Sage Summit

Would you like to expand your business? Do you know how to prospect new clients, create marketing messages, and maintain a web presence that works to capture leads?

At Sage Summit we have just the type of sessions to help you grow your business like:

  • What’s Twitter? Getting Started and the Basics of Twitter
  • Best Practices of High-Performing Accounting, Bookkeeping, and Consulting Firms
  • Marketing Is Dead—How You Can Restore Your Marketing Efforts to Reach Your Prospects
  • Public Relations: It’s up to You!
  • Effective Ways to Benchmarking Your Website KPIs
  • Sage CRM: The Five Biggest Business Challenges and How Sage CRM Can Solve Them

There’s something for everyone. Browse through the Sage Accountants Network Recommended Session Guide to easily identify sessions that will help you maximum your time at Sage Summit. Register Now

Calling all accountants!

We have an opportunity for several accountants who would like to gain some visibility and thought leadership exposure to a broad base of business owners. You have to love giving advice and have a healthy interest in blogging or social media!

Sage is launching a new online community platform in June 2013 called “Sage City”. (Yes, SAN has its own section and its own gated forums!) You’ll hear more about this initiative as we get closer to launch date, however we have an opportunity for a few SAN members to become bloggers in the Accounting group and we need to get started right away.

What’s the Accounting group? Basically it’s where users from all kinds of Sage products will come to ask accounting related questions and to read accounting tips from the experts. The questions won’t relate specifically to a software but will have more to do with accounting principles or policy changes in general.

If you’re interested or would like to know more details, please email

And stay tuned – more general information on the launch and the community are coming soon!

Complimentary Webcast

An Invitation for You to Share With Your Clients

Your friends at Sage 50 Accounting—Canadian Edition have a goal: To provide small Canadian businesses with the best in software and advice. If you have clients who would benefit from this webcast—or potential clients who would benefit from information regarding cash flow, feel free to invite them to attend this webcast.

Cash Flow: The Lifeblood of Every Small Business

Make Payments, Make Investments: This Webcast Helps Improve Cash Flow!

Overview: Cash Flow teaches you what cash flow is and offers guidance for analyzing the two most important aspects of it, namely improving “receivables” and managing “payables.” Learn how automation helps with follow-through and efficiency!

Please join us on Wednesday June 19, 2013, at 11 a.m. PT

We look forward to seeing you there—and tell a friend or two!

Need an Extra Reason to Attend Sage Summit?

Presentation Skills Workshop/Certification

Are you responsible for training colleagues or customers? Do you conduct presentations to peers or management? Attend this two-day workshop to enhance your presentation skills. At Sage Summit you will learn how to deliver effectively in various environments and what taboos to avoid that most presenters are unaware they do. Sage offers a two-day in-person Presentation Skills Workshop to assist you in becoming the best presenter possible. The course is very interactive, enabling you to build confidence whenever and wherever you are presenting. All participants will need to provide their own laptops loaded with their product software.

This course is one of the requirements for anyone wishing to be classified as a Sage Certified Trainer.

Dates: July 24-25, 2013

Time: 8:30 a.m.-5 p.m. ET

Cost: $300 (50% OFF regular price)

Register Today!

Sage 50 Accounting – Explanation of Variance

Variance shows up when you allow inventory levels to go below zero. It is used to track the difference between the average cost and the actual cost of an inventory. Variance is not harmful. It indicates that Sage 50 is accurately posting cost information in the absence of purchase cost information.

The following example shows how variance is calculated.

Transaction 1:   Suppose the current item quantity is 10 and the value is $50. The cost of each item is $5 ($50/10).

Transaction 2:   On the next day, 30 items are sold. Even though there are only 10 items on hand, Sage 50 calculates the cost for the 30 items using the existing cost information of $5 per item. The total cost amount is $150 ($5*30).

Transaction 3:   On the following day, 40 items are purchased at $12 per unit. For the 20 units of the item that were previously sold, Sage 50 will adjust cost to $7 per unit. This is due to the fact that the cost was already calculated at $5 per unit for 20 units of the item that were sold previously.

(new cost – $12) – (old cost -$5) = $7 variance per item

The total variance is then calculated by $7 * 20 = $140

This is the general ledger report of the inventory asset account





Transaction 1


50 Dr

Transaction 2


100 Cr

Transaction 3


240 Dr

The $340 debit in transaction 3 is calculated by:

(Total cost in transaction 3 – 40*$12 = $480) – (variance – $140) = $340

After Transaction 3, the item quantity is 20 and the value is $240. Therefore, the cost of each item is $12. $140 will be debited to the variance expense account. This is how variance properly reflects the cost of the inventory.

Important Sage 50 Accounting Product Update

A Sage 50 Accounting 2013 Product Update will be available for Sage Accountants Network members on June 18, 2013 and for your clients on June 20, 2013. The Product Update includes the federal and provincial payroll tax changes that take effect July 1, 2013. Only customers who are running Sage 50 Accounting 2013 and who are valid Sage Business Care Payroll, Gold or Platinum subscribers as of June 20, 2013 will successfully receive the payroll tax updates.  Any business still running Sage Simply Accounting 2012 will need to install Sage 50 Accounting 2013 prior to July 1, 2013.

We strongly encourage all businesses running Sage 50 Accounting 2013 to download and install the Product Update as it also includes product enhancements. In particular, we have improved the process in which you will receive and install future.


Sage Summit

What’s at Sage Summit for you?  Well, it’s the largest education and networking event for Sage customers and partners. Attending can help you become more productive, push the envelope, hear what’s working for others, and bring a new energy to your workplace.

Don’t just take our word for it. Listen to one of our Sage Accountants Network members, Jennifer Bauldic of Jetstream Administration, share her views about Sage Summit.

There’s something for everyone. Browse through the Sage Accountants Network Recommended Session Guide to easily identify sessions that will help you maximum your time at Sage Summit.

You’ll also find sessions that can help you:

• Focus your time on developing speaking skills and establish better way of communicating or sharing information.

• Learn how connected services, going paperless, and social media help your business.

• Think outside of the box a little or a lot.

• Learn how to grow your lead generation programs and expand your client base.

• Become more familiar with core functionality of Sage 50 Accounting.

• Network with your peers and meet with the Sage Accountants Network team.

Register today!


Get every new post delivered to your Inbox.

Join 553 other followers

%d bloggers like this: