Accounting & Audit
2018 Review of Sage 50cloud – AR Functions
Mar. 19, 2018
Sage 50cloud Accounting from Sage Software offers a convenient desktop/cloud hybrid application that offers freelancers and small business owners the functionality of a desktop application with the convenience of cloud-based access. Currently available in three versions; Sage 50cloud offers complete accounting and financial capability, along with add-on modules for both Payroll and HR.
The latest version of Sage 50cloud features numerous product updates and enhancements including a new mobile invoicing feature. Various enhancements have also been made to the dashboard option in the product, along with significant updates to Sage 50cloud and Microsoft 365 integration.
Sage 50cloud offers solid AR functionality, with users able to easily track and manage customer information from a single location including a complete customer order and payment history as well as details such as last invoice date, last invoice amount, last payment date, and last statement date. Users can also add custom detail to each customer account including payment terms and credit allowance amounts, including a credit limit. Users can also create discount levels for each customer as well. Along with standard customer data, users can also utilize the user-defined fields to track additional data on each customer.
Sage 50cloud allows users to calculate finance charges if desired, and the application accepts a variety of payment types including both ACH and credit card payments. All ACH and credit card payments are recorded in Sage 50cloud using the Receive Money option. Users can easily apply payments to multiple invoices or choose to have Sage 50cloud automatically apply a payment to a specific invoice if desired. When posting a payment, any customer discounts will be displayed as well, though a discount is not available for partially paid invoices.
Users can also choose to override the automatic payment option and apply the payment received to any open invoice as desired. Users can add a customer prepayment to any invoice, with the prepayment later posted to the appropriate invoice. Sage 50cloud easily handles customer overpayments, simply adding the amount to the customer account. Users can also opt to attach the credit memo to any open invoice as well. For those processing real-time cash payments, payments can be processed without a corresponding customer in the database. Sage 50cloud also allows users to accept payments from mobile devices as well.
Sage 50cloud allows users to easily create customer statements, with the ability to customize the statement contents, with the option to include a personalized message, a dunning message for past due accounts, applicable finance or late charges, and the option to create credit balance statements or zero balance statements as desired.
Sage 50cloud also offers excellent AR reporting options, including an Aged Receivables Report, a Cash Receipts Journal, a Customer Sales History, a Customer Transaction History, and Customer Ledgers, which displays all detailed transactions for each customer.
Sage 50cloud offers excellent audit trail functionality, tracking information such as system date, time, system user, transaction I.D., and transaction amount. Users can access details in the audit trail report.
Sage 50cloud is a great fit for the small to mid-sized business; offering the stability of a desktop solution along with the advantages of cloud accessibility. Available in three versions, Sage 50cloud Pro starts at $439 per year, 50cloud Premium is $679 per year, and Sage 50cloud Quantum runs $1729 per year.
2018 Overall Rating – 4.75 Stars