Sage One Accounts Extra is a business accounting package for growing SMEs, particularly those looking to expand overseas or already doing business overseas. It is able to handle foreign transactions, as well as VAT returns (regardless of which VAT scheme a business is registered, and which VAT status). The company adds that, following its latest Sage One and Sage One Payroll services, the product is an addition to Sage’s growing online portfolio, ‘providing customers with more power, visibility and control over the most important aspects of their financial affairs.’ Sage is rather ambitiously claiming that this is one of its most significant technology launches in the UK. Sage One Accounts Extra is priced at £25 a month excluding VAT, and you can sign up for a free 30-day trial. This should give would-be users full access to the software. The package is entirely online, meaning that you can access it from any internet-connected computer. For a further £18 per month, you can set up additional businesses and manage these with the same login credentials. Logging-in is straightforward, and takes you straight to a no-frills Summary screen, where you can get your business details set up. Opening balances can be set up with relative ease, and most functions are reasonably easy to figure out without needing to rely on the ‘Help’ function or calling the support team. But certain mistakes in data entry – for example, in entering the wrong financial year end or start date – can be tricky and time-consuming to correct or undo. Care must be taken when entering details for the first time if you are looking for a quick set-up. Also on the Summary screen are graphs representing sales, purchases, cashflow and the cashflow forecast. Other tabs include Sales (where you can create invoices, credit notes and sales quotes, or quickly enter sales details if short of time); Purchases (where users can do the same for purchases); Contacts (for customers and suppliers); Products & Services; Banking; Journals; and Reports (that is, for accounting and VAT). Professional-looking invoices and credit notes can be generated and even sent by email from the software quickly and efficiently. Aged debtor and creditor reports can be customised to suit a business’s needs. Details of foreign suppliers and customers can include the type of currency with which to invoice. The service uses live exchange rates to convert prices to or from British sterling. While Sage One Accounts Extra can be used by a range of businesses and sizes, it is perhaps best suited for SMEs, rather than, say, micro-businesses or freelancers or the self-employed; and while those with little to no accounting experience should be able to use the package, it would be much better suited to those with some accounting experience.
