Compare Sage Intacct and Sage 50, understand their features and decide which is better for your team
Sage is a well-known and trusted name in the accounting software industry. In this article, we will compare Sage Intacct and Sage 50, examining their similarities and differences to help you decide the best fit for your company.
Sage Intacct
Sage Intacct is a Cloud-based Financial Management software that has expanded its reach to businesses worldwide.
Sage Intacct includes core accounting, financial reporting, accounts payable and receivable management, cash management, and inventory management. It also supports multiple entities and currencies and integrates with other business applications such as CRM, ERP, and payroll software.
Sage Intacct's cloud-based platform enables users to access their financial data from any location anytime, providing real-time insights into the business's financial performance.
It is well-known for its user-friendly interface and powerful automation capabilities, which aid in automating financial workflows and reducing errors. Sage Intacct is a comprehensive financial management solution that can assist businesses in improving financial visibility, accuracy, and efficiency.
Sage 50
Sage 50 comprises software products catering to accounting and payroll needs. Formerly referred to as "Sage Line 50", it underwent rebranding in the 2000s as Sage 50 and was later renamed Sage 50cloud following the addition of cloud-connected features. With over 400,000 small businesses utilising the software in the UK, it is considered a leading accounting solution in the market.
Sage 50 includes basic accounting, payroll management, inventory management, job costing, and time and billing management, among other features. Invoicing and payment processing, financial reporting, and budgeting tools are also available.
Sage 50 is a desktop application installed on a single computer or accessed remotely through a virtual private network (VPN). Because of its ease of use and user-friendly interface, it is popular among small business owners who do not have an accounting background.
Sage 50 also offers add-ons and integrations with other business applications, such as CRM and payment processing, allowing users to customise the software to their specific needs.
Features: Sage Intacct vs Sage 50
Sage Intacct and Sage 50 are well-known accounting software packages for small and medium-sized businesses. Here are some of the critical distinctions in terms of features and functionality:
Cloud-based vs desktop-based
Sage Intacct is a cloud-based accounting software available via web browsers, iOS, and Android. It is accessible via a web browser on any device with an internet connection, including desktop computers, laptops, tablets, and smartphones.
Sage 50, on the other hand, is a desktop accounting software available for both Windows and Mac. It can be installed locally on a computer and accessed offline or online via the Sage Drive feature.
Scalability
Sage Intacct is a cloud-based accounting software that can easily scale up or down based on the needs of the business. It can handle high volumes of transactions, users, and data, making it appropriate for companies of all sizes, from small startups to large corporations.
Sage 50, on the other hand, is a desktop accounting software installed on a computer locally. While it can handle extensive data and transactions, it is not as scalable as Sage Intacct. Sage 50's performance can be affected by the processing power of the computer on which it is installed, limiting its scalability.
Sage Intacct is built to support multi-entity and multi-currency operations, making it an excellent choice for companies with complex accounting requirements. It also includes advanced features like revenue recognition and project accounting, which are critical for growing businesses.
Sage 50, on the other hand, is better suited to small businesses with simple accounting requirements. While it can manage multiple currencies and inventory, it may lack the advanced features required for complex accounting operations.
Functionality
Sage Intacct is more feature-rich than Sage 50, offering advanced financial reporting, multi-entity support, and automated workflows. Sage 50, on the other hand, offers basic accounting features such as payroll management, inventory management, and job costing.
Sage Intacct addresses several common pain points experienced by Sage 50 users. For example, Sage 50 can become slow when handling a high volume of transactions. At the same time, Sage Intacct's Industry Standard Database is designed to scale with usage, ensuring system speed is not impacted, even with millions of transactions.
In Sage 50, foreign exchange rates must be entered manually, whereas Sage Intacct automates this process by pulling through daily FX rates. Additionally, Sage 50 users may experience issues with remote data access, which can lead to data corruption and require downtime to fix. In contrast, Sage Intacct's web-based platform allows remote access from anywhere with internet availability.
Finally, Sage 50 lacks permission-based roles to control user access. At the same time, Sage Intacct offers this feature, making it a better option for medium to large companies that require control over user permissions.
Customisation
Sage Intacct and Sage 50 differ in their ability to customise the software to meet the specific needs of a business:
Sage Intacct allows for extensive customisation. It has a robust set of APIs and a developer platform that enables businesses to create custom applications and integrations. The platform also allows companies to customise dashboards, reports, and workflows, allowing them to tailor the software to their specific needs.
In comparison to Sage Intacct, Sage 50 has fewer customisation options. While it does allow for some customisation, it is mostly limited to adding custom fields to forms and reports. Sage 50 does not provide a developer platform, and the architecture of the software limits the scope of customisations.
Integration
Sage Intacct and Sage 50 both provide various integration options:
Sage Intacct integrates with various software products, including customer relationship management (CRM), enterprise resource planning (ERP), payroll, and payment processing systems. Sage Intacct also offers an open API, allowing businesses to create custom integrations and applications.
Compared to Sage Intacct, Sage 50 has a more limited set of integrations. It works with Microsoft Office applications such as Excel and Word. For businesses that use the payroll service, it also integrates with Sage Payroll.
Technology
While Sage 50 is considered a legacy platform that receives limited upgrades and features shallow desktop accounting software-level functionality with an on-premise architecture that is becoming outdated, Sage Intacct, on the other hand, was born in the cloud and receives real-time updates. As a result, users of Sage Intacct benefit from an advanced multi-tenant environment that provides access to the latest financial management features.
Pricing
The pricing models for Sage Intacct and Sage 50 differ:
Sage Intacct is a subscription-based product, with pricing varying depending on the size of the business and the specific features and modules required. Depending on the size and complexity of the company, Sage Intacct pricing can range from $400 to $1,500 per month or more.
Sage 50 uses a perpetual licence model, meaning businesses buy a licence to keep the software indefinitely. Sage 50 pricing varies depending on the software version and the number of users. A single-user version of Sage 50 can cost between $299 and $1,499, while a multi-user version can cost between $1,599 and $3,499.
Automation
Businesses that resort to manual data entry with Microsoft Excel spreadsheets to overcome the limitations of Sage 50 are potentially losing their return on investment in accounting software and creating issues that may persist for an extended period. In contrast, Sage Intacct offers streamlined automation features, many of which are powered by AI and machine learning, that alleviate the significant burden on finance teams to perform manual tasks.
Pros and cons
This section looks at the pros and cons of Sage 50 and Sage Intacct, enabling you to understand these two solutions better.
Sage 50
Sage 50 is a popular accounting software solution for small and medium-sized businesses. It has advantages and disadvantages, just like any other software solution. Here are some of the benefits and drawbacks of using Sage 50:
Pros
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Affordable
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Sage 50 is relatively inexpensive compared to some other accounting software solutions, making it an excellent choice for small businesses on a tight budget.
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User-friendly
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Sage 50 is popular among small business owners who do not have an accounting background because of its user-friendly interface and ease of use.
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Basic accounting features
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Sage 50 offers basic accounting features such as accounts payable and receivable, general ledger, and financial reporting, making it a good choice for small businesses with simple accounting requirements.
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Inventory management
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Inventory management tools are included in Sage 50, allowing users to track inventory levels, sales orders, and purchase orders.
Cons
- Limited scalability
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Sage 50 is less scalable than Sage Intacct, making it unsuitable for growing businesses with increasingly complex financial requirements.
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Desktop-based
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Sage 50 is desktop software that can only be installed on one computer, making it less convenient for businesses that require remote access to their financial data.
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Limited integration options
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When compared to other accounting software solutions, Sage 50 has fewer integration options, which can limit its functionality and customisation options.
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Limited customer support
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When technical issues arise, some users have reported difficulty obtaining timely and helpful customer support from Sage 50, which can be frustrating.
Sage Intacct
Sage Intacct is a cloud-based ERP software solution for small and medium-sized businesses with advanced financial management and accounting tools. It has advantages and disadvantages, just like any other software solution. Here are some of the benefits and drawbacks of using Sage Intacct:
Pros
- Scalability
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Sage Intacct is well-known for its scalability, making it ideal for expanding businesses with complex financial requirements. It can support multiple entities and locations, simplifying financial management for multiple business units.
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Cloud-based solution
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Sage Intacct is a cloud-based solution that can be accessed from any location with an internet connection, making it ideal for businesses requiring remote financial data access.
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Advanced functionality
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Sage Intacct includes advanced accounting and financial management features such as multi-currency support, revenue recognition, project accounting, and more.
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Integration
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Sage Intacct provides various integration options with other business applications, making it simple to connect with other software and tailor the solution to specific business requirements.
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A limitless number of users
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Sage Intacct has an almost infinite number of cloud users and leverages a robust database to handle virtually unlimited transactions, all stored securely in the Cloud.
Cons
- Learning curve
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Sage Intacct may have a user-friendly interface, but getting used to it's systems might make it more challenging to get up and running quickly. But, once you've gotten over the not-so-steep learning curve, Sage Intacct becomes your business's ultimate financial partner.
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Technical knowledge
- While Sage Intacct allows for a high degree of customisation, configuring the software to meet specific business needs may necessitate some technical knowledge. However, once it has been set up according to your business needs, you'll be off to the races.
Key takeaways
Sage Intacct is top-of-the-line accounting software that has won numerous awards and has been named Gartner's best in class. Its advantages include multi-currency and multi-legislation support, advanced reporting and dashboard capabilities, and integration with third-party software such as Salesforce.
Sage 50, on the other hand, is a low-cost accounting software that provides simple functionality for small businesses. Its main strength is its seamless integration with other Sage 50 modules like Payroll, HR, and CRM, which allows for streamlined and coordinated business operations.
Overall, Sage Intacct is better suited for businesses of all sizes, thanks to its user-friendly interface, high level of customisability and ability to scale alongside your business. Want to see what Sage Intacct can do for your business? Then have a look first hand.
Book your free Sage Intacct discovery call today