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Sage is a comprehensive accounting and financial management software that helps businesses manage the finances and day-to-day operations with ease.

Given that Sage stores your business and financial data, it is important to keep your account secure.

Your Sage password helps to verify your identity so that only authorized persons can access the company files connected to your account.

If you find that you have forgotten the password for your Sage account, this blog will give you a general overview of the password recovery process.

Even if you have trouble resetting your password you should consider using the password recovery tool to speed up the process.

You can call the sage support and speak to a trained software expert to find out how you can install and use the Sage Password Recovery Tool to reset the account password.

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In 2020, it is sadly a very familiar sight as many retail shops and businesses are being forced to close due to the impact of COVID-19.

With many people continuing to work from home, the UK’s high streets are ‘hanging by a thread’, according to Helen Dickinson from the British Retail Consortium (BRC).

But what exactly is a company’s financial situation if they are announcing a going out of the business sale?

Does it mean the company has entered liquidation or is the business just being wound up?Going out of business salesSeeing a company going out of business may not always mean that it is insolvent.

Sometimes it is a solvent company that is deciding to close down for a reason, such as a retirement, a merger or takeover by another company, or the business is no longer required.Whilst a solvent limited business does have to go through a liquidation process, usually, an MVL (members’ voluntary liquidation), its assets, any stock and equipment, will be sold off by the insolvency practitioner/liquidator and the proceeds will be used to pay fees, tax commitments, directors and shareholders.

So, whilst it is technically a liquidation sale, most solvent companies preparing for voluntary liquidation will plan ahead and hold a going out of the business sale in order to realise the maximum value from its assets, remaining stock and equipment prior to starting the liquidation process.An administration pre-pack saleWhen a company goes into administration, it is usually insolvent and is under serious threat from its creditors.