What you should know about the Sage 50 Premium Accounting Software:
Sage 50 Premium offers additional features and functionalities to the Pro version especially in inventory management and user experiences.
General Ledger, Accounts Receivable, Accounts Payable, Bank Reconciliation, Inventory, Sales Order, Purchase Order, Payroll, Job Cost. Sage 50 Intelligence Reporting is included with a Business Care subscription.
- Multi-User – Sage 50 Premium allows up to 5 users to access the same company file so that businesses can save time on data entry.
- Security – You can also set access level on the Premium for control purposes. These levels maybe None, View Only, Add, Edit, or Full.
- Open Multiple Companies – You can open and run as many companies as you want. When you open additional companies after the first company, some features will be restricted.
- Manage your customer – This is an easy to understand screen that gives you easy access to your customer data. There are 19 areas of information that you can show, hide, or rearrange to fit your needs. Examples include Aged Receivables, Contacts, Sales Orders, Invoices, Item Sales History, and Top Customers over the last 12 months.
- Proposals – similar in concept to a quote. But after marking it as accepted, you have the option of invoicing the entire proposal, a percentage of the proposal, or a different percentage of each line of the proposal. You can continue to make invoices from the proposal until it has been fully billed.
- Broadcast Invoicing – sends the same invoice to as many customers as you need. Perfect for sending bills for dues or service contracts when many or all customers pay the same amount.
- Stronger Job Costing – Jobs can be divided into phases and phases can be broken down in to cost codes for more detailed job reporting.
- Change Order Processing – Lets you print or email a document detailing the changes to a job’s estimate and showing the net change to the total estimate or contract amount and projected completion date. From the same data entry screen, you can record acceptance of the change order and apply the changes to the job’s estimated quantities, expenses, and revenues.
- Inventory & Services Management Center – Quickly shows your status and transactions for a selected inventory item (stock or non-stock). It is customizable with 22 different modules including, Sales Invoices, Purchases, Inventory Adjustment, and Sales Backorders. It can also be set up to show build and unbuild transactions for assembly items, as well as the bill of materials. And for any item, you can see a list of assemblies that use it as a component.
- Serialized Inventory – Expands the inventory capabilities to include inventory with serial numbers. Some programs call this specific unit inventory.
- Pricing Formulas – Formulas can be set up by price level for inventory items to streamline the process of recalculating prices. This allows you to recalculate prices for all or part of your inventory with just a few clicks; it does not mean that prices will automatically adjust any time your cost changes.
- Master and Sub-stock Items – Automates the process of creating related inventory items with up to 2 attributes, such as a shirt that comes in different sizes and colours.
- Item History By Customer – is a customizable list that will show sales of all items or a selected item. It can be sorted by any column in the list, including item, customer, or date. You can double click entries to view the original transaction. You can also print the list, email it, or send it to Excel.
- Select For Purchase Order – lets you select all or a range of inventory items for Sage 50 to evaluate and generate purchase orders based on inventory levels.
- Vendor Part Numbers – Adds an extra field to the Maintain Inventory Items screen so that you can track your vendor’s part number for each item. When printing inventory reports, purchase orders, quotes, sales orders, invoices, credit memos, receipts or payments, you have the option of printing the vendor part number in place of your item ID.
- Vendor Management Center– is a customizable screen that gives you easy access to your vendor data. There are 14 modules that you can show, hide, or rearrange to fit your needs including Aged Payables, Item Purchase History, Payments, and Purchases/Inventory Received.
- Time and Expense Tickets – In addition to feeding payroll, time tickets can also be used to bill clients for time. Expense tickets make it easy to bill for miscellaneous items such as photocopies that might otherwise be forgotten.
- Multiple Budgets – Pro allows you to enter a budget. But in Premium you can save multiple versions of your budget to so you can easily compare different scenarios when forecasting.
- Consolidations – allows you to consolidate multiple companies into a separate parent company for combined financial statement reporting.
- Departmental Financial Statements – makes producing financial statements by departments easier. Sage 50 Pro can produce the same reports. But Premium gives you a method to enforce the proper account segments when creating GL accounts, and then adds an option to choose a department when printing financial statements. This shields the user from having to learn how to set up department masking in the financial statement designer and save separate report layouts for each department.
- Archive Company – Gives you the option of making an un-editable copy of your company’s data. This is normally used after all year-end entries are completed.
- Sage 50 Intelligence Reporting – turns Excel into a custom report writer for Sage 50. You design report templates in Excel and use Sage 50 Intelligence to supply the raw Sage 50 data to feed your report. Several pre-built reports come with Sage 50 Intelligence Reporting including Sales Analysis, Purchases Analysis, Inventory Analysis, a Dashboard, and multiple balance sheet and income statement formats.