Print Quarterly Reports in Sage 50
Accounting is a task which needs both a high level of precision and attention to details. Purely managing the accounts through manual methods are time-consuming, and manual practices can lead to errors as well. Therefore, a business requires a full-fledged accounting software to manage accounts in an efficient manner. Hence, to cater the accounts management need of firms worldwide, Sage keeps developing world-class accounting software.
What are the reports in accounting?
Financial reports are a major part of the accounts function. These statements basically used to analyze the overall financial status of the firm. The 4 main reports are balance sheet, capital statement, cash flow statement and income statement. All these reports together offer comprehensive details about the company’s present, past and even future (prospecting) financial position.
What are the quarterly reports?
The Accounting period, which is also named as Reporting period is the period for which a firm or any business reports the financial situation of the company. Quarterly, as the name suggests, signifies reports for 3 particular months as there is a total of 4 quarters. The business’s fiscal quarters and a yearly accounting period includes the entire fiscal year.
What is the importance of quarterly reports?
The purpose of accounting reports is to offer the right information to the firm so that they can easily analyze the quarter, and make the right decisions to improve if needed. The management of the company, along with the people working in the accounting domain watchfully review all the reports. And, these reports help them to find out not just the financial position of the company, but it also gives an overall view of the finances of the company.
Can we print quarterly reports on Sage 50?
Yes, Sage 50 allows users to print quarterly reports. The software is developed beautifully to support the accounting wings of the business.
Types of reports to be printed on a quarterly basis:
Quarterly Earnings Report and Tax Liability Report are the two key reports that a company needs every quarter.
The Quarterly Earnings report comprises of all the paycheck details of every employee of the company, along with the cumulative sum of a designated quarter of the calendar year. Every payroll field in Sage 50 displays the subtotals. And, all the totals are collected and included on 941, and state quarterly forms.
Run the Tax Liability Report, is basically a combination of both 940 and 941 Federal tax forms. This report is used to compare the calculations done in Sage 50 as opposed to the taxes which were withheld.
Steps to print:
- Go to the Reports and Forms menu in Sage 50.
- Click on Forms, and then select Tax Forms. As soon as you will click on Tax forms, a pop-up window will open up. All you have to do now is Double-click on the Payroll Tax Forms. Now, just select the State form type as well as your state along with highlighting form you wish to print.
- Now, you would have chosen the year along with the quarter. That’s all, just click on okay and follow just follow some of the easy steps.
Priming report is relatively easy in Sage 50, but it is important for the user to understand the process. To get more detailed information about printing the report, feel free to connect with our Sage 50 technical support team. We are available 24 by 7 to help you with anything related to Sage! Our Sage tech support team experts are highly knowledgeable and trained. Contact our Sage customer support team at ☎+1-800-796-0471.