Line50 v11 User Guide Powerful accounting software for growing businesses Copyright This document and software described in it are copyrighted with all rights reserved. Under copyright laws, neither the documentation nor the software may be copied, photocopied, reproduced, translated, or reduced to any electronic medium or machine readable form, in whole or in part, without prior written consent of Sage (UK) Limited (`Sage'). Failure to comply with this condition may result in prosecution. This computer program is the property of Sage. The program is protected under copyright law and is licensed for use only by a user who has returned the completed registration card included with the computer program and further is licensed strictly in accordance with the conditions specified in the Software Licence. Sale, lease, hire rental or reassignment to, or by, a third party without the prior and written permission of Sage is expressly prohibited. 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We reserve the right to alter, modify, correct and upgrade our software programs and publications Copyright: © 1999 - 2004 Sage (UK) Limited North Park Newcastle upon Tyne NE13 9AA All Worldwide Rights Reserved 02/08/2004 12701 Issue date: Pbn No: Read This... Your Sage Line 50 User Guide is made up of two parts. The first part deals with setting up your accounting system (if you are a new user) and also the maintenance of your accounts (for established users, i.e. who are upgrading). In the first part, Setting Up and Maintenance, we deal with: Installing Sage Line 50 onto your computer and using it for the first time (for new users). How to use Line 50. Setting up your company details (defaults). Setting up your nominal structure. Setting up your customer and supplier records. Entering your product or service details. Entering your opening balances. Setting up your regular monthly payments. Setting up prices and discounts for your products or services. Working with fixed assets. Setting up an e-banking system. As a new user, you will have to work through this first part to set up your accounting system. All of the sections may not apply to your business, so you will have to see which ones do apply to you and work through the relevant sections. As an established user who is upgrading, your system will already have your opening balances on, as well as most of your company details. So, you can use this part of the manual to make changes to your company details and defaults. The second part is concerned with Daily Activities and Processing and we deal with: Completing everyday tasks, such as looking after your data, using the search, making journal entries, and so on. Recording invoices and credit notes. Sales and purchase order processing. Recording payments and receipts. How to carry out credit control activities, such as chasing unpaid bills and writing off bad debts. Reconciling your bank accounts on your computer with your real bank accounts. Using advanced stock features, such as working with bills of materials. Working with Projects. Producing your VAT Return. Running a range of financial reports, including your profit and loss and balance sheet report. Running your month and year end routines. Working with Sage MIS, which is a management information system. All the tasks contained in the second part are mostly concerned with processing, i.e. working with your finances as part of your day to day accounting activities. Sometimes you may have to consult the first part of the chapter, for example, if you want to learn how to reconcile your e-banking transactions. In these instances, the User Guide will clearly direct you to where you need to go. Contents Chapter 1: Getting Started ................................................................... 1 Transferring Accounting Systems .....................................................................2 Installation........................................................................................................3 The ActiveSetup Wizard...................................................................................4 Registering Sage Line 50 ...............................................................................13 Getting Started ..............................................................................................13 About SageCover ..........................................................................................14 SageCover Online Support ............................................................................14 sage.co.uk & sage.ie......................................................................................15 Sage Training .................................................................................................15 Chapter 2: How to Use Sage Line 50 ................................................ 17 Instructions in This Guide...............................................................................19 The Sage Line 50 Options .............................................................................20 The Sage Line 50 Window .............................................................................21 Using Windows..............................................................................................24 Menu Commands ..........................................................................................25 Getting Help ..................................................................................................41 Wizards .........................................................................................................41 Debits and Credits .........................................................................................42 Chapter 3: Setting Up Your Company Details .................................. 43 The Configuration Editor ................................................................................44 Entering Your Company Preferences..............................................................68 Entering Your Company Defaults....................................................................77 Setting the Financial Year ...............................................................................77 Entering Your Bank Defaults...........................................................................78 The Euro and Other Currencies......................................................................80 The Countries Table .......................................................................................82 Passwords and Access Rights.......................................................................83 Changing Your Password...............................................................................84 Working With Internet Resources ...................................................................84 The Foreign Trader (Financial Controller only) ...............................................................................85 To Set Up the Foreign Trader .........................................................................86 Opening Balances .........................................................................................91 Sage Line 50 User Guide Chapter 4: Setting Up Your Nominal Structure ................................. 93 Nominal Ledger Accounts Explained..............................................................94 The Nominal Account Structure .....................................................................99 Control Accounts .........................................................................................100 The Nominal Ledger Window.......................................................................102 Entering, Editing and Deleting Nominal Records ..........................................108 Entering Bank Account Records ..................................................................113 The Chart of Accounts .................................................................................116 Checking Your Chart of Accounts ................................................................120 Chapter 5: Entering Customer and Supplier Records .................... 123 Planning Your Customer and Supplier Codes...............................................124 Entering Customer Defaults .........................................................................125 Setting an Account Status ...........................................................................128 Entering Customer Records.........................................................................129 Opening Balances for Customers ................................................................133 Entering Supplier Defaults ............................................................................137 Entering Supplier Records ...........................................................................138 Opening Balances for Suppliers ...................................................................141 Checking and Clearing Your Customers' and Suppliers' Opening Balances .145 Chapter 6: Entering Product Details and Planning a Stock System ................................................................. 151 Product Valuation.........................................................................................152 Setting Up Your Product List........................................................................152 Creating Product Categories........................................................................153 Entering Product Defaults ............................................................................154 Entering Product Records............................................................................157 Entering Your Product Opening Balances.....................................................161 Chapter 7: Entering Opening Balances for Nominal and Bank Accounts .......................................................................... 163 The Opening Balance Sequence Consists of: ..............................................164 Entering the Opening Balances for Your Nominal Ledger Accounts............................................................................165 Entering the Opening Balances for Your Bank Accounts ..............................167 Uncleared Items in Your Bank Opening Balance...........................................168 Checking Your Nominal and Bank Opening Balances ..................................169 Completing the Opening Balances Procedure..............................................170 Contents Chapter 8: Setting Up Recurring Entries, Prepayments and Accruals .............................................................. 173 Explaining Recurring Entries.........................................................................174 Prepayments (Accountant Plus and Financial Controller Only)............................................186 Accruals (Accountant Plus and Financial Controller Only)............................................189 Chapter 9: Pricing and Discounts .................................................... 193 Using Customer Price Lists (Accountant Plus and Financial Controller Only)............................................195 Importing Product Prices onto a Customer Price List (Accountant Plus and Financial Controller only) .......................... ...