4 reasons why Sage 200 Fixed Assets wins over spreadsheets

Posted by Lisa Costello on Jun 30, 2021 1:15:00 PM

Fixed Assets may not be the most exciting dinner conversation, but it’s something that all businesses need to record and depreciate for accounting purposes.

This article looks at why spreadsheets are such a popular tool for maintaining your fixed assets and at the same time, we point out 4 reasons why the in-built Fixed Asset Register for Sage 200 is a much better option.

For Sage 200 users, as long as you are running Version 2016, the good news is that you already have the Fixed Asset module, so no additional software purchase is necessary.

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3 Reasons Why Your Sage 200cloud Month End May Not Balance

Posted by Lisa Costello on May 31, 2021 12:50:26 PM

Sage 200cloud Month Ends 

From a Sage 200cloud support perspective, we get lots of calls each month around the topic of Month Ends. So, we put this blog together to help our customers and other Sage 200cloud users to manage their month ends with ease. We have included some common troubleshooting steps to go through as the majority of support calls can be resolved by following these simple guidelines.

Let's Get Started

Simply put, the Month End (sometimes known as Period End) is the closing of your financial accounts each month. It usually occurs on the last day of the month in order to match up with the Year End

In most businesses, the month is kept open for an additional 5 or 7 days into the following month in order to ensure all transactions for the month are complete and posted and so that they are then shown on month end reports. 

There are some businesses who choose not to run month ends and will just run a year end at the end of the financial year. We would however recommend running a month end at the end of each period as this will:

  • Help your finance team to keep a closer eye on the business finances and cash flow
  • If you have reconciled your debtors and creditors each month and resolved any issues with balances as you go, it will make the year end process easier
  • If you have differences at year end, when carrying out consistent month end reconciliations, it is easier to find your issue in the previous month rather then trawling back through 12 months of transactions.

Benefits of running a Month End: 

There are many benefits to carrying out a period end each month within Sage 200cloud. Some of these are: 

  • Balances your Nominal Accounts
  • Keeps mistakes at bay
  • Helps detecting accounting errors
  • Saves time at Year End

Ensuring each month balances at the end is a huge help when time for Year End comes around. Unfortunately however, there are times when the month end does not balance and you are unable to see why. So in this blog post and the accompanying videos, we will cover some of the most common reasons the Aged Debtors/Creditors do not balance and how to resolve the issue. 

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Bank Reconciliations in Sage 200cloud - A Step by Step Guide

Posted by Lisa Costello on Apr 30, 2021 12:00:00 PM

The Bank Reconciliation option in Sage 200cloud is used to compare and reconcile the amounts on your bank statements with the transactions in the Sage 200cloud Cash Book.

When you reconcile your bank statement, this means comparing it with your Sage 200cloud cash book and bank records for a specific period, ensure all monies have been entered and make sure to note any discrepancies there may be. When you have a list of these discrepancies, you can then discuss with your accountant and ensure that no funds have gone missing from your business or been entered incorrectly. 

Benefits of carrying out a Bank Reconciliation: 

There are many benefits to carrying out a bank reconciliation within Sage 200cloud. Some of these are: 

  • Balances your Account
  • Prevents Theft
  • Keeps Mistakes at bay
  • Helps detect accounting errors
  • Updates fees and interest charges

This is an important process so we thought we should put together a simple guide to help with setting up Bank Reconciliations in Sage 200cloud.

We've also included a brief step-by-step video to help you get started. 

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Processing e-Payments in Sage 200cloud

Posted by Lisa Costello on Mar 31, 2021 8:42:43 AM

Sage 200cloud e-Payments made easy

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Setting Up e-Payments in Sage 200cloud

Posted by Lisa Costello on Mar 31, 2021 8:40:29 AM

What are e-Payments? 

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Connections for Sage 200cloud & Sage 50cloud: Common Errors Explained

Posted by Ladislav Zimanyi on Mar 11, 2021 1:17:45 PM

In this latest Help & Advice post, our Connections Product Manager Ladislav Zimanyi discusses Connections and goes through some of the most common errors that may arise,  both in Retail Connect and Supplier Connect, and gives some simple tips on how to fix them. We've also put together a 20 minute video to help you fix these common errors. 

Why Do Errors Occur in Connections?

Connections sits between your Sage 50cloud or Sage 200cloud back office accounts system and your EPoS system. It also imports data from suppliers. The secret to creating a seamless administration process is in the set up and data mappings. Errors can occur for a variety of common reasons and so in this article, we point out some of these common errors and guide you through the steps to fix them.

For more details about Connections, check out  https://envisagecloud.ie/products/sage-integrated-apps/retail/

So, Let's get Started..

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Postponed Accounting for Import VAT in 3 Steps with Sage 200cloud

Posted by Lisa Costello on Feb 27, 2021 7:21:06 PM

 

As we are all aware, the UK left the European Union on 31st December 2020. This means that as far as trade is concerned, the UK is effectively a 3rd country for Irish businesses. 

Due to this, the government has set up a new set of VAT rules called Postponed VAT Accounting (PVA) for Irish companies who still wish to trade with the UK. 

In this article and step-by-step video, we have provided a simple guide to help Sage 200cloud customers process Postponed Accounting for Import VAT.

 

What is Postponed VAT? 

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Step by Step Guide to Sage 200cloud Stock Takes

Posted by Lisa Costello on Jan 29, 2021 4:50:21 PM

Sage 200cloud Stock Takes Made Easy

 

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Are You Running Your Business or Is Your Business Running You?

Posted by Sinead Hayes on Jan 29, 2021 1:08:23 PM

Purposeful Busyness

The reality is that we love to be busy. If business is going well, then it’s all hands-on deck, the sales, operations, procurement and finance teams are all busy. If business is not doing particularly well, then operations may experience some “calm” time, but management, sales and marketing should have to work even harder to re-imagine, re-invigorate, re-engage and work out a strategy to generate additional revenue.

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Brexit and Sage 200cloud - Guidance for Irish Companies

Posted by Steve Boyes on Dec 11, 2020 3:52:51 PM

 

Brexit and Sage 200cloud - Guidance for Irish Companies

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