Sage 50 Quantum Accounting Software is used by large business owners with extensive accounting needs. It is a high-performance desktop software best suited for the construction, manufacturing, and distribution industries.
Sage 50 Quantum 2024 includes features such as Role-Based security, work tickets, a job navigation center, SmartPosting, and a Job and Project Management Center. Including this software for managing your businesses will help you save time and ease monitoring finances. In this article, you will gain insights into what Sage 50 Quantum Accounting is, why you should buy the Quantum plan, its key features, and the benefits of using this software.
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Reasons Why to Buy Sage 50 Quantum Accounting Plan
Users with preferably large-sized businesses requiring more accounting must buy Sage 50 Quantum Accounting for its top-notch performance. Compared to Sage 50 Pro and Sage 50 Premium, the most features are present in Sage 50 Quantum. This plan can also be used by small or medium-sized businesses with advanced accounting needs. Features such as centralized business management, analytical tools, industry-specific solutions, workflow automation, advanced inventory management, My dashboard, and more are a few features that make Sage 50 Quantum stand out from the rest of the plans.
Key Features of Sage 50 Quantum Accounting 2024
Sage 50 Quantum 2024 stands out as a robust accounting software tailored for businesses seeking advanced functionalities. Here are its key features, explained in a reader-friendly manner:
My Dashboard: Customizable Business Insights
The My Dashboard feature allows you to design a personalized display of your company’s data. You can create multiple tabs to organize and view critical information, including customer details, vendor data, inventory status, job progress, and general ledger (GL) reports. This flexibility ensures you can quickly access and monitor the metrics most relevant to your business.
Order Process Workflow: Streamlined Transaction Tracking
With the Order Process Workflow, you can effectively monitor the status of transactions in both sales and purchasing. You can define specific steps for tracking, receive notifications for status updates, and assign default users to each step. This ensures that when a transaction’s status changes, it automatically gets reassigned to the appropriate team member, saving time and reducing errors.
User Management: Enhanced Control and Flexibility
For businesses managing multiple users, Sage 50 Quantum 2024 offers several tools:
- Log Users Out: Administrators with the right permissions can log out all or selected users. They can choose to do this immediately or send a notification with a countdown, ensuring minimal disruption.
- Up to 40 Users: The software supports licenses for up to 40 named users, making it scalable for larger teams.
- Role-Based Security: Simplify user permissions by assigning rights based on roles or job titles. This eliminates the need to configure individual settings for every user, enhancing security and efficiency.
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Bill of Material (BOM) Revisions: Flexible Assembly Management
This feature is a game-changer for businesses dealing with assembly items. In previous versions, the BOM for an assembly item was fixed. Now, with Sage 50 Quantum Accounting, you can create revised BOMs with specific effective dates. Any assembly transactions after the set date automatically follow the updated BOM, ensuring accuracy in production processes.
Quantity Discounts: Flexible Pricing Strategies
The software allows you to establish multiple discount tables, each offering up to five quantity breaks. These discounts are linked to specific inventory items rather than customers, providing flexibility in pricing strategies. Additionally, quantity discounts can be combined with price levels to meet diverse business needs.
Work Tickets: Simplified Production Tracking
The Work Tickets feature provides a straightforward way to track the production of assembly items. While not as detailed as a full work order system, it helps businesses manage and monitor production tasks efficiently.
Multipacks and Unit of Measure (UOM) Conversions
Sage 50 Quantum simplifies inventory management by allowing each item to have different units of measure for stocking, purchasing, and selling. For instance, you can buy items in bulk (e.g., by the case) but sell them individually (e.g., by the piece), making inventory operations more adaptable.
Job Navigation and Management Centers: Comprehensive Job Oversight
The Job Navigation Center consolidates all job-related tasks, transactions, and reports in one place. It also provides a job list that highlights the status of each project. Meanwhile, the Job & Project Management Center offers customizable modules—up to 20—to display key job data. These tools ensure you have instant access to the status and progress of any project.
Progress Billing: Flexible Invoicing Options
For jobs requiring phased billing, the software supports Progress Billing based on three methods:
- Percent of Completion
- Percent of Contract
- Percent of Proposal
This flexibility ensures accurate and tailored invoicing for ongoing projects.
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Contractor Insurance Tracking: Simplified Compliance Management
The addition of a dedicated insurance tracking tab in the Maintain Vendors window helps you stay on top of contractor compliance. You can record essential details such as policy numbers, expiration dates, insurance provider information, and notes for various types of coverage, including worker’s compensation and general liability.
SmartPosting: Efficient Transaction Processing
The SmartPosting feature blends the advantages of real-time and batch posting. While you save transactions as usual, the SmartPosting service handles the actual posting in the background, allowing you to continue working without delays. The SmartPost Manager gives you real-time visibility into pending transactions and the option to switch between real-time and batch posting modes based on your needs.
Benefits of Using Sage 50 Quantum Plan
Sage 50 Quantum Plan offers a range of features designed to optimize business operations. Here’s how it benefits users:
- Advanced Inventory Management: Streamline inventory with tools like unit of measure conversions and bill of material (BOM) revisions, ensuring precision in stock management and assembly processes.
- Workflow Automation: Simplify transaction tracking with the order process workflow, which monitors transaction statuses and sends real-time notifications for updates.
- Enhanced User Management: Manage teams effectively with role-based security settings and the ability to log users out when needed, ensuring smooth and secure operations.
- Industry-Specific Solutions: Tailored functionalities address unique needs across various industries, making it a versatile solution.
- Supports Up to 40 Users: Perfect for larger teams, Sage 50 Quantum allows seamless collaboration across departments with support for up to 40 named users.
This plan is ideal for businesses looking to enhance productivity and collaboration while addressing their industry’s specific needs.
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Conclusion
Sage 50 Quantum 2024 is a comprehensive solution designed to meet the complex needs of established and large-sized businesses. Its blend of customizable dashboards, efficient workflows, flexible user management, and advanced inventory and job management tools make it an indispensable asset for companies looking to streamline operations and improve productivity.
Frequently Asked Questions
Why should I buy the Sage 50 Quantum Accounting Plan?
You should buy the Sage 50 Quantum Accounting plan since it is the only plan that is packed with features. If you have a well-established industrial business, you should go for it.
Is Sage 50 Quantum better than Sage 50 Premium?
Sage 50 Quantum Accounting is better than Sage 50 Premium in terms of added features and the size of the business it’s catering to. If your business is related to construction, manufacturing, and distribution industries then Sage 50 Quantum will suit your business needs. On the other hand, if your business is medium-sized and your accounting needs are also comparatively less, then Sage 50 Premium will suit you best.
What features are added in Sage 50 Quantum that are not included in Sage 50 Pro?
You get many features in Sage 50 Quantum Accounting that are not present in Sage 50 Pro. A few of these features included multi-user functionality, purchase orders and change orders, advanced reporting, advanced budgeting, audit trails, order process workflow, faster processing, role-based permissions, and many more.
How many people can access the company file in Sage 50 at one time?
In Sage 50 Accounting, around 1 to 40 users can access the company file at one time without any interruptions. This will help in increasing the overall productivity of the people who are looking after the company’s finances.
