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Sage Accounting is cloud-based accounting software tailored for small- business owners and freelancers to keep up to date with their essential bookkeeping, tracking inventory, and managing invoices. 

Sage offers various solutions, including Sage 50cloud Accounting, Sage Intacct, and Sage Accounting. 

Sage 50cloud is a software solution that provides ease of use and automation for small businesses. Sage Intacct is best for medium-to-large-sized companies, offering financial management and budgeting tools. 

Sage Accounting is one of the premium accounting software on the market utilized by CPAs and startups alike. Sage also offers iOS and Android apps to let you manage your general ledgers from your mobile devices.

We have provided a detailed review of the benefits and features of choosing Sage Accounting Software.

Sage Accounting at a glance.

There are many things to love about Sage Accounting Software. Let’s take a brief look at a few pros and cons.

  • Double entry accounting
  • Affordable monthly subscriptions
  • 30-day free trial
  • ERP features
  • Unlimited users with a second-tier plan
  • Fully functional mobile app
  • Third-party integrations and add-ons
  • Comprehensive reporting and expense tracking
  • No time tracking feature
  • Can only access receipt capture through a monthly subscription plan
  • Outdated software interface

Key features of Sage Accounting:

Invoice management

With Sage Accounting Software, you can create and send invoices directly to customers and track their payments. Their accounting software integrates with the Stripe payments/processing platform, allowing customers to choose their preferred payment method. 

Payments sync to your bank accounts and will enable you to accept credit card payments from anywhere, allowing you to keep your records in one place. 

Through the invoice manager, you can view sent and pending invoices, including overdue invoices. Users can set up automated payment notices to get paid quicker and on time. Sage accounting provides optional invoice templates for you if you desire.

Bill payments

Sage Accounting’s bill payment feature contains accounts receivable (A/R) and account payable (A/P) functions, which show how much you owe suppliers and how much customers owe you to keep your records and payments organized. 

You will receive auto-generated reports of outstanding customer payments and past due dates of sales invoices. 

The accounts payable (A/P) feature keeps your invoices, transactions, and due dates in order so that you are up to date with who and what you owe others.

Inventory tracking

Sage Accounting’s inventory tracker feature gives you a real-time update on your inventory levels. You can upload all of your products and categorize them, which allows for efficient inventory management saving you time and energy, especially if you are a retail business. 

You can track product quantities, set reorder periods, and receive out-of-stock alerts to know when you need to restock. This also gives you a good idea of what items in your inventory sell out the fastest and are most popular.

Business reporting

Sage Accounting Software can compile all sorts of business reporting ranging from cash flow statements, balance sheet data, profit analysis, sales tax reports, and 1099 vendor and contractor reports.

These reports are easily accessible and can be ready for you immediately, allowing you to analyze your business’s financial data and make better data-driven decisions.

Benefits of Sage Accounting:

Along with the key features of Sage Accounting mentioned above, there are other beneficial features offered by this accounting software.

Multi-currency support

When catering to customers abroad, Sage Accounting makes it easy with its multi-currency feature that allows you to create invoices and manage payments between international banks and currencies under one system. 

You will be able to categorize the transactions you made in each country and review exchange rates to adjust your rates accordingly.

Bank linking

Upon linking your bank accounts to your Sage account, the software will reflect your up-to-date bank history and transactions, invoices, and payments, saving you time on cross-referencing and improving your data accuracy.

Sage Accounting offers automation with multiple banks, including American Express, Chase, Citibank, and Bank of America.

Mobile app

Sage’s mobile app access is available with every account subscription on iOS and Android to give you quick and easy access to your accounting needs on the go. 

With the app, you can create, share and send invoices, track payments, track inventory, and track all expenses and account balances.

Third-party software integration

Sage Accounting allows integration with third-party software and applications such as Gusto, Zapier, and Salesforce CRM.

Time tracking add-on

With Sage’s time tracking add-on, you can make every minute count, literally. This time tracking module makes it simple to set up your projects and tasks and set budgets, task rates, and billing preferences for each project. 

You can also automate invoice-out times linked to your timesheet entries or manually invoice-out tasks linked to a project. Link expenses to projects and optionally automate recharging them to your customers, too.

Downsides of Sage Accounting:

Outdated interface and dashboards

Compared to its competitors, Sage Accounting’s dashboard is outworn and resembles an old desktop interface. Although it is easy to navigate and use, it lacks a modern appeal. 

Competitors such as Wave, Zoho, Quickbooks, and Freshbooks boast contemporary content which is more attractive to its users.

Setting up your Sage Accounting account.

After signing up for Sage Accounting, you can access the main dashboard. You will see the summary tab from the main dashboard view, which provides an overview of critical financial information such as sales, purchases, expenses, and cash flow. 

You can navigate to different sections in your account through the navigation bar displayed across the top of your dashboard. 

Upon signing up for the first time, you will have the option to use the Getting Started Wizard to walk you through the initial steps of setting up your account. This wizard will prompt you to enter generic information about your business, like the company name and address, and link your bank accounts. 

Once you have linked your bank accounts, your transactions will automatically download and be stored in your Sage account, which will streamline the process for your bookkeeping. 

When you are ready to input vendor and customer information, you can easily import your contact data directly into Sage Accounting if it is in an existing spreadsheet. At this point, you will also be able to set your chart of accounts, enter opening account balances, and review your balance reports. 

If you seek further assistance to open up an account, there is an online help center where you can chat with a Sage customer service representative by clicking on the chat button at the top right corner of your screen. 

If your business works with an accountant, they can sign up for Sage Accounting Accountants Edition. Once their account is made, they can send you a direct email invitation that will link accounts. Once the invitation is accepted, your accountant will have full access to all your data in your Sage Account. 

Pricing plans.

Sage Accounting Software offers two monthly subscription plans with no contract. You can upgrade your plan anytime and enjoy a free 30-day trial. 

  • Sage Accounting Start: $10 per month for a single user, ideal for self-employed professionals or micro businesses. 

    Features include creation and invoice tracking, bank account connectivity and expense tracking, process online card payments, automatic bank reconciliation, financial reporting, mobile app access, and many third-party integrations. 
  • Sage Accounting: $25 per month for multiple users and is ideal for small businesses. There is currently a 70% off promotion for the first six months upon signing up, which adjusts the price to $7.50 per month.

    Features include everything in Sage Accounting Start, bill tracking, inventory management, quote creation and estimates, cash flow predictions, and invoice management. Also included are automatic snap and post receipts, free for the first three months. 

The bottom line.

Most suitable for small businesses, Sage Accounting’s cloud-based software offers an array of features necessary to keep your business financials in order. 

With this software, you can receive international currency conversion capabilities, real-time bookkeeping, invoice management, and expense tracking. If you are a larger business with more employees, Sage Accounting may not be your best option. 

If you can look past its outdated interface software, Sage Accounting could be an excellent option for a business accounting service. All businesses need various programs and software to keep them organized and running smoothly. We can help guide your business to success

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