The New Year brings us a variety of new features, improvements, and fixes to Sage Financials (previously known as Sage Live). January’s upgrade is a push upgrade and will be automatically applied to your org by Sage. If you want to test this first in Sandbox we encourage you to reach out to your support partner who will have access to the upgrade for you. This upgrade introduces email grouping for sales documents, improvements to contracts and improvements to aged debt and reports, amongst many other things.
Improvements to allocating sales & purchases
Sage have introduced a much more flexible and effective way to allocate payments to sales and purchases on account and credit notes. From one place you can allocate all types of credits and debits which applies to both Accounts Receivable and Accounts Payable. The improvements will let you manage partial and full allocations for multiple or single currencies, easily. You will be able to reorder lists using the column headings and filter the lists by date. Another improvement includes being able to allocate and view all unallocated debits and credits. This includes payments on account, invoices, refunds and credit notes. You will also be able to allocate multiple dates to multiple credits.
Contract improvements in Sage Financials
You can now process multiple contracts straight away from the contracts list which will minimise time. You can select the date you wish to process up to, invoices will then be generated that are scheduled up to the date you’ve chosen.
The quantity on invoices for a pro-rata period are now shown as a pro-rata amount to improve the clarity of invoices generated from sales contracts.
Improvements to aged debt & aged creditors reports
Both the Aged Debts Retrospective and Aged Credit Retrospective reports have been updated to new versions. The reports will now provide a full overview of all the different document types and can, therefore, be used for reconciliation purposes. Your existing reports will automatically be updated with the new versions.
Email grouping for sales documents in Sage Financials
Previously, an email was sent per document. January’s upgrade will ensure all documents with the same contact will group together on a single email when multiple sales documents are selected from a list and sent by email.
Ledger Accounts, Actions, and Lists have a new field which allows you to de-activate them when required.
Remove ledger accounts from the list views and lookups to deactivate them. To prevent them from being added to dimensions and tags, clear the Active check box.
You can hide list views that you don’t want to use by clearing the active checkbox. This makes the list view stop displaying but it will still remain.
You can hide actions that you don’t want to use by clearing the active checkbox. This makes the action stop displaying but it will still remain.
Purchase Order PDF improvements in Sage Financials
The Bill to and Ship to addresses when creating a Purchase Order are now populated based on the addresses from the selected company.
- The header in the Bill To header has been changed to Supplier
- Delivery Date is now the header instead of Due Date
- At the top of the Ship To address your company name will now appear correctly
- In the header of the Purchase Order, the Ship To address information is taken from the Shipping Info tab and it can be any of your company’s addresses
- Supplier Info replaces Billing Info in the header of the Purchase Order
- The Use Billing Info checkbox has been replaced by a Location To search box in the Shipping Info tab. This is listed on the Purchase Order and used as the Ship To address
Populate the ledger item description from the posting rules
You can now configure the Description on ledger items which are populated based on expressions. You can include information such as a fixed piece of text, the supplier invoice number, supplier name and identify when the invoice value was more than a certain amount.
General improvements in Sage Financials
Some smaller improvements in the Sage Financials January upgrade include:
- The rebuild ledger balance utility works more efficiently, beneficial if you have a large dataset. You can run one batch per company and fiscal year and run only in the current company.
- The first time an account is added to a transaction the company specific information about an account (supplier or customer) is set. In the upgrade, the accounts currency will also be taken from this transaction
- The ledger entry header now has two new fields, Description, and Currency. If completed within the header, the fields values will automatically apply to all ledger items
- You will be able to view and print PDFs generated from the Journal if the template is contained in the PDF Template field
- Within the Sales Invoice, invoice templates include a localised address structure. Each Sales Invoice PDF will now use the address format for your locale
- Making Tax Digital (UK Only) – An effective and compliant way to account for transactions with a tax point date that belongs to a tax submission that has already been made will be introduced in this upgrade. You are able to identify late transactions and choose how to process them appropriately. This feature is currently only available via the MTD submission for businesses taking part in the MTD beta phase.
Sage Financials Fixes
The January Financials upgrade will fix the following issues:
- EC Sales List – The EC Sales List does not include transactions with recognition and an EC Sales Tax Treatment
- Tax Submissions – The error uploading tax submissions with multiple companies in an org
- List Views – A custom list view that is set as the default view on the transaction type, is not displayed by default
- List Views – No results returned where more than filter applied and one of the filters uses the value Does not contain
- Company Consolidation – When consolidating child companies with different currencies to the parent company the exchange rate is not applied correctly
- Revenue Recognition – A revenue recognition schedules are not retained when they contain amended values
- Ledger Entry – The default UID on ledger entries that have been cloned incorrectly uses ‘-CL’ rather than ‘_CL’
- Credit Notes – There was an error deleting credit notes which have been created separately rather than from the conversion process