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Sage 50 Premium Accounting 2016 accounting package is dedicated to assisting small and medium size enterprise owners to make decisions based on information the accounting software delivers.
Since the company was first founded as a local start-up in Northeast England’s Newcastle-upon-Tyne in 1981, Sage has grown into a global entity with over 6 million customers around the world.
True to its high performance culture that aims to make their software products the go-to source of advice for businesses, it has recently released its Sage 50 Premium Accounting 2016 software package to address all the basic accounting needs necessary to run a small to medium sized business.
Sage 50 Premium Accounting 2016 Review
This Sage 50 Premium Accounting 2016 Review enumerates the many features of Sage’s latest accounting software iteration, including its comprehensive modules that make it a one-stop-shop for all accounting, bookkeeping, and financials for any small to medium-sized business.
Sage 50 Premium Accounting 2016 Review – Is It Worth the Switch?
There is a wide array of accounting software packages available in the market today to meet all kinds of business needs. Depending on specific requirements of each business owner, each software application possesses advantages and disadvantages, depending on the accounting needs met.
What’s in the Box?
The box, with product dimensions measuring 5.1 x 1.5 x 7.5 inches, contains item comes in a CD-ROM carrying the software compatible with a PC. Its manufacturer’s warranty can be requested via Sage’s customer service department.
To install, users will need to have at least a 2.4 GHz processor, 1GB of disk space, and 1GB of RAM for a single user, and at least 2GB of RAM for multiple users. The software supports Internet Explorer 7.0, 8.0, and 9.0, and requires 16-bit SVGA video, a DVD-ROM drive, and Internet access via a 56 kbps modem to access its online features and services.
The CD-ROM contains the accounting modules included the Sage 50 Premium Accounting 2016 software package to give prospective buyers an idea of what they’re getting:
General Accounting Modules
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The latest iteration of the software is equipped to provide all the reports accountants and CPAs need, including sales, billing, invoicing, banking, payroll, as well as management of customers and vendors.
With all requisite accounting modules integrated into a single software package, business owners need not purchase each module separately to be able to manage the accounting side of their company effectively.
Reporting and Analytics Modules
With over 150 preconfigured reports that enable options for custom data fields and customized reporting, the Sage 50 Premium Accounting 2016 software package allows business owners or their accountants to generate reports to highlight the latest business trends, or for presentation to other CPAs and investors.
More importantly, the reporting and analytics modules make it simpler for the business owner to make the most optimal financial decisions based on information readily accessible at their fingertips, including income statements, gross profit reports, transaction reports, ledgers, journals, and audit trails.
Simply drilling down on each report item calls up the original entry, complete with additional information. Furthermore, each field on every report can be altered using the software itself, and the data can exported to other software applications for editing.
Sage 50 Premium Accounting 2016 makes it very simple to generate reports with the use of dates, sort methods, and filters. Users will also find it easy to change fonts, adjust columns, and edit print setup parameters before printing a report. Business owners can also convert reports to Excel or PDF files and share them via email.
Employees and Payroll Modules
The Employees and Payroll modules allow comprehensive employee and payroll databases to cover all types of employees, whether hourly, by commission, or salary-rated workers from one to 499 employees.
The accounting software is capable of disbursing payroll via direct deposit or printed checks, and can calculate payroll taxes, provide 260 federal and state forms, and deliver W-2s. It can manage payroll with 12 payroll report templates, including compensation reports, yearly earnings and tax liabilities.
Apart from managing payment rates, overtime pay, and special rates, it also tracks employee time and weekly timesheets, as well as expense tickets. The software tracks all relevant employee data, from contact information, images, demographics, and emergency contacts to pay information, employment status, vacation and sick time, as well as provides extra fields for custom information.
Inventory and Services Modules
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SME business owners will also discover how Sage 50 Premium Accounting 2016 is capable of managing time-billed services, items, and assemblies, as well as inventory and purchase orders. It also tracks shipping, substitutions, reorder points, associated vendors, and inventory items for up to 10 price levels.
Several item sections make it easier to access general and custom fields, bills of materials, serial numbers, attributes, and history. Files like scanned images, packing lists, or receipts can also be attached to each item..
The software package includes a section for vendors and purchasing, which allows management of the company’s vendors, purchase orders, bills payments, and time and expense tickets. It will also store multiple vendor addresses and contact information, credit and history.
Productivity and Integration Modules
Sage 50 Premium Accounting 2016 is compatible with a number of third-party business solutions and several add-ons, most of which come with a subscription fee. These include software for POS, expense tracking, distribution, time-clocks, document managers, and more. Business owners can also opt to use add-on services for payment processing, remote access, and credit card processing.
With its backup and restoration tools, users can safely backup their databases online, and even configure the software to remind them to back up important data on scheduled dates. It also offers a Business Intelligence service to perform advance reporting.
Sage 50 Premium Accounting 2016 offers solutions for government organizations, nonprofits, and even for industry-specific requirements. Businesses can opt to purchase only the modules they need, with the software supporting up to five users at the same time and offering unlimited database size.
The software supports more than a single business, and more than one warehouse. Security-wise, it can manage screen-based options, and provide audit logs for all transactions that pass through it.
Sage 50 Premium Accounting 2016 also allows business owners to migrate from one Sage product to another of their choice at a discounted rate.
- Several versions available, including online and cloud-based software, depending on business needs.
- Comprehensive software provides all the accounting modules needed to manage an SME.
- Saves the business owner time and money.
- Helps promote strategic business growth with inventory management, accounting and reporting tools, as well as manage employees, costs, and security.
- One-year support and product upgrade options.
- Installing the software can be challenging.
- Updates come with additional cost through annual maintenance agreement.
- Discontinued support for Windows XP and Microsoft Office 2003.
- No longer compatible with Outlook Sync.
Making the Switch
Sage 50 Premium Accounting 2016 remains among the top 10 small business accounting software choices in the market today, and depending on the specific needs of each business as it grows, business owners will need to take consideration of the different features of each software brand, whether it be QuickBooks, AccountEdge, Cougar Mountain, CYMA or Sage 50, and weigh each according to what their business requires from high-performance accounting software, in accordance with their respective budgets for IT.
Sage 50 Premium Accounting 2016 is a PC version compatible with:
- Windows 10
- Windows 8
- Windows 7