My Honest Review of Sage 50cloud For Accounting

My Honest Review of Sage 50cloud For Accounting | Accounting Smarts
Charles Hall

Last updated by

Charles Hall

on

September 2, 2021

Small and medium-sized business owners looking to upgrade accounting software should consider Sage 50cloud for the many features it can offer.

Small and medium-sized business owners looking to upgrade accounting software should consider Sage 50cloud for the many features it can offer.

Sage 50cloud is one of the best available accounting software platforms for small and medium-sized businesses. They provide plenty of amazing features including a security suite of tools, integrations, and inventory management, unlike any other competitor. They serve the medium-sized business market well with pricing plans geared towards them.

Sage 50cloud ranked near the top of the accounting software market. However, it is not the top solution for extremely small businesses or freelancers because pricing is a bit higher and the best features are geared towards growing teams and bigger businesses.

Accounting software can completely change the way you run the operations of a business. By installing the right one within your company, your team will be more efficient and learn how to work smarter. Keep reading to see if Sage 50cloud is the best accounting software for your company.  

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What Is Sage 50cloud?

Sage 50cloud is an accounting software that helps small business owners and self-employed individuals track their finances. It offers an array of features that make it one of the best options in the entire accounting software industry like project tracking, quarterly taxes, invoicing, and much more. 

Sage 50cloud is an all-in-one accounting software that provides the ultimate experience for small businesses and entrepreneurs. With it, you get access to a wide range of features like budgeting, forecasting, invoicing, cash flow management, expense tracking, and more.

Similar to other options, Sage has an entire system of useful tools for business owners. Sage 50cloud is cloud-based to give users access to view critical information from anywhere and create a more collaborative environment within your business.

Sage 50cloud is a software that provides many features for accounting that business owners need to make sure they have to grow their business. By using it with other tools like CRM or payment services, these businesses will see a significant increase in productivity and efficiency.

This software provides full banking support, automatic transaction inputs, advanced inventory management, budgeting, and affordable pricing to allow you to scale with ease.

Sage 50cloud is an integrated accounting solution that is designed for small and medium businesses with more than one location to manage their finances properly. This easy-to-use software provides you with all the tools and information needed for your business success in a simple-to-navigate interface on any device.

Sage 50cloud Features

Sage 50cloud is a cloud-based software that makes bookkeeping simple and manageable. It helps you keep track of all your company’s finances, including sales, purchases, expenses, notes, income, payroll deductions, and more.

We have broken down some of the most critical features in detail below.

Advanced Inventory Management

The Sage 50cloud advanced inventory management feature has been designed for small and medium-sized companies. It takes care of the cost of the software as well as the technical requirements and makes it easy for businesses to manage their inventory in real-time.

This feature has been added to the software so that it is easier for companies to manage their inventory all in one place. It comes in handy when a company needs to quickly track inventory, monitor expenses, and streamline its entire supply chain processes with only a few clicks.

The advantage of this feature is that you can quickly find out where the latest purchase order went, where the product ended up, and how much was spent on each purchase order as well as on products ordered by each employee.

The inventory system consists of three primary parts. The sales account holds all item information. This information is then transferred to the entire inventory account for monitoring along with sales pricing and costs where you can analyze profitability in the cost of sales account.

Job Costing

Sage 50cloud has a complete range of business tools that are easy to use to perform more advanced functions to manage daily projects. The job costing tool is a perfect example of that.

The Sage 50cloud job costing feature makes it easier for small businesses to keep track of their cost of goods sold and expenses. You can also expect to get a much deeper look into your profitability on individual projects with advanced insights and strict tracking on all job spend.

Within the job costing tool, you can set up various codes, records, and phases that will isolate your metrics for more accurate reporting. Each phase of the job can be tracked too so you can pinpoint exactly where you need to improve.

Full Payroll

Sage 50cloud offers the entire payroll software suite that is needed for a successful business. It helps small- and medium-sized businesses manage their payrolls effectively and increase productivity.

The software also boasts features like automatic quarterly payrolls, custom reports, and automated tax calculations to make sure that businesses are always on track with their taxes and employees are always on track with their benefits.

The Payroll Setup Wizard is an intuitive tool included in the payroll feature that allows full customization and management over payroll tasks like vacation time, sick time, and much more.

Sage Security Shield

This is a feature unlike any competitor to provide customers with the ultimate security solution within their accounting software platform. The Sage Security Sheild is a way for Sage to give customers unique features.

The features include external fraud monitoring, internal fraud detection, a storage vault for information, and dedicated professionals handling any disputes that occur. Sage emphasized security and safety for all of its customers.

These are only a few of the key features the Security Shield offers. But you now operate on Sage 50cloud with peace of mind knowing the level of security that is in place within your account.  

Full Integration Suite

Sage 50cloud was designed with the needs of small business owners in mind. It offers an easy-to-use interface so that entrepreneurs have to worry less about how to use it and more about what they want their company to do.

This program offers budding entrepreneurs valuable features that will help them run their business smoothly. For example, it has automated integration functions which saves time by allowing you to connect all of your major tools in a single place.

Why Is Sage 50cloud Good For Accounting?

Sage 50cloud is one of the fastest-growing cloud-based accounting services in the world, helping businesses make sense of their financial data without spending too much time on it. This software helps small businesses stay competitive by providing tools like mobile apps, analytics, invoices, receipts, and more.

Sage 50cloud will help you with the accounting process by giving you the ability to do your tasks at a faster rate. It takes off the burden of doing tedious calculations and saves you time on manual accounting.

Another reason is that Sage 50cloud can be integrated easily with critical tools for payroll and other necessary business operations. Sage 50cloud has a diverse feature set that is easy for firms to integrate into their current accounting platform and will help them improve their efficiency in getting tasks completed quickly.

Sage 50cloud also has some other features like automated payments for recurring bills as well as an invoice fulfillment service so that you never have to worry about sending your customers an invoice again.

Sage 50cloud has an intuitive user interface, which makes accounting a more efficient process for users. The software offers customized reports and email notifications to alert users of new financial data making it one of the best overall solutions for small business owners looking to add more to their accounting suite.

When you are using a cloud-based accounting software, it is easy to migrate from one platform to the other without any hassles. That’s because the platforms are accessible online and come with an easy-to-use interface.

The advantage of Sage 50cloud is that it comes with an automatic payroll system which makes your employees efficient and cost-effective while also improving your cash flow. It also offers a multiple currency program that lets you manage all your financial transactions in different currencies easily.

Sage 50cloud Plans and Pricing

Sage 50cloud offers three distinct pricing plans with features tailored to serve different sized businesses looking for the perfect plan to suit their business. Pricing is a bit high when compared to other cloud-based competitors like QuickBooks, but the features they provide are more advanced for larger businesses.

The features get more advanced based on the size of your team and the scope of each project you consistently handle. Determining the best plan for you depends entirely on your business needs.  

Pro Accounting

  • $56.08/mo per user
  • Add Microsoft 365 for $150/year
  • Revenue and expense management
  • Job costing
  • Automatic transaction logging
  • Inventory management
  • Full invoicing
  • Bill pay
  • Unlimited customer support access

Premium Accounting

  • $84.58/mo per user
  • Add Microsoft 365 for $150/year
  • Advanced job costing
  • Audit trails
  • Role-based users
  • Advanced budgeting tools

Quantum Accounting

  • $139.58/mo per user
  • Add Microsoft 365 for $150/year
  • Everything included in previous plans
  • Manage multiple companies

Sage 50cloud Pros and Cons

Pros

  • Advanced inventory management
  • Advanced budgeting
  • One-stop tool for many business processes.
  • Easy to use
  • Remote access to the cloud
  • Double-entry accounting
  • Advanced reporting capability
  • Print checks
  • Best in class customer support

Cons

  • More expensive pricing
  • Software bugs occur during updates
  • Inventory modules can be hard to learn
  • Difficult to scale because of pricing for each user

Sage 50cloud Alternatives

Sage 50cloud accounting is a software that allows companies to manage all of their financial management operations. The software helps in automating business processes and streamlining the accounting workflow. It also helps in managing expenses, tracking and reporting company financials, and administering general ledger.

Despite its quality features and benefits, Sage 50cloud accounting is not a cheap alternative for small business owners. For a small company that simply needs accounting tools to manage inventory, invoices, and payments, there might be better options to consider.

Sunrise by Lendio

Sunrise is a fully-featured accounting software that can be used by individuals or businesses alike. The interface is designed to make it easy for users to find what they need in a few clicks.

Sunrise is a cloud-based accounting software that also provides features and benefits for small business owners. This software has been designed to help entrepreneurs manage their day-to-day operations with ease.

Sunrise also believes that there's nothing more important than the people they serve, which is why this company goes above and beyond to provide features like 24/7 support, easy setup, and training sessions for businesses just starting in order to ensure success.

Sunrise Accounting software is a cloud-based service that makes accounting easier for small business owners. It offers users the ability to track their business's financials, manage payroll, and more.

This software is different in the sense that it offers customers a complete set of features- not just payroll and financial tracking, but also tax preparation and invoicing functionality as well. The software can be used by individuals or businesses with one or more employees.

FreshBooks

FreshBooks is a cloud-based software accounting solution. It helps businesses manage their finances efficiently and track cash flow.

The software is highly customizable and you can adjust it to fit your business needs. It also includes an automatic expense tracker that helps you keep track of all your expenses. The software lets you record your time as well and track how much time it takes for each task in its project management area.

Sage 50cloud does provide some cool features that FreshBooks cannot match. They provide better time tracking and inventory management tools for any businesses that view these as a necessity.

FreshBooks is an accounting software designed for freelancers and small enterprises. It features tools for invoicing clients, tracking expenses, doing taxes, and all of this without any hassle or headache involved.

One major thing about FreshBooks is their pricing policy - they offer cheap plans so that you can scale as a business owner with FreshBooks and not worry about it becoming too expensive.

Charles Hall

Charles Hall

Charles has spent 25 plus years in the world of accounting and business. His experience includes working as a CPA/Auditor international accounting firms. He has worked as a controller and as a COO for small to medium sized companies.

Learn more about Charles Hall