Invoicing In Sage 50 Accounts
Different ways to keep your cash flowing ...
Posted by Alison Mead on 27/01/2020 @ 8:00AM
For most companies, invoicing in Sage 50 is a crucial part of the business. You may be great at what you do or have a fantastic product to sell, but if you don't effectively raise your invoices then send, track and chase them, your business will not last long ...
Efficient invoicing in Sage 50 means you can keep that all important cash flowing!
copyright: sifotography / 123rf
We all know the phrase "Cashflow is king", and a badly produced invoice can delay payments and really affect a customers view of your company. Sage 50 has a choice of different invoicing options depending on the nature of your business.
Plus it has several add on tools which can import invoices into Sage 50 if you wish to raise your invoices in an industry-specific piece of software, or even hold the details for your invoices in excel spreadsheets.
"Batch invoicing is also available!"
This is a quick way to post an invoice transaction against a customer or supplier. This doesn't affect stock, and you can't email or print the invoice. This method is typically used if you create your invoices outside of Sage and you have not yet looked into importing your invoices directly.
If you use the Sage 50 Product and Services module and want to send your customers invoices, you can use a product invoice. With this method, you can select products or services in the Product and services module, and your stock levels are updated.
This method is often used when you don't need to track stock in Sage, but you have a selection of standard items or services you need to invoice which always say the same thing, to prevent you typing a complicated description on each invoice. It can be another time-saving technique if used cleverly.
If you don't use the Products and Services module, but still want to send your customer an invoice, you can use a service invoice. With this method, you can enter free-text as the service details. With each invoice here you need to type the text in the invoice individually.
Often, if invoices are sent to lots of people with the same text, a product invoice with a service item line might be the better option. Conversely, if your invoices are long and complicated with lots of detailed job-specific text, then a service sales invoice will be your best bet.
"Both Product and Service invoices can be printed or emailed to customers, and you can personalise them with your logo or brand!"
Historically, companies printed these on bought stationery, but we can edit designs now which mean you no longer need to use headed paper or invoice stationery. The invoices can look great printed on plain paper if you edit the layouts. Always make sure your methods of payment and bank details are clearly stated on your invoice.
Remember sending an invoice is a request for payment so always ensure you make it as easy as possible for your customers to pay you promptly, and to contact you if they have a problem with the invoice. There is nothing more frustrating than trying to pay a supplier and having to call them to find out how to pay them.
Until next time ...
Would you like to know more?
If anything I've written in this blog post resonates with you and you'd like to discover more, it may be a great idea to give me a call on 01604 217365 and let's see how I can help you.
About Alison Mead ...
Alison loves bookkeeping and supporting bookkeepers. She has been helping clients to be better bookkeepers in Sage 50 for over 24 years and has been Xero Accredited in accounts and payroll for a number of years too.
She specialises in a very unique hand-holding method of training, helping bookkeepers and business owners to use their accounts software as and when they need support in setting up and producing their invoices, reports and financial information.
Alison combines her role at Silicon Bullet with her Forever Living network marketing businesses and is often to be seen at business networking meetings as she likes to keep busy.
You know what they say: if you want something done well ask a busy person!
More blog posts for you to enjoy ...
Other bloggers you may like to read ...