Sage: A Samera Review

The Samera Review: 5 Reasons to Consider Sage as Your Next Cloud Accounting Software

Finding the right accounting software for your business can be a tricky affair, for depends on so many things such as pricing, the volume of accounting and bookkeeping work, and most importantly the scale of your business. If yours is a growing small or medium healthcare business such as a medical practice, dental practice, or pharmacy that operates at one or more locations, you know how important and simultaneously challenging it could be to keep your books up to date and keep track of cash flows along with complying with tax liabilities.

This is exactly where the need to be equipped with effective accounting software comes in. And while you are scouting for one, as a business owner you need to look out for not just the software’s cost-efficiency, but also accessibility and scalability, so it does not come in the way of your business’s expansion and continuity plans. One key software that can help you achieve all that and more is the Sage accounting software.

In this blog, we will be running down the distinct features and benefits of Sage and how it can help your medical business develop strong accounting fundamentals.

At a Glance: Sage Accounting Software

Sage Accounting is a cloud-based accounting program for small businesses. Sage Accounting provides necessary bookkeeping and accounting functions, thorough reporting, and inventory management with a range of cost-effective options to select from. Due to the way Sage accounting software enables and simplifies a wide range of accounting processes, enabling accountants and bookkeepers to perform more quickly and precisely, it has become the industry standard. Sage software is useful for handling both simple tasks and sophisticated financial processes.

Sage can assist you in managing your income and spending, and it will let you create professional, customizable invoices for your clients. Since it is a cloud-based service, you can readily access it and use it from any location. Sage also makes it simple to reconcile your bank accounts, and there are no restrictions on the number of transactions you make. Further, Sage also saves you a tonne of time and effort by automatically calculating and submitting VAT returns to HMRC in a safe manner.

5 Sage Accounting Features to Streamline Your Bookkeeping

Easy Payroll Management

For any accountant, handling the payroll for a business with numerous staff members is a challenging process. Sage 50, however, complies with current salary and pension regulations. Also, your company can use the integrated payroll feature to pay employees, track earnings, and file taxes.

Sage ensures that errors are minimised and time is freed up for core-business activities thanks to seamless automation between the Payroll and Accounting department. Automate your payroll procedure, schedule recurring payments, and import more information from bank flows into accounting. Sage If no change in compensation is recorded, payroll runs the payroll at the right amounts for the subsequent payment periods. Salary amounts are automatically calculated by payroll. With Sage Accounting on your payroll and accounting teams’ side, they can now compute numerous transactions— medical, bonus, pension, leave pay, and benefits—with the least amount of effort.

End-to-End Reportability

Maintaining paper records and complex spreadsheets is a thing of the past. Cloud-based accounting software such as Sage have made accounting and bookkeeping more intelligible and aesthetic, thanks to their unique reporting capabilities. Beyond the fundamental financial statements, Sage provides key reporting tools, including profit and loss statement, cash flow statement, general ledger, etc. You can create a chart of accounts, sales tax reports, over a thousand vendor reports, and accounts receivable ageing reports with their entry-level Sage Start plan.

With profit analyses, cash flow estimates, AP ageing reports, and stock movements, high-end plans like the Sage Accounting Plan help you unlock the next level in reporting for accounting. Microbusinesses and sole traders looking for a platform to manage their finances can surely give Sage Accounting a go, for it enables small and medium business owners to manage invoices, maintain inventory, and track income and expenses across several currencies, along with a host of other accounting functionalities.

Simple Inventory Management

One of the best features of Sage is the inventory management feature. Improper inventory management can lead to losing out on business to competitors, and consequently, customer churn outs. For organisations that sell products, inventory tracking in an accounting software can be particularly helpful. However, not all accounting software alternatives present in the market today offer inventory management and those that do often only include it in their most high-end packages.

Users of Sage Accounting can closely monitor inventory levels and maintain a precise stock forecast based on sales orders. Businesses can even include any services or activities that they acquire and offer to clients, such as hardware maintenance or software updates. Sage allows you to add in new products, categorise them, and refresh their pricing. Effectively, this can help your team in keeping track of quantities, establishing stock reorder levels, getting alerts when products go out of stock, and creating reports on your top-performing items.

Automated Multi-Currency Payments

Accounts Receivable (A/R) and Accounts Payable (A/P) features in Sage accounting let you see how much you owe customers and suppliers, respectively. In order to ensure that your business’s cash flow is orderly, the automatic A/R software generates, transmits, and records invoices as well as payments. You will receive automatically generated reports detailing which clients you owe money to, the amount they owe you, the time from which they have owed you, and the dates the sales invoices are due.

Sage Accounting’s multi-currency capability, which enables you to issue invoices and process payments across international banks and currencies within a single system, makes it simple when serving clients from other countries. You could even classify the transactions you conducted in each nation, evaluate exchange rates, and modify your rates as necessary. The automatic Accounts Payable feature of the accounting software keeps you informed of what you owe, to whom you owe it, and when your payouts are due. Each supplier’s credit terms and restrictions may be managed, and pending payments can be organised into different categories so you don’t forget anything.

Enhanced Security and Data Recovery

Your business can be totally protected knowing that your sensitive financial data is secure thanks to Sage 50 Hosting’s outstanding compliance and security measures. If you select a cloud hosting company, all required safeguards will be put in place to secure your data, this would include third-party audits, firewalls, contemporary encryption measures, and data backup centres.

With Sage Accounting, you won’t need to be concerned about data loss because it is stored on numerous servers and regularly backed up for maximum protection. Also, you can be confident that the cloud is a secure location for your private financial data. Without making any further adjustments, cloud service providers offer automated data backup capabilities. Optimal data redundancy and security are ensured by routine backup on several pathways. In effect, the company’s financial information is safe and unharmed in any disaster or occurrence without using any other backup systems.

Conclusion

Sage Accounting’s cloud-based software includes a variety of functions required to maintain orderly firm finances and is ideal for small enterprises. An excellent option for companies that want basic accounting functions like bill monitoring and invoicing at a reasonable price. Sage enables you to access real-time bookkeeping, foreign currency conversion, invoicing management, and cost management.

Sage could prove to be a great alternative for a company accounting solution, despite its ordinary user interface. Since software is becoming increasingly necessary for businesses to be organized and operate efficiently, the above features show that Sage has the potential to provide your company access to some of the most important and in-demand accounting advantages. It may simplify things, while also removing mistakes and enhancing your company’s reputation.

Reviewed By:

Arun Mehra

Samera CEO

Arun, CEO of Samera, is an experienced accountant and dental practice owner. He specialises in accountancy, financial directorship, squat practices and practice management.