Managing finances is a crucial part of running a business. When deploying comprehensive and versatile accounting software, Sage 50 offers tailored solutions to meet the needs of small and medium-sized enterprises. It has three main versions: Pro, Premium, and Quantum.
It is essential for users to understand what features and capabilities each version offers and understand the differences to choose the right one for business-specific needs.
In this blog, we will compare the features, benefits, and limitations of Sage 50 Pro, Premium, and Quantum Accounting models to help you make an informed decision.
Sage 50 Pro Overview
Sage 50 Pro is the basic version of the Sage 50 suite. It is ideal for small businesses that require basic features for their accounting practices.
This version is suitable for companies with one user and provides an affordable accounting solution, as it won’t require many overhead costs compared to other Sage 50 editions
Its key features include:
- General Ledger
- Accounts Payable and Receivable
- Invoicing
- Bank Reconciliation
- Inventory Management
It is the most affordable version of Sage 50; It is easy to set up and suitable for small businesses that need only essential accounting functions. Its price starts at $58.92 per month per user.
In addition to Sage 50’s robust accounting capabilities, it’s worth noting how other platforms, such as Shopify offer features like integrated e-commerce solutions that can complement your accounting needs.
Sage 50 Premium Overview
Sage 50 Premium is designed for medium-sized businesses that require more advanced accounting features than the Pro version.
This version suits up to 5 users and provides more inventory management capabilities and advanced reporting tools for customized financial reports.
Apart from the features offered by the Pro version, it has additional features like:
- Advanced Inventory Management
- Job Costing
- Multiple User Access
- Departmental Accounting
- Time and Expense Tracking
The Premium version costs approximately $101.92 per month per user. Its advanced features enable users to track expenses and profitability and facilitate collaboration among team members, making it more expensive than the Pro version.
Also Read: Sage 50 Hosted on the Cloud vs. Sage 50c
Sage 50 Quantum Overview
Sage 50 Quantum is the top-tier version of Sage 50 suite. It offers the most comprehensive set of features. It is designed for large businesses or those with advanced accounting functions.
It supports up to 40 users, making collaboration among bigger teams and multiple departments easier.
It has all the features of the Pro and Premium version and additional features like:
- Advanced User Management
- Role-Based Security Settings
- Industry Specific Solutions
- Workflow Automation
Quantum is the most expensive model since it has more features and capabilities than the Pro and Premium version. It is priced at approximately $172 per month per user.
What Are The Similarities Between Sage 50 Pro, Premium, and Quantum Accounting?
All three versions offer features like tracking and filing GST/HST, storing multiple financial records, processing payroll remittances, creating and tracking purchase invoices, and integrating Microsoft Word and Excel.
All versions allow more than 1 user at a time for businesses with more than one user, company, or location. You can gain insights from the performance dashboard for real-time information.
Features and Functionalities Comparison: Sage 50 Pro vs. Premium vs. Quantum Accounting
Advanced Inventory Management
Track and manage your inventory and gain accurate information about the present status of your inventory. An automated system calculates the quantity and true value of your inventory after every sale you make.
This helps you save time, effort, and reduce errors often caused by manually updating journal entries.
The Premium and Quantum versions offer this feature. The Premium version is a good choice if you only want to utilize this feature and don’t want the additional ones offered by the Quantum version.
Creation and Sending of Bills and Invoices
Generate professional invoices and bills quickly and efficiently. You can customize templates, automate recurring invoices, and email them directly to customers, streamlining the billing process and improving cash flow management.
This feature is available in all the versions of Sage 50. If you do not want other complex features offered by the higher versions, then Sage 50 Pro will be a good option.
Departmental Accounting
Allows businesses to segment their financial data by departments or cost centers. This enables more detailed tracking and analysis of financial performance across different areas of the organization.
The Premium and Quantum versions offer this feature. However, the Pro version lacks it.
Financial Reporting
Financial reporting in Sage Business Cloud Accounting provides real-time, customizable, and automated financial reports, delivering comprehensive insights and ensuring compliance and accuracy, all through a user-friendly interface.
All three versions can create standard financial reports; however, the Premium and Quantum versions offer advanced reporting capabilities.
Also Read: How To Access Sage 50 Remotely?
Comparison Table
| Feature | Sage 50 Pro | Sage 50 Premium | Sage 50 Quantum |
|---|---|---|---|
| Users | 1 User | 2-4 Users | 5-40 Users |
| Charge for services using employee Time Slips | No | Yes | Yes |
| Print cheques | Yes | Yes | Yes |
| Simplify reordering items from vendors | No | No | Yes |
| Prepare payroll cheques with automatic tax calculations | Available | Available | Included |
| Process cheques as a batch | Available | Available | Included |
| Prepare ROE slips for print or online filing | Available | Available | Included |
| Keep accurate records with the full-time audit trail | Up to 7 | Up to 100 | Up to 100 |
| Process Payroll Remittances | Yes | Yes | Yes |
| Reconcile bank statements to accounting data | No | Yes | Yes |
| Use Departmental Accounting | No | Yes | Yes |
| Create payroll expense groups | No | Yes | Yes |
| Create and assign role-based security settings | No | No | Yes |
| Access and customize built-in reports | 111 | 156 | 167 |
| Consolidate financials for multiple companies | No | Yes | Yes |
| Manage inventory | Basic | Advanced | Advanced Plus |
| Generate packing slips | No | Yes | Yes |
| Track items by serial number | No | No | Yes |
| Track and report on the project | Yes | Yes | Yes |
| Budget projects by fiscal year | 1 Year | 1 Year | Up to 5 Years |
| Create a detailed project budget | By period | By account, by period | By account, by period |
| Assign projects and invoices | No | No | Yes |
| Track salaried employee and contractor hours | No | No | Yes |
Also Read: Sage 50 Cloud Hosting Guide for Beginners
Conclusion
Sage 50 has various accounting solutions catering to different business needs. From a small business owner looking for essential accounting tools, a growing business needing advanced features, or a medium-sized enterprise requiring comprehensive solutions, there is a version that fits everyone’s needs.
Evaluate your business requirements, budget, and growth plans to make an informed decision.
To leverage added features, many businesses have started hosting Sage 50 with Ace Cloud, which brings promising results for businesses willing to unleash the full potential of any of the Sage 50 versions.
Anywhere, anytime access, cross-device compatibility, automated backups, data security, etc., to name a few.
FAQs
Can I access Sage 50 remotely?
Sage 50 desktop doesn’t offer a remote access feature. However, you can opt for cloud hosting services from third-party providers such as Ace Cloud to access Sage 50 remotely and enhance collaboration and productivity among your team members.
How many user licenses are included with Sage 50 Premium, and what is the maximum number of users it can support?
Each Sage 50 Premium Accounting box includes two user licenses. Up to four users can be purchased. Sage 50 Quantum Accounting may be purchased in increments of five for Up to forty users. Each user must have a license to use the product.
What are the licensing options for Sage 50?
Sage 50 offers perpetual and subscription-based licenses, giving businesses flexibility in purchasing and using the software.
Can Sage 50 software integrate with other business applications?
Sage 50 software can integrate with various third-party applications, including CRM, payroll, and payment processing systems, to streamline business operations.
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