I've been using Instant Accounts succesfully for 18 months. I am now starting a new business as a landlord and want to use Sage Instant Accounts for this also.
I'm self taught but pick things up quickly as I'm in IT.
From what I can see it would be good to setup each property as a department so I can allocate maintenance and rent against each property.
I've only got 3 properties at the moment so I assume I could also setup NC 4000 as Property 1, 4001 as Property 2 and so one, but I'm hopefully going to expand so departments looks like the way to go.
From what I understand I need Instant Accounts "Plus" to get departments.
Am I working in the right direction or am I missing something?
it sounds as though you are on the right lines segregating the properties as departments.
whilst old versions of plus had departments I would get clarification before parting with your hard earned as I can see no mention of the feature in the latest version.
see here : http://shop.sage.co.uk/instantaccountsplusstarter.aspx
To me it sort of makes sense that they would remove that otherwise too many people would stick with instant rather than moving up to 50.
fingers crossed someone who owns the latest version of Instant plus will be along imminently to offer confirmation (or not) of that functionality.
kind regards,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I use the whole array of sage products. 50 plus has the departments but better still has projects..you can create a project for each property and use the project to have a p&l for each individual property.
But of course, the downside to that is that 50 plus costs £865 (£1038 inclusive).
If Instant plus could do the job it's a much less extortionate £200 (£240 inclusive)
Adrina, the 2012 blurb for Instant plus makes no mention of projects. If you have access to that could you confirm whether that functionality still exist in the 2012 Instant plus please.
many thanks,
Shaun.
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Thanks, just logged onto Sage Instant Accounts Plus TestDrive, I can see departments are there, so this is a good start, and yes prefer the price tag of Instant Accounts, Sage 50 is well over budget.
So can you recommend anything else I should look at doing, I feel like if you know what question to ask you will get the right answer, but I'm not sure what question to ask if you get me!
Thanks, sounds like I'm on right track. Just to confirm, so you would put all rent in say NC 4000, but allocate to department so you can run P&L against department. No need to put rent in different NC ?
Yes you put all the rent in say 4000 and allocate to dept 1 (property1) dept2 (property 2). Not sure whether instant plus actually allows for P&L by department only 50 does that, but you can run department reports either summary (which shows the totals of each NC) or detailed (which shows each transaction for each nc) and work your P&L from that.
