Hi WWynn,

You can follow the KB article link below for the step to setup accounts in the chart of accounts

How can I create an account in the chart of accounts?

For class options:

1870 computers - Capital Asset

5740 Training - General & Admin. Expense

1875 Accum Amort - Computers - Accum. amort. & Depreciation

1915 Accum Amort - Computer Software - Accum. amort & Depreciation

2105 Accrued Payables - Other Payable.

Hope this helps

Hi WWynn,

You can follow the KB article link below for the step to setup accounts in the chart of accounts

How can I create an account in the chart of accounts?

For class options:

1870 computers - Capital Asset

5740 Training - General & Admin. Expense

1875 Accum Amort - Computers - Accum. amort. & Depreciation

1915 Accum Amort - Computer Software - Accum. amort & Depreciation

2105 Accrued Payables - Other Payable.

Hope this helps

this is my 3rd attempt at reply to you - anyway...

Yes it did help me.  I found when I went in to create 1870 I did have one so re-numbered that one to 1873.  All others are created and I did have a couple bugs to work out but all is good now.  

One more question is I want to create another account for safety gear as we spend a significant amount on that and want to better monitor it.  Would I use class option operating expense or general and admin expenses or something else? No single expense will cost more than 499.99.

I don't know the GIFI codes for any of these things but will consult the CRA list to try to get that figured out.

Thank you so much Keith.

Wendy

I'm fresh out of college and don't have my textbooks handy.  I don't remember the rules for stuff that you just expense it right away and capital stuff that you buy and depreciate.  The latter is the stuff where you have the direct account ("Safety Equip") and an amortization ("Accum Amor - Safety") account and the accounting value of the stuff is the net between the two.

My off-the-cuff guess is that safety equipment would be the latter type.

Hi WWynn,

If that safety gear is an expense, you can use expense or operating opense for the class option and set that up as a 5000 level expense account.  If it is your asset, you will have to set it up at your 1000 level asset.

You can get help from one of our accountant partner to setup the backbone of your accounting data file.  You can find one of them from the link below:

http://na.sage.com/sage-50-accounting-ca/support/find-a-consultant

Hope this helps

Thank you Keith.

My CGA is one of the ones listed for my area.  He wasn't when I enlisted him but he's on the list now.

I am learning and getting better - much better thanks to all you guys since I started.  After the year end meeting with him he told me my bookkeeping is in order, so that was good to hear.

Wendy