Sage 50 2011 features
On Monday, Tradebox received a preview of the new functionality in the next version of Sage 50, version 2011, which is due out in the next couple of months. There are a number of new features, one in particular that we think will prove useful to many online retailers. Here’s a quick synopsis:
Virtual Environment Support
Although a growing number of businesses use Sage Accounts on virtual environments, one large disadvantage with Sage 50 Accounts 2010 and below was that every user shared the same critical files. This meant it wasn’t possible to define settings for individual users. A new utility in Sage 50 2011 allows the network administrator the ability to provide each user, or machine, with their own levels of access.
Sage Services
A new navigation module has been created in the Sage 50 2011 stacked toolbar entitled ‘Sage Services’. Selecting this new module provides access, through the application, to a variety of online services and support options. For example, you can keep up-to-date with important information and late breaking news, access knowledgebase articles and much more. Sage 50 Accounts 2011 offers access to these online support services without the need to open a separate internet browser; although some of the information is free, for additional benefits and extra service Sage Cover/Subscription is required.
UK Flat Rate VAT Scheme
The introduction of the Flat Rate VAT Scheme in Sage 50 2011 is a long awaited feature that will allow businesses using this scheme to have their VAT liability accurately calculated and submitted.
The flat rate scheme was introduced to make calculating the VAT due to HMRC simple for new, small businesses. Under the scheme, VAT payable to HMRC is calculated by multiplying the gross turnover of the business by a fixed percentage, the value of which varies according to trade sector. The fixed percentage is normally lower than the standard VAT percentage.
Sage have also added a feature that measures the difference between the VAT paid under the users flat rate scheme and what the user would have paid if they were on standard or cash accounting VAT. This feature provides the ability for the user to decide whether staying on the scheme is still a benefit or whether it has become a cost.
The flat rate scheme is applicable to UK businesses only. For more information about this scheme, please refer to the HMRC guidance:
http://www.hmrc.gov.uk/vat/start/schemes/flat-rate.htm
Sage Pay integration
The most exciting change with the 2011 version of Sage 50 is the ability to import online orders, processed via Sage Pay, directly into Sage 50. This new function will allow the creation of customers and invoices and will match online items to Sage stock records assuming the product code within Sage Pay exactly matches the Sage Product Code.