Sage 50 Canada

How do I Delete complete vendor, purchases and payments to start over. I added a new vendor Jan 1, 2024 and added purchases (pay later) and then payments. For some reason it is not working out and I want to delete the whole thing and restart. Can this…

Hello everyone, I have a question regarding clearing an AR balance and a recorded allowance for doubtful accounts. My client’s previous bookkeeper recorded an allowance for doubtful accounts many years ago when an amount was deemed uncollectible. The…

Hello, we are a medium size company currently using QBO. Once our accountant closes the books I am unable to make any changes to estimates. Is that a similar flaw in Sage 50? It causes me a lot of extra work because I frequently edit and update old estimates…

Why do the Journal numbers change when I adjust previous transactions? When I edit it , it counts it as another JE. I did up to 11 entries, but it says there's up to J45.

Took on a new client and had to create open balance sheet in Sage 50 from Dec 31, 2021 T2. I now have payments made in Jan 2022 for invoices posted in previous year (accounts payable) however I can not adjust via journal entry. How do I reduce AP? Th…

WSIB notified me that the entire industry sector (construction) had overpaid on premiums so they have issued a credit on our account - this is not actually a cheque but a balance on their system that any payments can be made against. My question is…

Hi, My payroll remittance and tax amounts are showing different than the initial payments I have made. for example in de 2021 sage is showing following numbers but I at the time of payment it was totally a different amount. CPP $8011.22 EI $3422…

I have one cheque that was written in 2021 but lost. I need to VOID this cheque and reissue in 2022. I can reverse the original payment with a JE so the new cheque will zero out the 2022 expense. This will ensure that my expense stays in 2021 and does…

I don't suppose anyone knows if there are any plans for Sage to allow more flexibility in editing entries (instead of creating a reversing entry), similar to what QB allows?

The new owners of the company have paid the previous owners a "Working Capital Adjustment". I am not sure what GL I should use to post the debit . Can someone advise me on this? Thanks!

Hello, Our company is staring a new Group RRSP plan. Most employees will contribute 3% of earrings, and the employer will match that. I am wondering what the steps are to set this up? I realize I need a new payable account for the Employee contribution…

Help please - Adjusting Differed revenue entry if the sale is through customer vendor list.

I have removed/reversed the transactions in the account. But I still can't delete it. The number of the account fall directly inbetween another 2 accounts that are in use. so I can't create a new header account to delete this one. It is stuck our in no…

How do I reverse a prepayment entry that was created in error. The "Reverse Payment" icon on the payments journal is greyed out. Thank you

Hi, I am sure this is a simple process, I need to update the unit cost of an item. I am only able to change selling price. When we enter a inventory adjustment the Unit Cost can be changed however we would like to change it so we can set it to default…

We have numerous (over half) of our clients that are inactive for more than 4 years, some for 10 plus years I am have them all inactive, but I would like to remove them so they don't show up in the customer list. When I try and delete them it tells…

I am new to SAGE 50 and have noticed some very big automatic inventory adjustments that have a description of "System Cost Adjustment". Is this because an item was taken out of inventory when it not there? Any help would be appreciated.

Hello community, I forgot to add the following regulation for both taxes in general ledger. Since the date is before (1 day) lockdown date, I cannot do it. What is the solution? Thank you.

Hi, While balancing January, I noticed a GJ entry for GST paid in July 2020. The date on the post is Jan. 28, 2022. I have looked at my 2020 year and cannot find a duplicate entry. The year end has already been done, of course, so I assume it got captured…

I have a paycheque that was posted in sage correctly on Jan 5th. I am currently doing the bank reconciliation for January and noticed that the EFT (not direct deposit, the shareholder transfers his paycheque directly from the business account to his personal…

I need to transfer all my expenses into cost of goods sold because I will claim them only at the sale of our flip house. I noticed that I have an amount in the retained earnings,previous years for expenses in 2019 and 2020. how I can remove the amount…

Hello, We're using Sage 50c Premium ver. 2021 and have set up our inventory ledger based on FIFO and not allowing negative inventory. For one particular "Item ABC", we purchased 200 units at USD 1.1 each, and at the exchange rate of 1.2607. The Inventory…

I have a client who consistently will pay one employee from two separate accounts. Eg. We create a cheque for 3500. she will pay 3000 from one account and 500 from another account. The cheque is produced on acct 1. So if this happens at the end of the…

hello all, we have a credit note recorded for a vendor. So the vendor owes us cash and this is because we paid the same bill twice in error. I now have a new bill to pay for this vendor which i have recorded in the purchase journal as a bill to be paid…

How do I record the journal entry for self assessed GST. I know the GST collected is a debit, GST paid on purchases and payment from my bank a credit. But how do I JE the amount that we paid to Revenue Canada for the GST self assessed on items? Any guidance…