How to Improve Cash Flow with Sage Payment Center?
It’s no surprise why Sage 50 has become one of the most sought after accounting software for businesses, within a short span of time. It has helped businesses and accounting professionals streamline their accounting activities and gain the desired efficiency at the same time. With the help of its incredible payment module, businesses can make payments in time; track how much to receive from the customers and improve their cash flows.
In this blog, we are going to discuss one extremely important feature embedded in the Sage Accounting software the Sage Payment Center. It performs as the ‘one stop solution ‘where businesses can deal with all types of transactions.
What is the Sage Payment Center?
The Sage Payment Center is a web service incorporated into the Sage 50 accounting software. It is designed to automate your back-end reconciliation process, irrespective of whether you accept payments at the point of sale from your customers or you invoice them. With the Sage Payment Center, you can also view all your transactions at one place.
How can the Sage Payment Center help you Improve Cash Flow?
The Sage Payment Center can provide you with manifold advantages, when it comes to improving the cash flow. Certain important benefits that can be provided by the Sage Payment Center are mentioned briefly here –
Saves Time and Improves the Cash Flow
In the Sage Payment Center, the payments received (both inside or outside your organization) are posted automatically to the general ledger. You are not required to do any manual entry. It makes reconciliation a simple and time-saving affair.
Provides Flexible Payment Options
The Sage Payment Center provides flexible payment options to customers. They can make payments from wherever they are. They can also choose any payment method as per their preference. In the Sage Payment Center, you can accept payments through debit cards and gift cards. Also, with its simple Point of Sale interface, you can process payments faster and more conveniently than ever before. All the payment information gets synced with your Sage software effortlessly and you can easily monitor your cash flow.
Get Real Time Information
With the Sage Payment Center, you can get a real-time view of all your transactions in one place. This enables you to assess the financial strength of your organization in real time. With this holistic information at hand, you can make informed decisions about where your organization stand at a particular moment and what areas to improve upon.
Get Powerful Reports and Statements
In the Sage Payment Center, the payments received ( both inside or outside your organization) are posted automatically to the general ledger. From the general ledger, all types of financial statements can be prepared. You can even check the transactions from the transaction history edit and void these transactions and generate comprehensive reports. You can dive effortlessly into your financial data. You can assess sales performance, identify business trends and manage your business more efficiently.
Easy to Configure and Operate
The Payment Center is an inbuilt tool in your Sage software and is easy to configure. You can configure it yourself, without any IT support. The activation can be done instantly.
Safe & Secure
All the software and tools from the Sage family are known to put the utmost focus on the safety and security of confidential user data. They have employed the latest security solutions to protect your data. This can save you from any imminent security breach.
General Tips to Improve Cash Flow:
- Time your capital investments properly
- Obtain a cash flow forecast regularly from your team
- Inform customers about due payments
- Print terms and conditions related to delayed payments on your invoice. This will put the customers ‘on their toes.
We hope the above discussion would help you improve your cash flow, with the help of the Sage Payment Center. If you want to have more information about this important feature in Sage 50, you may get in touch with some authorized Sage experts 1800 964 3096.
Frequently Asked Questions (FAQs)
What is the Sage Payment Center?
The Sage Payment Center is a web service incorporated into the Sage 50 accounting software. It is designed to automate your back-end reconciliation process, irrespective of whether you accept payments at the point of sale from your customers or you invoice them. With the Sage Payment Center, you can also view all your transactions in one place.
How can I Delete an Invoice in Sage 50 Accounts?
Here are the steps to follow –
💠 Open the Sage 50 application
💠 Click on the Invoicing Window
💠 Specify the invoice (s) you need to delete.
💠 Now click on the Delete tab
💠 A prompt will ask if you wish to delete invoice (s).
💠 Click Yes if you wish to delete. If you are not sure and want more time to think, click No.
💠 If any of the invoices you specified have not been posted or printed earlier, Sage will display a warning message. In this case, you may need to confirm the deletion once again.
How to Generate a NACH/ACH Payment in Sage?
Please follow the steps sequentially-
💠 Open Sage 50
💠 Click to open the menu labeled 4-3-1 Select Invoices to Pay
💠 Set it to pay the correct vendor invoices
💠 Open the menu labeled 4-3-2 Pay Vendors
💠 Mark the Payee check box for the concerned vendor.
💠 “Yes” will be displayed in the ACH available column
💠 Navigate to the Pay by field
💠 Click on the relevant option to pay in ACH Payment mode
💠 Now click on Pay Vendors
💠 The Vendor ACH Payment File Creator window will be displayed on your screen
💠 Specify the correct Deposit Date and Transaction Date
💠 Finally, click the Create File tab