As most of you are now aware, our upgrade cadence on Sage Financials is changing dramatically – as is the content of the upgrades. Back in February Sage announced they were bringing the development of Sage Financials to a close. That meant that our last upgrade, v92 back in March was our last upgrade to include any ‘product innovation’.
June brings us our first upgrade of the new format. The new format is much more bug fixes and compliance focussed. The future releases will also be aligning future releases with the Salesforce major release schedule of ‘Spring’ – February, ‘Summer’ – June, ‘Winter’ – October.
Please Note: All future releases will be push releases. In a similar fashion to the Salesforce releases, you will have no control over when an upgrade gets pushed to your account – this will be done automatically by the team at Sage.
The v93 upgrade includes fixes for bank feeds, ledger entries and fixed assets as well as including custom tax rates on UK VAT return. Let’s take a look through some of the most prominent fixes and features included in this months upgrade.
Include custom tax rates on UK VAT Returns
Tax rates can now be included on your UK VAT return. An error message will appear when submitting your VAT return if you have not configured your custom tax rates correctly. This means that you can now use the standard reports and remain MTD compliant even if you are using your own custom tax rates.
Bank Feeds and Bank Reconciliation in Sage Financials
The new Bank Reconciliation has been warmly received by users, though there were a few teething problems that have been ironed out with this upgrade. The following were issues logged that have now been fixed around the bank feed and bank reconciliation:
- When matching large numbers of journals in the Bank Reconciliation an error appeared
- If there were more than 50,000 feed executions (Bank Reconciliation transactions) present in an org, an error occurred whilst getting bank transactions
- When the ‘Get Transaction’ process was canceled and restarted, bank transactions were not being downloaded
- A bank transaction could be reconciled to more than one journal
- If the save button was clicked more than once, multiple journals were created when creating a new journal from bank reconciliation screen
The Fixed Asset module was introduced in V92. One of the main issues with this was the status of previously processed depreciation journals changed to ‘pending’ when they failed to post. This has been resolved in this release.
Within Financials, you have the ability to renumber ledger entries. However, after renumbering 200 ledger entries, the renumbering process failed! This has now been resolved.
Products in Sage Financials
The following issues surrounding Products in Sage Financials have now been resolved:
- When entering line items on an invoice via the grid entry, the available products were not filtered by their associated product group
- The tax code was not pulled through when the product was added to a transaction via the grid even when a default tax code was set to the product
- When adding stock items to transactions, a rounding error occurred
The following points have now been resolved for issues relating to Transactions.
- You could still post transactions to a restricted period, the validation rules have been changed to fix this
- When a transaction was set to post directly to the ledger account, the dimensions were not being shown on the line items
- The purchase invoice number and supplier were removed when you edited a line item on a purchase invoice that included recognition
When you drilled down on the balance enquiry, a ‘Page not available’ error occurred – this is no longer the case.
If the ‘Is Universal’ option has been changed on the supplier dimension, an error occurred when posting a transaction. Is Universal should not be ticked if you have more than one company – if this is the case, please contact your support team!
When posting a transaction, a ‘Reference null object’ occurred, the Rule Value is now mandatory on all posting rule dimensions
When there were no transactions to display, an error showed on the page
Sage Invoice Payments
On the AR by Customer report, the Bank Charges were included incorrectly
The value for Box 6 when viewing the UK VAT return incorrectly included the value of invoices with the UK Purchase Reverse Charge tax treatment
This upgrade is the first of the bug fixes & compliance cadence. If you would like any more information on what this upgrade brings or would like to talk to one of the team about how you can best optimise Sage Financials for your business, let us know.
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