AccountingEnterprise

Sage 50cloud Review: Best Accounting Software 2020

Sage 50cloud Review: Best Accounting Software 2020

Sage 50cloud is a massive small business accounting application that’s designed for desktop use.

Sage’s accounting software is a computer program that addresses and helps with accounting processes. Ideally, the program should generate reports and transaction histories, track expenses and of course, in this day and age of online fraud, provide encrypted security.

It is an exceptionally robust small business desktop accounting application, incorporating a comprehensive set of financial tools and generous customization options.

Over the years, Sage 50cloud’s name has changed from Peachtree to Sage 50 to Sage 50c to the Sage50cloud we know today. The one thing that hasn’t changed is this accounting software’s advanced feature set and strong reputation.

Sage is one of the few big names in the accounting world and with its expertise and longevity, has been around since the 1980’s. In 1988, the company acquired Peachtree which allowed it to move into the US market. Since then, the company has launched dozens of other Sage products and continuously updates Sage 50cloud which offers unique features such as taxes, inventory, budgeting, cash flow, and invoicing. Plus, you get a wide range of add-ons for credit card processing, payroll, and more which helps organizations keep track of their finances.

What’s also unique about the platform is Its new integration with Microsoft Office 365, which makes it a hybrid solution: local, hard drive-based software that has data access and storage with productivity applications via the cloud. The software can be used to track purchases and vendors and pay bills. It likewise has expense management features that include mobile payment and bank feeds. The product is capable of connecting to your bank accounts, allowing for real time recording of sales and receipts, track receivables, transfer funds, reconcile bank accounts and make deposits. You are also given access to financial reports from any online device.

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Companies can use Sage 50cloud’s visual dashboards to keep track of their business by providing views on important budget and revenue trends, and by highlighting main performance areas. You can easily handle customer contacts and create invoices, sales orders, and quotes directly, which makes it a very useful tool for start-up companies.

Sage 50Cloud Products and Pricing

There are three main US products:

Pro Accounting

  • $46.83/month
  • Contact management
  • Expense tracking
  • Invoices & estimates
  • Accounts payable
  • Inventory
  • Live bank feeds
  • Reports
  • 1 user

Premium Accounting

  • $72.41/month
  • Contact management
  • Expense tracking
  • Invoices & estimates
  • Accounts payable
  • Inventory
  • Time tracking
  • Project management
  • Job costing
  • Advanced budgeting
  • Serialized inventory
  • Reports
  • Up to 5 users

Quantum Accounting

  • $182.91/month
  • Contact management
  • Expense tracking
  • Invoices & estimates
  • Accounts payable
  • Inventory
  • Time tracking
  • Project management
  • Job costing
  • Advanced budgeting
  • Serialized inventory
  • Personalized dashboards
  • Reports
  • Industry-specific features
  • Up to 40 users.

Extra Costs

There are several extra costs to be aware of before purchasing Sage 50cloud.

Additional Users: Additional users cost extra. Go to Sage 50cloud’s pricing page and enter your desired number of users to see how much your subscription will cost.

Sage Payroll: You can add sage’s payroll service. Contact the company directly for pricing details.

Paya (Formerly Sage Payment Solutions): Sage’s payment gateway allows you to accept payments online. Sage does not disclose any rates or pricing information (although in the past the transaction fee was quite high).

Sage Payment Management System:The Sage payment management system takes Sage payments to the next level with electronic checks, gift cards, loyalty programs, and more. Contact Sage directly for pricing and details.

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Microsoft Office: You can add Microsoft Office 365 to any plan for $150/year.

Checks: You can purchase and print checks through Sage 50cloud. Visit the company’s website to view all check products and pricing details.

Additionally, Sage 50 is the UK’s favourite accounting software. The perfect fit for over 400,000 UK Business, providing great functionality at reasonable pricing. Sage 50 is also broken into three versions of the product: Essentials, Standard & Professional.

Sage 50Cloud Products and Pricing

There are three main UK products:

Essentials

  • £25/month
  • Manage cash flow, income, expenses and payments
  • Connect to your bank account
  • Manage VAT & submit online returns to HMRC
  • Powerful reporting and dashboard
  • Secure cloud access and backup
  • Office 365 integration
  • Mobile apps
  • Connected Users.

Standard

  • £65/ month
  • Free 30-day trial
  • Manage cash flow, income, expenses and payments
  • Connect to your bank account
  • Manage VAT & submit online returns to HMRC
  • Powerful reporting and dashboard
  • Secure cloud access and backup
  • Office 365 integration
  • Mobile apps
  • Connected Users.
  • Track and manage stock
  • Manage multiple departments and budgets.

Professional

  • £132/month
  • Free 30-day trial
  • Manage cash flow, income, expenses and payments
  • Connect to your bank account
  • Manage VAT & submit online returns to HMRC
  • Powerful reporting and dashboard
  • Secure cloud access and backup
  • Office 365 integration
  • Mobile apps
  • Connected Users.
  • Track and manage stock
  • Manage multiple departments and budgets.
  • Track Project income, expenses and profit
  • Create sales and purchase orders
  • Trade in multiple currencies.

The most popular choice is Sage 50 Standard, costing just £65 per month and offers stock management and departmental analysis. Although, the three different pricing packages which will fit any small business type, it is also best suited to the following:

  • Essentials are perfect for small businesses using single accounts.
  • Standard is ideal if you need to manage up to 10 companies and have more than one user.
  • Professional is perfect for growing businesses that need a multi-user system with the ability to manage multiple companies.
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Sage 50cloud Offers Your Company a Lot

The flexibility of the software means that you can do much on the go, from tracking vendors to billing clients to have real-time access to the accounts, regardless if you are using a phone, tablet or laptop.

Also, the built-in accounting best practices, help businesses maintain their compliance. One of the biggest benefits of accounting software is that the reports and histories are “in-house” and therefore, easy to access and to save.

The importance of having accessible, clear and accurate reports cannot be overstated. Whether for taxes, audits or legalities, the financial history of a business is a necessity and can save many headaches and heartaches in the future.

Final Verdict

For accountants or businesses needing strong accounting and a serious degree of customizability, I can see the appeal of Sage 50cloud. With Sage Busines Cloud Accounting you get all of the full-featured complexity of a locally-installed software without having to give up the mobility of cloud software. This idea is golden; and quite frankly, very indispensable.

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