employees to ROS (required for PAYE Modernisation)

Revenue requires all employers to send a list of employees through Revenue’s Online Service (ROS). It is recommended to send it as soon as possible. This will ensure that both your records and theirs are accurate and up to date.

The list must include:

  • employees who are currently in your employment (including directors)
  • employees on long term leave such as maternity leave or sick leave
  • pensioners in receipt of payments from you
  • seasonal or temporary employees for whom you have not completed a P45
  • employees on a career break for whom you have not issued a P45
  • employees for whom you have received PAYE Exclusion Order.

Do not include employees who are on a career break and have been issued a P45.

Create employee list in Sage Payroll

Once you are set up in your new Sage Payroll, the list of employees can be created in the program to be sent to ROS. Click on Other Reports > Company tab > Employee list to ROS.

See how to generate and send the employee list in this video:

 

If you want to know about Sage Payroll or you would like us to take care of your Payroll data conversion to be ready for 2019 PAYE Changes:

Call Malcolm on 071 9146815 or sales@synegrynet.ie

 

Exact Partner Day

Exact Partner Day

Exact Partner Day

Our Managing Director James was delighted to present Synergy Network’s Direct Debit App. for Exact Online at the recent Exact Partner Day in Sutton Coldfield.

Exact Partner Day

 

If you would like to learn more about the DD Collector for Exact Online, please contact James on (071) 9146815 or email jdoyle@synergynet.ie

Undo Bank Reconciliation – Sage 50c Accounts

Need to undo a bank reconciliation? Perhaps you have made an error and need to unreconcile. There are two ways to do this.

Restore a backup for whole reconciliation

Firstly, you can restore a backup which was taken before reconciling. This is best if you want to undo the whole bank reconciliation. Be aware that you will lose any other work you have saved since that backup.

 

Undo specific transactions

Secondly, if you only wish to unreconcile specific transactions you can unflag them.

Go to Transactions and select the relevant one. Highlight the transaction, click Edit and untick the Bank rec. box and Save. When you return to the transactions page, you should see ‘N’ to indicate that the transaction is not reconciled.

Repeat the same steps if you have other transactions to unreconcile.

 

Watch this video to see how:

 

For More information on Sage 50c Accounts v24

Call Malcolm on (071) 9146815 or Email sales@synergynet.ie

Colour settings in Sage 50c Accounts

It can be difficult to read a lot of information on your screen at once. In Sage 50c Accounts, it’s possible to apply colours to give your ledgers a striped effect. This makes it easier to view the data on screen.

It’s not a new feature, but a very useful one. You can choose different colours for each ledger. The colour settings are specific to your PC so if you are on a Multi-User package, your settings won’t affect other Users.

Simply open Sage 50c Accounts, go to Tools > Options and click on the Colours tab. Lighter shades are generally easier to view.

Watch this video to see how:

For More information on Sage 50c Accounts v24

Call Malcolm on (071) 9146815 or Email sales@synergynet.ie

 

Annual VAT Return of Trading Details (RTD)

Importance of filing Annual VAT RTD

All registered VAT traders are required by Regulation 24(1) of the VAT Regulations 2010 to submit an annual Return of Trader Details (VAT RTD) Form. It has recently been brought to our attention that Revenue Tax Clearance Certificates are not being issued as a result of non- filing of these returns. This can severely impact cash flow where public funded organisations require tax clearance certificates.

Non-compliance

At present, when a customer files a claim for repayment/refund of tax under any taxhead, a check for outstanding Returns for that customer is automatically initiated in the Revenue system. Repayments/refunds may be automatically withheld if the customer is found to be non-compliant. From mid- 2014, this automated compliance check will also incorporate an additional check for outstanding VAT Return of Trader Details.

To see how the Annual RTD in Sage 50 is reported, please read the article in our Knowledge Base here.

Exact Online now hosted in Ireland

Data and services hosted in IrelandExact Online

Exact Online is now hosted in Ireland, since June this Summer (2018). Amazon Web Services now hosts all data and services related to the platform.

 

What does it mean?

Hosting data and services related to Exact Online in Ireland offers better security options like the encryption of data exchanges via REST API. It also ensures that data remains in the EU after Brexit.

For companies using ExactOnline in Ireland, they have the added reassurance that their data is also hosted and stored in Ireland.

 

Contact James today jdoyle@synergynet.ie to learn about the benefits Exact Online can bring to your business.