Managing your financial position.

By encmarketing, Thursday, 3rd November 2016 | 0 comments
Filed under: Business.

Welcome back to your series on Sage 200 Standard Online. Last week we examined Reasons why Sage 200 Standard Online makes perfect business sense and this week we are going to examine how Sage 200 Standard Online can help you Manage your Financial Position.

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Sage 200 Standard Online is a cloud-based software solution designed to grow with your business.  Standard Online is accounting software that offers a single solution to help you manage your business accounts, stocks, and accounts.  It can be difficult to find a solution that allows you to get complete control over your finances.  Sage 200 Standard Online gives you complete control over every financial aspect of your business.

Quick overview

With Standard Online, you can manage your accounts online quickly and securely.  This easy to use online accounting solution is easy and secure and grows with your business.  Unlike on-premises solutions, you can access your accounting information anywhere anytime. Standard Online provides accurate financials in real-time so you can capture your finances immediately.  You can drill down as deep as you need to with all finance submissions.  This feature is critical in any industry to ensure you know exactly where you stand in your current finances.

Flexible accounting

You can gain more control over each accounting period for current and closed periods. You can re-open accounting periods as necessary.  You set the length of the accounting periods and setup the structure year by year.

Control your stock and orders

You can respond quickly and accurately to customer demands with a comprehensive view into the stock held in your company.  Manage stock in several locations concurrently for any reason such as sales, reporting, stock takes, etc.  Stock levels can be realigned quickly and you can set suppliers against any items or mark them inactive if you no longer sell a specific item. Check freight costs based on historical shipping of stock items so you can forecast freight charges for deliveries.  You can automatically send purchase orders to suppliers on a recurring basis to ensure you never run out of stock and never have overstock.

Bank reconciliation

You can save time by eliminating the need to rekey bank statements by reconciling them in tandem with your current banking software.  Reconcile bank statements with a repayment option and record any discrepancies, transactions, and charges from your dashboard.

Manage your balances

You can view the liquidity of your accounts through easy inquiries.  The data management tool is easy to use.  You will never have to second-guess what your balances are or write them down or track them in any unsecured location such as email.

Summary Dashboards

Sage 200 Standard Online introduces new interactive dashboards to give you an entire overview of your business financials.  You can view every sale, purchase, sales order, purchase order, and stock control.  The dashboard is your home page and resource center that provides complete control any time of the day or night. Fixed Assets Also new to Sage 200 is a Fixed Assets register that allows you to record your assets and manage the depreciation of them with a straight line or reduced balance method.  All reports are easy to manipulate and generate as needed.  The Fixed Assets register can be opened in a new workspace or you can select from a couple of reports to view the details and valuation of your assets.

Make an informed business decision

When you analyze historical trends and data in Sage 200 Standard Online, you can receive the accurate information you need to make informed business decisions.  Perhaps you need to invest in a new inventory barcode scanner. You can check your account balances and find out when the right time for the investment would be.  You may be able to afford that new barcode scanner sooner than you think, or perhaps you should put it off for another quarter until sales pick up again after a dry sales season.  With Sage 200 Standard Online, you’ll always know exactly where your business financials stand.

Thank you for reading this article. Did you find it useful? Did it raise some questions? Do you think you need to relook at your Accounting system?  Please call us on 01 424 2222 or email us on if you would like to discuss. We can help. We look forward to speaking with you.

Next week we will be examining how Sage 200 Standard Online can help change the way you run your business with Cloud Computing

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