Simply Accounting Tutorial

by Jeff Grundy; Updated September 26, 2017

Simply Accounting, made by Sage Software, is a software application that allows small businesses to manage finances and payroll transactions without any special knowledge of accounting or experience with bookkeeping software. Simply Accounting allows small business owners to keep track of their inventory, manage customers and employees, and track sales and receivables. Additionally, Simply Accounting can help small business owners create budgets and reports that help make filing taxes easier. Simply Accounting’s intuitive interface makes configuring and using the application a task that most entrepreneurs master in a few hours.

Installation

Step 1

Place the Simply Accounting installation CD into the optical drive of your computer. Wait for the installation wizard utility to launch.

Step 2

Follow the prompts on the screen to start installing Simply Accounting. Enter the product license key when prompted. The Simply Accounting product license key is on the back CD jewel case or sleeve cover.

Step 3

Click the “Full Installation” option when presented with install options. Click the “Next” button. On the next screen, click “Typical” and then “Next.” Wait while the installation wizard installs Simply Accounting on your computer. Reboot your computer when prompted to do so.

Create a New Company

Step 1

Double-click the "Sage Simply Accounting" desktop icon to launch the program. Upon starting Simply Accounting for the first time, the application displays an introduction and welcome screen. On the welcome screen, click “Create a New Company” and then “OK.”

Step 2

Type your company name, address, telephone and fax number, and business email address in the “Company Information” area. Click and select a set of standard accounts for your company. Choose a chart of accounts for the company type in the list that is the most similar to your business. Click the “Next” button.

Step 3

Click “Browse” on the next screen to select a folder on your hard drive to store the new Simply Accounting company and transaction data. Click the “OK” button to continue.

Step 4

Click “Company” in the menu panel. After the “Company Dashboard” appears, click the “Settings” link.

Step 5

Click “Sales Taxes.” Type your local and state sales tax rates as decimals in the fields if you charge sales tax to customers.

Step 6

Click the “Payroll” link on the “Company Dashboard.” Enter the names of your employees and their positions. Also, enter each employee’s pay rate and pay schedule.

Step 7

Click “Customers and Sales > Customers” on the menu bar. Enter the name, address and account information for customers that have outstanding balances with your business. Enter the amount the customer owes your business in the “Amount Due” or “Balance Due” field.

Step 8

Click “Vendors and Purchases > Vendors” on the Simply Accounting menu bar. Enter contact and address information for vendors that supply your company with the inventory, products or services needed to run your business. If your business has an outstanding balance with a vendor or supplier, enter the amount in the “Balance Due” field.

Step 9

Click “Inventory and Services > Inventory” on the main menu bar. Enter data about the products and services you sell to clients or customers. Assign a unique ID number and descriptive name for each product or service, along with the price to charge to customers. For inventory items you keep in stock, enter the number you have on hand. For labor or services your business provides, enter information under the “Services” tab.

Step 10

Click “Customers and Sales > Sales” on the menu bar to create a new invoice or sales receipt when selling an item or service to a customer. Enter customer and product information in the “Invoice” or “Sales” screen. Click “File > Print” on the menu bar to print an invoice or sales receipt for the customer.

About the Author

Jeff Grundy has been writing computer-related articles and tutorials since 1995. Since that time, Grundy has written many guides to using various applications that are published on numerous how-to and tutorial sites. Born and raised in South Georgia, Grundy holds a Master of Science degree in mathematics from the Georgia Institute of Technology.