February 2019 brings us some exciting new features and fixes in this Sage Financials upgrade. Some of the improvements include Making Tax Digital, migrations and improvements to the opening balances. So, let’s take a look!
In Product Migration
A new in-product import function has been introduced in v91 of Sage Financials. This means your data migration can be completed within Sage Financials from Sage 50, QuickBooks and from Microsoft Excel. During the import process, you are able to see the types of data you are importing as well as the volume of data. You can also keep track of the progress of your import using the Process Monitor.
Safe Upgrades in Sage Financials
Due to frequent upgrades in Sage Financials, Sage is introducing in this upgrade, Safe Upgrades. Safe Upgrades means you will get the benefits of the new monthly features without compromising your systems existing customisations. Core elements of Financials will be locked from this release meaning users will not be able to edit them. If you have custom versions of any Sage Financials core elements you must clone them.
Attach Files to Emails
You will now be able to include all attachments and files when sending Sales Docs via email. Previously, the only items that could be added to emails were files stored as attachments.
Preview Contract Schedules in Sage Financials
This new feature helps you check that the Recurrence information is entered correctly. Reduce errors by previewing the schedule to check it is correct before saving a contract.
Support for Person Accounts
In Salesforce, if you are using Person Accounts you can now create a supplier or customer in Sage Financials using the record type, Person Account. A new Record Type field is shown when creating a new supplier or customer record if you have Business Accounts and Person Accounts record types.
Opening Balance Revaluation in Sage Financials
Consolidated companies that use different currencies now have an improved method used for revaluing opening balances at the beginning of the financial year. The new method provides increased accuracy, greater visibility of the exchange rates used, improved processing time and better support for the multi-company and multi-currency environments.
Making Tax Digital Improvements in Sage Financials (UK)
The Making Tax Digital (MTD) VAT submission will search for transactions dated before your VAT return period. It will also let you choose if you want to include them as part of your VAT return. If you have any transactions dated after the company start date that is dated before the VAT period and are eligible for VAT you will now be prompted to take the following action:
- Exclude them from the current VAT return and future VAT returns
- Include them in the current VAT return
- Include them in a future VAT return
Customise Customer Statements
Using your own visualforce page, you can now create a custom statement. Just create the page, add the field Statement Report to the Dimension object and link the page to the Customer dimension.
Other Improvements in Sage Financials
- When converting sales and purchase documents, you can now see the Unit Price on the conversion screen
- For CSV imports there have been updates to the feeds
- In order to view the Productivity area you need to add it as a menu item, it is no longer displayed as default
Sage Financials Fixes
- Datev – Previously, the CSV attachment was missing from the Datev export
- Bank Reconciliation – AP allocations no longer appear as the default Journal Type when you click New Journal on the matching screen
- Customers – The dimension tag ID is now being passed to the report filter which means when you post a Sales Invoice you can now view it on the customers’ activity statement
- Allocations – Allocations can no longer be future dated. Previously a warning message appeared
- Contracts –
- The date is now retained when updating the first regular bill date on the Recurrence tab of Contracts
- If you create a contract with more than 9 items, the PDF now correctly shows all the items and covers multiple pages if required
- The scheduled amounts are now updated when you update an exchange rate on a contract
- Consolidation – When you provisionally run the Year End process and cancel it, the ledger entries for period 98 are deleted, however, some balances are left on the period. Now when you run the adjustment process these remaining balances are ignored and do not affect the closing period 98 figures
- Migration – Migration workbooks can now import customer and supplier email addresses with alternative domain locations and capitalisation
This is another great update from Sage packed with functionality. From an implementation point of view, the improvements to migration and upgrades make things much easier. If you have any questions about any of the new functionality, reach out to one of the team who will be happy to talk you through!