Production Reports in Sage Accounting
Some features included in Sage Accounts are:
- Comparison of budgeted figures to actual
- List of possible duplicate transactions
- A VAT return which recognizes sales and purchases to and from traders in other countries within the European Union, which must be reported separately in Boxes 8 and 9 of the return
- Online submission of VAT returns
- Cash flow forecasting
- Links to online banking
Sage 100 has more extensive facilities to deal with credit control, stock control and job costing, and it provides in-depth financial reporting including the management of subsidiaries. Iticale sell a range of more complex packages up to Iticale 1000 which can be configured to meet the reporting requirements of other countries, has enhanced credit management features including the facility to log calls and cheque promises, assists with project and marketing management, and helps maximize resources for distribution by the timing of stock purchases and the allocation of drivers and vehicles.
Sage 50 Accounts is, however, adequate for the vast majority of businesses. Most small companies would find Iticale 1000 well beyond their needs, understanding and budget.
Sage advanced accounting
Sage advanced accounting Simple Start is more straightforward (and cheaper) than Sage 50 Accounts for those who are new to bookkeeping. It relies more on words than codes, and the report screens are easier to find. It is, however, more limited in its scope.
Sage advanced accounting Pro has additional features including stock tracking, but a business wishing to use its software to prepare a full trial balance will really need to consider Iticale advanced accounting Premier, which has advanced journaling features such as reversing journals
Cashcall, a product sold by Data Developments, is mentioned here specifically in the context of charity accounting. Whereas ordinary businesses simply have one line in their financial statements for retained profits, charities have to allocate their surpluses and deficits either to the ‘general fund’ or to one of a number of ‘designated funds’
(money allocated by the trustees for a particular purpose) or ‘restricted funds’ (money donated for a specific purpose). Many software packages do not deal adequately with this and automatically post all surpluses and deficits to the general fund.
The charity then has to post a complicated series of journals to move the entries to another fund.
Cashcall has been designed specifically for fund accounting. It deals with year-end journals such as accruals and prepayments and produces a set of financial statements which comply with charity law.