Available in Sage 50 Premium Accounting and higher.
Industry-Specific Terminology
When you create a company, Sage 50 Accounting sets the terms for customers, sales, vendors, purchases, quotes, orders, invoices, receipts, and payments based on your company's industry type. If the default terms are not suitable to your business, you can change them by selecting a custom term.
Once you change your terminology, Sage 50 Accounting immediately starts using it throughout the program, including module names in the Settings window. Areas where custom terms are not used include some inventory reports in which changing the terminology would not make sense and in the online Help, which uses only the default terminology.
Quotes, Orders, and Invoices
If you change what you call sales or purchases in your company, then Sage 50 Accounting may use a one- or two-word term for quotes, orders, or invoices, depending on whether custom terms have been selected for these transactions. In a retail company for example, if your term for sales is Revenues, then your sales invoices will be called Revenue Invoices. If you also change your term for invoices to Charges, then your sales invoices will be called Charges.
Note: Only the terms Quote, Order, and Invoice can be used for both sales and purchases. All other terms for these transactions cannot be the same in both sales and purchases.
Contractor and Construction Industry
Sage 50 Accounting sets the following default terms for companies in the Contractor and Construction industry:
Customers & Sales
| Default term for: | Set to: |
|---|---|
| Customers | Customers |
| Sales | Sales |
| Quotes | Estimates |
| Orders | Contracts |
| Invoices | Bills |
| Receipts | Receipts |
Vendors & Purchases
| Default term for: | Set to: |
|---|---|
| Vendors | Suppliers |
| Purchases | Purchases |
| Quotes | Quotes |
| Orders | Orders |
| Invoices | Invoices |
| Payments | Payments |