Disadvantages Of Pastel Accounting Software

Pastel accounting software is a relatively new application but it’s already one of the most popular pieces of business management software out there. However, like all things in life, there are some disadvantages that come along with using this software too. If you’re thinking about switching over from an old program like QuickBooks to Pastel then read on!

In this guide, we review the aspects of Disadvantages Of Pastel Accounting Software, What are the pros and cons of Sage, What are disadvantages of MYOB software, and What is pastel accounting all about?

Disadvantages Of Pastel Accounting Software

Pastel accounting software is a relatively new accounting system. It was created by a small company and has grown to be one of the most popular accounting applications available today. This software has many advantages over other programs, such as QuickBooks, which is why it’s so popular among small businesses. However, like all things in life, there are some disadvantages that come along with using this application too. If you’re thinking about switching over to Pastel software but aren’t sure if it’s right for your business then read on!

It can be a bit pricey.

The biggest disadvantage of pastel accounting software is that it can be a bit pricey. This is true even if you’re working with a reputable third-party provider like us, because there are often multiple costs involved with getting started with this sort of system:

  • The cost of the software itself.
  • The cost of training your employees on how to use it (if required).
  • The ongoing maintenance fees for your subscription.

The interface is not very user friendly.

The interface is not very user friendly.

  • It is not easy to use.
  • It is not intuitive.
  • It is not user friendly.
  • It is not simple to use

There are no free trials for the software.

If you’re considering buying a pastel accounting software package, there is one major factor to consider: it may not be for you—at least not yet. While the company does offer a 30-day money back guarantee, this policy only applies to the first 30 days of service and does not cover any additional fees or costs incurred by purchasing the software in the first place. That said, if your business is still in its formative stages and hasn’t yet settled on its accounting needs, then maybe it’s better to wait until things are more concrete before making such an investment.

If that sounds like what you’re looking for in a financial management solution for your small business then have no fear! We’ve compiled our top picks below so that whomever you decide will help manage your finances (whether yourself or someone else) can get started right away with their new toolkit!

What are the pros and cons of Sage

Bookkeeping is essential to every business whether small, medium, or large. It involves analyzing and presenting accurate records of a business’s financial transactions over a period of time. This record helps business owners and managers to see the financial situation of a company at a glance and make decisions that will improve cash flow.

As easy as it seems, proper bookkeeping is tedious. It involves a lot of stocktaking, tax calculation, and everything that sounds like the boring accounting we didn’t want to learn in high school. Now that you own a business, you have to handle the financials. Even when you hire an accountant to keep your books, you still need to invest in tools that will make the job easier.

Previously, accounting was a dreaded task for even the savviest accountant. Thankfully today, due to advancements in computer technology and software development, accounting software has become very popular. The use of software for bookkeeping has now made it easier for companies to keep accurate records as well as make adequate plans for the future.

What is Sage Software for Accounting?

Sage software for accounting is powered by Sage, a company that understands the way businesses operate and aims at providing solutions to their challenges. The software contains different features for accounting. You only need to enter your data and the tool will do the rest. It displays financial reports using very simple terminologies that everyone can easily understand.

History of Sage Accounting Software

Sage came to the limelight when David Goldman saw the need to automate accounting basics in his business. To achieve this, he partnered with two students from Newcastle University, Graham and Paul. They successfully developed software that was able to carry out repeated accounting tasks.

David soon discovered that other businesses might need a similar solution. In 1981, the team began selling the solution to printing houses, which gave birth to the famous Sage that we know today. However, the software now serves other industries apart from printers and publishers. The current solution it offers is more diversified, reaching different categories of customers with unique accounting needs.

Over the years, Sage has evolved to become a leading figure in the world of enterprise resource planning software (ERP). It partners with other businesses to ensure that its accounting solution is widely accessible. The company now provides a cloud-based solution to cater to the needs of remote workers provided they have access to the internet. This shows that customers are at the center of Sage’s activities.

Types of Sage Accounting Software

Sage Business Cloud Accounting

Sage business cloud accounting is at the apex of Sage’s accounting solution. It targets small businesses that may not have sufficient funds to pay for the services of a professional accountant. From the name, you can already tell that it is cloud-based. Therefore, its features can be accessed from anywhere as long as there is internet connectivity.

Sage business cloud accounting features include:

Debtor manager

With this feature, you can easily remember who owes you, the amount, and when the payment is due. You can also send follow-up messages to customers and get paid faster.

Electronic Invoicing

Sending invoices online is highly beneficial as you do not have to print anything. The software allows you to convert your quotation into an invoice, so you can send it immediately without doing anything extra. You can also track the activity on the invoice. This enables you to know when a customer has received the invoice and which payments are overdue.

Additionally, there is room for customization such that you can choose the colors and font that you prefer on the document. You can also add your company logo to make it more professional. In case Sage did not include specific details that are unique to your business, you can edit the invoice and include them.

Stock Management

With this feature, you can know how much you earn from each item you sell. And if you sell services or items that do not require stock tracking, you can still track them with this tool. Your items are organized for easy identification.

Advanced Inventory

This automated feature saves you time spent on tracking inventory. After each sale, the tool updates your inventory, thereby, reducing the number of errors that may arise during manual entries.

Sage Business Cloud Accounting is subscription-based and offers two plans which can be paid for either on a monthly or annual basis. Choosing the annual plan will save you 7.5 percent of the fees. Each plan offers a 30-day free trial.

Sage Time Slip

This is a billing and time tracking tool that enables businesses to accurately capture the number of billable hours of customers as well as send invoices to customers. It is suitable for legal firms and service-oriented businesses.

Sage has an e-Center for recording time slips through a web platform. You can do this on your smartphone or tablet while on the move. You can integrate Sage Time Slip with third-party tools like QuickBooks, Outlook, and LawPay. If you are worried about the learning curve, you do not have to be because the company integrates training modules in the software.

Sage Time Slip pricing is as follows:

Fixed Asset

This tool offers four modules: planning, depreciation, tracking, and reporting. They help users understand and manage their fixed assets. It has an audit advisor feature that helps users to comply with the Internal Revenue Service regulations. Its depreciation module contains worksheets and tax forms such as 4797, 4626, 4562, 4255, and 3468.

Additionally, the Sage Fixed Asset has a tracking feature that helps you to track the cost of your project so you can know which item will become a fixed asset. You can also see how the asset will depreciate over time and track each item with an auto timestamp to avoid tax penalties.

Sage Fixed Assets now offers cloud hosting in collaboration with WebHouse so users can access their accounts from the comfort of their homes, offices, or just anywhere. The platform is also secure as it encrypts communication between the server and users. It also includes multiple-factor authentication and Cisco’s single sign-on feature.

To get started, call 1-800-368-2405 or visithttps://www.sage.com/en-us/products/sage-fixed-assets/

Sage Payroll

Are you finding it difficult to process year-end payroll? With Sage Payroll, you can manage year-end payroll for about 100 employees without feeling the heat. It is also cloud-based. This means you can conveniently file P60s and pensions, prepare payslips, and pay on time. You can try it for free for 3 months, then pay £7 per month for 5 employees.

What are disadvantages of MYOB software

MYOB Accounting is Australia’s leading accounting software and has been since the late 1980s. The reason for this is simple – MYOB is simply one of the best options available on the market, providing all of the critical features required by accountants and bookkeepers to complete the most common tasks with ease and speed. 

This article takes a look at both sides of using MYOB – we’ll examine why we love it so much as well as what some of its shortcomings might be for some users – but first, let’s go over some basics that will help you understand what exactly MYOB is and how it works:

What is MYOB?

MYOB works through the use of a payroll system, which means that for those who run their businesses and need to set up employees and pay them accordingly, this is the program for you. 

In addition, it integrates seamlessly with other accounting programs such as Xero and Reckon Accounts, meaning that users can customize how it works according to what suits their needs – whether they’re an accountant using it to help clients or someone who wants to stay on top of their books.

MYOB allows small business owners to track income, expenses, creditors, debtors, purchases, inventory, jobs, time billing jobs, etc. All through a straightforward interface that makes it easy to manage everything simultaneously. Even better, there are mobile apps that allow you to perform tasks such as invoicing and account management anywhere, at any time.

How Does MYOB Work?

MYOB works by having the user input all transactions and other pieces of information into a central file – this can either be done manually or through integration with third-party programs such as point-of-sale, Quickbooks, and others – which then allows customers to create charts of accounts that show different revenue sources as well as expenses.

Each transaction is assigned a category and a code, which means users can see exactly where their money has been going at all times, letting them make adjustments wherever necessary. 

This helps users save money on taxes because they’ll know exactly what breaks apply to them whenever they prepare their returns for whichever period it may be. They can even work with their accountant to make sure everything is properly laid out.

MYOB Features

Accounts

MYOB allows you to choose from a range of accounts when recording your transactions. The categories include assets, liabilities, equity, income, and expenses. You can also create customized reports for specific purposes such as stock or debtors.

Values & units

In MYOB, you can maintain ‘account balances’ in dollars ($) or cents (¢). With the latter, you only need to enter one figure into each field regardless of what currency that figure is in. In addition, if you have an account with a balance of zero at any time, it will not appear on your reports, so there’s no chance of being caught out at tax time because a zero appears where a four would be expected! You can also display figures in any currency you choose and set up conversion rates so that all your figures still add up.

Audit Trail & Security

User access

This allows you to define what activities different users can carry out on the system, such as adding transactions or viewing reports. This feature can be applied to either individual accounts or entire companies. You can also restrict which modules each person can access (e.g., just Sales, just Purchases). Plus, you can control how many times users need to enter their passwords when performing specific tasks. Finally, a handy feature in MYOB is the ability to set up ‘time locks’ for particular functions, meaning a user cannot bypass these rules if they are trying to cheat or steal from your business.

Permissions

This requires a username and password and is activated if you choose the ‘password protect’ function in MYOB software. The information is encrypted, so an unauthorized person can’t hack into it. It also prevents any data degradation, such as missing or incorrect data entry, because your most recent transactions will always be accessible no matter how long they were entered.

Accessibility

MYOB gives users access to their accounts using most devices, including desktop and laptop computers, smartphones, and tablets (iOS and Android). You can also import bank transactions directly into your system via online banking services that use the IIF standard (more than 40 do), as well as the ability to transfer your data to or from another MYOB software program using an external disk or flash drive.

Reporting & Analysis

MYOB offers detailed reports that give you access to both general and specific information on your finances. The system also provides different types of graphs showing up-to-date figures for easy comparison and comprehensive breakdowns of transactions by type (e.g., sales, purchases). It can even tell you if there are any inconsistencies between payments received and invoices raised.

How is MYOB better than Xero?

MYOB and Xero are both top-rated options for businesses of all sizes and budgets. They’re both easy to learn how to use, and each has a variety of advantages over the other depending on what kind of business it is that you run or help run. So while we think either option will work well for you, here are some things about each program that might influence your decision:

XERO Has More Flexibility

This is because there are so many add-ons available for Xero that allow users to customize the system according to their own needs. For example, if you want to track stock at a store or have multiple locations, you can do both with Xero. However, those features aren’t available with MYOB, which is why it might be a better choice for those who want to keep things simple and don’t need the extras.

MYOB Is Cheaper

You will have to pay a monthly fee if you opt for an online system such as MYOB rather than going through the more expensive option of having your accountant buy the software on your behalf – but either way, once you’ve purchased the program your ongoing expenses are less for MYOB even though it costs quite a bit more initially. This means that you’ll save money in the long run by choosing MYOB over Xero.

MYOB Has Better Integration

This is another reason why you should go with MYOB over Xero – the fact that it integrates seamlessly with several third-party programs means that you won’t have to go out of your way to change or update anything if, let’s say your payroll service provider changes. With Xero, on the other hand, you’d need to make sure everything works together without any hiccups.

So Which One Is Better?

We honestly don’t think this is worth asking because both programs are fantastic and do what they set out to do well. Ultimately it comes down more to personal preference than anything else – which system would be more accessible for you to learn how to use? Which one feels more intuitive to you? If you’re unsure, it might be worth asking your accountant which solution they recommend and why.

What is pastel accounting all about

Sage Accounting is a cloud-based small-business accounting software. With two affordable plans to choose from, Sage Accounting offers essential bookkeeping and accounting features, comprehensive reporting and inventory tracking. Despite its affordability, however, competitors like QuickBooks Online and FreshBooks may provide a more modern user experience and greater product transparency.

Try not to get confused by the Sage naming conventions. “Sage Accounting” is used to refer to the cloud-based software we’ll be reviewing here, as well as one of the two pricing plans offered for this product — Sage Accounting Start and Sage Accounting. You may also see the Sage Accounting software called “Sage Business Cloud Accounting.” Additionally, the phrase “Sage accounting” is sometimes used online to refer to any or all of the Sage software products that perform accounting functions.

Deciding factors

How does Sage Accounting work?

After you sign up for Sage Accounting, you’ll be able to log in to your account and access your dashboard. Your main dashboard view will be the summary tab, which provides an overview of key financial information, such as sales, expenses and cash flow. You’ll be able to navigate to different sections of your account using the navigation bar across the top of your dashboard.

When you sign in for the first time, you’ll see the Getting Started wizard, which can walk you through the steps needed to get your account set up. You’ll be able to enter basic information about your business, like your company name and address, as well as create and link your bank accounts.

Once your bank accounts are linked, your transactions will download to Sage automatically, helping to streamline the reconciliation process when balancing your books.

Next, you’ll be able to enter customer and vendor information. If you have existing contact data in a spreadsheet, you’ll be able to import it directly into Sage Accounting. You’ll also be able to set up your chart of accounts, enter opening account balances and review your trial balance report.

At any time, you can visit the online help center for additional information on setting up your account, or chat with Sage customer service by clicking the chat button in the upper right corner of your screen.

With the Sage Accounting plan, you can invite multiple users to your account and assign them one of five user roles. If you are working with a professional bookkeeper or accountant, they can sign up for Sage Accounting Accountants Edition and send you an email invite from their account. Once you accept the invitation, your accountant will have full access rights to the data within your Sage account.

Sage Accounting Start users must go through this process in order to work with an accountant. However, although Sage Accounting offers unlimited users, Sage recommends linking accounts through this process for a better user experience.

Pricing

Promotional discounts may apply. Sage offers a 30-day free trial for the Accounting Start and Accounting plan. You can also schedule a one-on-one session with a Sage Accounting expert to address questions you may have, or call its sales phone line for additional product information.

Benefits of Sage Accounting

Comprehensive reporting

Between Sage Accounting Start and Sage Accounting, this software offers solid reporting features, extending beyond the basic financial statements (profit and loss statement, cash flow statement, general ledger). With the entry-level plan, you can create a chart of accounts, sales tax reports, 1099 vendor reports and accounts receivable aging reports.

The Accounting plan takes reporting to the next level with cash flow forecasts, profit analysis, accounts payable aging reports and stock movements. For comparison, accounts payable and receivable reporting requires the Essentials version of QuickBooks Online ($50 per month). FreshBooks doesn’t even offer basic accounting reports, like the chart of accounts or general ledger, until its second-tier plan ($25 per month), and accounts payable features require the Premium plan ($50 per month).

Inventory tracking

Inventory tracking can be a particularly useful feature of accounting software for product-based businesses. Not all accounting software solutions offer inventory management, however, and some that do offer it only with their top-tier plans.

Sage does not include inventory tracking with the Accounting Start plan, but it is included with the Accounting plan — at $25 per month. QuickBooks Online is well-known for its inventory features, but you must opt for the Plus plan (at a minimum) for $80 per month to access them. Similarly, Zoho Books doesn’t offer inventory tracking until its Professional plan ($50), and the free Wave accounting software doesn’t provide these capabilities at all.

With Sage Accounting, you can add products, organize them into categories and customize their prices. You can track quantities, set stock reorder levels, receive out-of-stock notifications and generate reports on your best-selling products. Moreover, you can also add services or actions that you buy and sell to customers, like software upgrades or computer repairs.

Unlimited users with Sage Accounting plan

If you want to be able to create several user accounts — without paying additional fees — the Sage Accounting plan could be a particularly good option for your business. This plan offers unlimited users, with five user role options. In fact, one of the five options allows you to customize your user’s access levels, designating the permissions you want them to have based on the different sections of your account (sales, expenses, contacts, etc.)

Although Xero and Wave accounting offer unlimited users with their software, other competitors require that you upgrade your plan or pay separate fees for user access. Even with QuickBooks Online Advanced, the highest-level plan ($180 per month), you can only add up to 25 users; Zoho Books Premium ($70 per month) only accommodates up to 10 users. FreshBooks, on the other hand, requires that you pay $10 per user per month for the team member add-on — and doesn’t offer accountant access until the second-tier Plus plan (something that is offered with Sage Accounting Start).

Drawbacks of Sage Accounting

No time tracking

Neither the Accounting Start nor the Accounting plans include any time tracking features. This is particularly unusual considering the Sage website states that the Accounting Start plan is best suited for the self-employed and microbusinesses, some of which benefit from time tracking capabilities, especially if they’re in a service-related industry.

Although some competitors are also lacking in this area — Wave doesn’t offer time tracking, Xero includes it only with the highest-level plan and Zoho requires the third-tier plan ($50 per month) — this is a significant differentiator with alternatives like FreshBooks and QuickBooks.

QuickBooks Online includes mileage tracking with all plans, and although you have to opt for the Essentials plan to access time tracking, you also have the option to purchase QuickBooks Time for additional features, or integrate with one of the many third-party time tracking apps in the marketplace.

FreshBooks is an even better option, offering unlimited time tracking and mileage tracking with all plans.

Outdated interface

Compared to competitors, the Sage Accounting dashboard is reminiscent of an older desktop-based software. The color scheme is monotone, the font is small and although it isn’t particularly difficult to use, it doesn’t have the same approachability as some alternatives.

You’ll find that competitors like Wave, FreshBooks and Zoho, among others, have a more modern design. The dashboards are often colorful, with navigation menus on the side of the screen as opposed to laid out across the top. The fonts are larger and easier to read.

The look and feel of your dashboard is a matter of personal preference, however, so you may find that you prefer the Sage dashboard to other options.

Lack of transparency

The Sage website is not easy to navigate and could be more clear when it comes to product details and information. Sage has many software products, including Sage Accounting, but the website is not always consistent with terminology — for example, using Sage Accounting and Sage Business Cloud Accounting to refer to the same product, and calling one of two Sage Accounting plans “Sage Accounting.”

These inconsistencies can make it difficult to determine which product is being discussed on a particular page, in addition to causing general confusion. Moreover, Sage is relatively brief on the differences between the Accounting Start and Accounting plans on the main part of the website, but if you dig deep into the support site, you can find a thorough list comparing their features.

Overall, you may find more upfront information about Sage Accounting than some of the other Sage software products (like Sage Intacct), and yet, it’s still much simpler to browse the sites of competitors and find exactly what they have to offer with their plan options.

Leave a Comment

fifteen − ten =