Sage - Line 50/100 - Foundation Training Course

Course Content

Introduction / Getting Started

Installing Sage / Setting a Password

• Looking at the menus & toolbar options
• Setting the financial year
• Backing up and restoring data files
• Nominal Account Names & Numbers
• Viewing and printing the Nominal Account List
• Sage Nominal Account Ranges (Groupings)
• Transactions and Double Entry
• Changing Nominal account names
• Control Accounts (changing the defaults)
• Entering Journal Entries (debit/credit)
• Nominal Activity Reporting (details/graph/activity)

Bank Transactions

• Entering bank receipts/Making bank payments
• Saving bank transactions / Bank Reporting

Customers & Suppliers

• Discussion - customer details & defaults
• Entering customers details
• Setting individual credit limits & setting the default nominal codes for accounts
• Modifying customer details
• Entering supplier details & setting the default nominal codes
• Customer/Supplier activity – turnover reporting

Service Invoices

• Creating a Service Invoice
• Printing invoices – Checking customers credit limit
• Updating Ledgers - viewing Update Ledger Report
• Re-printing invoices

Products & Stock Control

• Discuss product records & categories
• Create categories to split products into different groups (for sales analysis only)
• Adding new products
• Stock adjustment In/Stock adjustment Out
• Setting re-order levels
• Checking stock levels report
• Product activity reporting

Product Invoices (Selling Stock Items)

• Creating/Changing product sales invoices
• Inserting product codes
• Allowing discounts – various methods
• Entering customer order details
• Entering Footer details
• Accepting payment for the Invoice
• Printing Invoices/Updating the ledgers

Statements & Customer Receipts

• Checking outstanding balances
• Aged Debtors Analysis / Creating a Statement
• Customer Receipts (automatic allocation)
• Manual allocation of Customer receipts
• Allowing discounts
• Posting Payments On Account

Purchase Invoices

• Entering the Suppliers details
• Batch invoices – entering supplier invoices
• Checking Supplier account balances
• Making payments to suppliers
• Printing a Remittance Advice
• Supplier’s transaction history module

More about Bank Accounts

• Making Bank transfers
• Combined payments (posting payments to more than one nominal code)
• Petty Cash transactions
• Bank Statement Reconciliation

Recurring Entries

• Entering Recurring Entries (transactions that are carried out each month)
• Adding Journal Credits/Debits
• Processing Recurring Entries
• Suspend/Deleting Recurring Entries

Prepayments & Accruals

• Entering Prepayments manually/Using the Wizard
• Setting up Accruals (when invoiced in arrears)
• Processing Prepayments & Accruals
• Checking the Nominal Ledger balances

VAT Return

• Notes on VAT Returns
• Producing & Printing the VAT Return
• Reconciling the VAT transactions
• Paying the VAT

Financials – Reports & Information

• The Audit Trail (complete list of every transaction)
• The Trial Balance (current state of each nominal account)
• Profit and Loss (shows whether a company is making a profit or loss)
• Balance Sheet (liabilities report)
• Other Reports (Aged Creditors/Day Books/Invoice Listing/Bank Payments/Bank Receipts/Supplier Invoices/Product Activity Listing

Overview

This course is designed for beginners as an introduction to Sage Line 50/100 and aims to teach the use of the main features of this accounting package. It assumes that the student has a basic understanding of bookkeeping procedures and an understanding of the double-entry principal. We do not teach how to set up an accounting system from scratch nor attempt to teach bookkeeping.

By the end of this course you should be able to use the main functions of Sage Line 50, understand the use of nominal codes, produce basic accounting reports; add suppliers, customers and products; set stock levels, enter service and product invoices/credit notes; send statements; receive payments from customers; pay suppliers; reconcile the bank accounts; enter bank transfers; set up recurring entries; reconcile the VAT; correct errors postings; produce Profit & Loss, Balance Sheet and Trial Balance reports.