Sage 50 User's Guide

Sage 50 Accounting--U.S. Edition User's Guide

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? 2015 Sage Software, Inc. All Rights Reserved. Portions of the Sage 50 Pro Accounting, Sage 50 Premium Accounting and Sage 50 Quantum Accounting applications, related products and services, and associated documentation were created by third parties and are hereby acknowledged as follows:

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Trademarks Sage, the Sage logos, Peachtree, Sage Payment Solutions, Sage 50 Intelligence Reporting, Timeslips, DacEasy, "Accuracy. Control. Results.", "Get the Insight Behind Your Numbers", "Your business in mind.", and "Accounting Behind the Screens" are registered trademarks or trademarks of Sage Software, Inc. or its affiliated entities. Microsoft, Microsoft SQL Server, Excel, Outlook, Windows, Windows Vista, the Windows logo, and the Microsoft Internet Explorer logo are registered trademarks or trademarks of Microsoft Corporation in the United States and/or other countries. Innovision is a registered trademark of Innovision Corporation. Hewlett Packard and HP are registered trademarks of Hewlett-Packard Development Company, L.P. DynaZIP is a registered trademark of Inner Media, Inc. WinZip is a registered trademark of WinZip International, LLC. Quicken and QuickBooks are registered trademarks of Intuit, Inc. Amyuni and the Amyuni logo are trademarks of Amyuni Technologies Inc. Sentry Spelling Checker Engine is a trademark of Wintertree Software, Inc. Pentium is a registered trademark of Intel Corporation. Other product and service names

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Table of Contents

Copyright and Trademark Information

1

Table of Contents

i

Getting Started

1

Activate Sage 50

1

What do you want to do next?

1

Sage 50 Activation Information

1

What do you want to do next?

2

Sage 50 Activation Options

2

Update Your Existing Sage 50 Activation Information

2

What do you want to do next?

2

Activate Two Versions of Sage 50 on the Same Computer

3

What do you want to do next?

3

How Do I: Getting Started Topics

3

Getting Started Overview

3

What do you want to do next?

4

Working with Your Accountant

4

How Sage 50 Handles Cash-Basis

4

Customer and Vendor Aging

4

Projected Cash Flow

4

Payroll

4

Inventory

4

Related topics

4

Cash Basis or Accrual Accounting (Getting Started)

5

Related topics

5

What do you want to do next?

5

The Benefits of Accrual Accounting

5

What do you want to do next?

5

The Benefits of Cash Basis Accounting

5

Tax Benefits

6

Less Time/Simplicity

6

Related topics

6

Example of Cash vs. Accrual

6

Dates and Accounting Periods (Getting Started)

6

The Conversion Date (Getting Started)

6

Global Options (Getting Started)

6

Your Chart of Accounts (Getting Started)

7

Related topics

7

G/L Beginning Balances (Getting Started)

7

What do you want to do next?

7

Necessary Accounts (Getting Started)

7

Batch vs. SmartPosting vs. Real-Time Posting (Getting Started)

8

Aging (Getting Started)

8

Customer Statements (Getting Started)

9

Account Segments (Getting Started)

9

Learn More

9

Masking (Getting Started)

9

Masking Types

10

Department Masking (Getting Started)

10

Rollup Masking (Getting Started)

10

Type Code Masking (Getting Started)

10

Lists

10

Learn More

11

What do you want to do next?

13

Lists Settings

13

EZ-Access to Lists

14

Create a New Company - What You Need

17

What do you want to do next?

17

Create a New Company

17

Create a New Company - Introduction

18

What do you want to do next?

18

Create a New Company - Company Information

18

Create a New Company - Select Method to Create

18

Create a New Company - Copy Company Information

19

Create a New Company - Chart of Accounts (Copy Existing Company)

19

Create a New Company - Business Type

19

Create a New Company - Subsidiary Companies

20

Create a New Company - Subsidiary Company Passwords

20

Create a New Company - Accounting Method

20

Create a New Company - Posting Method

21

Posting Method

22

Create a New Company - Accounting Period Structure

22

Create a New Company - Accounting Periods (Custom Setup)

22

Create a New Company - Define Account Segments

23

Create a New Company - Fiscal Year

23

Create a New Company - Finish

24

Sage 50 Setup Guide

24

How Do I Get to the Setup Guide?

24

Using the Guide

24

Convert Sage 50 Company Data to a New Release Format

25

Before Starting the Data Conversion Wizard...

25

Starting the Data Conversion Wizard

25

Data Conversion Wizard - Introduction

26

Starting the Data Conversion Wizard

26

Open Company As

26

Opening Multiple Companies Simultaneously

27

Limitations When Opening Multiple Companies

27

Maintain Company Information

28

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