Uncertainty regarding changes to accounting in Sage 50
We are all watching the various .gov posts and blogs available to read regarding the impact to businesses in the UK, which may be caused by Brexit outcomes from January 2021 onwards.
Sage are offering useful articles and prognosis based on what might happen, or might not happen depending on what might be agreed or not agreed at some point or some other point that seems to have little point at all (sorry that’s Brexit fatigue for you.)
So – as ever it is as clear as mud for our customers using older versions of Sage who are not yet on the subscription model of Sage which at least makes meeting changes in compliance required by Sage 50C accounts to meet Brexit requirements, Sage’s problem rather than that of the business owner.
The Qi Approach
We have given our honest and best advice over the last couple of years including the recommendation to purchase the last perpetually (owned) upgrade Version 2018 (V24 series) that would be made available by Sage UK to sticking with that when Sage decided that it WASN’T going to be MTD compatible as we had been originally advised so to use a low cost bridging API to ensure MTD compliance for VAT, instead of moving to the subscription model which let’s face it IS much more expensive than your current outlay for Sage.
There must be a clear business value in moving to the subscription model. Our message around this has always been the same.
We always ask customers to consider:
- Is your version of Sage accounts doing what you need it to?
- Could a more recent version satisfy that need?
- Is your current version of Sage allowing integration with your version of Office 365?
- Are you keeping sufficiently current regarding the version you run to protect you from risk with hardware operating conflicts in the future?
- Are there new features in Sage that are not just a nice to have but a necessity for your business? (A prime example would be Foreign Trader that was available in Version 9 of Financial Controller back in 2002)
This brings us back to the demands that Brexit may or may not have on your version of Sage.
We know that there will likely be changes in Tax codes and Customs demands, but we don’t yet know the detail. Because we do not know the detail, we cannot assess whether older versions of Sage will be fit for purpose and we must consider, suitability for continued use of older versions will vary from business to business.
Our current advice is to sit tight until the end of October and review with Qi at that point.
Action for customers with QiCover for Sage 50 Accounts: Book your QiCover session!
We will spend time with you on the phone or via Teams to review the understanding at that time regarding Brexit impact to businesses thus the suitability of the software & version you are running can reviewed on a case by case basis.
Together we can consider the way forward:
- Maintain status quo – remain on current version – are there any risks in doing this? How long can the status quo be maintained?
- Move to subscription model of Sage 50C Accounts to meet and maintain Brexit compliance changes. (keeping your support with Qi)
- Move to an alternative solution altogether (with Qi) if that solution can streamline your business, improve productivity, and meet and maintain Brexit compliance changes.
Thought for the Day
If you book your QiCover Session for October 2020 then we have sufficient time to implement any necessary changes to protect and support your business by the January 2021 deadline. You can book your session from 1st September 2020. Please get in touch.