Disclaimer: Please note this article is not financial advice. The purpose of our blog is purely educational, so please consult a professional accountant or financial advisor before making any financial decision.
Whether small or big, many businesses need to manage their books effectively to maximize their profits and sales. It is only natural that business owners should rely on technology to make their lives easier.
Sage Group paved the way for Sage ContaPlus in the early 1980s. This software gradually evolved into the reliable accounting software we know today—Sage.
What are the key features of Sage 50? What are its pros and cons? Is it worth buying? Learn more about Sage 50 right now.
What is Sage 50 Accounting Software?
This is the first-ever software dedicated to accounting processing by Sage Group. Launched in Europe, Sage 50 is now available in different countries across the globe, including America and Canada.
With its comprehensive and customizable features, this software has endless capabilities to optimize your bookkeeping.
Being a browser-based software, Sage 50 allows you to access your account anytime and anywhere as long as you have access to the Internet. In addition, you can save your Sage accounts and files to the Cloud.
But why 50? Because there are more versions of Sage, which will be explained next.
Sage 1 to 300?
All of them are under Sage UK. All of them are designed for the main purpose of managing your books. The differences are their scalability, features, and target market.
Sage 1 is suitable for very small businesses like startups or sole traders. Despite not having complex accounting processes, it has all the features necessary to start your little business, such as creating invoices, calculating and submitting VAT, and tracking payments.
Of course, it is given that it is more affordable compared to the two. Plus, you can choose between three versions—Start, Standard, and Plus—giving you more features and users for each plan tier.
Next, we have Sage 200. Sage 200 is marketed towards medium to large enterprises because of its advanced and powerful features, including billing, projections, and data analysis tools.
Lastly, Sage 50 has more features for small to medium-sized businesses, giving them far more flexibility and reach than Sage 1 can provide.
Recently, Sage 50 upgraded to Sage 50Cloud with newer and more features. But what about Sage 50? Will it become obsolete? Don’t worry if you’ve already invested in the program. It will continue to run as-is.
There are even more versions like Sage 100 and 300, but the differences still lie with their functionality and features. They are designed for larger businesses like needing inventory management and payroll processing. Sage designed them for construction and real estate.
What are Sage 50’s Features?
As we mentioned earlier, Sage 50 is very comprehensive and full of cool features designed to manage your business in every way. Here are the features of Sage 50:
- Cash flow and invoicing: Easily and quickly see the money you are owed.
- Payments and banking: Connect to your bank and make payments with automatic reconciliation. No more manual data entry, and fewer mistakes.
- Inventory management: An advanced tool to check what’s in stock and on order. The perfect way to stay on top of inventory and purchase orders.
- Labor costing: Gives the convenience of setting up job records for your employees.
- Payroll: Automatic tax calculations to simplify your payments to your employees.
- Reporting: Provides data with just one-click access to see your overall business and make financial decisions.
Sage 50Cloud, on the other hand, has more integrations, better security, and remote accessibility thanks to Sage Drive and Office 365. In short, you can work smarter with Sage 50’s newer version.
But, of course, if you’re old school and don’t know how to use the Cloud, then stick with Sage 50.
What are the Pros and Cons of Sage 50?
Telling you the features of Sage 50 was also informing you of the benefits of Sage 50 accounting software.
Veteran accountants understand that one of the biggest selling points of Sage is their transparency and advanced accounting tools.
But let’s take a look at the advantages and disadvantages of Sage 50 accounting software:
|Secured and organized reporting and payroll processing. You can check income and cash flows from the previous year.||Learning curve. You may need a professional or some training to install and use it properly.|
|Great HR services and data collection from customers, sellers, and employees.||Not user-friendly. Dashboard and home pages are cluttered and can be confusing.|
|Detailed inventory management—helps you with the FIFO method.|
Sure, it could be better if you give your business an upgrade with Sage 50Cloud. But if Sage 50 is correctly set up, we’re sure it can serve your business needs adequately.
Bottom Line: Is Sage 50 Worth It?
Sage 50 is a very sound accounting software package that can help you create better decisions with your financials and administrative choices. It increases your efficiency in accounting, reporting, and financial activities.
Alternatives are always there if Sage 50 doesn’t fit the bill. You can check the best accounting software for small businesses right here.
Made for growing businesses, Sage 50 will perform perfectly, especially with its newer version. Despite its expense and the learning curve, if you have the foresight to look into expansion, investing in Sage 50 is worth it.
Need accounting experts to help you set up your business? Get assistance from Unloop right away!