What’s New in Sage My Business 2.1.2 Australiaezines.pastel.co.za/HTMLs/August 2013/SMB_WhatsNew/Sage My B… · Now you can use My Business Online as your personal online filing

What’s New in Sage My Business 2.1.2 Australia

Release Date: 23 August 2013

Summary of Changes

Automatic Bank Feeds Accountants Edition My Profile Preferences My Business Online Document Store: Company Notes and Attachments and Attachments on

Transactions, Masterfile Notes and Items Splits on Banks and Credit Cards Budgets Item Codes Customer and Supplier Adjustments: Quick Entry Grid Item Adjustments: Quick Entry Grid Document options: create invoice from quote, copy documents etc. Opening Balances Wizard Delivery Notes Sales Reps per document Document previews Email signatures per document

Lots more …

Welcome to the new look of My Business Online! My Business Online has had a facelift! We look forward to receiving your feedback so that we can continue making My Business Online even more user friendly.

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It’s easier than ever to do your banking with Automatic Bank Feeds Starting today, you can set up automatic bank feeds which allow you to automatically import bank statements into your My Business Online bank or credit card accounts from banks and other financial institutions. This saves you having to manually import your bank statements yourself.

Each day when you login to your company, any new transactions available in your bank statement will be automatically refreshed and then available for review in the My Business Online Bank Statements screen. Use the new Banks and Credit Cards widget on the Dashboard to see the status of each account. Find out more about this widget below.

You will save even more time by mapping transactions where Sage My Business will automatically allocate your transactions to the correct accounts each time your automatic bank statement feeds are refreshed. Managing your bank accounts could not be easier!

Learn more about automatic bank feeds

*Beta* This feature has been released in Beta. While a great deal of testing has been done and we are confident that this feature works well, we welcome any suggestions and feedback while it is in Beta! Please email [email protected].

New Banks and Credit Cards Widget

Use the new Banks and Credit Cards widget on the Dashboard to give you an overview of all your banks, credit cards and their balances. There are handy options to Review Transactions or set up Automatic Bank Feeds.

Banks and Credit Cards: Splitting Lines into Multiple Accounts

Split transaction lines when processing to your bank or credit card, or after importing your bank statements!

Why use splits? Sometimes you would like to allocate a single transaction to more than one account. For example, you may want to split a rates and taxes payment between rates and water accounts.

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Once all of your split lines total to the same value as the original line, you can save the split. My Business Online will then display the original transaction as well as the splits for easy identification.

Refreshing your dates when showing previous transactions on Banks and Credit Cards

Are you frustrated by waiting for the Banks and Credit Cards screen to load and refresh when you choose a date range? Now you can choose Show Previous Transactions, set your Date Range and simply click the Refresh button for My Business Online to load and refresh your grid. One refresh only!

Budgets

Create budgets for comparison to actual income and expenditure throughout the year! Budgets can be created from scratch or based on your previous year’s data. Budget values are easy to enter and a handy Copy Budget Values option allows you easily and quickly copy values across, with the option of adjusting and rounding those values each month, every 2 months, every quarter or every 6 months.

View your budget using the Budget Report and track your budget performance against your actuals using the Profit and Loss Report with budget comparisons. You have the option to compare with one of the multiple budgets you can create, as well as an option to include budget variances.


Add attachments using the My Business Online Document Store

Now you can attach files to Bank and Credit Card Transactions and Journals! For example, keep a record of any purchase by taking a picture of, or scanning, proof of deliveries or invoices. These documents can then be attached to the payment transaction.

Notes on customers, suppliers, items, banks and credit cards, accounts and assets can also include attachments, helping you keep track of important documents. Also attach pictures to your Items for easy identification.

Add Company Notes and Attachments

Now you can use My Business Online as your personal online filing cabinet, with all those vital documents that you can never find stored in one secure easy to access location. Your company documents will be safe and secure, and you can access them from anywhere in the world.

To access this feature, from the Company menu, choose Company Notes and Attachments.

Attachments can be electronic documents or printed documents that have been scanned into electronic form. Categorize these attachments using the default categories, or customize the categories to suit your needs. You can store bank statements, loan agreements, your company incorporation documents, correspondence and much more!

Keep forgetting your bookkeepers’ birthday each year? Need a reminder to increase product prices? Use the Notes tab to keep these reminders. Set due dates to have your reminders appear in your To Do List on the Dashboard.

Item Codes

You are now required to add an Item Code when adding new Items. You will use this Item Code to find and choose an Item from the Item drop down list when you are doing Quotations and Invoices, or when purchasing Items. Item reports will be ordered by Item Code followed by the Description and you will be able to easily search for Items - by code or description - with the new Search for Item option on the Item drop down lists.



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Already using Items? If you have already added Items, when you login for the first time, you will be required to enter Item Codes for all your existing Items. You have two options:

1. Add your own Item Codes manually, or 2. My Business Online can create the codes for you - in which case the first six characters of your Item

Description will be used, followed by an incremental number. You will be able to renumber your Item Codes later by choosing the Renumber Item Codes option on the Items Special menu.

Displaying Inactive Items

Marking old Items as inactive helps you keep your reporting neat and uncluttered. All reports already have an option to print Active, Inactive or Both. Now you have an option to include or exclude inactive Items while processing.

Use the new option under your Company Settings to choose whether to display inactive Items or not on Item lists when you are doing Quotations and Invoices, or when purchasing Items. This option can be found on the Document Setup and Logos tab.

Controlling User Access

You can now add user access permissions for your invited users to allow them to Control User Access. This is particularly useful when inviting your accountant or bookkeeper as they may want to change access levels to allow or disallow editing of transactions. Note: that by default, this option is not available for your invited users and you will need to allow them access to this.

Company Settings are now available by default to invited users. Note: if you don’t want your invited users to have access to you Company Settings, you will need to turn this option off under Control User Access.

By popular demand: Journals include Debits and Credits

When you process journal entries, the Increase or Decrease column has been changed to Debit or Credit. You now select the account you wish to Debit or Credit and choose the By Affecting Account to process the entry.

Support, please note:

Activity screens on the accounts will still show Increases and Decreases.

Statements

The statement run screen has been changed into a wizard with easy-to-understand steps to guide you through doing a statement run.

Two new options have been added to statements. Choose Show Balance Brought Forward to consolidate all unallocated transactions prior to the date range you have selected, into one balance brought forward line.


Excluding fully allocated invoices will only display those transactions that are unpaid.

Options have been added to the Statement report and Statement Run to exclude any customer, dependant on their balance. You have the option to exclude customers with zero balances, negative balances or you can specify to exclude customers that have a balance less than a certain amount.

The Statement Run default options set are to exclude customers with zero and negative balances.

Delivery Notes

Print delivery notes directly from the invoice screen. You can customize the layout of you delivery notes by using the new layout available in the My Business Online Report Designer.

Preview Documents before Printing

Preview your quotes, invoices and credit notes before printing or emailing them to your customers by choosing the Print Preview option available on documents and all document lists.

Changes to My Profile: User Preferences

My Account has been replaced with My Profile. Set your own preference with regards to the number of rows that should be displayed in grids as well as your default Dashboard. We have added this feature because certain monitor sizes allow you to see more on screen.

Enhanced Quick Views: Get information quickly and easily, from any screen!

The Customer, Supplier and Item Quick View screens have been enhanced to include more information. These quick views are accessible from all processing screens, grids and an easy to access Quick View menu.



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Email or print customer invoices quickly and easily from the Invoices tab on the Customer masterfile or Customer Quick View with the option to include Printed Invoices.

Customer and Supplier Adjustments: Quick Entry Grid

Previously, Customer and Supplier Adjustments had to be processed one at a time. Now, a Quick Entry Grid option is available under Customer and Supplier Adjustments. This option will give you access to a grid view that allows more than one adjustment to be entered at a time for faster data entry.

Document Options

Quick Tasks have been added that allow you to create, for example, a credit note from an invoice, record a payment against an invoice, copy an invoice, create an invoice or a recurring invoice directly from a quote and much more.

Customer Tax Invoices can now be edited after you have processed and printed them. Edit a Tax Invoice to make small changes to the invoice details – such as adding the VAT number, changing the delivery address or any minor modifications. The Edit Invoice button is available when viewing an existing Tax Invoice. A new Send Invoice button is also available, allowing you to easily print or email the Tax Invoice. The Invoice Options button can be used to view the Invoice History (this is like tracking changes you may have made to the invoice).

Why Tax Invoices and Copy Tax Invoices?


When you print a Tax Invoice, a printed flag is set to ensure that you only print one copy of the original Tax Invoice. If you print a Tax Invoice again, the Tax Invoice will be printed as a Copy Tax Invoice. This is in line with the guidelines set out by many revenue services worldwide.

Before you edit an invoice, My Business Online will warn you that you are editing a printed Tax Invoice which means you will be re-issuing an original invoice. Only continue if you are happy to do this.

When should you edit a Tax Invoice? Only edit a Tax Invoice to make small modifications to the Tax Invoice that don’t affect the original consideration, in other words, the amount of the Tax Invoice. These modifications include adding your customer’s GST number, changing address details and other similar changes.

When shouldn’t you edit a Tax Invoice? If the value of the Tax Invoice changes you should (but don’t have to) issue a Credit Note and issue a new Tax Invoice.

What documents can you edit?

You can edit Customer Quotations and Supplier Purchase Orders whenever you want to. Customer Tax Invoices can be edited before or after printing. Customer Credit Notes can only be edited if you have not printed the Credit Note. Supplier Invoices and Supplier Returns cannot be edited. Why? My Business Online tracks Item average cost on all transactions, specifically Supplier transactions which update the Item average cost. In order to ensure that the Item average cost is correct, when a Supplier Invoice or Supplier Return is processed, the Item average cost is updated. When the document is edited, the average cost is not updated as this will result in an incorrect average cost on your Item.

Customer Returns have been renamed to Credit Notes

My Business Online now refers to Customer Returns as Customer Credit Notes.

Selling Price Updates and Recurring Invoices

Update your selling prices quickly and easily from the Item Adjustments option under the Item Transactions menu. If you use Recurring Invoices, be sure to choose the option to Update Selling Prices on Recurring Invoices to ensure that your selling prices are correct.

Frustrated when you lose work by accidentally moving from the page?

If you have ever pressed the Backspace key by accident or navigated to another page while working on a processing screen after entering a large amount of data, you know the frustration with losing work! My Business Online will now stop you from navigating from a processing screen (whether accidentally or not) and first warn you that you have not saved your changes.

Reports

View opening balances, closing balances and cumulative values on your Account Transactions and Bank Transactions reports. The Profit and Loss report now includes two options to compare to Budget and Show Budget Variances, making it easy to track your budget performance against your actuals!



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Exporting to Excel using the new CSV Option: Reports can now be exported using the new CSV option for easy and painless manipulation in Excel. Choose this option to do sorting, calculations and any other Excel data manipulation without the additional rows and columns in the formatted Excel export.

Email Signatures

Create and manage your Email Signatures for Quotes, Invoices, Credit Notes, Recurring Invoices and Statement Runs under Company Settings. Email Signatures can be selected at the time of emailing making it easy for you to select a different Email Signature per My Business Online user, for specific customers or special messages to go out to your customers with each email.

Item Adjustments: Quick Entry Grid

Previously, Item Adjustments for cost or quantities had to be processed one at a time. Now, a Quick Entry Grid option is available under the Item Adjustments wizard. This option will give you access to a grid view that allows more than one adjustment to be entered at a time for faster data entry.

A handy Import option is also available to import item adjustments.

Sales Reps

Add your sales reps to My Business Online and start analysing your sales by sales person.

Set up your sales reps under Customers Lists and choose which sales person should be linked to which quote, invoice or credit note when processing. A report analysing your sales by sales rep is available on the Reports menu.

Opening Balances for New Companies

When you create a new company and you need to record opening balances from your previous accounting system, the new Opening Balances Wizard is the right tool for you. Displayed in a trial balance format, this wizard will allow you to easily capture each account opening balance and at the same time capture or import your customers, suppliers and items with their respective opening balances.

Opening balances can be changed if something was not set up correctly when you initially captured your opening balances. Select Opening Balances from the Company menu to make changes but be aware that this will have an impact on balances you have already entered and any reports you may have already run.

Favourites Menu Icon

Do you use a few menu options often and wish you could get to them quicker? The new Favourites menu gives you access to your most-used pages in My Business Online, with the option to manage your favourites, re-arrange your Favourite menu options or even add the current page as a Favourite.


Item User Defined Fields on Report Designer

Add Item User Defined Fields on the Report Designer to include additional information stored on your items under user defined fields on your quotes, invoices and credit notes.

Tax Report

The Tax Report now includes an option to offset credits on sales and purchases.

Note: Credit notes issued may not be set off against the sales made to the same customer unless the credit note concerned is issued in the same tax period in which the supply has taken place. The same applies to Supplier returns. If you are unsure about using this option, please speak to your accountant.

My Business Online Accountants Edition!

The Accountants Edition has been introduced for Accountants and Bookkeepers who use, and who have

many clients using My Business Online. As an accountant or bookkeeper, you get a "bird's eye view" of your

clients activity as well as your daily tasks on the new My Tasks and My Calendar tabs.

Accountants and Bookkeepers that are registered for the My Business Online Qualified Adviser program have access to the Accountants Edition that allows searching on company names, contact information for each company as well as displaying pertinent information such as the financial year end date and the next VAT submission date. Also included on this console is a reminder of any new notes, due and overdue notes. These reminders include notes that are sent by your clients directly from within My Business Online.

My Tasks and My Calendar has been released in Beta. While a great deal of testing has been done and we are confident that this feature works well, we welcome any suggestions and feedback while it is in Beta! Please email [email protected].

My Tasks and My Calendar are designed to help you keep track of the various accounting or bookkeeping tasks that you do for each of your clients on My Business Online. You can create a single task or one that repeats on a regular schedule, in other words, a recurring task. Use the My Tasks tab to manage your tasks, change the task status or login to your client’s data.

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My Calendar is a useful tool to get an overview of the tasks and notes you need to work on each day. The Monthly view and Daily view will display all tasks and notes that are overdue, due today as well as those tasks that are scheduled to start.

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General enquiries: [email protected]

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