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Is Sage 50 the Right Choice for Your Small Business?
I recently joined a small family business specializing in jewelry sales. They handed over boxes of statements, receipts, and bills and tasked me with organizing their entire year’s finances.
Currently, I’m nearing the end of my Accounting studies, and thankfully, the business owners are open to using any appropriate software. I decided to go with Sage 50 Premium, the software we were taught in school.
However, there’s some uncertainty regarding the cost of this software. I’m guessing the owners have already researched it online without letting me know.
Personally, I prefer Sage 50 and enjoy using a desktop application more than online, web-based, or cloud options. Nonetheless, I need to figure out the most cost-effective solution for my clients as they’re navigating some financial challenges. Additionally, I’m quite new to Bookkeeping, with limited experience in QuickBooks Online (QBO). Fingers crossed that everything goes smoothly.
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One response
When deciding whether Sage 50 is worth it for your small family business, particularly one in the jewelry industry, several factors need to be considered. Since you’re new to this role and are familiar with Sage 50 from your studies, let’s delve into some aspects to help you make a well-informed decision.
Pros of Sage 50
Familiarity: Since you learned Sage 50 in Accounting school, you probably already have a good grasp of its functionality, which can speed up the process of setting things up and minimize the learning curve.
Robust Features: Sage 50 Premium offers comprehensive Accounting features suitable for small to medium-sized businesses. These features include advanced inventory management, job costing, and business analytics, which can be incredibly beneficial for managing a jewelry business where inventory tracking is essential.
Desktop Preference: Since you prefer desktop applications over cloud-based solutions, Sage 50 might be more satisfying to use. Some find desktop solutions more reliable due to fewer connectivity issues and often faster performance.
Security: With Sage 50’s desktop version, data is stored locally, which might give you more control over security measures compared to cloud storage.
Cons of Sage 50
Cost: Sage 50 Premium isn’t the cheapest option available. As of my knowledge cutoff date in October 2023, the cost can range significantly based on the services you need (typically around $56 per month per user for Sage 50 Pro and can go up for Premium versions). It’s crucial to think about whether your business can afford this in its current financial state.
Scalability: While Sage 50 is suitable for small to medium-sized businesses, it may not scale as well if the business grows significantly larger or needs advanced, real-time collaboration.
Lack of Cloud Features: If the business needs remote access, real-time collaboration, or frequent data syncing across devices/locations — features economic in QuickBooks Online (QBO) or similar cloud services — Sage 50 might not be sufficient.
Support and Upgrades: Desktop versions may sometimes have less frequent updates compared to cloud-based solutions. Additionally, you might need to pay for support or upgrades periodically.
Considerations