By Sarah White, ACCA, Strategic Services Adviser.
Across the United Kingdom, Sage is the most popular accountancy package with over 800,000 British businesses using the software. For many it is a quick and easy way to record the financial transactions of your business. However, fewer people use it to help them understand their business. With the functionality at your fingertips why not investigate some of the detail and make Sage start working harder for you?
For those who do not have the time to prepare and maintain external budgets, Sage can do a good job of keeping track for you. For each nominal code you can enter a monthly budget or you can split an annual budget evenly.
Furthermore, maybe you want to keep track of how your spending compares with your budget? Run a report, draw up a graph or get Sage to calculate your variances.
This function runs your Fixed Asset Register within Sage, saving the hassle of maintaining one of those numerous excel spreadsheets we are all so fond of!
Each month Sage calculates depreciation and can post this for you with one click. Depreciation is often left to be adjusted at the end of the accounting year. Breaking the depreciation into monthly chunks to report more accurately the profit of your business could save this shock.
Are you keen to know how much your sales team spend compared to your manufacturers or the profitability of your latest contract? Do you also find yourself creating numerous spreadsheets by departmentalising your transactions? As you can see from the below snapshot, by using the Sage function you can add an extra level of reporting which allows you to group related transactions.
There are a number of other ways to optimise Sage and make your reporting quicker, easier and more relevant. If you think your Sage needs to smarten up and work harder then get do give Inspire a call.
As Sage partners we can also offer discounted rates on Sage products and support packages so please contact Sarah White on 01202 717867 or email@example.com
Disclaimer: The Sage information used in this article is Sage Demonstration data and in no way resembles the data for any client of Inspire Professional Services.