3. Create Accounts

Using the Sage 50 Setup Guide will speed up the process of tailoring your Chart of Accounts and loading records. The Setup Guide is a series of wizards in the Sage 50 software that will provide guidance throughout the implementation process.

Note: detailed steps to set up your accounts are described in the Setting up the General Ledger section of your Get Started learning package on Sage University.

1. Create Chart of accounts

  • Reopen the Setup Guide by clicking Help > Getting Started.
  • Click Chart of Accounts (COA) to begin.

2. Modify GL Accounts

  • Read the introductory information about accounts, review the accounts already set up for your company and modify or delete any accounts you will not need. Refer to the Records Overview in the Get Started Guide if you are unsure how to modify the accounts.
  • How to create general ledger (GL) accounts

3. Enter opening balances

  • When you have finished tailoring your COA, continue to the beginning balances section. Follow the prompts in the Setup Guide to enter balances.
    WARNING: Read these instructions carefully and ensure that your total debits equal the total credits on the Beginning Balances window. You do not want an amount posted to Beginning Balance Equity. Do not click OK until you are in balance.
  • How to enter account beginning balances - This knowledgebase article is for customers that are not using the Setup Guide.
  • After successfully adding your GL beginning balances, verify the Rounding account or change it to another account.

4. Account Segments

  • If you want to define Account Segments for some or all your GL accounts, read that section in the Get Started Guide and watch the recommended video.
  • You can set these up using the Setup Guide during your account configurations, or you can set them up manually with the following article:

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