2018 Review of Sage50cloud

Sage 50cloud Accounting offers a unique hybrid product, with the features and functionality of a desktop application along with the ability to access the system from any location. Sage 50cloud is a good fit for small businesses and nonprofit organizations, and offers a complete financial solution. Sage 50cloud is a popular product for businesses within construction, manufacturing, retail trade, distribution, and transportation as well. Scalable, very small businesses can opt for the single user system, purchase Sage 50cloud Premium, which can support 1 to 5 users or Sage 50cloud Quantum, which can support up to 40 users.

Found under the Analysis Tools, the Cash Flow Manager allows users to easily track and manage all cash coming into or going out of their business. Ideal for businesses that need to be able to forecast both current and long-term cash flow, the Cash Flow Manager allows users to create scenarios that can benefit their business and their cash flow. Users can enter the timeframe they desire, with the ability to choose from between seven days and a full year. Sage 50 will then provide users with a detailed look at cash activity for the period specified, including Starting Cash, Expected Incoming Cash, and Expected Outgoing Cash. A graph of expected cash flows for the period selected is included on screen for users to view. To view hypothetical situations, users can utilize the ‘What If’ scenario in the Cash Flow Manager by choosing an account, and entering a transaction. This allows users to visualize the changes to cash flow that will occur if the transaction takes place.

With the 2018 version of Sage 50c, users can now establish a secure connection with banking and financial institutions in order to download bank transactions, which can be automatically matched with current Sage 50cloud transactions for a smoother reconciliation process. After transactions are matched, users can easily add bank charges or interest payments to the reconciliation statement to ensure that all transactions are accounted for.

All version of Sage 50 allows users to create a budget, but the Premium version allows multiple versions of a budget. Users can create individual budgets for both individual revenue and expense accounts as well as for projects.

Along with the Cash Flow Manager, Sage 50 also offers a Financial Manager option that provides users with operational analysis of their business or organization, including a profitability margin, a summary of both current assets and liabilities, and a gross profit analysis. There is also a Collection Manager and Payment Manager option as well.

Sage 50cloud offers multi-level security, with administrators able to set up system access by task. Complete audit trail functionality is included in the product, with users able to easily track system access and usage by date, user name, action, or other criteria as desired. An audit trail report is also available to print as well.  

Sage 50cloud offers excellent reporting capability, with a solid selection of cash management reporting options including an account reconciliation report, outstanding check report, outstanding items report, and a cash flow report. There are also a series of Intelligence reporting that offers key performance indicators displayed in an easy to read graphical summary.

Sage 50cloud is a complete financial system, with all modules working together seamlessly. Sage 50cloud also offers integration with Microsoft Office 365, as well as numerous add-on solutions offered by Sage partners.

Ideal for the small to mid-sized business or nonprofit organization, Sage 50cloud offers the best of both worlds; the security and stability of a desktop system along with the convenience of a cloud-based system. Sage 50cloud pricing varies depending on the edition purchased, with Sage 50cloud Pro starting at $439 per year, 50cloud Premium running $679 per year, and Sage 50cloud Quantum costing $1729 per year.

Overall Rating – 4.5 Stars