Resolve Unable to Save Financial Statements in Sage 50

The world is untouched by technological advancement, and so is the case of the accounting domain. Virtual accounting solution, Sage 50 has revolutionized the ways accounts are handled in various organizations. Regardless of the type and size of the company, Sage 50 is used widely to manage the accounts of a company.

What are Financial Statements?

One of the key parts of Sage 50 or any accounting solution is the financial statements and reports. A financial statement is a key part of a company’s accounting that exhibits the financial functionality of a company. It won’t be wrong if we say that the main feature of a fantastic accounting software like Sage 50 is to create efficient financial statements.

How to Fix Sage 50 Unable to Save a Report?

To save a report, you would need to choose the required document, then you would have to run the report to Excel. After this, you would need to click Excel, or for any different file type click Export. Choose the preferred layout, letter, and report, and click on File. This is almost it, now, you have to click on save to save the report. Complete the Save As window as required > Save.

What if you are unable to save the report?

PDFs

Most of the time, reports are saved as PDFs. You will only get these errors when the Sage PDF driver is not aptly installed. Hence, to solve this issue, you would need to download and install the Sage PDF Driver update.

• On the Sage 50 option, Right-click and go to Properties
• Hit the compatibility Tab
• Check Run this program in compatibility
• In the drop-down, select Windows 8
• That is all! You will not get any error message after this.

Read More: How to Make Inventory Valuation Report in Sage 50

How to Run a Financial Report in Sage 50 Accounting?

A few easy steps are required to run a financial report in Sage 50. All you need to do is, click on the ‘Reports & Forms’ button. Then, you will get a drop-down menu where you will have to select ‘Financial Statements’. As soon as you double-click on ‘Financial Statements’ you will get a list of statements. Just double-click on the statement which you want to see and the report will be opened on the screen in front of you.

List of Common Financial Statements

Balance Sheet

The most common and useful among all the financial statements and reports is the Balance Sheet. People who are well-versed in accounts will understand the true importance of a balance sheet. It contains the list of all assets, and liabilities, as well as the capital of a company, as of a particular period, like the last day of an accounting period or maybe the last day of the year.

Balance Sheet/Budgets

Premium & Quantum Balance Sheet and Budgets compare the actual balances in the business entity’s asset accounts concerning the budgeted balances for those same accounts. This is also done on a particular date like either the last day of the year or financial year or any other specific date.

Cash Flow

Cash flow consists of the modifications in cash over a quantified range of time. This statement is almost similar to the income from operations along with the depreciation, depletion, and some of the other expenses that had no impact on working capital in an accounting period.

G/L Account Summary Report

This type of summary report is used to depict a summary of the initial balances with debit and credit modifications, the net modification in and closing balance for a particular range of accounts.

Apart from these reports, Income/Budget Reports, Income Statements, Statements of Changes, Statements of Income and Retained Earnings, Statements of Retained Earnings, etc. are some of the other financial statements or reports used by the company to manage the accounts. Plus, plenty of financial statements may also be customized as per the requirements of the business entity.