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KB Category: Sage 50 Accounts

Sage 50 Accounts

Sage 50 Workaround – Version 26 and below

Written by Sharon Foley on .

Sage 50 Workaround – Version 26 and below

 

If you have not upgraded to Sage 50 version 27.1 you can use the workaround for versions 26 and below . To set up your accounts to allow for the workaround you need to do the following:

1. Enter all transactions up to December 2020 

2. Set up Tax codes for Postponed Accounting –

You can download the list of new tax codes from here.

3. Set up new accounts for

  • Postponed Customer
  • Postponed Supplier
  • Postponed Bank

Click here for more information on how to set up new accounts

4. Settings – Countries and Untick UK as EU

  • NI Vat codes – Enter in GB/XI before NI supplier and customer vat code
  • GB/XI – VAT number

If you are trading under the NI protocol then you must amend your own vat number to put GB/XI in front of it.  This can be done in Company Setup.

5. EORI number

In version 26 and above its in Settings – Company Preferences and you have a box for EORI number.

Versions 25 and below has no specified field and you must choose an unused field.

Layouts will need to be amended to include your EORI number.

6. Postponed Accounting

7. Commodity codes

Layouts will need to be amended to include your Commodity codes.

8. Customers and Suppliers in the UK to have a default tax code for postponed accounting to T40

 

9. Incomplete orders and invoices/credits – change tax codes to include.

 

10. Processing in Sage 50

Net + VAT – Goods and import VAT

 

11. You cannot submit the xml file for RTD and VIES directly

 

Commercial Invoice Layout

Written by Sharon Foley on .

A4 Commercial invoice – Plain paper (Print or Email)

A summary report showing the net, tax and gross values for each invoice.

 

Click Here to download the commercial invoice layout.

 

  1. Click Download.

The file either automatically saves to your Downloads folder or you are prompted to save the file.

  1. If prompted to save the file, browse to where you want to save it, for example, the Windows desktop, then click Save.
  2. Open Sage Accounts, on the menu bar click File, then click Restore.
  3. Click Browse, browse to where you saved the file, then double-click the file cominvplaina4.001
  4. Below Description of data to be restored, check that it shows the following:

Report/Layout download
Backup of:
– LayoutTemplates

  1. To install the report, click OK.

When a message appears advising you are about to overwrite data held in your company, click Yes. As this backup only contains a single report, no data is overwritten.

  1. Click OK then log into Sage Accounts.

Your new layout can be found in when you print an invoice.

 

Sage 50 and Brexit

Written by Sharon Foley on .

Introduction

 

The United Kingdom (UK) withdrew from the European Union (EU) on the 1st of January 2020 which fundamentally changes how the UK and the countries of the EU will trade with each other. A Transition Period of a year was entered into at that point which allowed trade to continue under the existing terms while a new trade agreement was attempted to be put in place. This Transition Period ended on the 31st of December 2020 and the new EU-UK Trade and Cooperation Agreement is now in place.

In summary, under this new agreement, from the 1st of January 2021 there will be:

  • No free movement of people: UK citizens will no longer have the freedom to work, study, start a business or live in the EU. They will need visas for long-term stays in the EU. Border checks will apply, passports will need to be stamped, and EU pet passports will no longer be valid for UK residents.
  • No free movement of goods: Customs checks and controls will apply to all UK goods moving between the UK and EU (exports and imports). 
  • Tariff and quota free trade: Despite the customs checks, there will be no tariffs or quotas on goods going between the UK and the EU
  •  No free movement of services: UK service providers will no longer benefit from the country-of-origin principle. They will have to comply with the – varying – rules of each EU country, or relocate to the EU if they want to continue operating as they do today. There will be no more mutual recognition of professional qualifications. UK financial services firms will lose their financial services passports.
  • Concessions: The UK have made some concessions on both fisheries and the level playing field, while the EU conceded on the jurisdiction of the European Court of Justice to decide on whether the trade deal has been breached in the future.

More info can be found at gov.ie – Brexit. Are you ready? (www.gov.ie).

This article and its links will be updated with any new information as it emerges, so please check back regularly for the latest information.

 

What Businesses Will This Effect

 

Any Irish business trading with the UK will be subject to the above Trade & Cooperation Agreement while companies trading with Northern Ireland will use the Northern Ireland/Ireland Protocol of the original Withdrawal Agreement. (which pushes EU- UK checks to the Irish Sea border, avoiding checkpoints on the Irish land border).

The main steps that businesses should take to be ready for Brexit can be categorized under the following areas:

  1. Customs – including getting your EORI number, custom control and declarations, changes to regularity reporting (i.e. Vies and Intrastat) etc.
  2. Product Compliance – ensuring any products you export to the UK complies to their rules and any UK products you import complies with EU rules..
  3. Supply Chain – check that you suppliers and logistical operators can supply your goods and deliver your imports.
  4. Financial  – know the extra costs that may be involved and how these will be covered (i.e. cashflow).

The Irish Government have made available a range of business supports, including advisory, financial, and upskilling supports to prepare for Brexit. This latest information is hosted on the Government’s main website at gov.ie/brexit.

UK businesses trading with any EU country will be similarly effected but will also have to agree new trading terms with countries that it traded with under EU terms or trade under World Trade Organisation (WTO) terms. The following link gives a detailed summary of this UK Governments Summary of the Trade and Cooperation Deal.

 

Using Sage 50 Software to Support Brexit

 

Sage have put together a dedicated Brexit Hub to help users understand how the changes could affect their business, and what needs to be done. This includes details of software changes to help manage the impacts of Brexit.

Ireland Brexit Hub –> https://my.sage.co.uk/public/help.aspx#/customer/support/brexit/category/50accounts/roi 

UK Brexit Hub –> https://my.sage.co.uk/public/help.aspx#/customer/support/brexit/category/50accounts/uk

Important Note: These will be updated with late-breaking changes resulting from any trade deals made between now and the 31st December – so keep checking back!

Sage have been updating their Sage 50 software to be ready for Brexit and the latest update is version 27.1 ,  You can download the 27.1 Update from here and the full version of Sage 50 V27 can be downloaded from here.

This will include the following features:

  1. New tax codes to allow for Postponed Accounting
  2. Sage 50 Cloud Accounts – ROI only
  3. New tax codes UK (5 new codes)
  4. New Tax Codes Ireland (Ireland will have 12)
  5.  Commercial invoice Layout 
  6. New Country Codes Introduced
  7. Sage 50 Work Around for version 27 and below (ROI)
  8. Sage 50 Version 27.1 Brexit (ROI)

 

Irish Businesses Trading with the UK

An Irish business trading with the UK or Northern Ireland should do one of the following to prepare for Brexit –

It is recommended to update Sage 50 to the latest software version (27.1) and then follow this checklist for trading with the UK after Brexit –> Brexit Checklist for Irish business when using Sage50 version 27.1.

OR

If you can not update to version 27.1 of Sage 50 in time then you can follow this checklist to use earlier versions of Sage 50 to trade with the UK after Brexit –> Brexit Checklist for Irish business when using earlier versions of Sage50

You can find information here on how to upgrade your Sage 50 software. As always, we recommend that you use a qualified Sage technician to upgrade your Sage 50 software to ensure it is done correctly and can be supported, especially if this is a network installation. Contact us to book your upgrade,

 

UK Businesses Trading with EU Countries

A UK business trading with the EU should follow these guidelines to prepare for Brexit with Sage 50 –> Brexit checklist for a UK Business trading with the EU. (Note, the guidelines are different for Northern Ireland).

 

Disruption to Irish Automated Bank Feeds

Irish automated bank feeds will be disrupted for a temporary period of about 8 weeks after the transition period from the 1st of January 2021. This will effect all systems providing automated bank feeds to Irish banks because new local regulatory authorisation is required.  If you use any automated Irish bank feeds in Sage, see the following article for advice on how to manage this disruption –> How to enter and reconcile bank transactions if my bank feed is unavailable.

 

For more detailed information on Brexit please see the following links:

AccountsMate For Sage 50 – Running on a PC without a Sage 50 Client

Written by Tom Shields on .

AccountsMate can be installed and run on a PC without the Sage 50 client application, this is done as follows.

1. Install AccountsMate as normal – see AccountsMate For Sage 50 – Installation Instructions

2. As part of the installation, if Sage 50 is not installed on the PC the user will be prompted to enter the version of the ODBC driver required for their Sage 50, see a sample screen shot below.

3. Enter the correct version and click Install, the ODBC driver will be installed.

4. This ODBC driver should now allow access to the Sage 50 data.

 

 

AccountsMate For Sage 50 – Installation Instructions

Written by Tom Shields on .

Prerequisites

To install AccountsMate you will need the following:

1. An email from Pimbrook Software with your AccountsMate installation string.

2. Security privileges on your computer to allow download and installation of the AccountsMate software. You may need to check this with your IT provider.

3. It is recommended that your Sage 50 should be the latest version for the best compatibility, but it must be at least version 27 or higher.

4. If this is the first installation of AccountsMate in the organisation, an initial setup process will run to link to the Sage 50 data and you will need to ensure the following:

  • AccountsMate is run for the first time on a computer that has Sage 50 installed in order to complete its initial setup.
  • You have a Sage 50 login (user & password), it is recommended to use the “manager” login details to give full access.

 

Installing the Software

To install the AccountsMate software application, follow these steps;

1. Click this link to download and run the installer -> AccountsMate Installer

2. Copy and paste the install string from your installation email into the Enter Install String box when prompted,

3. Click Install and confirm the organisation details.

3. The installer will download the application software and prompt for the install folder,

4. Accept the default folder (or change if required) and click Next to confirm the installation.

5. The installer will display a screen to indicate when the installation is complete.

6. Click Close.

7. There should be an AccountsMate Console icon on the desktop, click this to start AccountsMate.

 

 

Setting Up the Software (at first run only)

When AccountsMate is run for the first time, it will start a Set Up process to link with the Sage 50 data.

The following steps are involved.

1. AccountsMate requires at least one administrator user to complete its set up. The system will ask if you want to be the administrator.

2. Click Yes to become an administrator.

3. The system will prompt to set up a link to the Sage 50 companies.

4. Click Yes.

5. The system will display the Company Creation screen (see below) and scan for Sage 50 companies.

6. When it finds them it will display the available Sage 50 companies.

7. Enter the Sage 50 login User & Password (t is recommend to use the “manager” login for full access).

8. Press the Test button in the top toolbar.

9. AccountsMate will test the connection to each company included and return the Test Result. If unsuccessful, the login details are probably incorrect, try a valid Sage 50 login and test again. When AccountsMate successfully connects to a company it will display the Company Name from Sage 50, as shown in the screen sample above.

10. Ensure the companies required are ticked under the Included column, as shown above.

11. Click Save to save these settings.

12. AccountsMate will restart.

13. See our User Guide here -> AccountsMate for Sage 50 – User Guide for help with using AccountsMate.

 

 

Installation Issues

There may be issues with the installation depending on a users system environment and set up.  Below are the common ones we have seen and how to address them.

Issues Download the Software Installation

If there problems downloading the software is is normally security privileges or broadband connection issues, see this article for more help

 

Problem Finding Sage 50 Companies

AccountsMate may not be able to find the Sage 50 companies at the Company Creation screen (step 5-6 in the Setting Up section above). If this is the case the user will be allowed to browse the system to find the Company.UNC or Company file on the computer. Please ensure that AccountsMate is being run the first time on a computer that has Sage 50 installed. The user may also need to enter the version number in this case.

 

Setting Up AccountsMate to Run on a Computer With No Sage 50

AccountsMate can be set up to run on a PC that does not have a Sage 50 client installed. This is useful if you wish to give access to users that do not have full access to Sage 50. The following link gives instructions on this set up

AccountsMate For Sage 50 – Running on a PC without a Sage 50 Client

 

Changing the Standard VAT Rate In Sage 50

Written by Tom Shields on .

Sage 50 allows you to edit your VAT Rates under Settings>Configuration>Tax Codes. Here you can nominate a new code to be the new Standard Rate.

You will also need to create two further new Tax Codes to represent the existing Tax Codes T8 and T24 which are currently linked to Tax Code T1. You may also need to set up two further Tax Codes to represent T11 and T18.

We recommend using the following codes:

  • T39        replaces T1
  • T40        replaces T8
  • T41        replaces T24
  • T42        replaces T11
  • T43        replaces T18

If these are not available use the next available codes.

 

Changing VAT Rates in Sage 50

The steps involved to change VAT rates in Sage 50 are as follows:

1. Settings>Configuration>Tax Codes

2. Select Code T39 or the next available

3. Click Edit and amend

Percentage 21%
Include in VAT Return
Resale ticked
Outside EC Unticked
Rate Standard.
Change description to Temp. std rated sales and purchase of goods for resale
Click OK

4. Repeat for T40 or next available

Percentage 0%
Include in VAT Return
Resale ticked
Outside EC Unticked
Enable EC Code EC Purchases, Goods
Link to T39 (or alternative)
Rate Standard
Change description to Temp. std rated purchase of goods from suppliers in EC
Click OK

5. Repeat for T41 or next available

Percentage 0%
Include in VAT Return
Resale unticked
EEC Unticked
Enable EC Code EC Purchases, Services
Link to T39
Rate Standard
Change description to Temp. sd. Rated purchases of services from suppliers in EC
Click OK

6. Repeat for T42 or next available

Percentage 21
Include in VAT Return
Resale Unticked
Outside EC Unticked
Enable EC Code Unticked
Rate Standard
Change description to Temp. sd. Rated purchases of goods for non-resale
Click OK

7. Repeat for T43 or next available

Percentage 0%
Include in VAT Return
Resale Unticked
Outside EC Unticked
Enable EC Code EC Purchases, Goods
Linked to T42 (or alternative)
Rate Standard
Change description to Temp. sd. Rated purchases of goods for Suppliers in EC
Click OK

8. Click OK then Apply

9. Click Close, then if prompted to save changes click NO

 

Areas To Consider When Changing VAT Rates 

 

1. Recurring Entries – Sales, Purchase Orders, Invoices and Credits:
  • Ensure you have processed all entries prior to the VAT rate change.
  • Click the relevant list i.e. Invoices, Sales Order or Purchase Order
  • Click New or New Invoice and Recall and then Load.
  • Change the VAT Code, Click OK
  • Memorise again with a different name
    .
2. Recurring Entries – Batch Invoices and Credits:
  • Ensure you have processed all entries prior to the VAT rate change.
  • Click Batch Invoice & Recall the batch.
  • Change the TAX Code.
  • Memorise again with a different name.

 

3. Recurring Entries Bank Transactions:
  • Ensure you have processed all entries prior to the VAT rate change.
  • Click Bank Payments & Receipt’s & Recall.
  • Change VAT Code and click OK.

 

4. Outstanding Orders & Invoices:

All outstanding invoices and orders may need a VAT code change if not completed before the VAT rate change.

 

5. Customer, Supplier & Product Records:

You have a default VAT code on each master record that may need changing. If you only have a small number you can edit each record, otherwise select a number of records that require changing and use Batch Change. You can use the “Filter” feature on these list screens to filter where the “Default Tax Code” = the tax code you wish to change (i.e. T1). Then select all the filtered records and use the “Batch Change” to change the “Default Tax Code” to the new code required (e.g. T39).

 

6. Special Product Codes (S1 and S3):

If you use the Special Product Codes S1 or S3 you can amend the default tax code for these by going to Settings, Invoice and Order Defaults, Options and change the Default tax codes in the Specials Items section at the bottom and select OK.

 

7. Other Considerations:
  • 3rd Party software importing records into Sage 50 – need to ensure you are in sync with codes..
  • Any bespoke VAT reports may need to be reviewed.
  • EU related codes for notional VAT.
  • Be mindful of unallocated items when you have two different VAT codes on the account.
  • Sage 50 Irish Vat codes –> see Sage 50 Irish VAT Codes

 

Demonstration Video:

See our demonstration video here –>  Sage 50 Vat Change Demonstration

 

AccountsMate For Sage 50 – Overview

Written by Tom Shields on .

AccountsMate for Sage 50 is an enhanced query tool supplied by Pimbrook Software to allow clients to open up their Sage 50 data by:

  1. Giving current users better ways to enquire on the Sage 50 information.
  2. Allowing staff that currently do not have Sage 50 access to view key information (e.g. customer service can view account information, sales reps can see product and prices or warehouse staff can lookup stock details).
  3. Exposing Sage 50 information to remote staff.

It is easily installed and set up with no extra Sage 50 licences needed or no need to have Sage 50 installed on the PC.

See the links below for more information on AccountsMate:

– Watch a quick overview video –>> AccountsMate Overview Video

– Read the overview document –>> AccountsMate Overview document

– Information on installing AccountsMate –>> AccountsMate For Sage 50 Installation Instructions

– How to use AccountsMate –>> AccountsMate for Sage 50 User Guide & Tutorial

 

 

Sage 50 Accounts V26 – Features & Downloads (Includes V26 Updates)

Written by jennie on .

We’re happy to announce that Sage 50 Accounts v26 and Sage 50cloud Accounts v26 are now available.
You can check your current software version by clicking Help and About in your software.

New Features:
What’s New in Sage50 Accounts v26? – Click Here

Downloads:
To Download Sage 50 v26 Full Install – Click Here (406mb)
To Download Sage 50 v26.1 Update – Click Here (406mb)
To Download Sage 50 v26.2 Update – Click Here (69mb)

Pimbrook Software
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