Sage 50Cloud: LaneSystems Approved Re-sellers!Posted By: Helen Friday 30th November 2018Tags: accountants, acounting, business, Business Development, sage, sage 50cloud, sage accounting
Here at LaneSystems we have some great news to share with all of our readers. We have very recently become approved resellers of the exceptional Sage 50cloud. Today’s article investigates the concept, explains what it is and how the benefits of the software or your business. Keen to learn a little more? Please, read on…..
Let’s start right at the beginning. We would like to ask if you are currently using Sage for accountancy needs? If yes, GREAT! If not, why not? 54% of UK companies are already experiencing positive outcomes. Surely you would like the same for your business? Knowledge of your finances is a necessity. When managed correctly you will be able to sleep soundly at night.
What are the benefits of using Sage?
Where do we start? There are so many benefits attached to this software. We have listed the most poignant, below:
- Highly Secure
- Easy to Access
- Cost Effective
- 24/7 Support
- Automatic Backups
At LaneSystems we have a team of specialists, all complete with the knowledge to install and manage Sage 50cloud software. We will ensure security is at its peak. Access will always be available and the cost doesn’t break the bank. With this software you have less paper to shuffle, support is always available and everything is backed up correctly. With many of our clients already using Sage 50cloud it’s the next logical step for LaneSystems to offer this as a direct service.
Why should I switch from paperless to online?
Let’s face it, we all have to move with the times and if we go ahead and embrace the change we soon realise how much easier technology does indeed make things. Especially when it comes to accounts!
Declared by the government in 2015, a new initiative was launched to digitise tax in the United Kingdom and is known as MTD or Making Tax Digital. As technology continues to rapidly develop, companies are doing most things online. By interacting digitally and directly with HMRC, businesses can keep on top of their tax affairs with ease. As it stands, this is not a requirement but come April 2019, if your company is responsible for submitting VAT returns then all of this will need to be completed online only. This rule applies to all companies at the threshold of 85k. All VAT returns will have to be filed using commercial software with digital transaction records required. As of April next year manual submissions will NO LONGER BE ACCEPTED. By 2020 the same rules will apply to all business across ALL taxes no matter the turnover.
Start simply by asking yourself ‘will I be affected by this change’? Whilst you may be under the £85,000 VAT threshold now, could your turnover potentially meet this number over the next twelve months? If the answer is yes, then you need to begin planning for this eventuality straight away.
So what happens if you are currently using software that is not MTD-ready? There really is only one solution and that’s turning to software such as Sage 50cloud. This is fully compliant and we will cover this in more detail shortly. First of all, let’s look a bit deeper into MTD.
How can you get your business MTD ready?
Step 1: Ok, so as already mentioned, it is important to assess how close you are to the VAT threshold. Should it be determined you’re near, it’s then important to get all your business details together. Make sure you’re aware of the VAT return frequency, your year end date and have projected turnover numbers for the next year close to hand.
Step 2: Review. You currently have the option to join the pilot scheme. You will automatically be updated to the new version as it’s rolled out come April 2019. It’s important to establish the best time for your company to switch over. It needs to cause the least amount of fuss as possible.
Step 3: Review VAT Process. Approach your accountant and business partners. Speak to our experts, here, at LaneSystems for advice and guidance.
Step 4: If possible, adopt the new requirement as early as is feasible. You will have time to adapt to the new methods and come April will be fully au fait with what’s required.
Sage 50cloud can help bridge the gap between how you currently manage accounts and MTD. But what exactly is it and what does it involve? Quite simply, Sage 50cloud helps to run a business more efficiently and smoothly. Manage and send invoices, keep an eye on cash-flow, view an inventory and investigate payments. When coupled with Microsoft Office 365, this software has the power and offers everything required in terms of productivity. Available with cloud-connected features, businesses have the ability to work from anywhere across every device.
What are the benefits of Sage 50cloud?
- Use across all devices
- Sage drive is free of charge if you & your accountant use this product
- Up to date info
- Work on documents at the same time
- Time saving
- Increased productivity
- Real time view of business finances
- Support as and when required
Sage 50cloud offers solutions to valid problems:
I don’t want to be tied to my desk all day, help!
You don’t have to be! Simply sync data with Microsoft Office 365. From here documents can be used collaboratively using OneDrive across any device.
My company works outside of the regular 9-5 hours, what can we do?
Don’t worry, that’s what! With Sage Cloud50 you can work wherever you desire at any time you need to.
I like to remain in control of my finances, will this software allow me to do so?
Yes, it absolutely will! The beauty of Sage Intelligence is the fact you’re offered a wonderful dashboard with access to up-to-date reports, graphs and other helpful tools.
I need the facility to share data? What if I can’t?
Oh but you can. Use OneDRive to securely upload files to share with anyone.
Manual data entry is far too time consuming. Who can help me with this?
Sage Cloud50 can! Set up and use direct bank feed rules. These will automatically create transactions within the software and you have the option of flagging as bank reconciled.
Paper copies are driving me mad! Can I store them somewhere?
It’s the Cloud remember. This means your data will forever be available making paperless the future.
How would you like you learn about some of the customised features?
Cashflow & Invoicing
This software allows you to see any outstanding payments owed in real time. You have the ability to send branded/personalised quotes and invoices, manage any late payments and schedule payments to suppliers.
Calculate & Submit VAT Returns Online
By using this software you will automatically be armed and ready for MTD. It’s easy to file accurate tax returns.
Remain in Control of Stock & Inventory
By filing your tax returns this way you will only ever pay back what you owe and not a penny more.
Fix Errors Whilst Everyone is Logged in
It doesn’t matter how many people are logged into the account. Errors can be edited at any point.
Create Powerful Financial Reports
Sage 50cloud has a Report Designer feature. This will present you with great looking reports that contain all of the information required to run the financial elements of your company. Reports can be set up by you or an accountant.
Get up-to-date Information from your Bank
A direct feed with your bank from this software allows rules created to automatically create transactions in Sage 50cloud. This is a huge time saving option for everyone involved.
Get Paid on time!
Collect payments the easy way with GoCardless from Sage.
Secure, Online Payments
A second level of validation is offered across all outgoing payments. Added peace of mind keeping your finances fully secure at all times.
Take Payments Straight from your Invoice
Yes! You read that correctly! With Sage 50cloud you have the option to add a ‘pay now’ button. Customers can simply click on this button, make their payment and it’s job done!
Sage 50cloud is available to make the management of business finances a truly flawless and simplistic procedure. LaneSystems will fully install this for you and offer guidance on use. Get in touch with our specialists now, to discuss this further.