Streets Annual Accounting Software Update Thursday 16 th October 2014 The Bentley Hotel, Lincoln

Transcription

1 Streets Annual Accounting Software Update 2014 Thursday 16 th October 2014 The Bentley Hotel, Lincoln

2 Agenda James Pinchbeck Welcome and introduction Sage 2015 How will it affect you? - Nick Dent, Channel Enablement Manager, Sage (UK) Limited An introduction to QuickBooks Online - Rob Hoyle, Senior Business Development Manager, Intuit QuickBooks Understanding What You See Common pitfalls on the way to excellent accounts - Sarah Leonard, Senior Manager and Accounting Software Specialist, Streets Chartered Accountants James Pinchbeck - Parish Notices Buffet Lunch 2

3 New Sage 50 Accounts Release Nick Dent Channel Enablement Manager Sage UKI 16 October 2014

4 Agenda 1. Sage 50 Accounts: Positioning 2. Sage 50 Accounts: Features Overview 3. Sage 50 Accounts: Core Product Demo 4. Sage 50 Accounts: Sage Drive & Apps 5. Sage 50 Accounts: Proposition & Pricing 6. Final Questions? SAGE UKI SMB 16 October

5 New Sage 50 Accounts: Product Positioning

6 New Sage 50 Accounts Product Positioning SAGE UKI SMB 16 October

7 New Sage 50 Accounts Product Positioning SAGE UKI SMB 16 October

8 New Sage 50 Accounts Product Positioning SAGE UKI SMB 16 October

9 New Sage 50 Accounts: Product Features

10 New Sage 50 Accounts Product Features 10

11 New Sage 50 Accounts Product Features SAGE UKI SMB 16 October

12 New Sage 50 Accounts Product Features SAGE UKI SMB 16 October

13 New Sage 50 Accounts Core Product SAGE UKI SMB 16 October

14 New Sage 50 Accounts: Sage Drive & Apps

15 New Sage 50 Accounts Sage Drive & Apps Local Area Network Sage 50 Internet Remote User Sage 50 Local Server Sage Drive Cloud Service Sage 50 API Service

16 New Sage 50 Accounts Sage Drive & Apps Tracker On demand insight and confidence for owner managers on the move On Apple and Android smartphones Perfect for business owners and managers plus no 50 Accounts expertise needed View real time highlights Don t rely on printed reports days out of date. Get confident decisions with up to date bank balances, profitability and sales figures Simple and convenient access to accurate key information, anywhere 16

17 New Sage 50 Accounts Sage Drive & Apps Tracker Features Access Sage 50 Accounts* data via Sage Drive Secure Logon with Sage ID and PIN Number Quick Summary Home Screen Overdue and Unpaid Invoices Summary Profit and Loss Bank Balances and Accounts details Get in touch with Customers and Suppliers Financial Summary for Customers and Suppliers On Apple and Android smartphones iphone 4 upwards running ios 7 Phones running Android v4 and upwards Will run on tablets as a smartphone app i.e not optimised *not compatible with previous versions of 50 Accounts 17

18 New Sage 50 Accounts Sage Drive & Apps Mobile Sales Everything a sales rep needs for quicker sales and better customer relationships On Apple and Android tablets Strengthen customer trust by sharing a screen and negotiating a sale together Faster sales with real-time prices, discounts, product details and Make sales people are more productive, competitive and professional 18

19 New Sage 50 Accounts Sage Drive & Apps Mobile Sales Features Access Sage 50 Accounts* data via Sage Drive Secure Logon with Sage ID and PIN Number Product and Service Records Price Lists and Discounts Create Customer Records Raise Quotes and convert to Won Place Sales Orders and Allocate (50 accounts professional only) Enter and Invoices On Apple and Android tablets ipad Mini / ipad 2 upwards running ios 7 Tablets running Android v4 and upwards *not compatible with previous versions of 50 Accounts 19

20 New Sage 50 Accounts: Proposition & Pricing

21 New Sage 50 Accounts Proposition & Pricing Choice of Core Plan (1 user/1 company) Existing Customer Tier No Cover Tier SCV0 Tier SCV2 Tier 50 Standard Core Features 50 Standard Core Features 50 Standard Core Features 50 Standard Core Features Online Support Telephone Support Sage Drive Sage Drive Sage Drive Sage Drive Accountant Collaboration Accountant Collaboration Accountant Collaboration Accountant Collaboration Remote Device (1 User) Remote Device (1 User) Remote Device (1 User) Remote Device (1 User) p/m (available before 01-Jan-15) 25 p/m 35 p/m 50 p/m + 5 Customisation Options Additional User 15 Additional HR Company 15 Additional Connected Device Mobile Sales 5 App SAGE UKI SMB 16 October

22 New Sage 50 Accounts Thank You SAGE UKI SMB 16 October

23 Break 23

24 Rob Hoyle An Introduction to QuickBooks Online A look into the all new QuickBooks

25 Small businesses are the backbone to our economy 4.9m businesses A look into the all new QuickBooks 24.3m people employed 3,300 bn turnover

26 More and more are opening their doors 400k start up each year 281k by July 2014

27 More businesses = More competition So how do you react? Work harder? Or Employ More people? Or change the way you work? Streamline your processes and make your business more efficient and profitable?

28 QuickBooks online is designed to help you do just that using Cloud Accounting A look into the all new QuickBooks

29 What is Cloud Accounting? A look into the all new QuickBooks

30 More ways to get more done with QuickBooks Online Discover the mobile power of QuickBooks Online with Intuit Pay and 26 other useful add-ons

31 QuickBooks Online Demo

32 Understanding What You See Common pitfalls on the way to excellent accounts Sarah Leonard ACA Senior Manager and Accounting Software Specialist Streets Chartered Accountants

33 Bookkeeping vs Management Accounts Bookkeeping: Record of sales Record of expenses Bank reconciliation VAT Returns

34 Bookkeeping vs Management Accounts Bookkeeping: Fixed formats VAT Returns Year-end financial accounts Tax Returns Compliance Keeping HMRC & the accountant happy

35 Bookkeeping vs Management Accounts Management Accounts: Internal Summarised accounting reports Regular and timely Relevant

36 Bookkeeping vs Management Accounts Management Accounts: No fixed format To provide timely financial information to make day to day decisions to manage the business. These are your numbers.

37 Common Pitfalls/ Mistakes Not understanding what is required Not understanding what is presented Not looking at the bigger picture Not looking at the detail Never getting round to it!

38 Why are they important? Steer your business through difficult times Report on the past Plan for the future Request support Ensure continued support

39 So what are they? Whatever is important One page summary Profit and Loss Account Balance Sheet Departmental / Trading Accounts Cashflow Other outside of the accounts KPI

40 What format? Printed Supported Month end checklist Words or numbers? Graphics or text? One page summary Think about the audience summary/detail required?

41 Profit and Loss Account Company as a whole Trading / Departmental profit and loss Project accounting for individual jobs

42 What to measure? Turnover Gross Profit Margins Net Profit Margins Departmental analysis Break even analysis Trend forecasting Results against forecasts/ budgets/ prior year

43 Balance Sheet Snapshot of the financial condition of a business at a specific moment in time What the business owns (assets) less what the business owes (liabilities)

44 What to measure? Total Net Assets all the assets less all the liabilities Net Current Assets short term assets less short term liabilities (solvency) Debtor Days or Aged Debt Profiling. Creditor Days or Aged Debt Profiling WIP days Stock Profiling Overall accuracy

45 Cashflow Forecasts Cash is the life blood of business Understand, plan and control Forecast peaks and troughs in cash balances Plan to borrow

46 Cash In and Out Cash receipts from customers Cash paid to suppliers Cash paid to employees Interest paid / received Taxes paid Dividends paid Loans repaid Don t forget the VAT!

47 I m making profits so where is my cash?

48 Where is the cash getting stuck? Fixed assets Stock are you carrying too much? WIP are you too slow at completing work? Debtors are they slow to pay? Loan repayments / interest Corporation tax / VAT Dividends

49 What else impacts on profit?

50 What to measure? 'Not everything that matters can be measured, and not everything that is measured matters Elliot Eisner: The Arts and the Creation of Mind

51 What to measure? Complaints Returns Satisfaction surveys Returning customers

52 Common Pitfalls Not looking at all. Looking at the wrong time. Looking at the wrong things.

53 Debtors Cash in bank Sales Creditors Check Regularly Use of cloud / remote access to stay on top of the numbers. Do consider how up to date the information is.

54 Common Pitfalls Cut off turning bookkeeping into accounts What is significant to your business?

55 Common Pitfalls Stock Accruals Prepayments Deferred Income Accrued Income

56 So how do you produce them? Make the most of the software Get tidy Understand what you are looking at Get a checklist / month end routine Generate the key reports from your software Consider what is key to your business Consider how you present the information

57 Need some help? Stage One: Get tidy Understand what you are looking at

58 Need some help? Stage Two: Get a month end checklist / routine Generate the key reports from your software

59 Need some help? Stage Three: Consider what is key to your business Consider how you present the information

60 Need some help? Let us produce them for you on site or remotely Have training to produce them yourself Share the work load short term or longer term

61 Free Advice For Hints & Tips, FAQs, Guides & Articles and more please visit

62 The most popular pages on our Sage Shortcuts website: How to reverse a journal on Sage

63 Join Our Software User Groups Notified when new articles are posted - keep informed of topical issues and new features Receive details of our software seminars & workshops Hear first about our classroom training events Share user experiences sageusergroup@streetsweb.co.uk quickbooksusergroup@streetsweb.co.uk

64 Understanding What You See Common pitfalls on the way to excellent accounts Sarah Leonard ACA Senior Manager and Accounting Software Specialist Streets Chartered Accountants 64

65 Parish Notices James Pinchbeck Marketing Partner Streets Chartered Accountants

66 Forthcoming Events Parish Notices Taming the Dragon 2 The Sequel - 12 th Lincolnshire Leadership & Management Centre, Brayford Wharf East, Lincoln, LN5 7AT Building a Better Business Going for Growth, with Lincolnshire Chamber of Commerce - 6 th The Showroom, Tritton Road, Lincoln, LN6 7QY Tactical Tax and Financial Planning for you and your business 2014/15-13 th The Bentley Hotel, Newark Road, South Hykeham, Lincoln LN6 9NH

67 Parish Notices Download our app Streets iaccountant Join our Bookkeepers Club complete the feedback form Follow us on Connect with us on LinkedIn - streets-chartered-accountants

68 Parish Notices Lincolnshire Business magazine - Arriving on Friday 17 th October, bringing you the latest business news from across the Greater Lincolnshire area. - Subscribe to the briefing at or follow on

69 Streets Annual Accounting Software Update 2014 Thursday 16 th October 2014 The Bentley Hotel, Lincoln