When it comes to accounting software, we all have our favourites.
I mean accountants are probably more passionate about it than most people… but it’s good to have a preference.
Sometimes it simply comes down to whatever the company has always used.
But it doesn’t have to be. You could pick based on how effective it’s actually going to be at tackling your main industry pain points. There are certain things that if tackled correctly are bound to improve the lives of accountants everywhere.
Fortunately, we have the solution (I mean finding solutions is what we do, after all!)
In this series of posts, we’ll be looking at how Sage 200, our recommended accounting software, helps your industry with the nitty gritty.
We’re guessing you’ve heard of Sage before but if you need a refresher here’s a rundown of one of the best pieces of business accounting software out there.
Sage is a UK based FTSE 100 company which serves more than 800,000 businesses in the UK and Ireland alone, including more than a third of the other FTSE 100 companies.
Their industry leading software offers specific solutions and add-ons that run alongside businesses to streamline and enhance their processes and help them achieve objectives.
Sage 200 is their primary solution to all of the biggest problems faced by SME’s.
Of course, the software solves many universal issues that apply to all sectors of industry but it also provides solutions to problems in specific industries.
Let’s look at some of the great ways using Sage 200 enhances the Financial services industry.
When it comes to accounting, Microsoft Excel is always going to feature. 97% of customers use Excel and frequently export data from it.
In order to allow users to perform detailed analysis without jumping between programs, Sage incorporates Excel into the system.
This is one of the major benefits of Microsoft Office integration with the program. Reports, worksheets, formulae and more can be customised and added to the system in one click and it’s possible to refresh data from within the software itself.
For those familiar with using the Excel format but wanting the clean effective layouts of Sage 200 reports this is the perfect combination.
Never has recording and managing assets been easier. Over 40% of customers have a requirement to handle fixed assets and it’s quite likely that a number of your clients will be in this number.
Fortunately, Sage 200 has a register for this. You can manage depreciation in whatever way is best for the asset in question.
We all work in different ways. When working in financials we’ll see different things as a priority. A software that tries to be one-size-fits-all is no good.
Traditionally certain data and actions have only been available from menus and list view. Now they are accessible via a single screen, streamlining the process and saving time and money for you and your clients.
Not only that but understandably you’re going to want to customise your experience. Sage 200 lets you do this too. Each workspace can easily be configured to the user, meaning you have quick access to the tools you use the most.
Oh, and all this runs in web browser too so it’s accessible wherever you are.
We live in an age of increasing uncertainty when it comes to data. Complying with the General Data Protection Regulation is now essential for any business.
When working in financial services it’s particularly vital that the data you’re handling falls under this regulation. You’re obviously dealing with a great deal of sensitive data from other businesses and if it were to fall into the wrong hands it could spell disaster for not only their businesses but also your own.
Fortunately, Sage 200 has all this covered. There are now built in reports that allow the user to update and delete records quickly and easily and it’s all stored securely behind many layers of Microsoft OneDrive encryption.
Tax is digital now. Sage of course wants to be at the forefront of accounting technology, so it goes without saying that the system offers solutions for this very key aspect of the financial year.
VAT can be submitted through the software and the tools available ensure that anyone using it is fully compliant.
Of course, these are just some of the things Sage 200 does. If you want to know more about this software and how we can help integrate it into your business, give us a call or get in touch some other way. We’d be happy to chat.