Streamlining a business often involves a string of complex tasks and processes, and it’s these functions that helps you manage a business successfully. Sage 50 Accounts software is one of the must-have tools for business, and completing this intermediate course will take your skills and knowledge of all the useful accounting functions it contains to the next level.
Features Of The Course
Sage 50 Accounts has a varied range of accounting functions that will prove useful in everyday business operations. Across the ten modules you’ll gain an understanding of these tools, and how to use them, including how to manage cheques and remittance, recording stock deliveries, creating price lists and service invoices, and how to manage stock adjustments.
Why Choose This Course?
This course is recommended to anyone who has completed the Sage 50 Beginners Diploma Course, but there are no other entry requirements, so it is an ideal fit for anyone with their own business, or looking to take up a new role in finance or business management and administration. Gaining a solid understanding of computerised accounting and invoicing could help you become self-sufficient in accounting, or provide this service to other companies.
KEY LEARNING POINTS
Work through the ten modules in this e-learning course and learn how to provide a high standard of accounting services in your own business or job role, or to other businesses.
- Learn about accruals and prepayments and how they affect your accounts. Understand how to set up both in Sage 50.
- Get to grips with running month end accounts.
- Gain a greater understanding of fixed assets and depreciation, and how to set up a fixed asset record on the program. You’ll also learn how to post fixed asset records based on hire purchase, and look at asset valuation.
- Explore three methods of calculating depreciation in Sage 50.
- Look further at fixed assets and depreciation including using the asset disposal wizard and recording asset sales. Also look into inaccurate recording and processing of assets, what to do if you miss a month’s depreciation.
- Learn how to re-index supplier and customer addresses.
- Examine in-depth how to process purchase orders using customer records, including how to set-up purchase order defaults, setting up and calculating discounts on invoices and purchase orders, and how to create the purchase orders.
- Learn how to specify different options on purchase orders, such as invoice numbering and setting a default invoice format.
- Become familiar with purchase orders in relation to stock control and monitoring. You will learn how to alter deliveries, use the update ledgers option for purchase orders, and how to cancel, delete, and recall a purchase order.
- Learn about the FIFO (first in first out) rule and how to adjust stock using this method.
- How-to’s will also cover the exact method, and average cost price method in Sage 50, posting stock out, how to use sales invoices, credits, and sales orders, and looking at the product shortfall and sales shortfall options for maintaining stock levels.
- Review the check bill of material feature, and how to use it to track stock availability, and look at assembly levels and link levels of both products and their sub-components.
- Move on to product pricing, and complete lessons on creating and applying price lists, adding products to a price list, selecting calculation and recalculation methods, and importing products into a customer price list.
- Complete an overview on pricing strategy, the varied discounts you can set up in Sage 50, setting up a ‘good customer discount, and quantifying discounts.
- Look into audit trails and credit control. This module focusses on entering and dispatching sales orders, viewing and interpreting despatch information, and allocating stocks to complete a sales order.
ADVANTAGES OF THIS COURSE
- This course is suitable for people from all business backgrounds with basic literacy, numeracy and IT skills.
- It’s an ideal step up from the Sage 50 Beginners Diploma Course, so you can expand your knowledge and become more familiar with the program.
- Complete the course and pass the end test to receive a Diploma, which will look impressive on your CV as you further your career.
- This course is broken down into easy to manage modules that you can access whenever you want.
- 12 months access to course material so you can refresh your knowledge at any time.
- Online support should you need it.
Units of Study
- Understanding the concept of accruals and prepayments
- How to set up prepayments and accruals in Sage 50
- How to run month end accounts
- How to post manual entries in the prepayment journal and the reversal
- Understanding fixed assets and depreciation
- How to set up a fixed asset record in Sage 50
- Three methods of calculating depreciation in Sage 50
- How to post a fixed asset record based on hire purchase, and perform asset valuation
- How to use the Asset Disposal Wizard and record sale of an asset
- What to do if depreciation has been missed for a month
- What to do if an asset has been recorded and processed inaccurately
- How to re-index supplier and customer addresses
- Setting up purchase order defaults in Sage 50
- Specifying different options, such as invoice numbering and default invoice format
- How to set up and calculate discounts on invoices and purchase orders
- How to create purchase orders and edit the item line
- How to amend deliveries
- How to use the ‘Update ledgers’ option for purchase orders
- How to cancel, delete or reverse a purchase order
- How to memorise and recall a purchase order
- How to incorporate stock adjustments using the FIFO or First-in-First-out rule
- How to correct an incorrectly entered AI, using the exact method and the average cost price method in Sage 50
- How to post stock out, using sales invoices, credits and sales orders
- How to maintain stock levels, using the product shortfall and sales order shortfall options
- Important reasons why businesses need to incorporate adjustments
- Assembly levels and link levels of products and sub-components
- How to use the ‘Check bill of material’ (BOM) feature to track stock availability
- How to check the BOM to which a sub-component belongs, and deleting a BOM
- How to create and apply price lists
- How to add products to a price list
- How to select calculation and recalculation methods for price lists
- How to import products into a customer price list
- A brief overview of the importance of a pricing strategy.
- Different types of discounts that can be set up in Sage 50
- How to set up a ‘good customer discount’
- How to set up early settlement and quantity discounts
- How to enter sales orders
- How to despatch a sales order
- How to view and interpret despatch information
- How to allocate stocks and complete a sales order