8 Great Reports to Use in Sage 50 Accounts

By Jane E. Kelly

Sage 50 Accounts comes stuffed to the gills with handy features, amongst which are its reporting abilities. You can choose from a range of reports; here, you can find out about eight of the most useful.

  1. Nominal Activity Report

    This report identifies all the transactions that are associated with a specific nominal code. It is a very useful report to run when you’re investigating costs that perhaps look a little odd or high when you are reviewing your Profit and Loss report. You can access the Nominal Activity report directly from the nominal codes module, or it can be automatically produced when you review the Profit and Loss report and click on the blue hyperlinked values shown there. The drill-down function enables you to look at the category breakdown figures which, in turn, provide clickable links to each of the nominal codes and shows the nominal activity for each of the items that you click on.

  2. Aged Debtor Report

    Provided that you’ve updated your financial records for the month and reconciled your bank accounts fully, you’ll be able to print off an accurate Aged Debtor report at a specified period in time. This report will greatly aid your collection of debt and should be used regularly by the credit control function within your organisation.

  3. Aged Creditor Report

    Assuming that you’ve entered all purchase invoices and reconciled your bank accounts fully, you will be able to print out an accurate Aged Creditors report to show you which suppliers you currently owe money to and how much. This report is useful in helping you to ensure that you pay suppliers on time, to maintain a healthy relationship with them and to ensure prompt delivery of stock as and when you need it.

  4. Trial Balance Report

    The Trial Balance report forms one of the management reports that you will more than likely print off at the month end. It provides a useful mechanism for scanning down the list of accounts to look for unusual amounts and potential issues that you need to address before the accounts are completed for the month and a Profit and Loss and Balance Sheet are issued to Management.

  5. Profit and Loss Report

    The Profit and Loss report is one of the key financial documents that any manager or director of a business will be keen to look at. It is often produced at the end of each month and always at the year end, and it provides a view of turnover and costs associated with the business, ending in the Net profit or loss associated with that business. This report is often requested by the business bankers and is used to assess the financial performance of a business.

  6. Balance Sheet

    This report provides a snapshot of a business at a single point in time. The Balance Sheet is a summary of all the assets and liabilities of a business and shows how the business has been financed, by way of capital introduced and retained profits.

  7. Day Book Reports

    Sage provides a myriad of day book reports, for customers, suppliers, nominal codes and bank accounts. These can be very useful when you are checking and reconciling VAT returns but can also be useful for example, if you simply want a chronological list of invoices produced for a specific customer. It is worthwhile taking time to review each module and to take a look at the day book reports on offer, to see which ones you might find useful. You can save them as a favourite, so that you can quickly access them in the future.

  8. Customer & Supplier Activity Reports

    You may be asked to look at the activity of a specific customer or supplier, particularly if there is a query with that account. The activity reports allow you to isolate all invoices and payments made against that specific account and print them out in order to resolve any issues that you may have. You can access these reports from the Customer/Supplier module and by clicking on the Reports icon and then either Customer Activity or Supplier Activity from the resulting list of options.