New expense line & budget

Question

Hi All, 
 
 I have a two part question. 
 First, I need to add a new expense line to my accounts in the General Ledger using SAGE 50 starting in June. What is the simplest way to do this? 
 Secondly, all my revenue and expense accounts are linked to a budget that I entered at the beginning of the year as a matrix? If I add a new line, will the expense budget lines be affected and/or will a budget line be automatically created? 
 Please explain the steps I need to use. 
 
 Thanks very much, 
 Marianne

Erzsi_I · Accepted Answer

Hi Marianne McVittie , 
 Thanks for your detailed question! Here&rsquo;s how to approach both parts of your request: 
 
 Part 1 &ndash; Adding a New Expense Line 
 To add a new expense line to your General Ledger in Sage 50, you&rsquo;ll need to create a new account in your Chart of Accounts : 
 ️ Follow these steps: How to create an account in the Chart of Accounts 
 When setting it up:

Ensure the Account Class is set to &ldquo;Expense.&rdquo;

You can enter the budget details during creation or leave it blank and update it later.

Part 2 &ndash; Linking the New Account to Your Budget 
 Budgets in Sage 50 do not automatically update when new accounts are added &mdash; you'll need to manually enter budget values for the new line. 
 Here&rsquo;s how: How to enter a budget by period for accounts only 
 Best Practice Tip (GAAP-aligned): When modifying budgets mid-year, document your assumptions and clearly separate any new allocations. This maintains audit traceability and makes it easier to justify changes later. 
 Also, just a heads-up:

The budget tool in the Chart of Accounts is different from the one in the Projects module . You can read more about the difference here: Budgets in Chart of Accounts vs Projects

Hope that this helps! Let us know how it goes. 
 Best regards, Erzsi

Sage 50

New expense line & budget

Top Replies

COMMUNITY

COMPANY

PARTNERS

SUPPORT & TRAINING