The Sage accountancy software packages are used widely across businesses in all sectors, from small start-ups to well-established corporations.
Whether you’re looking at accounting options for your own business, or you’re aiming to go into a role that involves computerised accounting, a working knowledge of the UK’s most popular accounting software is essential.
Here are five reasons you should learn how to use Sage as soon as possible.
1. Manage your day-to-day finances
Businesses need to be able to identify the source of income, determine outgoings, and then see exactly how much they are bringing in and paying out.
Sage allows you to make cash flow projections for periods of time in advance, making budgeting simpler. It enables you to make forecasts that can be used as the basis of a business plan, and to track performance against this plan. This is invaluable, as it allows you to identify any issues which arise early on, and make arrangements for known expenses before funds are needed.
2 . Invoice customers easily
Using Sage, orders can be processed and tracked, and invoices produced from data already compiled. This creates an efficient invoice process that saves your time and improves customer service.
3. Keep track of bank accounts
Keeping track of bank accounts is important for any business to do, as it means that you can see how much is in each specific account, ensuring that you have enough in each to make relevant payments.
Sage allows you to see when any payments are made to the business, helping to ensure that you are being paid the correct amount and to the correct account, within agreed time periods.
4. See who owes you money
Being able to see when payments have been made, and if any payments are outstanding, is vital for any company. It ensures that any products you are sending out, or services being provided, are being paid for on time.
The ability to view pending payments allows you to follow accounts closely, ensuring you stay in credit, and avoid unnecessary losses.
5. Run profit and loss reports
Sage allows you to see your business’s overall financial performance – how your profits balance against your losses, how you can make up any losses, and how your performance compares with the original plans you put in place.
This enables you to alter future predictions based on changing circumstances, and means that you can better prepare for upcoming periods, and write more precise reports regarding periods passed.
To learn how to use Sage to keep your business accounts on track and working efficiently, ask about our AAT level 2 Foundation Certificate course, which you can study at your own pace through distance learning, with full tutor support.