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Sage Instant Accounts For Dummies

Name: Sage Instant Accounts For Dummies
Author: Jane E. Kelly
ISBN: 9781118848050

by Jane E. Kelly

June 2014

Beginner

298 pages

6h 1m

English

For Dummies

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Introduction
About This BookFoolish AssumptionsIcons Used in This BookBeyond The BookWhere to Go from Here
Part I: Getting Started with Sage Instant Accounts
Chapter 1: Introducing Sage Instant Accounts
Looking at Two Sage Instant OptionsInstalling the SoftwareGetting what you need before you get startedMoving to the installation itselfSetting Up with the Active Set-Up WizardFinding Out How Easy Sage Is to UseBurying the accounting jargonLooking at the screen layoutIntroducing process mapsNavigating Around SageExploring the Menu barNavigating the Task pane, Links list and Module buttonsUsing Wizards
Chapter 2: Creating Your Chart of Accounts and Assigning Nominal Codes
Understanding as Much as You Need to about AccountingDabbling in double-entry bookkeepingNaming your nominalsPreparing reportsLooking at the Structure of Your Chart of AccountsChecking out the default COAIdentifying Balance Sheet codesLooking at Profit and Loss codesLeaving gaps and mirroring codesAccommodating floating nominalsEditing Your COAAmending your COACreating a new COAChecking Your COAPreviewing errorsLooking at some common errors
Chapter 3: Setting Up Records
Choosing How to Create Your RecordsGetting a quick start using the Record iconSwitching off the process mapsFollowing the wizards brick by brickCreating Customer and Supplier RecordsSetting customer and supplier defaultsDeleting customer and supplier recordsCreating Your Nominal RecordsExploring your nominal recordsRenaming existing nominal recordsAdding a new nominal recordLooking for a nominal recordLooking around a nominal recordDeleting a nominal codeRecording Your Bank AccountsRenaming an existing accountCreating new accountsDeleting a bank recordGetting Your Product Records in OrderCreating a product recordEditing a product recordDeleting a product record
Chapter 4: Recording Your Opening Balances
Timing Your Switch to SageObtaining Your Opening BalancesEntering Opening Balances Using the WizardEntering your default dateEntering customer and supplier balancesReversing the nominal balances in preparation for entering the Trial BalanceEntering the Trial Balance from your accountantEntering the un-cleared transactions for your bank accountChecking opening balances against the Trial Balance from your accountantChecking your dataBacking up your dataManually recording opening balancesRecording opening bank balances manuallyRecording nominal opening balances manuallyPutting in opening balances for productsChecking Your Opening BalancesPrinting an opening Trial BalanceDealing with errors
Part II: Looking into Day-to-Day Functions
Chapter 5: Processing Your Customer Paperwork
Posting Batch Entry InvoicesCreating Credit NotesRegistering Payments from Your CustomersMatching payments to invoicesGiving credit where due – allocating credit notesRecording payments on accountDeleting Invoices and Credit NotesManaging Write offs, Refunds and ReturnsPerforming Customer Refunds
Chapter 6: Invoicing Your Customers
Deciding on an Invoice TypeCreating InvoicesPutting in the detailsGetting to the main attractionFilling in the order detailsGetting down to the footer detailsManaging Your Invoice ListPrintingUsing Quick PrintUpdatingDeletingUsing defaults
Chapter 7: Dealing with Paperwork from Your Suppliers
Receiving and Posting InvoicesSetting up your receiving systemPosting invoicesGetting CreditAllocating a Credit NotePaying Your SuppliersManaging Write offs, Refunds & ReturnsSupplier refunds

Chapter 8: Recording Your Bank Entries
Understanding the Different Types of Bank AccountsKeeping up with the Current and Deposit accounts (1200/1210)Counting the Petty Cash account (1230)Handling your Cash Register (1235)Managing the company credit card (1240) and credit card receipts (1250)Tracking Bank Deposits and PaymentsTransferring Funds between AccountsRepeating Recurring EntriesGoing for consistency with your bank entriesRepeating customer and supplier paymentsMaking regular journal entries – if you dareProcessing and posting recurring entriesDealing with Petty CashFunding petty cashMaking payments from the tinReconciling the petty cash tinPaying the Credit Card BillMaking paymentsReconciling the credit card statement
Chapter 9: Maintaining and Correcting Entries
Checking and Maintaining Your FilesChecking dataMaking correctionsRe-indexing dataCompressing dataRebuilding dataFinding Ways to Find TransactionsSearching For RecordsBacking Up DataRestoring Data
Chapter 10: Keeping Track of Your Products
Taking StockAdjusting stock levelsChecking stock activityAdjusting your Opening and Closing StockStock ReportsProduct Activity ReportProduct ListProduct ProfitabilityStock Take reportSelling Stock
Part III: Running Monthly, Quarterly and Annual Routines
Chapter 11: Reconciling Your Bank Accounts
Recognising Reasons to ReconcileGetting Ready to ReconcileDoing the Actual ReconciliationTroubleshooting when Your Account Doesn’t ReconcileRounding Up StragglersListing un-presented cheques and outstanding lodgementsRemembering recurring entries
Chapter 12: Running Your Monthly and Yearly Routines
Adding Up AccrualsCounting Out PrepaymentsDepreciating Fixed AssetsWriting down your assetsPosting assets and depreciationEntering JournalsCarrying Out Your Month-End RoutineTicking off your checklistRunning the month-endClearing stock transactionsClearing your Audit TrailDoing a Year-End Routine
Chapter 13: Running Your VAT Return
Understanding Some VAT BasicsKnowing your outputs from your inputsCracking the codesComparing Sage’s VAT accounting methodsRunning the VAT ReturnCalculating your VATChecking Your VAT ReturnChecking under the standard schemeChecking with cash accountingMaking Manual Adjustments to Your VAT ReturnReconciling Your VAT TransactionsVAT TransferRecording a VAT paymentSubmitting your return to HMRCSubmitting your VAT return manually via HMRC
Part IV: Using Reports
Chapter 14: Running Monthly Reports
Making the Most of Standard ReportsChecking the Chart of Accounts FirstFiguring Out the Financial ReportsTrying for an initial Trial BalanceAccounting for profit and lossComparing profit and lossWeighing the Balance SheetViewing the Audit TrailDesigning Reports to Suit Yourself
Chapter 15: Tackling the Complicated Stuff
Exporting DataSending spreadsheet stuffTransferring Microsoft Outlook contactsExporting to Microsoft WordLinking to Your AccountantSending accounts to your accountantManaging material changesGetting back adjustments and narrativesTrying e-BankingConfiguring your e-BankingOpting for e-paymentsReconciling electronically
Chapter 16: Running Key Reports
Checking Activity through the Nominal CodesLooking into Supplier ActivityTracking Customer ActivityChecking Numbers with Supplier Daybook ReportsFinding the Customers Who Owe YouPaying Attention to Your CreditorsHandling Unreconciled Bank TransactionsRanking Your Top Customers
Part V: The Part of Tens
Chapter 17: Ten (Okay, Eleven) Funky Functions
Browsing for Help with F1Calculating Stuff with F2Accessing an Edit Item Line for Invoicing with F3Finding Multiple Functions at F4Calculating Currency or Checking Spelling with F5Copying with F6Inserting a Line with F7Deleting a Line with F8Calculating Net Amounts with F9Launching Windows with F11Opening Report Designer with F12
Chapter 18: (Not Quite) Ten Wizards to Conjure
Creating a New Customer AccountSetting up a New SupplierInitiating a New Nominal AccountCreating a New Bank AccountLaunching a New Product (For Sage Instant Accounts Plus Only)Helping Out at Month-End: Opening/Closing Stock (For Sage Instant Accounts Plus Users Only)Saving Time: Global ChangesKeeping Others in the Loop: Accountant Link
Appendix: Glossary
About the Author
Cheat Sheet
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Overview

Get to grips with Sage Instant Accounts in simple steps.

This comprehensive guide walks you through every aspect of setting up and using Sage Instant Accounts, from downloading and installing the software to customizing it to your needs. Packed with handy step-by-step instructions (and fully illustrated with screenshots), this book is the easiest way to get the most from Sage Instant Accounts and take control of your business finances.

Learn to:

Keep track of money in and out and easily view your cash position

Produce reports on your business performance and profitability

Store customer information and easily generate quotes, invoices and remittances

Record and accurately manage your VAT - and submit your VAT return to HMRC online

Prepare for business audits and your financial year-end

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