Sage Evolution Costing: Understanding the different options

So you run Sage Evolution and  realize that a stock item has 3 different costing methods:

– Weighted Average

– Latest Cost

– Manual Cost

Do you understand how this works? Well I hope this will clear the air a bit

  1. Item costed using Weighted Average

Pic1_Costing

Item starts with 0.00 cost on it. You then GRV 100 units in at 0.10c p/unit,

Pic2_Costing

Item as seen above will now be costed at 0.10c p/unit. you now receive on same unit 50 units of an item at 8.50 p/unit, system will now average the cost out as shown below to 2.90 p/unit

Pic3_Costing

If you now sell some of these units, the system moves the stock out of your system at this new average cost of 2.90 p/unit, so lets assume you sell 10 units at 35.00 p/unit (excl.), the following happens on your general ledger;

Pic4_Costing

So using this way of costing will always average the cost of item and when selling, move it out your system at this average cost method.

2. Item costed using Latest Cost

Again, the item starts off with a 0.00 cost p/unit.  You then GRV 100 units in at 0.10c p/unit. Item cost will now be 0.10cp/unit.

Pic8_CostingPic6_Costing

You then GRV in 50 units at 8.50 p/unit, system will do following to costing;

Pic7_Costing

As the items that costed 0.10c p/unit is now costed at 8.50 p/unit Sage Evolution needs to account for this of course, so at the time of bringing the 50 units, Sage Evolution takes the 100 units previously GRV in and calculates at this stage a 8.40 p/unit difference and does the following on your General Ledger

Pic9_Costing

You now sell 15 units at 0.50c p/unit

Pic10_Costing

In this case Income was 7.50 but costs now 127.50 making a GP of –R120.00

3. Item costed using Manual Costing

Again, item starts off with 0.00 cost. To adjust the cost of an item using manual cost, an adjustment needs to be run. As below, here you adjust cost to 5.00 p/unit

Pic12_Costing

You now receive 100 units of an item at 0.10c p/unit, note the cost below;

Pic14_Costing

Then you buy 50 units at 8.50 p/unit, you will note cost does not change;

Pic15_Costing

You now sell 20 units at 0.50c p/unit the following happens on general ledger;

Pic16_Costing

Using this method, you will notice that unless you do a cost adjustment the item will remain at given cost, irrespective of GRV costs.

So now that you understand the 3 different methods, here is hoping you implement the strategy and methods internally with better ease and understanding.

 

Sage Evolution Financial Year End

Sage Evolution ERP is continually being updated to ensure more user friendly features are made available. Such as Financial Year End. Version 7 contains updates inspired by suggestions from existing users as well as updates in security and functionality.

The latest new feature is that Sage Evolution version 7 caters for unlimited financial periods so running a first year purge is no longer a requirement after five financial years.

Setup of Financial Year End

Financial Year End

Click Image To View

 

Prior to version 7, Sage Evolution retained transaction history for five financial years and a first year purge had to be performed to create the new financial year. Doesn’t the above seem better already?

In Sage Evolution version 7 however, financial years can be added to allow processing without running a purge after 5 years.

On Accounting Periods under Company Details there’s now an option to ‘Add Financial Year’. Once this Option to ‘Add Financial Year’ is selected, a new financial year will be added incrementing the periods from the last financial year.

Should you have any queries please comment below.  I will be happy to do upgrades and training if required. Why not consider an Upgrade now too.

Violet Van Niekerk

 

Sage Evolution CRM Gateway

Mobility is the new rage.  Fancy app-this, exciting smart phone-that but what’s the use if it doesn’t add value to your business, and, why Sage Evolution CRM Gateway?

If your clients could view or collect their own statements or invoices from Sage Evolution via a web service, would that save you or your accounts department time and enhance the clients experience with your business?

If your clients could log track-able communications with your business through Sage Evolution, would that add value to their experience with your company?  If your reps could follow up on client queries from their smart devices while sitting at a client, would that arm them to serve your clients better?

Of course it would!

If you don’t already have these facilities in place, one way or another, your competitors will have the edge.

It’s all about your client’s needs and the many ways to accommodate them. I’m talking about client facing services.

Extending your Sage Evolution CRM functionality to your clients, enhances their experience with your company.  Opening a convenient communication portal between you and your clients puts your business in another league.

The Sage Evolution CRM Gateway extends Sage Evolution CRM onto the web, enabling Evolution Agents and Customers to access this functionality via a web service.

Sage Evolution CRM Agent Zone Dashboard

The Summarised Dashboard in the Agent Zone of Sage Evolution

Clients can view statements, retrieve invoices, log incidents and track the status of their open incidents.  They can also update their information complete with a validation option so you can accept or reject these changes.

The Agent Zone has a Summarised Dashboard, seen here, where clients can log incidents, track open incidents, action incidents, create sales opportunities and more.

Imagine one of your clients’ technical director is out of office and so he receives a notice that there is a problem with their Business Platform and they can’t operate.  He logs onto your Sage Evolution Gateway using his smart device, logs the incident and copies the information he receives on the problem into the file.  Later that day he receives a confirmation from his business that everything is back on track.  Now that’s a VALUE ADD, yes?

Now imagine the same situation without the Sage Evolution Gateway service.

Convenience is key. How are you currently meeting these needs?

Brian 🙂

SAGE Evolution ERP Version 7 – The new feature

The highly anticipated SAGE Evolution ERP version 7. It has, amongst others, a new feature which ex Pastel Partner users have been asking for. I’m going to share the exciting new utilities function right here.

If you’ve ever had that terrifying moment when you realise you’ve entered the incorrect date on an invoice, or the incorrect customer/supplier amongst other things you’ll be pleased to know that correcting these little annoyances is no longer a tedious process of credit notes and re-invoicing. As you’ll see in the image below there are a number of new corrective functions to ease the stress of human error.

Utilities Function – where to find it:

 

Capture

Source Documents:

  • Change Document Customer or Supplier
  • Change Document Address
  • Change Document Project
  • Change Document Sales Rep
  • Change Document Date
  • Change Document Delivery Method
  • Change Document Description
  • Change Document Line Notes
  • Change Document Messages
  • Change Document Numbers
  • Change Document Settlement Terms
  • Change Document Tax Number
  • Change Document User Defined Field

 

Similarly, some basic batch transaction details can be corrected as well as customer and supplier transactions.

 

Capture1

Batches:

  • Change Batch Dates
  • Change Batch Line Description
  • Change Batch Line Project
  • Change Batch Line Reference
  • Change Batch Number

Capture2

Customer Transactions:
  • Change Customer Transaction Date
  • Change Customer Transaction Description
  • Change Customer Transaction Project
  • Change Customer Transaction Reference
  • Change Customer Transaction Reference 2

Capture3

Supplier Transactions:
  • Change Supplier Transaction Date
  • Change Supplier Transaction Description
  • Change Supplier Transaction Project
  • Change Supplier Transaction Reference
  • Change Supplier Transaction Reference 2

Please contact one of our friendly consultants to assis you with your upgrade so that you can take advantage of all this and many other new functions in SAGE Evolution version 7.

Until next time.

Joann

 

 

 

Evolution ERP Error – Failed to create key

Microsoft no longer supports XP

Please be aware of the following error that ALL XP users started getting.

This was due to the fact that Microsoft stopped supporting XP on the 8th April 2014 and it seems there was an update ran by Microsoft.

Unfortunately at this point there is nothing Sage Pastel can do but ask clients to upgrade their OS or maybe reverse the Microsoft update.

ERROR – ‘Failed to create key’

Microsoft Error on Evolution

Watch this space for more information on the matter.

Kirsty Bilson

Sage Evolution V7 – Why you should be excited!

The news is out and everyone’s excited for the latest Sage Evolution Version 7. Sage Pastel Accounting has launched Sage Evolution 7, bringing customers a new version of the enterprise resource planning (ERP) suite that delivers the efficiencies and productivity gains offered by the latest mobile and cloud technologies.

So what is all the fuss about, Sage Pastel Accounting has moved onto a new Delphi XE5 technology platform to ensure that your investment in the software will be safe for many years into the future.

Sage Evolution version 7  has new usability features to help you work faster and more accurately. Sage Evolution has taken the opportunity to give the software a new look and feel by changing the icons to create a more user friendly interface. The icons were selected to represent the different modules more effectively and assist users to easily navigate their way around the software.

                                                           

Some other features and functions in Sage Evolution 7 that will help you enhance productivity and save time include:

  • An Auto Text feature, similar to predictive text in smartphones, which saves time spent typing in common phrases and words.
  • A Global Search feature that makes it fast and easy to find transactions by value, category and date.
  • The Utilities function, which allows you to make quick changes to selected transactional data such as invoices. All changes are recorded in a log file to be viewed and reviewed again.
  • Key Performance Indicators Dashboards that present transactional information in a graphical format.
  • Support for an unlimited number of financial years so that you can keep your financial records for as long as you want to.
  • Visual reports – this amazing new feature is a pivot table allowing you to mix and match information to display the results as you would like to see it visually with full drill down functionality.
  • Sage Pastel Accounting has further tightened the security features of the software in the new version. You can now use more complex passwords or biometric identification (thumb or fingerprints) to protect your accounts.
  • Document Profiles allow you to control which data and information different users in the organisation may access.

Watch this space for release dates and other news on Version 7 release.

Until next time,

Kirsty

Renaming Account Codes

In this blog I’ll be discussing a very useful and functional feature that’s been introduced into Sage Evolution from version 6.82 and newer: Renaming Account Codes.  This small yet extremely handy bit of functionality helps to keep your Debtors and/or Creditors book clean so that processing remains as easy and productive as possible.

Amongst other uses, this new feature is great for reorganising clients and suppliers alphabetically, making the system easier for you to use!

This new feature allows you to rename an account code for a Customer or Supplier that you already have loaded on your system, whether you’ve transacted against that client or not.

Renaming Account Codes, how to do it:

This feature is found under Accounts Receivable/Maintenance/Rename Account and Accounts Payable/Maintenance/Rename Account in the Evolution software.

 

Renaming Account Codes       Renaming Account Codes

The process is simple, select the customer account code you want to change from the drop down list that displays:

Renaming Account Codes

Rename the account code to your preference and click OK to save the change.

Renaming Account Codes

In keeping with the general functionality within the Sage Evolution platform, it’s that simple!

Here’s to keeping it simple 🙂

Brian

Offset Journal for AR to AP

In versions 6.82 and higher of the Sage Evolution platform you will have the ability to enter an offset journal for debtors to creditors in the same AR or AP batch.

The functionality where Users have been allowed to select a creditor, debtor or general ledger account on an Accounts Receivable Batch as well as a Accounts Payable Batch has now been added.  This functionality greatly assists where a company has a Customer that is also a Supplier and needs to use the offset journal to reconcile the two accounts entries.

Offset Journal setup

When creating a new batch you can specify which modules you would like to include in the batch as seen below in the picture.

Offset Journal setup

Once you are happy with the batch properties and settings you can now click OK and begin capturing your batch.

You will see that the modules column allows you to select either AR, AP or GL all in the same batch.

Offset Journal setup

This feature integrates the different modules into your Accounts Payable and Accounts Receivable modules.

The system allows you to rectify incorrect transactions or offset customer and/or supplier transactions using the different modules. Previously you would use (and still can) journal debits and/or credits to process the above mentioned.

For example; if a supplier account balance has to be adjusted against a customer account balance, instead of processing journals, select the Accounts Receivable, Accounts Payable and General Ledger modules on the same batch and the control accounts will be updated automatically.

Have a great day.

Brian

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