You know it is important to lower taxes and increase profits. You also know that it is imperative that you have enough money in the bank to pay the bills, but do you know how to access vital information and the Key Performance Indexes to measure your business progress in Sage 50–Canadian Edition?
Let’s start with the Income Statement and Balance Sheet found in the report center on the home page.
The Income Statement indicates:
- Which expenses are paying you back and should be increased.
- Which expenses should be cut back or eliminated.
- Which products are profitable and which are not.
The Balance Sheet indicates:
- What your business owns – Assets
- What you business owes – Liabilities (or financial obligation)
- Shareholder or Owners Equity – ROI (return on investment)
They also provide Key Comparisons information like:
- Last month vs. current month.
- Last quarter vs. current quarter.
- Year to date. Year to date by month.
- Current month to same month last year.
- Current quarter to same quarter last year.
Combining these two statement numbers will indicate important ratios you can use to manage your success.
Increase your profits by utilizing the Business Performance Monitoring feature:
The key financial ratios of liquidity, efficiency, operating, financing and profitability are all at your finger tips in Sage 50–Canadian Edition. The software provides a detailed performance measurement explanation and graph to help you analyze the information in an easy to understand format.
You will find this Key Business Performance information in the Daily Business Manager under the Business Assistant Menu on the home page. Click on the radio button indicating Business Performance. To get a complete list of all ratios available go to the view menu and chose options. You are able to add any that do not appear on the main page to your customizable list. (See screen shots below)
It is important to know your strengths and weaknesses, manage spending and credit. Have money when you need it. These are all important ratios that Sage 50 helps you to reach and manage greater success.
Dianne Mueller CPB
Certified Sage Trainer
Soma Small Business Solutions
Here is a link to Bianca’s Sage Summit Blog – Hashtag Sage Summit
Soma Small Business Solutions had a great time attending our first Sage Summit. I hope you read this blog and join us next year at Sage Summit 2013 in Washington, DC.blog
In layman’s terms, Sage City is like a hybrid of education, social media and networking all in one event. Don’t get left in the dust or you may end up like this guy –
can I be your friend?
There are great business relationship benefits that you get from networking events where you meet other people who share similar common interests, goals and expertise as you. To access these benefits you have to get out from behind that desk of yours and go to places like Sage Summit “A place where networking actually works”, also known as Sage City where you can take your Big Idea to a Small Village. I quite enjoy attending round table product sessions and discussing the product I’m using or interested in with like-minded users. From what I gather, I will get my fix by attending a village at Sage City.
At Sage City on Tuesday August 14th at 3:30pm, we will all explore numerous villages based on the top business interests of Sage Summit attendees (Customers, Partners and Staff). Villages provide the primary means for Sage to organize attendees into groups with common goals, backgrounds, challenges, and perspectives. Sage City aims to place similar customers by product, interest, and hot topics in small groups to create meaningful, long-lasting connections. (sounds a bit like marriage, no? Well maybe not the small groups part!)
Hot topics will be determined through several means, including surveys prior to and during registration, social media tools, Facewall, and more. The number of hot topics will vary from village to village and will be displayed on their chat walls. What are chat walls you ask? Well, there will be white-board style signs that will be displayed at each village. This is where the collaboration will happen, you can give solutions and get answers all in one place, a village working together.
Speaking of villages, remember where’s waldo? That’s what I will be asking when I am trying to find YOU (yeah you!) at this conference if you are not on Facewall. You will definitely know where to find me. Maybe I’ll be a village Host, maybe not. I guess you will have to wait to find out won’t you? Hopefully by the time I finish writing this blog someone will have won the 100th facewall sign up and receive a gift certificate to the Grand Ole Opry! It’s super easy, all you do is set up your profile during the registration process!
Soma Small Business Solutions