Free Google Hangout: Join us February 11 as we discuss how to maximize your time and find more hours in the day with cloud technology

With tax season upon us, who couldn’t use a few extra hours in the day!

Join us on Tuesday, February 11 from 1-2 p.m. ET (10-11 a.m. PT) in our Google Hangout and we’ll discuss ways to help maximize your hours so you can get more done and have more of that most valuable of commodities . . . time!

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This complimentary event is open to all accounting and bookkeeping professionals. The hangout will feature a panel discussion among accounting and small business experts:

  • Rieva Lesonsky, CEO of GrowBiz Media; former editorial director of Entrepreneur Magazine
  • Jennifer Warawa, vice president & general manager, Sage Accountant Solutions
  • Lawton Ursrey, product marketing manager, Sage One; owner/founder of Indie Peace

Make it through tax season with more time than you thought possible. Attend this complimentary Google Hangout and learn how connecting with your clients in the cloud can make all the difference!

 

New to Google Hangouts? No problem!

It’s fun and easy to get started. Once you sign up, we’ll send you an email confirming your attendance with a link to join on the day of the event. It’s that easy! We look forward to seeing you soon!

  • What: Google Hangout – sign up here!
  • When: Tuesday, February 11, 1-2 p.m. ET (10-11 a.m. PT)
  • Topic: Maximize your time and find more hours in the day with cloud technology
  • Cost: No cost, compliments of Sage Accountant Solutions!

 

 

Calling all accountants!

We have an opportunity for several accountants who would like to gain some visibility and thought leadership exposure to a broad base of business owners. You have to love giving advice and have a healthy interest in blogging or social media!

Sage is launching a new online community platform in June 2013 called “Sage City”. (Yes, SAN has its own section and its own gated forums!) You’ll hear more about this initiative as we get closer to launch date, however we have an opportunity for a few SAN members to become bloggers in the Accounting group and we need to get started right away.

What’s the Accounting group? Basically it’s where users from all kinds of Sage products will come to ask accounting related questions and to read accounting tips from the experts. The questions won’t relate specifically to a software but will have more to do with accounting principles or policy changes in general.

If you’re interested or would like to know more details, please email Kimberly.Creamore@Sage.com.

And stay tuned – more general information on the launch and the community are coming soon!

Sage Summit

Would you like to expand your business? Do you know how to prospect new clients, create marketing messages, and maintain a web presence that works to capture leads?

At Sage Summit we have just the type of sessions to help you grow your business like:

  • What’s Twitter? Getting Started and the Basics of Twitter
  • Best Practices of High-Performing Accounting, Bookkeeping, and Consulting Firms
  • Marketing Is Dead—How You Can Restore Your Marketing Efforts to Reach Your Prospects
  • Public Relations: It’s up to You!
  • Effective Ways to Benchmarking Your Website KPIs
  • Sage CRM: The Five Biggest Business Challenges and How Sage CRM Can Solve Them

There’s something for everyone. Browse through the Sage Accountants Network Recommended Session Guide to easily identify sessions that will help you maximum your time at Sage Summit. Register Now

Recertification Ends June 16, 2013!

All certified Premier Advisors and Consultants must take the yearly product recertification exam to maintain their certified status. This is in addition to the Certified Consultant and Master Certified Consultant courses. All partners are required to achieve a passing score of 80%. Everyone will be required to pay a $50 recertification fee. Once you access and purchase the recertification assessment located in your transcript, review and study the list of resources provided on Sage University, and attend the 50U221—Sage 50—U.S. Edition—What’s New in 2014 live webcast, you are ready to successfully pass the assessment.

Register at Sage University

Sage 50 Accounting Remote Activation Application

For Sage 50 Accounting 2014, there are new modifications to the Sage 50 Remote Activation Application. The application will assist support analysts with troubleshooting a failure to activate the software. The application can run as a standalone process and provides help with retrieving/applying the Pervasive key, retrieving activation information, and showing a detail log of all the activity and communications with the Sage Pass server.

  • The executable for the application is SageReg.exe and the file resides in the Program Path directory.
  • Always run the application as an administrator when UAC is enabled on the workstation.

Running the Sage 50 Remote Activation Application
Prior to running this application, always make sure the computer contains the company data. Always run this application on the computer that holds the Sage 50 data (server computer).

1.    Double click on the SageReg.exe, file located in the Program Path.
2.    The Sage 50 Remote Application main window will launch.

Retrieving a new Pervasive key (Sage 50 Activation tab)
1.    On the Sage 50 Activation tab, select the Activate button to retrieve a new Pervasive key. During this
process, there is communication with the Sage Pass server when there is a need for a new Pervasive
key. Sage Pass will return a new Pervasive key and the activation files (entitlements.xml and
softwareinstallations.xml).
2.    A warning message will appear with a successful activation. In order to complete activation process, open
Sage 50.
3.    There is a log created during this process on the Sage 50 Activation tab. This logging will display some of
the exceptions returned by Sage Pass and Atlas.
4.    The last step to complete the activation process is to start Sage 50 on the computer that stores the
company data. Sage 50 will complete the activation automatically.
5.    The process is complete; select the OK button on the Activation Complete window.

Need an Extra Reason to Attend Sage Summit?

Presentation Skills Workshop/Certification

Are you responsible for training colleagues or customers? Do you conduct presentations to peers or management? Attend this two-day workshop to enhance your presentation skills. At Sage Summit you will learn how to deliver effectively in various environments and what taboos to avoid that most presenters are unaware they do. Sage offers a two-day in-person Presentation Skills Workshop to assist you in becoming the best presenter possible. The course is very interactive, enabling you to build confidence whenever and wherever you are presenting. All participants will need to provide their own laptops loaded with their product software.

This course is one of the requirements for anyone wishing to be classified as a Sage Certified Trainer.
Dates: July 24-25, 2013
Time: 8:30 a.m.-5 p.m. ET
Cost: $300 (50% OFF regular price)

Register Today!

Sage 50 Accounting – Explanation of Variance

Variance shows up when you allow inventory levels to go below zero. It is used to track the difference between the average cost and the actual cost of an inventory. Variance is not harmful. It indicates that Sage 50 is accurately posting cost information in the absence of purchase cost information.

The following example shows how variance is calculated.

Transaction 1:   Suppose the current item quantity is 10 and the value is $50. The cost of each item is $5 ($50/10).

Transaction 2:   On the next day, 30 items are sold. Even though there are only 10 items on hand, Sage 50 calculates the cost for the 30 items using the existing cost information of $5 per item. The total cost amount is $150 ($5*30).

Transaction 3:   On the following day, 40 items are purchased at $12 per unit. For the 20 units of the item that were previously sold, Sage 50 will adjust cost to $7 per unit. This is due to the fact that the cost was already calculated at $5 per unit for 20 units of the item that were sold previously.

(new cost – $12) – (old cost -$5) = $7 variance per item

The total variance is then calculated by $7 * 20 = $140

This is the general ledger report of the inventory asset account

Description

Debits

Credits

Balance

Transaction 1

50

50 Dr

Transaction 2

150

100 Cr

Transaction 3

340

240 Dr

The $340 debit in transaction 3 is calculated by:

(Total cost in transaction 3 – 40*$12 = $480) – (variance – $140) = $340

After Transaction 3, the item quantity is 20 and the value is $240. Therefore, the cost of each item is $12. $140 will be debited to the variance expense account. This is how variance properly reflects the cost of the inventory.

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