If you share one set of data between two locations, consider either having the data hosted by a Sage 50 provider, or using a remote access solution (GoToMyPC, citrix, Terminal Server, TeamViewer, etc.) from one location to a computer at the other location.  

There is no good way to share using facilities such as Dropbox, skydrive, etc. since they can't work with databases.

Yes, the one activation code and serial is used on all the machines you install on.  

Dear RandyW ,

Please also let me know that which solutions will be best in my case which is : Data entered from any location should be simultaneously effective in both the computers.

Simply saying that data entered  in sage 50 premium from any location (which are at distant locations), it must be uploaded/downloaded immediately in both the locations; whereby giving same information in both the locations.

Rgds/AHK

Dear RandyW ,

Please also let me know that which solutions will be best in my case which is : Data entered from any location should be simultaneously effective in both the computers.

Simply saying that data entered  in sage 50 premium from any location (which are at distant locations), it must be uploaded/downloaded immediately in both the locations; whereby giving same information in both the locations.

Rgds/AHK

A hosted system works somewhat like online banking.  The bank has one set of data that you can access from anywhere.  To see hosting providers, scroll down on this page: http://na.sage.com/ca/sage-50-accounting/add-ons

Sage 50 is a client / server application.   The system has to be set up so that there is exactly one server. You can host your own system using remote access software as mentioned in the first post.  Computer consultants will know how to set this up.

The server can be XP, Vista, Windows 7, 8, Linux, Windows Server.  If you don't have a separate machine to use as a server, then one of the workstations has to be used as the data server.  The other computer(s) have to connect to the server through a local network connection.

If you want to find local assistance with setting up your system, you can search here:

http://na.sage.com/ca/accountant/locator