Cloud Accounting

From

Mercury Systems
Lesson 1
Overview of Sage 50 Accounting Software
Sage 50 Accounting is a multi-functional accounting and business
management solution that offers strengths in the following areas:
 Financial Management
 Customer Management
 Inventory Management
 Vendor Management
 Employee/Payroll Management
 Jobs Management
 Business Intelligence Reporting
 Multi-User Management Security
 Features specific for your industry
Lesson 2
Introduction to Company Creation & Maintaining
Chart of Account
To start, the first thing to do is create company. A company is
a reporting entity
 Create new Company
 Maintaining Chart of Accounts
 Customizing Chart of Accounting for different Industry
Lesson 3
Entering beginning balance and budget
Steps
 Click Maintain
 Select Chart of Accounts
 Click Accounts Beginning Balance
 Select the period and Click OK
 Input the beginning balances for each accounts in the space provided
Lesson 4
Creating inventory items
Steps
 Click Maintain
 Select Inventory Items
 Input the Inventory ID
 Type the inventory description (Item name)
 Select the Item class
 Select the price level, Discount ,costing method, part Number location
as it is applicable
 Select Sales, inventory and cost of sales Accounts
 If applicable input minimum stock and re order quantity
 Select the preferred Vendor and Preferred buyer
Lesson 5
Creating Vendors
Steps
 Click Maintain
 Select Maintain Vendor
 Input Vendor ID
 Type the name of the vendor
 Input the address ,telephone numbers, Email and website
 Click contact Tap and input details of the contact person
 Click Sale info Tap and select Sales Rep, Sales account and price level
 Click Payment and credit Tap and set the credit terms
Lesson 6
Creating Customers
Steps
Click Maintain
Select Maintain Customer
Input Customer ID
Type the name of the Customer
Input the address ,telephone numbers, Email and website
Click contact Tap and input details of the contact person
Click Sale info Tap and select Sales Rep, Sales account and price
level
Click Payment and credit Tap and set the credit terms
Lesson 7
Other actions to takes on Maintain Menu
 Make multiple transactions inactive
 Set quantity discounts
 Maintain job
 Maintain default information for customers, vendors, staff,
inventory etc
 Set memorized transactions for quotes, invoices, purchase order
etc
 VAT
Lesson 8
Generate Quotes , Sales Order and Proposals
Steps
 Click Task and select Quotes, Sales Order and Proposal
 Select customer ID
 Select Date and date the Order will be open to
 Input the document serial Number
 Input the quantity and select the item (s)
 Click Save
Lesson 9
Generate Invoice
Steps
Click Task and select Sales and Invoicing
Select customer ID
Select Date
Input the document serial Number
Input the quantity and select the item (s)
Click Save
Lesson 10
Receive Money From Customer
Steps
Click Task and select Receive Money
Select customer ID
Select Date
Input the Receipt Number and Reference Number
Click apply to invoice if paying for invoiced goods
Select the number of invoices to be paid
 or click apply to revenue if its for any other thing
Input the quantity and select the item (s)
Click Save
Lesson 11
Issue Credit Memo for Customer when they return
goods
Steps
 Click Task and select Credit Memo
 Select customer ID
 Select Date
 Input the document serial Number
 Input the quantity, select the invoice on which the return is
being made , select the item (s)
 Click Save
Lesson 12
Generate Purchase Order
Steps
Click Task and select Purchase Order
Select Vendor ID
Select Date and date the Order will be open to
Input the document serial Number
Input the quantity and select the item (s)
Click Save
Lesson 13
Receive Goods from Supply
Steps
 Click Task and select Purchase and receive Inventory Select Vendor ID
 Select Date
 Input the document serial Number
 Input the quantity and select the item (s)
 Click Save
Lesson 14
Make Payment
Steps
 Click Task and select Payment , Select Vendor or Customer ID
depending on who is to be paid
 Select Date
 Input the document serial Number
 Input the quantity and select the item (s)
 Click Save
Lesson 15
Issue Credit Memo for Vendor when you return
goods
Steps
Click Task and select Vendor Credit Memos
Select Vendor ID
Select Date
Input the document serial Number
Input the quantity, select the item (s)
Click Save
Lesson 16
Project Management- JOBS
Maintain Jobs
Steps
 Click Maintain in the task bar
 Select Jobs Costs
 Select Job
 Input the Job ID and Description
 Enter the Job Start Date, end Date and select Job Status (In progress,Pending,Completed or On
hold)
 Input the Supervisor’s name
 Select the customer for the job and input his/her address
 Input Purchase order number
 Select Billing method, if you select no progress billing , you can enter percentage of completion in
the space provided
 If you select percentage of completion, percentage of contract or percentage of proposal the
system will automatically calculate the percentage for you
 Click job beginning balance and enter the beginning job balances
 Click the Estimated Expenses and Revenue tap and input estimated expenses and revenue
Lesson 17
Jobs Continues;
Job Phases and Job Codes:
To better analyze the job in to segments, phases or job
codes can be maintained for each phase of the job
Steps:
From Maintain select Job costs, and select Phases or
Job code
Input the ID and Description
Lesson 18
Bank Reconciliation
Steps:
From task menu select Task
Select Accounts Reconciliation
Select the bank to reconcile
Tick corresponding items(Items that appears in the bank statement
and still appear in the ledger
If applicable input the interest income and select the GL account for it
Input bank charges and select the Accounts for it
Input Bank statement ending
Click OK
Lesson 19
Bank Reconciliation Continues;
To reconcile bank account automatically
Select the bank and click import
Select the bank ,input User ID and Password and click
import
The systems will automatically reconcile the accounts.
You can also manually select bank statement emailed
to you by your bank from your computer for automatic
reconciliation
Lesson 20
Reports
Account Receivable:
The following reports about receivables can be viewed from report
tap
Aged receivables
Contact List
Customer List
Customer Ledger
Customer Management Details
Invoice register
etc
Lesson 21
Reports
Account Payable:
The following reports about Payable can be viewed from report tap
Aged Payables
Cash Disbursement Journal
Cheuque Register
Vendor Ledger
Vendor List
Vendor Management Details
etc
Lesson 22
Reports
Payroll:
The following reports about Payroll can be viewed from report tap
Payroll journal
Payroll Register
Employee compensation report
Employee List
Tax Liability Report
Yearly earnings Report
etc
Lesson 23
Reports
General Ledger:
The following reports about General Ledger can be viewed
from report tap
Budget
Budget and variance
Chart of Accounts
General Ledger
General Journal
Trial Balance
Lesson 24
Reports
Financial Statement:
The following reports about Financial
Statement can be viewed from report tap
Income Statement
Balance Sheet
Cash Flow Statement
Lesson 25
Reports
Inventory
The following reports about Inventory can be viewed from report tap
Assembly Stock Report
Assembly Stock List
Inventory Profitability Report
Inventory Valuation Report
Inventory Adjustment Journal
Item Costing Report
Inventory Stock Status Report
Item List
etc
Lesson 26
Reports
Jobs
The following reports about Jobs can be viewed from report tap
Job cost List
Estimated Job Expenses
Estimated Job Revenue
Job Ledger
Job List
Job profitability Report
Phase List
Job Register
etc
Lesson 27
Reports
Accounts Reconciliation
The following reports about Account Reconciliation can
be viewed from report tap
Account Reconciliation
Account Register
Bank Deposit Report
Deposit in Transit
Lesson 28
Reports
Company Report
The following reports about Company Reports can be
viewed from report tap
Audit Trial Report
Find Transaction Report
Lesson 29
Customize Financial Statements
Steps
Click Report and Forms on Task Bar
Select Financial Statement
Right click on Balance Sheet, Income Statement or Cash
Flow
Select Modify
Select Design
You can customize any of the FS to how you want the
report look like
Lesson 30
Customize Invoice, Receipt, Orders, proposal
Credit Memo etc
Steps
Click Report and Forms in the Task Bar
Select Forms
Select the Document you want to customize
Click Customize
Make needed changes. This can include importing
Logo, Text , Company Information etc
Lesson 31
Back up and Restore
Back up:
From File select Back up
Click back up
Select preferred file location
Click save
Lesson 32
Automatic backup
From file select Automatic backup
Select the company file to back up
Select the file the backup will be saved to
Input user name and password
Click include file name in the backup file
Select create new file or override existing file of stop backup
process
Select log out users before backup if need be
Click save
 Lesson 33
Import Data Export of Data

Steps
 Click File and select
Import/Export
 Select the category of data
 Select the data to import
 Click Import
 The files must be saved
with .CSV Extension
Steps
 Click File and select
Import/Export
 Select the category of data
 Select the data to export
 Click export
 The data will be exported to
an excel file
Lesson 34
Multi User Management (Using Sage 50 In A
Network Environment)
Administrator can log out Selected users or all users at a
time.
Administrator can also schedule time to log out users
after users have received notifications
Lesson 34
Steps
From Maintain select
Users
Select user login Manager
Select users to be logged
out and click ok
Or select logout all users,
to log out all users on the
network and click ok
Or select log out option
to set time when the
system will log out users
and send them messages
to log out before the
system log them out in
set time
Click logout duration to
set the time before non
admin users can log in
Lesson 35
Set up security Steps:
From Maintain
You can -
Select users
create new user, Select Setup security
edit users’ role Select edit user roles to
give limited access to
Set password users
and change Select change password
password of users to change users
password
Lesson 36
Steps
Year End Wizard From Task select Systems
(Closing Financial  select year-End Wizard
Year) Two Open Fiscal and Payroll years
will be displayed
At year end, you have Click next and select either to close
only the fiscal or payroll or both
to close a year in Click next and print ledger if
order to post necessary
Click next and run Internal
transaction in the Accounting Review if necessary
new year. Click next and backup data
Click next and complete the Closing
Only two accounting of the earlier Fiscal and Payroll Year
years can be viewed
Lesson 37
Change Accounting Steps:
Period From Task select systems
Accounting Period in Select Change
Sage 50 is referred to the Accounting Period
month that is open for Select the period to be
transaction. Task such as opened
Accounting period
Click ok
cannot be performed
unless Accounting
period is opened
Lesson 38
Audit Trail Report Steps
Audit Trial report  From Report and Forms on Task bar
select Company
changes made to  Select Audit Trail
The system will display report on the
maintain items and following activities
 Date of changes
transaction showing  Time

the ID of the user  User Name

 Action taken e.g. add or change
that made the latest  Description of what was done
 Transaction ID
changes  Transaction Reference
 Amount