Sage bookkeeping software is a highly useful tool for businesses where a traditional manual cashbook is insufficient. Once businesses grow past a certain size, writing each invoice into a cashbook or simply keeping a large pile of invoices ready for the end of the tax year becomes impractical.
Sage allows the user to enter sales and purchase invoices, receipts and payments into the software, and automatically calculates the VAT applicable. Invoices can be entered on a batch basis to save time, as well as allowing standing orders to be input to take place each month, for example.
As the VAT is automatically calculated, Sage can be used to generate your business’s VAT returns on the computer, ready to be easily submitted online to HMRC.
Sage allows the use of separate customer accounts, where invoices can be posted when raised. Through examining the activity in these accounts, it is simple to view which customers owe money and how much, so that overdue accounts can be highlighted and chased.
Sage software allows the generation of various useful reports relating to different aspects of the business. A profit and loss report can also be generated, either monthly, covering the year to date or at the end of the year. These reports show the profitability of the business, as well as detailed breakdown of expenses, highlighting what outgoings relate to and areas where savings may be made.
Sage is also useful when it comes to preparing your business accounts at the year end. If Sage software is used correctly, this is very useful to accountants, and may mean that your accounts may be completed more quickly and easily, and hence may save your business money on accountancy.
Green & Co are proud to be one of only a handful of Sage Accounting Partners in Wales, meaning that we employ experienced staff who can offer help and advice when it comes to using Sage, or one of our bookkeeping staff can keep Sage up to date on behalf of your business. We are also able to purchase Sage software at discounted prices, and pass this discount on to our clients. If you would like to find out more about any of these services, please contact us.