Feature comparison: Sage 50 Accounting vs Sage Accounting

Summary

The differences between Sage 50 and Sage Accounting.

Description

Moving to a new system takes some getting used to. This article helps you find features in Sage Accounting that you use in Sage 50. For more information about setting up Accounting, refer to our guide.

Resolution

Settings and defaults

In Sage 50, you used the Settings menu to access all settings. The table below shows where to find these settings in Accounting.

Task	Where to go in Accounting
Check or enter company details	Go to Settings, About your Business.
Maintain foreign currency rates	Go to Settings, Currencies.
Check preferences and defaults for records and transactions	Go to Settings, Record and Transaction Settings.
Stripe integration	Go to Settings, Card Payments.
Paya and PayPal integration	Go to Settings, PayPal and Paya.
Check your invoice defaults	Go to Settings, Templates and Logos or Document Preferences.
Create or check ledger accounts	Go to Settings, Chart of Accounts.
Create extra users and access rights	Go to Settings, User Management.

Customers and Vendors

In Sage 50, you used the Customer Records and Vendor Records windows to manage customers and vendors. The table below shows where to perform these tasks in Accounting.

Task	Where to go in Accounting
Create new customers	Go to Contacts, Customers, New Customer.
View or edit customer’s details	Go to Contacts, Customers, then select the customer.
Create and manage quotes	Go to Sales, Quotes & Estimates.
Create and manage invoices	Go to Sales, Sales Invoices.
Record a customer receipt	Go to Sales, Sales Invoices. Select the invoice, then select Record Payment. You can also go to Banking, then go to New and select Sale/Receipt.
Record a customer refund	Go to Banking, select New, Expense/Payment, then select the Customer Refund tab.
Enter a batch invoice or credit	Go to Sales, Quick Entries. Or create an individual credit note from an invoice or a stand-alone credit note by clicking Sales, then Sales Credit Notes.
View a customer’s transactions	Go to Contacts, Customers. Select the customer to display transactions at the bottom of the page.
View aged balances	Go to Reporting, More, Accounts Receivable.
Produce customer statements	Go to Contacts, Customers. Select the required customer, then select Manage, Statements.

Vendors

Task	Where to go in Accounting
Create new vendors	Go to Contacts, Vendors, New Vendor.
Edit or view vendors	Go to Contacts, Vendors, then select the required vendor.
Create invoices	To create an expense invoice, go to Expenses, Vendor Bills, then select New Bill.
Create batch entries	Go to Expenses, Quick Entries, then select New Quick Entry to create batch expense transactions quickly.
Create credits	To create or manage an individual credit note, go to Expenses, Vendor Credit Notes, then select New Credit Note. Go to Expenses, then select Quick Entries to create multiple notes.
Record a vendor payment	Go to Expenses, Vendor Bills. Select the invoice you want to pay, then select Record Payment. Or go to Banking, then select New, Expense/Payment. Enter the payment details on the Vendor Payment tab.
Record a vendor refund	Go to Banking, New, Sale/Receipt, then select the Vendor Refund tab.
View a vendor's activity	Go to Contacts, Vendors, then select the vendor to display their activity at the bottom of the page.
View aged balances	Go to Reporting, More, Accounts Payable.
Produce vendor statements	Go to Contacts, Vendors, select the required vendor, then select Manage, Statements.

Company

Task	Where to go in Accounting
Create your GST/HST Return	Go to Reporting, Tax Returns.
Format the invoice layout	Select the Settings tab, then select Document Preferences in the Invoice and Business Preferences section.
Create a journal entry	Go to Journals, New Journal.
View General Ledger report	Go to Reporting, More, then select General Ledger in the Detailed Reports section.
Maintain your chart of accounts	Select the Settings tab, then select Chart of Accounts in the Financial Settings section.

Banking

In Sage 50, you used the Banking tab for banking tasks. Similarly, in Accounting, you can perform banking tasks from the Banking tab. The table below shows where to perform these tasks in Accounting.

Task	Where to go in Accounting
Create and manage bank accounts	Go to Banking, New, then select Bank Account to create a new account or select to open an existing account.
Create a bank receipt	Go to Banking, New, Sale/Receipt, then select the Other Receipt tab.
Create a customer receipt	Go to Banking, New, Sale/Receipt, then select the Customer Receipt tab. Or go to Sales, Sales Invoices, select the invoice, then select Record Payment.
Create a bank payment	Go to Banking, select New, Expense/Payment, then select the Other Payment tab.
Record a vendor payment	Go to Banking, select New, Expense/Payment, then select the Vendor Payment tab. Or go to Expenses, Vendor Bills, select the invoice, then select Record Payment.
Transfer funds between bank accounts	Go to Banking, New, Bank Transfer.
Reconcile your bank accounts	Go to Banking, select to open the bank account you want to reconcile, then select Reconcile.
Create recurring entries.	Go to Banking, then select to open the bank account. Select the other payment or other receipt you want to make recurring on the transaction list to open it, then select Make Recurring.
Deposit cash	Go to Banking, select your Cash account to open it. Select New Entry, then select Bank Deposit.

Products and Services

In Sage 50 and Accounting, you need to create separate records for products and services. Accounting allows you to create stock or non-stock products. Enter stock products to track quantity and revenue; use non-stock products for items you don't need to track. Select Products & Services to create and manage your product and service records.

Reporting

In Sage 50, you used the Reports menu or Report Centre to access different reports. In Accounting, access your reports from the Reporting menu. Select Reporting, then More to see a complete list of all reports.

Tax rates and tax codes

In Sage 50, you chose a tax code when entering a transaction. In Accounting, you don’t need to maintain tax codes or set up rates. The system does this automatically. When you create a transaction, select a tax rate from the Tax Rates menu.