Sage Final Accounts Online
18 December 2014, Charities, Companies, Employer, Musicians, Sole Traders
Major upgrade to Sage One Accounts
Sage has been a leader in the market for desktop accounting packages to Small and Medium sized Enterprises (SMEs) for some time, but it has been slow in catching up with other online accounting packages.
What has changed?
Enhanced subscriptions have been added over time, including the Accounts Extra package, but the massive improvement is that your annual accounts can now be produced directly from within Sage One.
What difference will it make?
Companies have to produce their annual accounts in a standard format. Accounts need to be submitted to Companies House and HMRC in iXBRL format. Many accountants still transfer your financial records on to their own final accounts software. This means that you are paying extra for their time to transfer everything as well as for their software charges. An even bigger hidden cost is that many accountants don’t bother keeping your Sage One accounts up to date. This radical upgrade means it is more likely that your accounts will bear some relation to your financial statements held by Companies House.
What should I do?
If you are company, check your accounts with Companies House and see if they agree with the figures in Sage One or your own accounts software. Non-companies eg Sole Traders and Partnerships should still have a signed set of accounts each year to submit to HMRC. If the accounts you signed don’t agree with the figures in your accounting ledger, than your accountant probably has a bit of explaining to do!
Be in control of your accounts
Sage Final Accounts Online comes as standard with all the Sage One accounts packages. If your accountant doesn’t trust you with your own figures and keeps their own secret ledger, not only are they hiding information from you, they make it difficult for you to be in control of your accounts and change accountant.
How Alterledger can help
Alterledger is Sage Online Accountant and can use Sage Final Accounts Online to make sure that you know how your business is doing. Please contact Alterledger for more information on streamlining your accounts.
.@Alterledger on Sage Final Accounts Online #AlterLegend http://t.co/SV2JeNxtn9 pic.twitter.com/E4YJbfEgYf
— Sage Exchange (@Sage_Exchange) December 18, 2014
