2014 Review of Sage 50 Premium Accounting

Best Fit: Companies who need a solution with more traditional mid-sized business account/department structures, additional inventory options, and more powerful reporting tools for advanced users. Also, businesses who need a mature product with numerous industry templates, add-ons, and a strong debit-credit orientation to help them manage their small business.

Strengths:

  • Strong inventory (FIFO, LIFO, Average, or Specific ID), job costing, general ledger, and financial reporting features gives users powerful tools to manage a small business.
  • Reporting is an area where this Sage 50 leads its small business competitors.  The application’s debit-credit orientation, included report customization tools, support for ODBC/OLEDB and optional Sage Intelligence reporting in Excel PivotTables make this product a “go to” application for advanced users who need tools to write custom reports.
  • Sage 50 has a large number of available add-ons, commercial hosting partners, and connected services to help users configure the application to meet their specialized business management needs.
  • The product is a period-driven general ledger system, and supports traditional closing of periods, 52/53 week / 4-4-5 accounting periods, and supports using a separate “13th” period for year-end adjustments.

Potential Limitations:

  • Despite its strong feature set, no US version of Sage 50 supports multiple currencies or multiple warehouse locations.
  • While the only supported operating system for client and servers running Sage 50 is Windows, those using MacOS, Linux, or ChromeOS must use remote access or commercial hosting to access the product.
  • Companies who have advanced requirements like consolidated financial statements or more than five simultaneous users will need to upgrade to Sage 50 Quantum Accounting.

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