Sage 50 Canada

Hello I made a mistake entering wrong year. . There is a payable invoice dated 2021 June 30th. But I entered as year 2020. I was going to make a reverse entry dated as 2020 June 30th . But it doesn't let me do it because it is invalid date. And saying…

Can anyone walk me through the proper journal entries for this? Just prior to year end I wrote a cheque to a vendor in the wrong amount but posted the correct amount on the invoice. Yes, I still handwrite cheques, lol. As it is a small amount, the…

Upon trying to apply a partial Credit Note to a purchase invoice (of lower value) it seems I am not able to keep the remainder of the Credit Note but it has debited the whole remainder into my bank account. I used the Payments window and selected the…

I have had to manually input my Trial Balance from one computer to another, in which all totals match correctly. However how to I post to Accounts Payable (2100), as this was a total that was entered upon setting up the program on the new computer. This…

I have a supplier with a credit balance when it should be zero. There was an invoice posted that got reversed, however the credit is lingering on the supplier record. When I run the aged detail report and then try to drill into the CN, I get an error…

How do you guys handle situations multiple items are purchased that total over what the asset threshold (many accountants use $300 to $500) would be? For example if my client purchases a single table for $1000 I would allocate that expense to an asset…

I'm working on setting up my EFT Direct Deposit through Sage, and my Credit Union bank. The bank has set me up with CAFT and a username and password combo to upload my payroll EFT file too, however, Sage does not let me create any EFT references. Do…

I'm not sure where I clicked but I messed up the layout of Payments Journal window - see below. The columns of Amount, Allocation, etc got pushed away and I can't pull them back. When I open up a new Payments window for Make Other Payment, it looks the…

Hey there, When setting up from our last accounting software we had two accounts receivable, one in cad $ and one in us $, as well as three accounts payable, the extra being for GBP. When linking my accounts receivable to my customers for the linked…

Hi, I am trying to figure out the best way to record Subcontractor expenses in Sage 50 2017. Would it be best when entering the Subcontractor supplier invoice for labour to also record the expenses here i.e. gas reimb or materials Also, if no…

Long term liability account but what is the opposite and where do I post the payments to bring down the loan over the year. Where is the interest amount posted? Also car loan. Do I enter as Capital and how do I break out the interest from the principal…

Hello, Instead of making a purchase voucher, I made a general journal entry and cleared the accounts payable account via cash. However, instead of this amount linking to the accounts receivable, I know have amounts in both A/P and A/R. How can I transfer…

I was issued a credit memo in 2015 for some merchandise that was returned by our company to the vendor. To date, we had not used the credit memo. The vendor has closed its operation in our community so it issued a cheque for the balance. When I originally…

Hi, Our company has some old outstanding purchase invoices that don't make any sense for now. Therefore I would like to create credit note with negative amount to clear them. However, when I tried to clear them in 'Payments', after making sure the Total…

Our company is CDN but also does business in the US. So, we have set up a US bank account. We invoice our US customers in US funds and they pay accordingly. We also purchase US products (COGS, etc.) and pay for these using our US account. My problem…

Hi all, I issued a chq as a prepayment (no invoice selected) because the invoice had not been received. Everything seemed good as normal. However, when I wanted to clear the payment by the invoice, I was not able to find the payment. I looked up by…

Hi everyone, I am new to Sage50 Canadian edition, any help is appreciated. I am using Pre Sag50 2016. Several products have been built using Build from Item feature, and were recorded as Lot# of the product. I used - Inventory & Service module - Build…

I received an invoice from one of our vendors today, we have a credit on our account with them so the entire invoice was just applied to our account. My question is what is the proper was\y to enter in this invoice since it will not show up on any of…

Hi, I am working on our fiscal year end. I went to do the transaction in my GJ "To Correct Payroll A/P with Expense for Year End" According to my calculations it looks like this: Dr. Cr. 2180 EI Payable 1,624.32 2185 CPP Payable 3,217.44 …

We received an insurance invoice which will be paid over 12 months by automatic deductions from the bank. When we posted the invoice to A/P the entire amount was debited to the Insurance account. How should we have posted this so only the payments are…

i have been using sage 50 for years but i now have it for my own small business. it seems to have more features than the version i have at work. for example, when i create a purchaase invoice, it gives me the option to select from the inventory which…

Some of my vendors are set up for direct deposit however my system is no longer recognizing this and new supplier invoices are recorded as if they will be paid via cheque. Any idea how I can fix this?

We have a company that we buy lab supplies and also have a service contract. Since it's the same company, I have to remember to change the account when I post the Service Contract which I forgot twice. One is posted in the previous year (15/01/2015…

I have a new client that has many outstanding payables from a few years ago. These were paid either by chq, or cash but was never cleared through the accounts and therefore outstanding, I would like to clear this up so that it will be current and accurate…