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Cheat Sheet

Sage Instant Accounts For Dummies (UK Edition)

From Sage Instant Accounts For Dummies by Jane E. Kelly

Need to get a handle on your new or small business accounts? Use this Cheat Sheet for some quick and simple tips on how to use Sage Instant Accounts software to manage accounting details within your business operation.

9 Sage Instant Accounts Function Key Shortcuts

The Sage Instant Accounts function keys can save you time and effort in the midst of a frantic business day. To use the accounting software to best advantage in your new or small business, keep these key combinations in mind:    

  • F1: Wherever you are on Sage, you can press F1 to get the relevant help topics for that screen.

  • F2: This handy key pulls up a small on-screen calculator you can use to check your numbers – to see that an invoice adds up correctly before entering it, for example.

  • F3: Press this key when you’re entering details on a product invoice to open up the Edit Item Line window. Accounts Professional users can also use this key to open up the Edit Item Line window from a sales or purchase order.

  • F4: By pressing this function key, you can view the full list of a field with a dropdown arrow. It opens a calculator in a numbers field or a calendar in a date field.

  • F5: This key opens a currency converter in a numeric field and a spell checker in a text field.

  • F6: Press this key to copy the information from the cell above into the current cell you’re working on. This function comes in handy when you’re entering a batch of invoices.

  • F7: This key inserts a line above the one you’re working on.

  • F8: Press this key to delete the line you’re on.

  • F9: This key calculates the net amount of an invoice and the VAT element if you only have the gross amount (the amount inclusive of VAT).

3 Top Tips for Backing Up in Sage Instant Accounts

Keeping good accounting records is key to business success. Backing up the books is equally important when you're using Sage Instant Accounts software. Make sure your data is always protected by following these tips and reducing your risk of losing your work.

  • Make sure you take a backup at least once a day if not more. The greater the amount of data that you enter, the more often you must backup.

  • Give the backups sensible names and use the last transaction number wherever possible. This can really help you if you need to restore your data.

  • Always keep a diary note of the last transaction number entered that day, and you can cross reference this against the backup name that you have given it.

Managing Your Monthly Accounts in Sage Instant Accounts

Although your Sage Instant Accounts software can help you keep track of your business accounts, you need to carry out certain jobs each month to be sure everything is in order. Here is a useful checklist to ensure your business accounts are as up to date and as accurate as they can be:

  • Enter your sales and purchase invoices.

  • Enter all receipts and payments from cheque stubs and paying-in slips.

  • Enter directs debits, Bankers’ Automated Clearing Services (BACS), transfers and so on from bank statements.

  • Reconcile bank accounts, including credit cards.

  • Enter journals (or run wizards) for accruals, prepayments, depreciation and so on.

  • Enter stock journals or run the Open/Closing Stock wizard

  • Run VAT return (if due).

  • Enter your PAYE journals and VAT journals and run the wizards if required.

  • Run Aged Debtors and Aged Creditors reports for the period.

  • Run Profit and Loss and Balance Sheet for the period.

  • Run month-end (Tools >Period-End >Month-End).

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