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account number

Faraneh Torabi
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I’m using Sage Online for my small business in Canada and I’m a bit confused about how to set up a credit card account correctly. Here’s my situation:

  • I created a credit card account in the Banking section so I can do reconciliation.

  • Sage automatically assigned account number 1070.

  • I know that a credit card is a liability, so I assigned GIFI code 2362.

My question is:
Do I need to change the account number from 1070 to a liability-type number, or is it correct to leave it as 1070 and just use GIFI 2362?

I would really appreciate any guidance from people who have experience with Sage and Canadian accounting standards.

Thank you!

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  • 0
    Suggested

    Hi  

    Sure, you can change the account number to a  number that hasnt been used in the Chart of Accounts.

    Steps to Change an Account Number

    1. Log in to Sage Accounting.
    2. Go to Settings (gear icon) → Chart of Accounts.
    3. Locate the account you want to edit.
    4. Click Edit next to the account.
    5. Update the Account Number field with the new number.
    6. Click Save.

    I hope this answers your questions

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  • 0
    Suggested

    Hi  

    Sure, you can change the account number to a  number that hasnt been used in the Chart of Accounts.

    Steps to Change an Account Number

    1. Log in to Sage Accounting.
    2. Go to Settings (gear icon) → Chart of Accounts.
    3. Locate the account you want to edit.
    4. Click Edit next to the account.
    5. Update the Account Number field with the new number.
    6. Click Save.

    I hope this answers your questions

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