Sage 50- FAQ

Frequently Asked Questions

1. Can I use Sage 50 (ex Peachtree) for GST reporting?
Ans: Yes, our accountants have been using Sage 50 (ex Peachtree) for accounting and GST returns for our clients. We use accounts and job codes to tag GST items for GST reports

2. Do I have to pay any yearly maintenance fee after buying Sage 50 (ex Peachtree)?
Ans: No, you only need to pay for one-time Sage 50 (ex Peachtree) software license. We provide Sage 50 (ex Peachtree) set-up, training and support, which we charge only when you require these services.

3. Do I need to know accounting to use Sage 50 (ex Peachtree)?
Ans: No, you do not need to know accounting to do data entry in Sage 50 (ex Peachtree). We can set up Sage 50 (ex Peachtree) for you, then train you how to use it. Our accountants can review and adjust your accounts after your data entry at a fee of $400 per day, excluding transport.

4. For how long can I use Sage 50 (ex Peachtree)?
Ans: You can use Sage 50 (ex Peachtree) for several years. You may wish to upgrade to latest version of Sage 50 (ex Peachtree) when it offers new features which you need, or when your new operating system does not allow export from your older version of Sage 50 (ex Peachtree) reports to excel file.

5. Can I use Sage 50 (ex Peachtree) for more than 1 company?
Ans: Yes, you can create many companies in Sage 50 (ex Peachtree)

6. Can Sage 50 (ex Peachtree) handle consolidation of accounts for a few companies?
Ans: Yes, Sage 50 (ex Peachtree) Premium has consolidation features.

7. What modules does Sage 50 (ex Peachtree) have?
Ans: Sage 50 (ex Peachtree) has integrated modules including general ledger, sales, purchases, inventory, project, payroll and fixed assets.

8. How many standard reports does Sage 50 (ex Peachtree) have?
Ans: Sage 50 (ex Peachtree) has more than 30 standard reports. You can use Financial Wizard to build your own financial reports. Sage 50 (ex Peachtree) Premium includes Crystal Report Writer which provides enhanced and advance reporting.

9. How many users can Sage 50 (ex Peachtree) support?
Ans: Sage 50 (ex Peachtree) Premium can support up to 5 concurrent users. Sage 50 (ex Peachtree) Quantum can support up to 40 concurrent users.

10. Does Sage 50 (ex Peachtree) provide audit trails?
Ans: Yes, Sage 50 (ex Peachtree), except for Sage 50 (ex Peachtree) Pro, provide audit trails.

11. Can I view online reports after data entry?
Ans: Yes, you can set to post transactions on real time or batch basis.

12. How long has Sage 50 (ex Peachtree) been in the market?
Ans: Sage 50 (ex Peachtree) has been established for more than 30 years.

13. How often are enhancements to Sage 50 (ex Peachtree)?
Ans: Sage 50 (ex Peachtree) is enhanced every year – new release is available middle of every year.

14. Where is Sage 50 (ex Peachtree) made?
Ans: Sage 50 (ex Peachtree) is made in USA.

15. How long has your company been distributor of Sage 50 (ex Peachtree)?
Ans: We have been Sage 50 (ex Peachtree) distributors for about 10 years.

16. Can I export Sage 50 (ex Peachtree) reports to excel file?
Ans: Yes, you can export Sage 50 (ex Peachtree) reports to excel file.

17. Can I import data into Sage 50 (ex Peachtree)?
Ans: Yes, you can import data in csv format into Sage 50 (ex Peachtree).

18. What are the benefits of using multi-user version of Sage 50 (ex Peachtree)?
Ans: Up to 5 users (Sage 50 Premium), and up to 40 users (Sage 50 Quantum) can enter data into Sage 50 (ex Peachtree) common database at the same time.

19. How many years of data can Sage 50 (ex Peachtree) maintain?
Ans: Sage 50 (ex Peachtree) can maintain up to 2 years of data, after which year 1 must be closed for year 3 data.

20. Is Sage 50 (ex Peachtree) in IRAS Accounting Software Register?
Ans: No, Sage 50 (ex Peachtree) does not allow IRAS to generate more details to facilitate IRAS’ audit of accounts.

21. Can Sage 50 read earlier versions of Peachtree files?
Ans: Yes, when you upgrade to Sage 50 software, data conversion from Peachtree software is automatic provided you are on the same or higher product range and Peachtree is in Windows version. E.g. Sage 50 Pro can read files from Peachtree Pro, but Sage 50 Pro cannot read files from Peachtree Premium, since Pro is a lower version.

22. Differences between the versions of Sage 50?
Ans: Pro Accounting: entry level version, with the fewest features and no multi-user support. Premium Accounting: offers more features than Pro Accounting, such as account segmenting; multi-user licenses available. Quantum Accounting: includes all features of the lower tier versions and more; multi-user licenses available, up to 40-users

23. Can Sage 50 Premium auto calculate fixed assets depreciation monthly?
Ans: No. The system does not automatically calculate. The figure has to be entered manually.

24. Does Sage 50 support multi-currency?
Ans: No. Only single currently.

25. Can we claim the PIC for this software we buy from you? Is it an approved item by IRAS?
Ans: Yes, for software and training. Your Company must have at least 3 employees contributing to CPF. However, PIC will be ceased by YA2018 thus this is only applicable for software purchased before 31 December 2017.

26. In future after I purchase for this Sage 50 Premium Accounting, if I want to upgrade to Quantum Accounting, is there any problem to migrate my data over? I do not wish to just key in the opening balances as what I’m facing now.
Ans: It is okay to upgrade from Premium Accounting to Quantum Accounting. However, take note that number of users must be the same or above. There might be an issue in migrating data if its more that 7 yrs.

27. Is there a limit to how many companies I can create?
Ans: No, there is no set limit on how many companies you can create and maintain with the program. You are only limited by hard drive space.

28. Payroll in Sage 50?
Ans: All Sage 50 software have payroll component but the module is not applicable here.

29. Will the program run on a Tablet?
Ans: Sage 50 requires the full version of Windows to run.

30. Obsolescence Message
Ans: This message appears when there is product upgrade every year. You can still continue to use your Sage 50 software, as product updates are normally for payroll modules, mainly US tax, which is not applicable here. It will not affect the continue usage of the software.