50US Course Handout 50US Sage50US GetStartedwithSage50Accounting

Sage 50-U.S.
Edition
Get Started with Sage 50

Accounting
A self-guided training course for
new company setup
Notice
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Table of Contents
Introduction ..................................................................................................................................................... 7
Course Contents ...................................................................................................................................... 9
How to use this guide ........................................................................................................................... 10
Create Your Company .................................................................................................................................. 14
Enter Company Information ................................................................................................................. 16
Select a Method to Create Your Company ........................................................................................... 16
Select a Business Type .......................................................................................................................... 17
Choose an Accounting Method............................................................................................................. 18
Choose a Posting Method ..................................................................................................................... 19
Define your Fiscal Year .......................................................................................................................... 20
Finish ..................................................................................................................................................... 23
Company settings ......................................................................................................................................... 24
New Company Setup tools ....................................................................................................................... 25
Setup Guide ........................................................................................................................................... 25
Sage Advisor settings ............................................................................................................................ 27
Other Company settings ........................................................................................................................... 28
Company Information window ............................................................................................................. 28
Change Accounting Periods .................................................................................................................. 29
How dates are used .............................................................................................................................. 31
Global Options .......................................................................................................................................... 33
Accounting tab ...................................................................................................................................... 33
General tab ........................................................................................................................................... 35
Sage Partners tab .................................................................................................................................. 38
Spelling tab............................................................................................................................................ 38
Default Email service ................................................................................................................................ 39
Business Status/My Dashboard ................................................................................................................ 43
Business Status...................................................................................................................................... 43
My Dashboard (Quantum) .................................................................................................................... 44
Understanding Records ................................................................................................................................ 43
Records Overview ..................................................................................................................................... 44
Record defaults ......................................................................................................................................... 45
How do default settings work? ............................................................................................................. 45
What are the benefits of using defaultsettings? .................................................................................. 45
How do I find the default settings? ....................................................................................................... 46
Record ID ............................................................................................................................................... 46
Record toolbar ...................................................................................................................................... 47
Sage Advisor settings ............................................................................................................................... 48
Changing a Record ID............................................................................................................................... 49
Activity .................................................................................................................................................. 50
General Ledger accounts .............................................................................................................................. 53
Introduction to the General Ledger ........................................................................................................... 54
Set up General Ledger defaults ................................................................................................................ 55
Rounding account ................................................................................................................................. 55
Account Segments (Sage 50 Premium and higher) ............................................................................... 56
Chart of Accounts (COA) .......................................................................................................................... 57
Standard Chart of Accounts structure .................................................................................................. 57
Maintain Chart of Accounts .................................................................................................................. 58
Account Types ....................................................................................................................................... 59
Required Accounts ................................................................................................................................ 60
Account beginning balances ................................................................................................................. 61
Vendors ......................................................................................................................................................... 65
Vendors & Purchases navigation center ................................................................................................... 66
Setting up Vendor Defaults ....................................................................................................................... 67
Vendor Defaults window ...................................................................................................................... 68
1099 Processing .................................................................................................................................... 69
Check Printing defaults ......................................................................................................................... 70
Add Vendor records .................................................................................................................................. 71
Features overview ................................................................................................................................. 72
Vendor beginning balances ................................................................................................................... 73
Customers ..................................................................................................................................................... 77
Customers & Sales navigation center ....................................................................................................... 78
Set up Customer Defaults ......................................................................................................................... 79
Terms and Credit tab ............................................................................................................................ 79
Account Aging tab ................................................................................................................................. 80
Custom Fields tab .................................................................................................................................. 81
Finance Charges tab .............................................................................................................................. 82
Pay Methods tab ................................................................................................................................... 83
Statement & Invoice defaults ............................................................................................................... 84
Set up Sales taxes .................................................................................................................................... 86
Sales Tax wizard .................................................................................................................................... 86
Add Customer records .............................................................................................................................. 89
Features overview ................................................................................................................................. 89
Customer beginning balances .................................................................................................................. 91
Confirm beginning balances.................................................................................................................. 93
User Security ................................................................................................................................................. 95
System Security Overview ........................................................................................................................ 96
Set Up Users ............................................................................................................................................. 97
Password security ................................................................................................................................. 98
Password options .................................................................................................................................. 99
Password maintenance ....................................................................................................................... 100
Creating user profiles .......................................................................................................................... 101
Security Roles (Quantum only) ........................................................................................................... 103
Data Protection ........................................................................................................................................... 105
Overview ................................................................................................................................................. 106
How often should you back up? ......................................................................................................... 106
Backup methods ................................................................................................................................. 106
What is included in a backup file? ...................................................................................................... 106
Back up company data ........................................................................................................................ 107
Restore company data from a backup ................................................................................................ 108
Additional Resources .................................................................................................................................. 111
Apps & Services ...................................................................................................................................... 112
Support Tips ............................................................................................................................................ 113
Sage University training options ............................................................................................................. 114
Next Steps ........................................................................................................................................... 114
Build your business ................................................................................................................................. 116
Sage 50–U.S. Edition: Get Started with Sage 50 Accounting Module 1 – Introduction
Introduction
Congratulations! You have purchased a simple, yet powerful, accounting tool that will provide you with
important financial information to manage your business more effectively.
 Learning Objectives
In this lesson, you will learn how to:
• Use this guide to set up Sage 50 or Sage 50cloud for optimum use.
• Access the supplemental video training that accompanies this learning package.
© 2019 The Sage Group plc or its licensors 7

While Sage 50 is not difficult to use, this self-guided course will expedite your implementation process
and help you establish a strong foundation to grow your business.
Based on a well-organized and structured approach, you will follow the steps outlined in this training
guide to build your initial data set. By building your company’s data, you will learn how to use Sage
50.
Use the accompanying training videos to enhance your understanding as needed.

Locate additional information about other modules and add-on services at the end of the guide, to plan
your next steps. We’ve also included training recommendations to continue your Sage 50 education.
When you know what is possible with Sage 50, it becomes easier to achieve your business goals.

Course Contents
The core of this self-guided training course includes:
• Create a company
• Company settings
• Creating and maintaining records:
• General ledger accounts
• Vendor records
• Customer records
• User security profiles
• Data protection
• Additional Resources
In addition to step by step instructions and related videos, this setup course offers insights, tips,
warnings and best practices for your consideration, so be sure to take note of that additional
information.
Finally, this training is about building a foundation for your business transactions. After you use this
guide to set up your company, you may want to complete additional training about using Sage 50 on a
day-to-day basis to process transactions and generate financial reports.
Refer to the section at the back of this guide titled Sage University training options for details about
recommended training. All our Sage University classes are conducted online – in instructor-led or
recorded formats – so you can participate from your home or office.

How to use this guide

The focus of this guide is helping you build the initial dataset for your company.
If you want to test a feature, you can either create a test version of your company’s data or perform any
testing in the sample company, Bellwether Garden Supply.
If you decide to create a set of test data based on your company’s settings, be sure to label your
company as a Test company so there is no confusion later.
Sample Company
Throughout this guide you will find references to the sample company, Bellwether Garden Supply.
You can access this company initially from the Sage 50 Start screen by clicking Explore a sample
company.
Thereafter, when you want to open Bellwether, you can click File>Open Previous Company from
within the program or click Open an existing company on the Start window.
You can use the sample company for testing or just to view the data. There are a few activities that will
have you use the sample company data.
NOTE: The Quantum Edition has more features than the other versions and sometimes
instructions will apply only to Quantum. Instructions are clearly marked so that Pro or Premium
Edition users can disregard the Quantum-specific instructions.

Learn More
Learn more: This icon indicates that a recorded training video is available to help you with this
task if you need additional information.
Sometimes the best way to learn something is to watch someone perform the task. If you find narrated
demonstrations helpful, we encourage you to watch for the “learn more” icon throughout this guide.
When you see the Sage U “learn more” apple, you’ll know that there is a training video available to
assist with this task. These setup videos are included with this learning package.
 Follow these steps to access your training videos:

1. Go to Sage University.
2. From the Sage U logon screen, enter your email address and Sage University password.
NOTE: If you do not know your Sage University password, select Forgot Password and enter your email
address.
3. Click View my transcript from the My Learning section of your home page.
4. Locate the learning package and Open Curriculum.
5. Select the correct category and click View Details.
6. Click the Launch button beside the intended video.
NOTE: Sage has a team of Sage U specialists on hand to help you if you ever have questions or
need help with training registration or access. You can email them at SageUniversity@Sage.com
or you can call them at 1.855.724.3864.

Here is a list of all the training videos that are included in this learning package:
Welcome
• Navigating Sage University
Guided Tour for New Users
• Introduction
• Navigation and Help
• Viewing Lists
• Processing Vendor Transactions
• Managing Inventory
• Processing Customer Transactions
• General Ledger Reports
• Financial Statements
• Utilities and Special Processing
Establishing a New Company
• Download Full Product Setup Package
• Installing Sage 50 - Single-User
• Installing Sage 50 on a Server
• Installing Sage 50 on a Workstation
• Installing Sage 50 using the Network Installation Manager
Introducing Sage 50 Accounting
• Navigating Sage 50
Establishing a New Company
• Creating a New Company
• Using the Setup Guide
• Backing Up Your Sage 50 Company Data
• Customizing Sage 50 with Global Options
• Setting Up User Security
• Setting up and Using Webmail
Setting up the General Ledger
• Entering General Ledger Defaults
• Maintaining the General Ledger Chart of Accounts
• Entering General Ledger Beginning Balances
Setting up Accounts Payable
• Setting up Vendor Defaults
• Adding Vendor Records
• Vendor Management Center
Accounts Receivable
• Setting up Customer Defaults
• Setting up Customer Statement Defaults

• Creating Sales Taxes

• Adding Customers
• Customer Management Center
What's New in Sage 50
• What's New in Release 2020.2
• What's New in Release 2021.0: New Features
• What's New in Release 2021.0: New Cloud-connected Experience
Assistance and Resources
• Sage Resources
• Sage Knowledgebase
• Join Sage City
• Tour Sage City

Sage 50–U.S. Edition: Get Started with Sage 50 Accounting Module 2 – Create Your Company
Create Your Company

Creating a company is one of the first tasks you will perform as you set up and configure Sage 50 for
your business.
• Create a company using the Create a New Company wizard.

Use the Create a New Company wizard to define initial company information, such as:
• Company name and address
• Company business structure (corporation, proprietorship, partnership)
• A set of general ledger accounts called the chart of accounts (COA)
• Accrual basis or cash basis processing
• Transaction posting method
• Fiscal year and accounting period structure
 To access the Create a New Company wizard, follow these steps:

1. On the Start window, click the Create a New Company icon. This will open the Create a New
Company wizard.
TIP: If a company is already open in the program, select File from the main menu bar, and then
select New Company.
2. The Introduction page explains what information will be needed to complete the wizard. Use the
Next button to advance through the wizard to create and configure your new company.

Enter Company Information

On the Company Information wizard page, enter your company address, telephone numbers, federal
and state employer tax ID numbers, and business type.
NOTE: The Business Type you select will determine the type of equity accounts that are initially
added to your Chart of Accounts. Equity accounts can be modified, if necessary.
Select a Method to Create Your Company

Depending on your version of Sage 50 Accounting, there can be up to five options for creating the chart
of accounts when setting up a company.
This course focuses on the first option only, which is the recommended approach for all Sage 50
customers.

Select a Business Type

When you select Use a sample business type that closely matches your company, you can choose
from any of the sample company types listed.
• Simplified types have a 4-digit account number.
• Detailed types have a 5-digit account number.
Whatever business type you choose, the chart of accounts is displayed on the right so you can view it.
TIP: Click the View details about a business type link to see an overview of the highlighted
business type, as well as related topics to assist you in setting up and customizing the selected
business type for your specific needs.
Even if the chart is not exactly what you want, you can always add, change or delete account
numbers after creating your company.

Choose an Accounting Method

There are two accounting methods, Accrual or Cash, from which to choose:
Option Description
Accrual The Accrual method records income when it is earned and expenses when they
are incurred. In other words, an expense is recorded when you enter the vendor
invoice, not when you pay it. Most companies use this method.
TIP: If you offer credit to your customers or sell inventory, you should
pick Accrual.
Cash The Cash method records income when cash is received, and expenses when
they are paid.
NOTE: Many not-for-profit companies choose cash basis because they

cannot anticipate revenue until it is received from pledges or
donations.
WARNING: You cannot change the accounting method once the company has been created.
Ensure that the correct accounting method is selected before continuing. You must rebuild your
company to change the accounting method.
If you are unsure which accounting method your company should use, consult your accountant
before selecting an accounting method.

Choose a Posting Method

Up to three posting methods are available – Real Time, Batch or SmartPosting:
Option Description
Real Time When you use Real-Time posting, transactions update the journals and General
Ledger when you click Save. This means that your reports always reflect the
most current financial information.
TIP: Most companies use this posting method.
Batch With batch posting, transactions are saved to Journals (e.g. Sales Journal), and
later posted to the General Ledger in a group. With this method you can print
registers and review a batch of transactions before posting them to the General
Ledger. You can select to post an individual journal or all journals simultaneously
• To post transactions to the General Ledger, select Tasks from the main
menu bar, select System, and then Post.
SmartPosting With SmartPosting, transactions are saved and then posted in the background
by a service. This provides better performance in a 10+ multi-user environment.
• SmartPosting is only available in Sage 50 Quantum Accounting.
NOTE: After new company setup is complete, the posting method can be changed at any time by
selecting the Edit Company Information Now button in the System navigation center, or by
clicking Maintain>Company Information.

Define your Fiscal Year

Sage 50 is structured to allow a maximum of two open fiscal years at any given time. Once you define
a structure for your fiscal year, the program will build your first two fiscal years.
For reporting purposes, your company’s fiscal year is divided into units of time called accounting
periods. You have two options:
Option Description
12 monthly accounting Select this option if you want a 12-month calendar year (January –
periods December).
TIP: Most companies follow this accounting period

structure.
Accounting periods that Select this option if the beginning and ending dates of your company’s
do not match the accounting periods do not match a calendar year.
calendar months
• You may want quarterly accounting periods or a 13-period
year.
WARNING: Once the company is created, you cannot change the fiscal year structure. If it
is incorrect, you must rebuild the company and redefine your fiscal year correctly.
Read the next page for additional details to consider.

Additional details
If you will begin entering data in your new company at some point after the beginning of your fiscal
year, here are two examples that provide additional clarification about defining your fiscal year
accurately.
Option Description
Calendar fiscal No matter when you start entering data, the accounting periods should still
year be set up so that January is Period 01.
• For example, you might not begin entering transactions into the
program until June, which is Period 06.
• If you were to make June your first accounting period, the system
would assume your fiscal year always starts in June and would
structure your fiscal years from June to May.
Non-calendar fiscal For this example, the fiscal year starts in July and ends in June.
year
• The accounting periods should be set up so that July is the first period
even if transactions will not be entered until October, which is Period
04
• If you were to make October your first accounting period, the system
would assume your fiscal year always starts in October and would
structure your fiscal years beginning in October and ending in
September.
Selecting a 12-Month Fiscal Year

If you selected the option 12 monthly accounting periods per year, your next step is to define the
beginning of your fiscal year.
The value entered will be the basis for your two open fiscal years.

Customizing the Fiscal Year

If you selected the Accounting periods that do not match the calendar months option, the following
questions appear on the custom Fiscal Year window:
Option Description
How many accounting Enter from 1 to 13 accounting periods.

periods do you want in a • If 13 is chosen, the periods in the list to the right default to 13
fiscal year? four-week periods.
• This is very common for retail businesses.
• Enter 4 for quarterly accounting periods.
Whatever number of accounting periods you choose, the accounting
periods created will always equal two years.
What is the start date of Enter the month and year of your first fiscal year.
your first fiscal year? • If the accounting periods shown in the list to the right still do not
match your fiscal year, you can modify each From and To date
as needed.
WARNING: You cannot change the starting date of your fiscal year or the number of accounting
periods after the Create a New Company wizard is completed. Ensure that the correct
information is entered before saving.

Finish
Click Finish to complete the Create a New Company wizard.
Learn more: View the training video titled Creating a New Company for additional instruction on
this topic.

Sage 50–U.S. Edition: Get Started with Sage 50 Accounting Module 3 – Company settings
Company settings
As you set up Sage 50 for your business, you’ll need to configure the company settings to ensure
you’re meeting your company’s specific requirements. There are some tools to help you through this
process, so we’ll start with those and then describe the settings.
• Use the Setup Guide
• Adjust Sage Advisor Settings
• Modify the Company Information window
• Change the accounting period
• Tailor user preferences
• Set up your default email account
• Configure the My Dashboard or Business Status window

New Company Setup tools

Before we start learning how to set up Sage 50, review this section to learn about two optional tools
you can use to assist you with your initial dataset creation:
• The Setup Guide can expedite your initial data entry.
• Sage Advisor settings provide contextual tips about specific areas in the product - such as definitions
or recommendations - when you’re likely to need that information.
Setup Guide
Immediately after completing the Create a Company wizard, your company opens automatically, and
the Setup Guide is displayed. The Setup Guide is a series of wizards that you can use to enter your
existing data from a previous accounting system. Information such as customers, jobs and inventory
can be entered more quickly as each wizard prompts you.
Using the Setup Guide is an optional step. However, if you do want to use it, we recommend that you
use it after reviewing this Optimizing Sage 50 Setup guide, to make sure you understand the
ramifications of your setup decisions.
NOTE: The Setup Guide window will always appear when you open your company until you
click Don’t show this screen at startup. Retrieve the Setup Guide from the Help menu anytime
you want to use it.

Using the Setup Guide

Click on any of the links on the opening page to start. In this example, we are clicking the Customers
link to enter customer records.
Use the grey menu bar at the top of the window to click through the customer-related options available in
the wizard. For customers, the Setup Guide allows you to create the following:
• Customer records
• Customer beginning balances, or outstanding invoices
• Customer defaults
• Sales taxes
• Statement and invoice defaults
Setup options
If you would like to learn more about customer-related features before using the Setup Guide, continue
through the next few modules in this guide.
• Customer records and related features are covered in detail, in Module 7. You can return to the
• Setup Guide anytime and use it.
• Vendor records are covered in Module 6.
• Each link in the Setup Guide will work like the Customers link. When you reach the end of a wizard,
there will be an opportunity to go to the next link or return to the start page.
Learn more: View the training video titled Using the Setup Guide for additional instruction on
this topic.

Sage Advisor settings

Sage Advisor is a tool that provides you with:
• Ongoing productivity tips based on your actions
• Getting started tips
• Setup Advisor on-screen assistance for creating records
You can turn Sage Advisor on or off, and you can control how much assistance is offered.
Go to Help>Sage Advisor>Settings to adjust the settings.
When a message appears, you can elect to save it for later or view immediately.
Getting Started tips appear as a panel on navigation windows and help with many common tasks:

Other Company settings

This section explains where to revise some of your initial setup choices, how to specify user
preferences, and how to tailor a dashboard.
Company Information window

Once your company has been created, you can go to the Company Information window to review,
add or edit information. Use this window to add or change:
• Your address or phone numbers
• Payroll identification numbers
• Posting method
• Payroll service options
 Follow these steps to access the Maintain Company Information window:

1. Select System from the main navigation panel.
2. Click the Edit Company Information Now button located under Company Maintenance. This will open
the Maintain Company Information window.
• Or, click the Maintain menu and then select Company Information.
3. Use this window to add or modify company name and address information, or ID numbers.
4. Use this window to change the posting method and view the path to your company folder in the
Directory field.
NOTE: To understand how Sage 50 creates your company folder name, refer to KB 14960.
TIP: Understanding your company folder name and how it is derived will be key to your
understanding of restoring data into a new company, in Module 9.
Change Accounting Periods

After the company is created, the current accounting period is displayed in the system toolbar on the
Sage 50 desktop.
When should you change the accounting period?

 You decide when the accounting period changes.
 It is not automatic.
 Normally, you will change the accounting period each month, when you are ready to switch to a new
month:
 You can change the accounting period to coincide with the system date.
 You can leave a month open for a few days before advancing to the next month.
 You can manually change to any accounting period within your two open fiscal years at any time.
 This is a single-user task.
 No other users can be logged in when the accounting period is changed.

 Follow these steps to change the accounting period:

1. You can click on the accounting period to open your list of open accounting periods. At any given
time, you will have access to all the open accounting periods.
2. Optionally, select Tasks from the menu bar, System, and then Change Accounting Periods.
3. In the Change Accounting Period window, highlight the accounting period you want to change to
and then click OK.

How dates are used

The current accounting period, in conjunction with the system date, is used to process transactions,
generate reports, and reconcile accounts in the following ways:
In transactions
• If the system date (typically “today’s” date) is within the current accounting period, a transaction
automatically defaults to the system date. In the screenshot below, the default transaction date
would be 01/09/20.
• If the system date is not within the current accounting period, a transaction defaults to the first day of
the current accounting period. In the screenshot below, the default transaction date would be
12/01/19.
In reports
• When you double-click to open any report, the default date or dates used are based on the current
accounting period.
In reconciliations
• When you use the Account Reconciliation window, uncleared transactions through the end of the
current accounting period are initially displayed.
Examples
Consider a company with a fiscal year that starts in January and ends in December. The current
accounting period is Period 4 - 4/1/20 - 4/30/20, and the current system date is 4/15/20. The following
events occur:
• When a transaction is entered, the date will default to 4/15/20 because the system date is within the
current accounting period date range.
• When the General Ledger report is previewed, it will default to the date range from 4/1/20 to 4/30/20.
• When the Account Reconciliation window opens, only uncleared transactions through 4/30/20 are
initially displayed.

Once all transactions for April are entered, use the Change Accounting Period window to advance to
May.
Click the period information on the system toolbar to access the Open Accounting Periods window:
Then, the current accounting period will read: Period 5 - 5/1/20 to 5/31/20.

Global Options
The Maintain Global Options window is used to tailor your preferences for various aspects of the
system.
• In a multi-user environment, each user has their own set of preferences.
Many of these options should be considered when first setting up your company, but you can change
them at any time.
• To change or view your options, select Options>Global from the menu bar.
Accounting tab
This tab allows you to tailor the following accounting-related items:
Option Description
Decimal Entry Set your preference for entering and displaying numbers.
• If you want to manually enter decimal points each time, choose
Manual.
• Otherwise, choose Automatic, and then select the number of
decimal places you want entered automatically.
This option is most often used by those whose primary function is data
entry.
Number of Decimal These options set the default number of decimal places used for
Places quantities, unit prices, and standard fields. You can select from zero to
five decimal places. The default is two.
Accounting tab, continued

Accounting tab, continued

Option Description
Hide General Ledger Choose whether to display general ledger account numbers on task
Accounts windows. You can hide general ledger accounts in Accounts
Receivable, Accounts Payable, and Employee/Payroll task windows.
TIP: After a new installation or upgrade, you may need to revisit

this setting.
Warn if a record was This indicator will remind you to save your changes before exiting the
changed, but not window.
saved
Hide inactive records Select this check box if you don’t want to display inactive records, such
as customers, vendors, inventory items or GL account numbers in
lookup lists.
Recalculate cash Choosing this option can affect system performance.

balance automatically When writing checks or when entering receipts, you have the option of
displaying a dynamically recalculated cash balance whenever you
access the window.
Instead, you can place your cursor on the dollar sign ($) to calculate
the cash balance on request.
Secondary Sort Choose to sort either by Reference Number or by Posting Order.

Option When you choose to sort transactions by date on reports and lists, the
choice you make here determines the secondary sort criteria.

General tab
Improve Performance
Using these options results in faster report generation and item lookup lists display more quickly.
Option Description
Do not print total By selecting this option, you skip the initial calculation of the total
page… number of pages prior to printing. Instead of displaying "page 1 of 12"
in the report header, your reports will display "page 1" or "page 2".
Do not show quantity Select this to speed up the inventory item lookup list. This skips the
on hand… routine to calculate each item’s current quantity on hand.
Recommended for companies with a very large number of inventory
items.
Update My Dashboard Controls how often data is refreshed on navigation centers and
and… dashboards.
Update reports If checked, any open reports are automatically refreshed whenever a
automatically… record or transaction is saved. This can slow down the save process.
Update reports Enable this option instead of the previous option, to preserve system
when I set … performance. Open reports are updated only when you set focus to them.
Remember my login… If you often switch back and forth between companies, and you use the
same Username and Password, this option will save you time. This
option only works when opening a different company within the same
session; if you close Sage 50 and reopen it, you'd have to log in again.
Do not save last When checked, lists will always default to the Current Period on access
selected date … instead of the last date range selected.

Line Item Entry Display

You can set whether one or two lines will appear in the list distribution box of various task windows,
such as sales invoices, purchase orders, and general journal entries.
For general journal entries, the second line also displays whether the account chosen will be
increased or decreased. This additional information can be very useful.
If you Description
select…
2 Line The second line will show description information about the codes in the first line and
is never used for data entry.
General journal entry -
Invoice -
1 Line You will see a line with no detail; this will allow more lines of data to display at a time.
General journal entry –
Invoice –

Smart Data Entry

Option Description
Automatic Select this option if you want to fill in the remaining text while you’re entering
field information that is already stored in a record. For example, if you begin entering
completion an existing Vendor ID, the system will fill in the remainder.
Drop-down Select to see the list associated with each field that has a lookup button. Anytime
list displays you type or press the spacebar in a field that has an associated list, the list will
automatically appear.
Automatically Select this option if you want to automatically create IDs for records when you
create IDs… enter them. If you select this option, you can skip the ID on a record window
when you create a new record, for instance, a new customer or vendor.
Reset
Click the Reset button to reset all one-time messages.
This allows you to view those messages again that were previously marked “Do not display this
message again.”

Sage Partners tab

Set a security level that determines how Sage 50 Partner applications communicate with your company
data.
Level Description
Low All Sage 50 Partner applications run automatically. These programs will be able
to exchange data with your company database without prompting you.
Medium This is the default and recommended setting.

When you start a Sage 50 Partner application you will receive a warning message
that allows you to choose whether or not you want the application to run.
High Sage 50 Partner applications will not run.
NOTE: Sage 50 Partner applications are third-party applications that can be added on to the
system. For example, you may want to use a barcoding application to track inventory, or a
timecard application for payroll.
Spelling tab
Tailor your Spell Check options here:

Default Email service

When you want to email Sage 50 transactions or reports to your customers, you can use the traditional
desktop email services such as Outlook or you can send emails using a web-based email service such
as Gmail or Yahoo.
Each user must define the default email service that Sage 50 will use:
• If nothing is defined, Sage 50 will default to Outlook or any other desktop email service installed.
• If nothing is installed, you will be prompted to define an email service.
 Follow these steps to define your email service:

1. Go to the System navigation window and click Edit Email Setup to start.
2. On the Email Setup window, make your selection. No further action is required if you are using a
desktop email program.
3. To define a webmail account, Click the Use a webmail account radio button, and then click the link to
Add account information.
Define your email service, continued

4. Select a service from the dropdown list and enter the email address you will be using:
NOTE: If you are using Gmail or Yahoo, you will also need to access those accounts and
authorize Sage 50 to send email through your account.
5. When you select Other, the window expands to include fields for the SMTP server and port for the
email service.
TIP: Google has this information.
6. Click OK to save.
7. On the Email Setup window, you can also elect to be blind copied (BCC) on each email sent.

8. It is easy to make changes to your email service or delete the account and add another one. Return
to the Email Setup window and click Edit or Remove.

Tailor standard email messages

The Email Setup window is also the location of the standard transaction email messages:
 Follow these steps to customize email messages for some or all the standard
forms:
1. Click Maintain>Email Setup.
2. Highlight any form to make the desired changes.

 There is only one set of email text, customized or not, per company.
3. Click OK once when you are finished with changes on all the forms.

Business Status/My Dashboard

The Business Status window is a customizable dashboard in the Pro and Premium editions of Sage
50. The Quantum version is called My Dashboard. Both can be designated as the default opening
page and both can be tailored to display information of interest to a specific user.
Business Status
The Business Status window has eight available information sections that can be selected and sorted
according to the user’s preferences. Click Customize to make your selections. Use the Move
Up/Move Down buttons to reorder the sections.

My Dashboard (Quantum)
When you create a new Quantum company, it defaults to a blank My Dashboard window:
Features
Click Customize to begin. You can display all available sections or only a single category at a time.
Use the Move Up/Move Down buttons to reorder the sections.
The My Dashboard window is not limited to a single page. Users can customize multiple My
Dashboard windows for different purposes. Each window is considered a Tab. The Tab Name and the
order of the tabs are defined by you.

Sage 50–U.S. Edition: Get Started with Sage 50 Accounting Module 4 – Understanding Records
Understanding Records
Learning basic concepts and terminology when you first set up the software will help you quickly
become more confident using Sage 50.
• Distinguish records from transactions
• Recognize the actions common to all record types

Records Overview
There are several record types in Sage 50. They are created for:
• GL accounts
• Vendors
• Inventory items
• Customers
• Employees
• Jobs, phases, cost codes
Records provide supporting details for accounting transactions. For example, if you are invoicing a
customer, you need only enter the customer’s record ID and the system populates your invoice with the
full name and address information you have set up for this customer. Or, when you use a GL account
number on a transaction, its record also contains the account description and whether it is an asset,
liability, income, expense or other type of account.
Record data is created one time and the information is used repeatedly.
Records themselves do not generate accounting entries. They contain information that supports
accounting transactions such as balance information and static information such as descriptions,
addresses, etc.
Sample GL account record

Record defaults
All record types have some default settings associated with them that are preset for you. As part of the
setup process, you should always review the default choices available and potentially tailor them to
best fit your business needs.
How do default settings work?

When you create a new record, there are default settings that will automatically populate the
record. Defaults are intended to apply to most of the records you will be setting up. However, you
can override them as needed.
For example, you have elected to use payment terms of Net 30 days on sales invoices. Whenever you
create a new customer record, that customer is assigned the default payment terms. However, you
have one new customer whose credit history is unknown, and you want to set their payment terms to
COD for the first 6 months, until they have established a good working relationship with your company.
In this case, you simply override the standard default terms for that customer. You can modify the
settings again at any time.
What are the benefits of using default settings?

Default settings allow you, the business owner or office manager, to make some initial setup decisions
about how records will process most of the time. Each time a new record is created, you do not need to
make those decisions again.
If you have employees who are creating records for you such as adding new vendors or customers, they
do not need to ask about the setup each time.
Default settings make it easier and quicker for you to create new records.

How do I find the default settings?

Click on the Options menu at the top of any navigation center and scroll down to Default Information
to see the entire list. Although there are other ways to access these, this method shows you all the
default types in one place, and it is easy to remember.
Record ID
All records, regardless of the record type, will use the following identification:
Option Description
Record ID This is a required field.

• 20 characters, alphanumeric
• The only exception to this is the GL Account ID, which is
15 characters.
• It is a unique identifier and is the key to the record.
• Duplicate record ID’s are not allowed within the same record type.
• It is often an abbreviation of the full description.

Record toolbar
When you create new records, there will be a toolbar at the top of the record window. All records will
use some or all the following toolbar menu items and the treatment will be the same, regardless of
record type.
Option Description
Close Exits the window.
New Provides a blank window for entering a new record.
Copy Copies the displayed record. After the copy is created you can edit the copied
record as needed.
List Opens a list of the records currently set up in your company.
Save Saves the currently displayed record.
Save & New Saves the currently displayed record, and then provides a blank window for
entering a new record.
Delete Deletes the displayed record, but only under the following conditions:
Only records with zero activity can be deleted*
Change ID Allows you to change the record ID of the displayed record.

When you change a record ID, all data records and transactions associated with it
will reflect the new ID, including current and past transactions.
Tasks Click to view a list of transactions that you can launch from this window.
Letters Click to select a form letter or e-mail.
Reports Provides quick access to a list of relevant reports.
Attachments Click to add, view, print, rename, or delete attachments to a record.

Documents can be attached to a record, such as a contract or insurance
information, for easy reference later. Attachments can be Word files,
spreadsheets, scanned documents or images.
NOTE: Attachments will increase the record size and the size of
your backup files.
Event Log notes about telephone calls, meetings, letters, or any other type of activity.
Log Displays events recorded over a range of time you specify.
Help Opens Help for the window.
NOTE: * When you cannot delete a record, mark it Inactive and it can be purged later.

Sage Advisor settings

When you create new records, you can add a Sage Advisor panel to your record windows that
provides specific, just-in-time information about the record setup.
On the Sage Advisor Settings window (click Help>Sage Advisor>Settings), ensure the last
checkbox, under Setup Advisor, is checked.
When you access a record, there will be a panel on the right-most edge of the record window labeled
Advisor. Click to open the panel. Specific information about the displayed window, including
recommendations and definitions, is provided.
Here is an example of the Advisor panel for a Customer Record Payments & Credit tab:

Changing a Record ID
You can modify record IDs for GL accounts, customers, vendors, inventory items, employees, jobs, phases,
and cost codes. This is needed for making corrections or updating an ID when a business change has
occurred.
When you change a record ID, all data records, historic transactions, and new transactions associated with
the changed record will automatically reflect the new ID.
 Follow these general steps to change a record ID:

1. Open an existing record in its maintenance window.
 For example, to change a customer’s ID, bring up the customer record on the Maintain
Customers/ Prospects window:
2. Click the Change ID toolbar button.
3. Enter a new record ID and click the OK button.

Activity
Many new users mistakenly believe they can type over a record ID to change it.
These activities allow you to see the difference between typing over a record ID and using the Change
ID button.
You can use the sample company, Bellwether Garden Supply, to practice.
 Activity 1 – Key over a customer ID to change it.

1. Click File>Open Previous Company and select Bellwether Garden Supply.
2. You do not want to keep the other company open.
3. Access the Customers & Sales navigation window.
4. In the Customer List displayed on the navigation window, select Roberts and open the customer
record.
5. In the Customer ID field type Robard and save the record.
6. Close the Maintain Customers/Prospects window.
7. On the Customers & Sales navigation window, click the Refresh button.
8. Scroll down to Roberts again in the Customer List.
9. What happened to the list when you changed the Customer ID to Robard? Answer:

 Activity 2 – Use the Change ID button to change a customer ID

1. Scroll down to Robard again in the Customer List.
2. Open the record and click the Delete button. Click Yes to confirm the deletion.
3. Close the record and return to the Customer List.
4. Scroll down to Roberts again in the Customer List and open the record.
5. Click Change ID and enter Robard in the New Customer ID field. Click OK.
6. Close the Maintain Customers/Prospects window.
7. On the Customers & Sales navigation window, click the Refresh button.
8. Scroll down to Robard in the Customer List.
9. What is different from the first activity? Answer:

•

Sage 50–U.S. Edition: Get Started with Sage 50 Accounting Module 5 – General Ledger accounts
General Ledger accounts

Your general ledger is the hub of your Sage 50 financial information. Review this lesson to learn how to
establish your chart of accounts and enter beginning balances.
• Establish General Ledger processing defaults
• Maintain the Chart of Accounts
• Enter General Ledger beginning balances

Introduction to the General Ledger

The General Ledger stores information relating to all financial activity for your company. All business
transactions are posted to the set of accounts that make up the General Ledger. This set of accounts,
called the Chart of Accounts, acts as a holding place for every amount you want to track in your
business. Financial statements are generated from these account balances.
The Banking navigation center is used to access most activities for the General Ledger, and
specifically, the Chart of Accounts.

Set up General Ledger defaults

Before you begin using your chart of accounts, you should look at the default settings for the
general ledger and confirm the settings or change them.
 Follow these steps to access General Ledger Defaults:

1. Click on the Options menu at the top of any navigation center and scroll down to Default
Information.
2. Select General Ledger.
Rounding account
Financial statements can be presented rounded to the nearest thousands of dollars, and that can result
in a rounding adjustment.
Determine the account to which rounding adjustments should be posted.
TIP: Sage recommends you use the Retained Earnings account, but any account can be
selected. Check with your accountant if you are unsure of which account to use.

Account Segments (Sage 50 Premium and higher)

For reporting purposes, you can break out your account numbers by department, cost center, location,
or any other reporting segment.
• Define up to 15 characters, including the account ID itself.
• Account ID does not have to be the first segment:
 For example, Location-Account-Department-Sales Rep
• Use segments on all accounts or only selected accounts:
 Open Bellwether Garden Supply and view the Chart of Accounts report under General Ledger
reports.
 Notice that not all accounts have a department code.
Learn more: For more detailed information about Account Segments, view the training video
titled Entering General Ledger Defaults.

Chart of Accounts (COA)

Your chart of accounts was created when you created your company and is based on a business type that you
identified as like your own. However, you can easily add, rename, or delete some of the accounts to tailor the
COA more specifically to your business.
Standard Chart of Accounts structure

You can use both numbers and characters in your chart of accounts numbering system. The standard Sage
50 chart of accounts use only numbers for the Account ID, but you can add accounts that include alpha
characters. You can also modify existing account IDs to include alpha characters.
The Sage 50 Chart of Accounts uses a traditional account structure as shown below. This example is based
on a 5-digit account number. There is no difference if you are using a 4-digit account number except the final
zero is truncated.
Account Range Account Type
10000 Assets - Cash, Accounts Receivable, etc.
20000 Liabilities – Accounts Payable,
30000 Equity
40000 Income
50000 Cost of sales
60000 – 70000 Expenses
80000 Other income
90000 Other expenses
TIP: As noted above, the first number of an account ID categorizes the account.
This means that anyone viewing your financial information, even those who are unfamiliar with
your business, are more easily able to interpret your financial data. For example, a bank or a
potential investor, or even a new employee, has a better chance of understanding your financial
information simply because of the logic built into the account IDs.
For this reason, you should attempt to preserve that logic and incorporate it when creating new
accounts or when modifying existing accounts.
If you want to use alpha characters, it is best not to use them as the first character of an account
ID. Alpha characters sort after numeric characters and may not sort within the range stated
above.
It is always best to group the same type accounts together.

Maintain Chart of Accounts

Before transactions have been entered, the COA is the most flexible. After transactions have been
entered, any accounts used in transactions can no longer be deleted. Instead, they must be marked
Inactive. Once those transactions are in a closed year and the account has a zero balance, they can
be purged.
The Maintain Chart of Accounts window is used to enter new accounts, edit existing accounts, and
enter account beginning balances.
 Follow these steps to access the Maintain Chart of Accounts window, and
make changes to your COA:
1. Select Banking from the navigation center pane on the left of the program.
2. Click the Chart of Accounts icon and then select New Account from the menu.
3. To create a new account, enter a new Account ID and Description.
4. Select the appropriate Account Type and Save.
5. To modify or delete accounts, select the Account ID from the drop-down list.
6. Make changes as needed or click Delete if the account will not be used.
TIP: Remember to use the Sage Advisor panel that can provide you with immediate, specific
information about account IDs. Place your cursor on any field or tab and pertinent information
displays.
Consult Module 4 – Records Overview in this guide for toolbar definitions.

Account Types
Account types are used to group similar accounts together on financial statements, and to determine if
an account carries a debit or credit balance.
Balance Sheet account types

Account Type Definition
Accounts Payable All payables accounts
Accounts Receivable All receivables accounts
Accumulated Depreciation The cumulative amount by which fixed assets have been reduced
Cash All cash accounts
Equity – Doesn’t Close Equity accounts that are maintained separately from Retained
Earnings
Equity – Gets Closed Equity accounts that close into Retained Earnings at year end
Equity – Retained Earnings Equity account into which income statement accounts and some
other equity accounts close at year end
NOTE: There can be only one retained earnings account.
Fixed Assets Capital accounts such as furniture, equipment or vehicles

(Depreciable assets)
Inventory Goods acquired for resale
Long Term Liabilities Liabilities with a duration longer than one year
Other Assets Assets other than capital assets
Other Current Assets Assets with a duration of one year or less
Other Current Liabilities Liabilities with a duration of one year or less
Payables Retainage The amount withheld from A/P until final approval received; used
with job costing (Quantum only)
Receivables Retainage The amount withheld from A/R until final approval received; used
with job costing (Quantum only)
Income Statement account types

Account Type Definition
Cost of Sales Expenses directly attributable to product sales
Expenses Costs that are related to the operation of the enterprise, and
indirectly related to sales
Income Revenue

Required Accounts
For certain modules, there are some required G/L accounts. Here are the required accounts by
module:
Account Type Required Accounts
General Ledger • Equity - Retained • Retained Earnings Rounding

Earnings Account
Accounts Payable • Accounts Payable • Discounts Taken

(Accrual only)
• Cash (Disbursed)
Accounts Receivable • Accounts Receivable • Sales Tax Payable

(Accrual only) • Interest Income
• Cash
• Freight
• Discounts Allowed
Inventory • Sales Revenue • Cost of Goods Sold

• Inventory
Payroll • Cash • All Deductions (Payable)

• Salaries and Wages • All Allowances (Expense)
Learn more: For additional information, view the training video titled: Maintaining the Chart of
Accounts.

Account beginning balances

Beginning balances are the ending balances from your previous accounting system or business. These
amounts are needed to establish your initial general ledger balances accurately.
You can record general ledger beginning balances in any period in companies that have no posted
transactions. Typically, account beginning balances are entered in the period before the first period in
which transactions are entered in Sage 50.
• For example, if you plan to begin entering transactions in Sage 50 on January 01, you should enter
your account beginning balances as of December 31.
WARNING: After one or more transactions have been posted, account beginning balances can
only be recorded as prior-period adjustments to Retained Earnings. The system treats prior
period adjustments as if they were errors from the prior year.
Where can I find all my beginning balances?

If you will begin entering transactions in Sage 50 on the first day of your fiscal year, you can use your
final balance sheet from the previous accounting system, or from your accountant, to enter beginning
balances.
If you will begin entering transactions in Sage 50 at some point other than the first day of your fiscal
year, you will need the final balances from both the Balance Sheet and the Income Statement.
If your company is new, you may not have beginning balances. Check with your accountant if you are
unsure.

 Follow these steps to access the Chart of Accounts Beginning Balances

window:
1. Select Banking from the navigation pane on the left of the program.
2. Click the Chart of Accounts icon and then select New Account from the menu.
3. Click the Account Beginning Balances button, and the Select Period window displays.
4. Scroll down and select the appropriate period for your beginning balances, usually the period just
before your Period 1.
NOTE: In this example, the company plans to begin using Sage 50 on March 01 and selects
February 28 to enter beginning balances.
5. On the beginning balances window, enter the balance beside the appropriate account number:
 Detailed information on the next page explains how to enter the data and some pitfalls to avoid.
Understanding the Chart of Accounts Beginning Balances window

The Chart of Accounts Beginning Balances window lists each account ID, description, and account
type.
Depending on the account type, you will enter the balance in the column provided.
• The Beginning Balances window indicates which column to use by making the other column
unavailable.
• If an account, for example, has a negative balance when it is normally positive, add a minus sign to the
balance.
• Ensure, when you are finished entering balances, that the totals for the two columns match, and the
Trial Balance amount equals zero.
WARNING: If the Trial Balance amount shown at the bottom of the Chart of Accounts
Beginning Balances window is not zero, then there is an out-of-balance situation. If you click
OK with an out-of-balance situation, the following message appears:
If you click OK to this message, a Beginning Balance Equity account is created in the equity
section of your chart of accounts, and the total out-of-balance amount posts to this account. The
system will treat the Beginning Balance Equity account as your Retained Earnings account.
This keeps your books in balance, and you can enter and post transactions; however, this
account appears on General Ledger reports and on the Balance Sheet until the amount in it is
allocated to another account.
It is recommended that you click Cancel to return to the Chart of Accounts Beginning
Balances window. Then, locate and correct errors made when entering your account beginning
balances.

Beginning balances for sub-ledgers

The beginning balances just discussed are General Ledger balances. They will appear on your
Balance Sheet and possibly, on your Income Statement. The balances for the 3 accounts listed below
require additional supporting details to ensure your system is accurate and “in balance.”
• Accounts Payable
• Accounts Receivable
• Inventory
In each case, you must define the details that make up the corresponding GL beginning balance.
For Accounts Payable and Accounts Receivable, you must enter the outstanding invoices that comprise
their respective balances. These would be the invoices issued before the first day of your fiscal year in
Sage 50 that have not been paid or received.
For your Inventory beginning balance, you must enter the quantity and cost of each item on hand as of
the first day of your fiscal year. Again, to be correct, the details of your inventory on hand must match
the Inventory GL beginning balance.
More guidance will be provided in the sections about creating vendor and customer records.
Learn more: For additional information, view the training video titled: General Ledger
Beginning Balances.

Sage 50–U.S. Edition: Get Started with Sage 50 Accounting Module 6 – Vendors
Vendors
Sage 50 tracks all your vendor information so you can manage your payables and generate
government required forms.
• Modify vendor defaults
• Create vendor records
• Enter vendor beginning balances

Vendors & Purchases navigation center

The Vendors & Purchases navigation center provides easy access to vendor records and other vendor-
related transactions, such as purchase orders, bills and payments. The center also provides quick access to
recently used accounts payable reports and aging information.

Setting up Vendor Defaults

Tailoring Vendor Defaults to your business minimizes data entry and ensures consistency for your
vendor-related activities.
New employees will experience less uncertainty and have fewer questions for you because these basic
decisions have already been made.
Vendor defaults will apply to most of your vendors and purchase transactions. When the defaults do
not apply, you can override them.
 To access Vendor Defaults, follow these steps:

1. Select Vendors & Purchases from the navigation center pane on the left of the program.
2. Click the Vendors icon and then select Set Up Vendor Defaults from the menu.

Vendor Defaults window

Each tab is explained below.
Task Description
Payment Terms Under Standard Terms, you select the credit terms most often assigned by
your vendors. You will specify the following:
• Number of days extended to you to pay your invoices
• Any early payment discounts
• Amount of your standard credit limit
• These standard terms become the basis for new vendors and can be
overridden for individual vendors.
NOTE: When you change the payment terms on this tab, the default
terms for vendors that use standard terms change automatically.
In the GL Link Accounts section, a default Expense Account can be

identified to serve as the default expense account for all vendors.
If left blank, the Expense Account for new vendors is also blank and must be
manually assigned for each specific vendor.
For payment terms that allow discounts, the assigned Discount GL Account
is used to record the discount amounts.
Account Aging Select whether invoices will be aged by invoice date or due date.
• By Invoice date: the aging report shows the age of each invoice
• By Due date, the aging report shows how overdue each invoice is
NOTE: Many companies age by due date.
You can modify the Aged Payables report by changing the number of days in
each aging category and specifying new columnar headings.
Custom Fields Do you have vendor data to track that is not normally carried in Sage 50?
You can customize up to five additional fields for maintaining information on
your vendors.
• Many reports can be filtered using these fields.
• Enable fields and enter descriptions that will appear on the Maintain
Vendors window.
Pay Methods There are 20 available fields for you to define the different ways you pay your
vendors.
You can filter reports by pay method and you can also specify which payments
should be included in 1099 calculations by selecting the appropriate payment
methods while printing 1099s.
1099 Settings The settings on this tab allow you to define the way the program tracks and
reports payments made to 1099 vendors.
NOTE: Read the following section for more detailed information about
using 1099s.

1099 Processing
The only entity that can receive a 1099 in Sage 50 is a vendor.
Anyone who should be issued a 1099 must be set up as a vendor. The system supports two types of
1099s:
 1099-INT
 1099-MISC
If you are issuing other types of 1099s, those payments will not be automatically tracked in Sage 50 for
1099 reporting purposes.
As delivered, Sage 50 defaults to reporting every payment made to a 1099 vendor, to Box 1 or Box 7,
depending on the 1099 type selected.
Sometimes a payment made to a 1099 vendor is not income to that vendor and should not be reported
on a 1099. You can click in the 1099 Settings column beside any G/L account and change the value
to None, if payments charged to that account are not considered income to the vendor.
You can also change to a different box number on the form.
TIP: If you need to issue other types of 1099s, consider creating custom fields for tracking the
types. You will need to issue them manually, but at least you will have a record of who receives
what type. Custom fields can be added to reports.

Check Printing defaults

Two check printing options can help you conserve your check stock, especially when you are printing
checks in batches.
• You can request a warning message before printing a zero-dollar check.
• When you write a check and the stub details will not fit on one check stub, you can print the ‘stub
overflow’ on plain paper instead of voiding additional sheets of check stock just so you can use the
stubs.
This is a 2-step process. When the system completes the check printing, you will receive a message to
load plain paper into the printer for printing the additional check stub details.
Learn more: For additional information, view the training video titled: Setting up Vendor
Defaults.

Add Vendor records

The Maintain Vendors window is used to enter, change, and store information about the people and
companies from whom you purchase products and services.
As you add vendors, you will notice the default information populating the record and you can change it
as needed.
TIP: Remember to use the Sage Advisor panel to provide you with immediate, specific
information about setting up vendors. Place your cursor on any field or tab and pertinent
information displays.
Consult Module 4 – Records Overview in this guide for toolbar definitions or position your
cursor on the toolbar item.

Features overview
In addition to the name, address, telephone information, the vendor record can be an access point to
transactions and reports. Other information carried on the vendor record includes:
• Vendor type code to categorize vendors into smaller, similar groups
• 1099 Type
• Default G/L expense account
• Monthly history of sales and receipt totals
• Five available custom fields
• Twenty available remit-to addresses
• Assigned purchase representative
• Tax ID number
• Payment terms
• Quantum only – track subcontractor insurance policies/expirations
To access the Maintain Vendors window, access the Vendors & Purchases navigation center and click
the Vendors icon and select from the menu.
TIP: If the vendor record already exists, you can also click the hyperlink in the Vendors list.
Learn more: For additional information, view the training video titled: Adding Vendor Records.

Vendor beginning balances

If you entered an Accounts Payable total on your Chart of Accounts beginning balances, you need to
itemize the unpaid vendor invoices that make up that total.
NOTE: For this example, we show two unpaid invoices comprising the total Accounts Payable
balance. The number of outstanding invoices will vary from one company to another.
Opening
Pre-Sage 50 Pre-Sage 50 Accounts
Unpaid Unpaid
Invoice 1 Invoice 2 Payable
balance
• Beginning balance invoices are vendor invoices that are unpaid as of the date you begin to use the
program.
• Since these bills were recorded to the appropriate accounts in your previous accounting system,
beginning balance invoices do not generate accounting entries.
• The payment transaction that resolves these outstanding invoices does generate accounting entries.
• The balance of the Accounts Payable account in the General Ledger should equal the total amount of
the vendor beginning balances prior to entering any new payables transactions.

 To record vendor beginning balance invoices, follow these instructions:

1. On the Vendors & Purchases navigation center, double-click any of your newly created Vendor IDs in
the Vendors list.
TIP: If you do not see all your vendors, click the Refresh button on the system toolbar at the
top of the navigation window.
2. On the Maintain Vendors window, select the History tab and press the Vendor Beginning Balances
button at the bottom of the tab.
3. Enter each outstanding invoice for the vendor and save when you have entered everything for the
vendor.

4. Before exiting the window, click the Vendor Balances tab to select the next vendor who has
outstanding invoices. Double-click the highlighted vendor and repeat the previous step until all the
outstanding invoices have been entered.
Confirm beginning balances

Before moving on to the next module, confirm that the total of your outstanding invoices equals the
beginning balance total entered for the Accounts Payable account. You can verify this with two of the
standard reports.
Assuming you have only entered beginning balance data, an Aged Payables report total should match
the Accounts Payable total on your Trial Balance for the same date.
 Follow these steps to view the two reports and confirm the accuracy of your
data
1. Click on the Reports & Forms menu at the top of the program and then click Accounts Payable.
2. Double-click Aged Payables to open the report.
3. You will see the invoices listed individually, and a total at the end of the report.
4. Leave the Aged Payables report open.
5. Return to the list of Aged Payables reports but highlight General Ledger to the left of the list.
6. Double-click General Ledger Trial Balance to open the report.
7. Find the Accounts Payable balance and compare it to the total of the Aged Payables report.
8. If the two amounts do not match, determine which one is correct, and correct the other.
 For example, if you are sure that you have entered the individual invoices correctly, you must
adjust the Chart of Accounts beginning balance for the Accounts Payable account.
9. When the two amounts agree, you are ready to go to the next module.

Sage 50–U.S. Edition: Get Started with Sage 50 Accounting Module 7 –Customers
Customers
Sage 50 tracks customer information to help you generate invoices/statements and manage your
receivables.
• Modify customer defaults
• Define statement and invoice defaults
• Set up sales taxes
• Create customer records
• Enter customer beginning balances

Customers & Sales navigation center

Use the Customers & Sales navigation center for easy access to all customer record maintenance and
common sales tasks, such as invoicing and receipts.

Set up Customer Defaults

Tailoring Customer Defaults to your business minimizes data entry and ensures consistency across
your customers.
Your new employees will experience less uncertainty and have fewer questions.
Customer defaults will apply to most of your customers and sales transactions. When the defaults do
not apply, you can override them.
 To access Customer Defaults, follow these steps:

1. Select Customers & Sales from the navigation center pane on the left of the program.
2. Click the Customers icon and then select Set Up Customer Defaults from the menu.
Terms and Credit tab

 Review the Terms and Credit tab and make your choices about how you want
to use the default settings.
This selection should be what you expect from most of your customers.
1. Decide if you will set a credit limit and, if so, what Credit Status to use.
FOR MORE INFORMATION: Click Help on the Customer Defaults window, then click Learn
More > Terms and Credit to read about each Credit Status and how it is used.
2. If you offer early payment discounts, you can specify the discount percent and number of days here.
Discounts are automatically calculated on the Receipts window, if eligible.
3. The GL Link Accounts section allows you to specify the default Sales and Sales Discount accounts
for to be used on all sales transactions. You can override the default Sales account for individual
customers.

Account Aging tab
 Make your selections for Account Aging:

NOTE: This tab is identical to the Vendor Defaults tab. You can elect to use the same criteria
for Accounts Receivable that you are using for Accounts Payable.
1. Decide how sales invoices are aged:

 If you age by Invoice date, this will show how old each customer invoice is.
 If you age by Due date, this will show how overdue each customer invoice is.
2. You can change the columns on the Aged Receivables report to reflect other Aging Categories than
the standard 30, 60, and 90 that most companies use.

Custom Fields tab
Use Custom Fields to set up any customer data that is not carried in Sage 50
• Customize up to five additional fields for customer-related information.
• Reports can be filtered by custom fields.
• Create custom Field Labels by first clicking the Enable checkbox, and then enter up to 16 characters
of data.
• Field Labels are displayed at the bottom of the Maintain Customers window and each allow s up to
30 characters of data.

Finance Charges tab
Finance charges are not calculated automatically. They must be enabled and defined first. After
finance charges are set up, a separate task is invoked to calculate the charges.
 Follow these steps to enable and configure finance charges:

1. Click the checkbox to enable finance charges.
2. Specify the number of days an invoice must be overdue before finance charges will be calculated.
 The system uses the information on the Account Aging tab to determine the number of days
overdue:
 If you age by invoice date, the system calculates the difference between the current system date
and the invoice date.
 If you age by due date, the system calculates the difference between the current system date and
the due date.
3. Set two different interest rates, based on an initial balance and amounts above, or you can use the
same rate in both cases.
4. Specify the minimum finance charge if other than $0.50, which is the default.
5. You can elect to compound finance charges by charging interest on the unpaid finance charges.
6. Read and select the type of messaging you prefer.
TIP: You can continue setting up your system without configuring finance charges. Once you are
up and running, you can return to customer defaults anytime and set up finance charges.

Pay Methods tab
 List the payment types you accept here:

1. The Payment Methods entered here will populate the drop-down list for entering sales receipts.
 Reports filtered by Payment Method are available.
 Select how customer receipts should be grouped for Account Reconciliation

purposes
1. The Deposit Ticket ID is a field that the system uses for grouping receipt transactions.
 All receipts with matching Deposit Ticket IDs are added together and their total appears on the
Account Reconciliation window.
 This feature allows you to group receipts to match the receipt totals on the bank statement.
2. In Receipts will populate the Deposit Ticket ID with the current system date when a receipt is
recorded.
 Choose this method when you always make a bank deposit after entering receipt transactions.
3. In Select for Deposit leaves the Deposit Ticket ID field blank on a receipt transaction.
 When you go to make a bank deposit, you assign a deposit ticket ID to all the checks being
deposited that day.
 Choose this method when you are depositing more than one day’s worth of checks.
TIP: If one method does not work well, you can change your selection at any time.

Statement & Invoice defaults
 Follow these steps to set up print option defaults for customer statements and
invoices
1. When you print a batch of customer statements, you can use the Activity and Balance Print Options
to selectively exclude customer statements with little or no activity by specifying:
 New activity
 A minimum outstanding balance
 At least one overdue invoice
 When to print negative or zero balance statements
WARNING: If you do not select any of the above options and select Never for the Negative
balances and Zero balances options, no statements will ever print, despite the customer range
selected.
2. Select a default statement type:

 Balance Forward if you want your statements to display consolidated unpaid balances from
month to month. The balance from the previous statement displays at the top of the statement and
any new transactions appear below the Balance Forward amount.
 Open Item if you want your statements to display each outstanding invoice that still has a balance
due. These statements do not consolidate open invoices on the next statement; therefore, no
previous balance will appear.

Indicate Company Print option

This indicator controls whether your company name and address prints on invoices and statements.
TIP: Uncheck this box if your logo includes this information.
 Review and/or customize dunning messages

1. Tailor messages to fit your business. There is one message per category.
Learn more: For additional information, view the training video titled: Setting up Customer
Defaults.

Set up Sales taxes

If you collect sales taxes as part of your business, there is a wizard to assist you in setting them up.
Sales taxes are created using two components:
Component Description
Sales Tax Agencies The individual taxing authorities and their associated rates; used to
assemble the sales tax codes
Sales Tax Codes The overall rate applied to taxable items on customer invoices; usually
composed of multiple rates entered as sales tax authorities
Sales Tax wizard

The wizard is very flexible and existing agencies can be reused when creating sales tax codes.
There is a good bit of overlap when naming sales tax agencies, but the system is very flexible.
Consider using a pattern for the names such as upper and lower case for individual agencies, and
upper case for sales tax codes.
The following example with instructions illustrates the method to set up sales taxes without formulas. If
you are using formulas, click the provided links for more information, and consult the online Help files.
Example:
Athens, GA is in Clarke County and residents pay sales tax of 7%. The sales tax code is made up of
two agencies:
• 4% is paid to the State of Georgia
• 3% is paid to Clarke County
• All the money collected is remitted to the GA Dept. of Revenue (vendor), where it is allocated to the
appropriate tax agency.

GA -
4%
Clarke
County Sales
tax - 7%
CLARKE-
3%
 Follow these steps to use the sales tax wizard:

1. Click the Sales Taxes icon at the top of the Customers & Sales navigation center to begin the
wizard.
2. On the opening page, click to Set up a new sales tax and click Next.
3. On the following screen, enter the total rate to be charged, and how many individual rates will be
included.
4. Set up each agency as prompted, or select it from the list, and enter the requested data on each
screen.
5. After you have set up the individual agencies, you will create a Sales tax ID for the combined rate.
 This is the code that can be entered on the customer record so that sales taxes are automatically
calculated on invoices. You can also add this code to sales invoice transactions.
Sales tax wizard, continued

Sales tax wizard, continued
6. Repeat this process for all the sales taxes you need to set up.
TIP: Sales tax agencies only need to be set up once and can be reused in other sales tax
codes.
Learn more: For additional information, view the training video titled: Creating Sales Taxes.

Add Customer records

Customer records contain the details of those people and businesses that purchase goods and/or
services from your company.
The Maintain Customers window is used to enter, change, and store information this information.
As you add customers, you will notice the default information populating the record. You can override it
as needed.
TIP: Use the Sage Advisor panel to provide you with immediate, specific information about
setting up customers. Place your cursor on any field or tab and pertinent information displays.
Consult Module 4 – Records Overview in this guide for toolbar definitions.
Features overview
In addition to the name, address, telephone information, the customer record can be an access point to
transactions and reports. Other information carried on the customer record includes:
 Customer type code to categorize  Price level designation
customers into smaller, similar groups
 Shipping addresses and related contacts  Resale authorization number
 Five available custom fields  Default sales tax code
 Monthly history of sales and receipt totals  Payment terms and credit status information
 Default G/L sales account  Link to credit card and/or ACH information
 Sales representative assigned to the
customer

 To access the Maintain Customers window, follow these steps:

1. On the Customer & Sales navigation window, click the Customers icon and select from the list. If
the customer record already exists, you can also click the hyperlink in the Customers list.
Learn more: For additional information, view the training video titled: Adding Customers.

Customer beginning balances

If you entered a balance for Accounts Receivable on your Chart of Accounts beginning balances, you
need to itemize the unpaid customer invoices that make up that total.
NOTE: For this example, we show two unpaid invoices comprising the total Accounts
Receivable balance. The number of outstanding customer invoices will vary from one
company to another.
Pre-Sage 50 Pre-Sage 50 Opening

Unpaid Unpaid Accounts
Sales Sales Receivable
Invoice 1 Invoice 2 Balance
 These are unpaid customer invoices as of your first day using Sage 50.
 Since these invoices were recorded to the appropriate accounts in your previous accounting system,
beginning balance invoices do not generate accounting transactions. The receipt transaction that
resolves these outstanding invoices does generate accounting transactions.
 The balance of the Accounts Receivable account in the General Ledger should equal the total
amount of the customer beginning balances prior to entering any new receivables transactions.

 Follow these steps to record customer beginning balance invoices:

1. On the Customers & Sales navigation center, double-click any of your newly created Customer IDs in
the Customers list.
TIP: If you do not see all your customers, click the Refresh button on the system toolbar at the
top of the navigation window.
2. On the Maintain Customers window, select the History tab and press the Customer Beginning
Balances button at the bottom of the tab.
3. Enter each outstanding invoice for this customer and save when you have entered everything for the
customer.

4. Before exiting the window, click the Customer Balances tab to select the next customer who has
outstanding invoices. Double-click the highlighted customer and repeat the previous step until all of
the outstanding invoices have been entered.
Confirm beginning balances

Before moving on to the next module, confirm that the total of your outstanding sales invoices equals
the beginning balance total entered for the Accounts Receivable account. You can verify this with two
of the standard reports.
Assuming you have only entered beginning balance data, an Aged Receivables report total should
match the Accounts Receivable total on your Trial Balance for the same date.
 Follow these instructions to view the two reports and confirm the accuracy of
your data:
1. Click on the Reports & Forms menu at the top of the navigation window and select Accounts
Receivable from the menu.
2. Double-click Aged Receivables, to open the report.
3. You will see the invoices listed individually, and a total at the end of the report. Leave the Aged
Receivables report open.
4. Return to the list of Accounts Receivable reports but highlight General Ledger to the left of the list.
5. Double-click General Ledger Trial Balance, to open the report.
6. Find the Accounts Receivable balance and compare it to the total of the Aged Receivables report.
7. If the two amounts do not match, determine which one is correct, and correct the other.
 For example, if you are sure that you have entered the individual invoices correctly, you must
adjust the Chart of Accounts beginning balance for the Accounts Receivable account.
8. When the two amounts agree, you are ready to go to the next module.

Sage 50–U.S. Edition: Get Started with Sage 50 Accounting Module 8 – User Security
User Security
To ensure your data is secure, learn how to set up Security in Sage 50.
• Set up valid passwords
• Employ other password features
• Define security profiles
• Understand security roles

System Security Overview

In a single-user environment, Sage 50 does not require you to set up passwords or users. However, as
a safety precaution, you can still set them up.
In a multi-user environment, you will be required to set up passwords and user profiles as soon as the
system detects a second concurrent user attempting to use Sage 50.
Here is an illustration of a possible breakdown of responsibilities/system access in a typical Sage 50

company. Smaller companies may combine responsibilities. Larger companies may have more
security profiles and more limited access.
Administrator/Owner
Office Manager Accountant
AP/AR Inventory Payroll

Manager/Specialist Manager/Specialist Manager/Specialist
NOTE: Quantum users have an additional feature called Security Roles that will have a minor
impact on their access path and how they create user profiles. The rules for passwords and the
underlying functionality for assigning rights is the same as for non-Quantum users. If you are a
Quantum user, skip to the last section of this module and read about security roles.

Set Up Users
In order to set up security for your company, you must first set up at least one user as company
administrator.
The administrator has full access to the Sage 50 program and will be able to set up and maintain
company users and their passwords.
 Follow these steps to set up a company administrator profile:

1. Click Maintain>Users>Set Up Security.
2. The first user defaults to a Username of Admin. Enter a password and click Save.

Once the initial user is created, the buttons on the User Security window become enabled.
You will now be prompted for a username and password whenever you access this company.
• The Username defaults to the last user access.
• On initial access, the Username field may be blank.
• If you are logging in as a different user, type over the Username displayed.
Password security
Sage 50 passwords are encrypted and adhere to the following rules:
• At least 7, and no more than 16, characters
• Must contain both letters and numbers
• Cannot contain a forward slash (/)
• Case sensitive
The following message displays for passwords that do not meet the minimum requirements:

Password options
You can also incorporate some or all the available Password Options for enhanced system security:
TIP: Before creating users, review the choices on the Password Options window and customize
for your company.

Password maintenance
Passwords are masked for stronger security:
• No one, including administrators, can view passwords.

• Users can routinely reset their own passwords if they know the “old” password.
• If a user loses or forgets their password, it must be reset by an administrator.
• Administrators can also reset passwords for other administrators.
• Follow the steps in KB 12413 to reset a password for a user.
TIP: As a standard procedure, and to strengthen security, create user profiles with generic
passwords. When the profile is assigned to a user, instruct the user to change their assigned
password immediately.

Creating user profiles

When you create new users, there are four levels of access:
• Administrators have access to the entire system, including security set up.
• Full access is access to the entire system except for security set up.
• Selected access is access only to those areas selected and does not include security set up.
• None or no access is self-explanatory.
When you choose Selected access, you can go from module to module and pick the areas that can
be accessed as well as the level of access for some:
• You can exclude entire modules.
• You can exclude some features within modules.

Understanding access levels

There are five access levels used to assign rights:
Access Level Description
No Access • The user cannot open any window within the designated program area.
• Menu options related to the program area or window will be disabled.
View Only • The user can display the program area or specified window or view
existing data but cannot enter a new record or change existing data.
Add • The user can display the program area or specified window and add new
records or transactions but cannot make changes to them.
Edit • The user can display the program area or specified window, add new
records or transactions, and maintain (edit) existing data.
• Deletions are not permitted
Full Access • The user can display the program area or specified window, add new
records or transactions, maintain (edit) existing data, and delete data.
• Full access also allows the ability to perform specified system functions.
NOTE: Two of the modules, Business Status and Company, only allow Full Access or No
Access. The remaining modules use all five access levels.
Additional Information
Post & Unpost under Company tasks affect the user’s ability to save and print transactions. If a user is
unable to perform some tasks, check Company>Tasks.
Learn more: For additional information, view the training video titled: Setting Up User Security.

Security Roles (Quantum only)

In Quantum, security profiles called Roles are created to define a job instead of an individual user. The
roles can then be assigned to multiple users.
Quantum also includes several predefined security roles that you can use as is, or tailor to fit your
company. Using roles makes it easier to assign security rights to new users. If someone leaves the
company, you can assign the same role to their replacement.
You can create your own roles and even have a specific role for each user. You cannot create a user
without a role.
In Quantum, when you click Maintain>Users>Set Up Security, the following message is displayed:
The User Security window has an additional tab for Roles.

Before you create any new users, click the Roles List to review the predefined roles, make changes,
or create new roles.
Return to the User List and click New User. The following window is displayed:
Assign the user to an existing role or roles or click New Role to customize a role for the user.
TIP: Assigning users to more than two roles may cause some confusion. Instead, customize a
role that includes the rights from multiple existing roles.
NOTE: The functionality for creating a new role is the same as creating a user with Selected
Access covered earlier in this guide.

Sage 50–U.S. Edition: Get Started with Sage 50 Accounting Module 9 – Data Protection
Data Protection
Backing up your data is critical whenever you use software to automate tasks. Be sure to read this
section and establish a backup strategy for your company.
• Back up company data
• Restore company data from a backup

Overview
If you have worked your way through this guide, you have probably started creating your company’s
accounting data. Before we explore additional possibilities for your company, we need to discuss how
to safeguard your data.
Even the newest, most technologically advanced computers can be susceptible to crashes and failures.
As a best practice, you should establish a schedule for regularly backing up your data. You should also
maintain certain key backup files in a separate location. It is risky to store all your data in a single
location.
A fire, for example, can destroy everything in your office. But if you maintain some or all of your backup
files remotely, you can minimize the impact on your business. Without backup files, you run the risk of
losing weeks or months of work, or your entire set of accounting data.
How often should you back up?

Ideally, you should create a backup every day that changes are made in the system. If you think this is
too frequent, ask yourself how much data you would be willing to reenter in the event of a disaster. Are
you willing to reenter a month’s work? If not, are you willing to reenter a week’s work? The answer to
your question will determine the frequency with which you should back up your data.
Backup methods
There is more than one way to create a Sage 50 backup. The following section covers the simplest
method: the manual backup.
Regardless of the method, all valid Sage 50 backup processes create a compressed file with a PTB
extension.
You may want to back up early in the morning before everyone logs in or at the end of the day when all
users have logged out.
NOTE: Backing up is a single-user task. If you are in a multi-user environment, other users in the
company must exit Sage 50 before a backup can be made.
What is included in a backup file?

The Sage 50 backup file contains all of the data in a company at the time of the backup, plus all custom
forms, reports and financial statements.
WARNING: You should not back up your Sage 50 data using an alternate form of backup unless
a Sage 50 backup has been created using the Sage 50 program first.
Sage 50 data files are stored in several files on your hard drive or network server and you run the
risk of making an incomplete backup using an alternate method, especially if that method creates
incremental backups.

Back up company data

 Follow these steps to back up your company data manually:
1. Log into your company as an administrator, or, if you are responsible for backing up your company
data, make sure that the Administrator assigns backup rights to your user record.
2. Click the Backup Now button located in the Backup and Restore Data section of the System
navigation center. You can also click File>Backup.
3. On the Back Up Company window, consider the following backup options:
Option Description
Reminder • When you are closing the company, you can be reminded to
back up after a specified number of days.
Include company • Adds the company name to the backup file name.
name in the backup • When this box is not checked, a backup filename will only include
file name the letters ‘BU’ and the date of the backup (e.g. BU-031519.ptb).
Include archives in • Include your archived companies in the backup.

the backup • Because archived data is read-only and cannot be updated, it is
not necessary to include a copy of your archived companies with
every backup.
• If there are no archives, this option is not enabled.
Include attachments • This option will include all attachments with the backup.
in the backup • Attachments are scanned documents, images, and other files
attached to a record or transaction.
• If there are no attachments, this option is not enabled.
4. After making your selections, click the Backup button.

5. On the Save Backup window, the system displays the default directory and the backup file name. By
default, backups are saved in the company data folder.
NOTE: You can change the folder and the file name.
If you change the folder location, the system will default to the new location the next time you
back up.
6. Click Save.
7. The system will display the backup file size. Click OK.
Learn more: For additional information, view the training video titled: Backing Up Your
Company Data.
Restore company data from a backup

Restoring data from a backup file overlays all information in the open company with the information in
the backup file. Or, you can create a new company from the backup file. If you choose to overlay
existing data, make a backup of your current data. This ensures that you can return to your original data
state if you have problems restoring.
 You can restore the company data, customized forms, Web transactions, Intelligence reports, or all
four.
Because all company data files are interrelated, you cannot restore individual data files; in other words,
you must restore the entire company, and not just part of a company.
NOTE: Restoring data is a single-user task. If you are in a multi-user environment, have other
users exit the company first.

 Follow these steps to restore data from a Sage 50 backup file:

1. Log into your company as an administrator.
2. Make a backup of your current company data. Although this step is optional, making a backup before
restoring will ensure that you can return to your original state if problems arise.
3. Click File > Restore to access the Restore wizard.
4. On the Select Backup File page, the Location field will display the path for the most recent backup in
the company folder. If this is not the backup file you want to use, click Browse to locate the correct file.
5. On the Select Company window, select to overwrite the data of the currently open company or to
create a new company.
WARNING: If you select to restore to an existing company, you can browse to a directory and
select a company to restore to. If you accidentally choose the wrong company, you could delete
that company's data by overwriting it with the new company's data. Be very careful to ensure you
have selected the right company.
TIP: You should make a backup of your current company before restoring your data, in case
anything goes wrong.
Restore data, continued

Restore data, continued
6. If you elect to create a new company, the system will take the existing company folder name and
increment the last letter to create a new folder.
• For example, BELGARSU would become BELGARSV.
7. On the Restore Options window, select the file(s) that you want restored. Company Data is selected by
default:
8. Review the confirmation page before clicking Finish, to ensure you have made the correct choice.
Option Description
Company Data Restores all your data, transactions, and other information you have
entered in the company.
Customized Forms Restores any forms, such as invoices, checks, and so on that you have
customized, or saved with a new name.
Web Transactions Restores all Web transactions in the Sage 50 Web Transaction Center.
Intelligence Reporting Restores all Intelligence Reporting reports. This includes the standard
reports Intelligence Reporting reports and any reports that you have created
using Intelligence Reporting.
9. The restored company opens automatically.
Additional considerations
When you restore into a new company, the system creates a new folder for the company. It does not,
however, create a new name for the company itself. This can create tremendous confusion for users
because now it appears you have multiple companies with the same name.
To prevent users from posting into the wrong company, and since the company name cannot be
changed in the restore wizard; you should immediately rename the restored company when it opens
automatically.
 To rename the restored company, follow these instructions:

1. From, the Maintain > Company Information window, type a new name in the Company Name field and
click OK.
TIP: If you are modifying the existing company name, always modify the beginning of the name.
If you modify the end, such as Company Name 2, or Company Name – Test, it may not display in
the Company list and users may select the wrong company.
If you are completely replacing the original company, retain the name in the restored company
and go to the original company and type ‘Do not use’ at the beginning of the old company name.
FOR MORE INFORMATION: Access KB 10097- How to restore a backup for more information.

Sage 50–U.S. Edition: Get Started with Sage 50 Accounting Module 10 – Connected Services
Additional Resources
As a Sage customer you have access to additional services, some of which are included in your
business care plan and others that are available as add-ons to Sage 50.
Review this section to learn about those services including cloud-based services that are available to
Sage 50cloud customers, Sage University training and support resources.
In this lesson, you will learn about:
• Sage 50cloud apps & services
• Other add-on services
• Sage University training options

Apps & Services

In addition to the core Sage 50 modules, there are many services available that you can use to
expand or improve your business:
• Sage 50cloud enables your business to work in the cloud, offering both portability and security:
• Remote access with Remote Data Access (formerly Sage Drive).
• Mobile invoicing and online payments with Invoice Payments.
• Integration with Office 365.
Go to the Cloud & Mobile navigation center to explore your options. Click the Learn more link for information
about getting started.

Support Tips
 Use these tips and best practices to understand and maintain your product
more efficiently.
• Each year you can expect a major and two minor product releases in Summer, Fall and Spring.
• The major product release usually comes out in July (Summer). For example, the 2021 release is
due out in July 2020. It is not necessary to wait until January 2021 to install it. The release version is
not dependent on the actual date or your company’s open fiscal years.
• The minor product releases are typically available in the Fall and the following Spring.
• For optimum performance, Sage recommends you install each product update as soon as it is
available. Pick a convenient time for everyone to update, such as the day following payroll or when
your Sage 50 administrator returns from vacation.
• Product activation takes place on the server, so always upgrade and open Sage 50 on the server
before upgrading any of the workstations.
• Ensure all users exit Sage 50 before starting the server upgrade.
• Once the server is upgraded, all workstations must also be upgraded before continuing to use Sage
50.
• As a best practice, ensure there is one other person besides your Sage 50 administrator who has
administrative rights and can access the computer or server where the Sage 50 data is located.

Sage University training options

Setting up your software is only the first step in using your software. You’ll want to train your team how
to use Sage 50 and have a plan to train new hires and cross train employees down the road.
• If you have additional modules such as Job Cost or Inventory, you’ll want to identify related training so
you can start using those features to grow your business.
• If reporting is a primary need – and it is for most businesses – you’ll want to learn how to take
advantage of the report design tools available to you as a Sage 50 customer.
Sage University offers both instructor-led and self-paced training opportunities for purchase on a wide
range of Sage 50 topics. Here are the types of training available:
Training Format Definition
Realtime Learning (RTL) Learn more about specific topics such as inventory or job costing.
Information is presented in a lecture style format using WebEx.
Realtime learning sessions are typically 2-hours.
Anytime Learning (ATL) Learn at your own pace, anytime, anywhere.

Company-wide subscriptions are viewable by all Sage U profiles set
up with the same account number as the original purchaser.
Next Steps
As you continue your education, Sage recommends the following self-paced Anytime Learning:
• 50US – Sage 50-U.S. Edition – Step by Step: Daily Processing
• 50US – Sage 50-U.S. Edition – Inventory
• 50US – Sage 50-U.S. Edition – Job Costing
• 50US – Sage 50-U.S. Edition – Step by Step: Designing reports, financials and forms
If you prefer instructor-led, online training:

• 50US – Sage 50-U.S. Edition – Deep Dive Workshop: Productivity Tips & Performance
• 50US – Sage 50-U.S. Edition – Designing Financial Statements
• 50US – Sage 50-U.S. Edition – Job Costing Essentials

 Register for and access your training:

1. When you’re ready to continue your training, visit Sage University.
2. From the Sage U logon screen, enter your email address and Sage University password.
Note: If you do not know your Sage University password, select Forgot Password and enter your
email address.
3. Enter the name of your learning package into the search field (top, right corner) and select Request.
Examples include:
 50US - Sage 50—U.S. Edition – Essentials
 50US - Sage 50—U.S. Edition – Step by Step: Daily Processing
4. Launch the training from your transcript by selecting View my transcript from the My Learning
section of your home page.
5. Locate the learning package and select Launch or Open Curriculum depending on the training type.
 Share your training with others in your organization:

Subscription-based learning packages are often available to your entire organization. If you registered
for a company-wide subscription, forward these instructions along with your Sage account number to
others within your company that need to access the training. Additional users should:
1. Create a profile on Sage University using your company’s Sage account number. Create Profile.
2. Enter the name of the learning package into the search field (top, right corner) and select Request.
This adds the learning package to your transcript for ongoing access.
 Check out other training options on Sage University:

Did you know there are hundreds of recorded and live online training options on Sage University?
1. After logging into Sage University, look for product training by perusing the Training Subjects
section of your home page.
2. Contact our Sage University team if you have questions or need help locating or registering for
training: SageUniversity@sage.com or 1-855-SageUni (1-855-724-3864).

Build your business

Congratulations! You have created a solid foundation for your accounting system.
Remember these self-service options to help you succeed as you start using Sage 50 to build your
business:
Use these links for quick access:

• Sage University
• Sage Knowledgebase
• Sage City

Visit Sage University for your training needs.
www.SageU.com
 2020 Sage Software, Inc. All rights reserved. Sage, the Sage logos, and the Sage product and
service names mentioned herein are registered trademarks or trademarks of Sage Software, Inc., or
its affiliated entities. All other trademarks are the property of their respective owners.

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Sage 50-U.S.

Get Started with Sage 50

© 2019 The Sage Group plc or its licensors 7

Use the accompanying training videos to enhance your understanding as needed.

© 2019 The Sage Group plc or its licensors 8

© 2019 The Sage Group plc or its licensors 9

How to use this guide

© 2019 The Sage Group plc or its licensors 10

 Follow these steps to access your training videos:

4. Locate the learning package and Open Curriculum.

5. Select the correct category and click View Details.

6. Click the Launch button beside the intended video.

© 2019 The Sage Group plc or its licensors 11

© 2019 The Sage Group plc or its licensors 12

• Creating Sales Taxes

© 2019 The Sage Group plc or its licensors 13

Create Your Company

© 2019 The Sage Group plc or its licensors 14

 To access the Create a New Company wizard, follow these steps:

© 2019 The Sage Group plc or its licensors 15

Enter Company Information

Select a Method to Create Your Company

© 2019 The Sage Group plc or its licensors 16

Select a Business Type

© 2019 The Sage Group plc or its licensors 17

Choose an Accounting Method

NOTE: Many not-for-profit companies choose cash basis because they

© 2019 The Sage Group plc or its licensors 18

Choose a Posting Method

TIP: Most companies use this posting method.

© 2019 The Sage Group plc or its licensors 19

Define your Fiscal Year

TIP: Most companies follow this accounting period

© 2019 The Sage Group plc or its licensors 20

Selecting a 12-Month Fiscal Year

© 2019 The Sage Group plc or its licensors 21

Customizing the Fiscal Year

How many accounting Enter from 1 to 13 accounting periods.

© 2019 The Sage Group plc or its licensors 22

© 2019 The Sage Group plc or its licensors 23

© 2019 The Sage Group plc or its licensors 24

New Company Setup tools

© 2019 The Sage Group plc or its licensors 25

Using the Setup Guide

© 2019 The Sage Group plc or its licensors 26

Sage Advisor settings

© 2019 The Sage Group plc or its licensors 27

Other Company settings

Company Information window

 Follow these steps to access the Maintain Company Information window:

Change Accounting Periods

When should you change the accounting period?

© 2019 The Sage Group plc or its licensors 29

 Follow these steps to change the accounting period:

© 2019 The Sage Group plc or its licensors 30

How dates are used

© 2019 The Sage Group plc or its licensors 31

© 2019 The Sage Group plc or its licensors 32

Accounting tab, continued

© 2019 The Sage Group plc or its licensors 33

Accounting tab, continued

TIP: After a new installation or upgrade, you may need to revisit

Recalculate cash Choosing this option can affect system performance.