Sage Line 50 - Introduction to Accounting

Sage Line 50

Introduction to accounting

Duration -     2 Days
 
Objectives -     To gain an overview of the 3 integrated ledger systems – Nominal, Sales and Purchase accounts.
To understand how Sage deals with transactions.
To learn which nominal codes to use?
 
Who Should Attend -     Those who wish to use Sage Line 50 accounting for recording financial transactions.
 
Experience -     Some knowledge of how to use the keyboard, mouse and other Windows systems is assumed. Those who have little or no knowledge of the structure of accounting systems should expect to spend some time on the concept of double entry book-keeping.

1 Key Decisions Prior to Set Up

-Basic configuration of the system
-Account coding structures
-Layout of accounts
-Profit/Loss and Balance Sheet design
-Financial Year settings
-Default settings
-Tax Codes
-Departments and Company Preferences
-Understand the choice of methods and implications for VAT Cash Accounting
-Find out how to make checks against the previous system

2 Creating Accounts

-Creating customer accounts
-Creating supplier accounts
-Creating bank accounts
-Changing/Creating accounts
-Nominal codes and names

3 Opening Balances

-Inserting opening balances for customers and suppliers prior to starting your new accounting system

4 Working with Supplier Invoices

-Discover how to record invoices received from Suppliers

5 Working with Customer Invoices

-Learn how to record invoices sent to customers
-Learn how to use batch invoices for customers
-Learn how to email invoices to customers

6 Bank Transactions: Payments

-Learn how to pay invoices from suppliers and other bills through the bank

7 Bank Transactions: Receipts

-Learn how to record receipts of payments from customers and other sources

8 Bank transactions: Petty Cash

-Learn how to transfer money from the current account to the petty cash account
-How to record payments from Petty Cash

9 Bank transactions: Recurring entries

-How to enter and process recurring entries into and out of the bank account

10 Bank reconciliation and other month end procedures.

-Learn how to reconcile your bank account and carry out other month end procedures

11 Error Correction

-Familiarise yourself with the routine for correcting errors and reversing transactions

12 VAT Return

-Learn how to produce and reconcile a VAT return

13 Reports

-Learn how to view and print reports e.g. Profit and Loss account, Balance sheet, aged creditors etc

14 Data Security

-Learn why and how to back up and restore data and also how to check and verify data

Please note that sections of this course can be mixed with other courses to create your own bespoke training package.