Sage 50 Canada

We bought a company who was using Simply. Their Year End was July 2018. We took over Oct 1st at which time their accountant took all the info up to Sept 30th and did a final ending statement. They told me to go ahead and continue using the program and…

I am setting up a new company for a client. I have the Fiscal year as Aug 1 2015-july 31, 2016. I have Loans and other journal entries that need to be added for july 22 2015 to Aug 1, 2015. Im confused on how to do it. The program won't let me add those…

I have 2 computers in class 50 per below: Computer-1: UCC at start of year = $800 Computer-2: UCC at start of year = $200 Computer-2 is damaged and I have junked it. No compensation was received for it (i.e., no insurance claim etc.). How do I fill…

Just switching over to Sage 50. So far so good except Retained Earnings. I have a net loss on my previous year of business. My Trial Balance Sheet balances perfectly after entering opening balances. Once I try to enter the net loss in the Retained Earning…

When the client receives a tax credit refund cheque - what account should be credited? Do you individually credit the asset accounts (as it is based on 5% of qualified property acquired in the current year)? And/or - should it have been made in the previous…

I have recently inherited a bit of an accounting tangle and we need to move onto the new fiscal without closing the old fiscals. Can it be done?

I started the new year before I processed the December 2016 bank recs. I can't change my session date back to December 31st so can i process the Dec Bank Rec in the January session date? The warning tells me it will affect my prior year reports and current…

I have recently taken over the accounting function. I noticed that the Retained Earnings at the end of 2015 does not match the opening balance for 2016. This throws my Trial Balance out of balance. I ran an Advanced Database check, but this didn't solve…

We have a USD account for Paypal. We enter the relevant date and exchange rate in the list used for that purpose (under Settings / Company / Currency). For example, at 30 Dec 2016, the Bank of Canada rate is C$1.3427 = USD$1.00, and in the FX list, we…

Hi All, this is all new to me....So I started my new year and have most of my information entered but just realized that I did not do my year end adjustments from my accountant. I cannot move back to the previous year, as I started a new one.....is there…

Similar too this post - it seems Sage does an automatic transaction if it finds a 0 balance at year end because it is quite obvious that if an account has $0 US funds in it, it must equate to $0 CA funds... https://sagecity.na.sage.com/support_communities…

How do I reverse my advanced fiscal yearend? It advanced to May 2017 to April 2018 and should be May 2016 to April 2017. [email protected]

Help, Here is our situation: An old sale invoice became uncollectable, our accountant made a year end adjusting journal: 1xxx: Allowance for doubtful accts: CR 10,000; 5xxx: Bad Debt Expense DR: 10,000; But, this invoice is still in our system…

Hi i am trying to post year end adjustments and need some help. I need to debit prepaid expenses (1201) and credit Insurance (5140). i can't do a journal entry because i can't post to prepaid expenses. Also i need to debit maintenance expense (5130…

Hi All; I have a client that recently started using Sage 50 Pro. When he created the company file, he input the Trial Balance values from the year end that he got from the accountant. This included an amount in A/P. Now he is trying to start his new…

Hi All, I am a bookkeeper for a sole proprietorship. When I took over last year I was basically left to figure everything out on my own and told to go off what had already been taking place. The business has never closed out Drawings at year end. I…

Can i post 3560 Retained earnings -Previous year ( Debit) and 5840 Clearance account ( Credit ) in the general Journal when doing year end ?

I have to post year end adjustments for 31/08/2014 but my session date now is 30/12/2014 how can i go back and post year end adj. to 31/08/2014?

Can i start my new fiscal year without printing out last years t4's. I've never done a new year on Sage and want to make sure i'm starting my new year properly and not ruining my chances to print off my 2015 t4's

Hello, Could someone please help me solve this problem: Integrity Summary: Total Debits 317,268.89 Total Credits 317,268.89 A/P Balance 3,412.60 Unpaid invoice/prepayments 3,390.00 A/R Balance 17,074.30 Unpaid invoiced/deposits 17,074.30 Advances…

I will need to add Code 77 to an employee's T4 form for monies we paid them but were reimbursed by WSIB. I file electronically. How can I do this?

Our year end will be Sept 30. Can we set the session date to Oct. 01 on Oct. 01 and continue to book items for September (Previous fiscal year). Being able to do this would be great as we can keep up with current October entries while still being able…

I am doing general journal entries for the accountant's year end adjustments. There is one account that won't let me post, acts like a linked account, (it will not appear in the drop down menu). The account is Inventory account, but when I look into the…

I encountered a discrepancy error when trying to reconcile my current month..after some investigation it appears some previously reconciled date was changed. I found out how to back out of my last reconciliation from the Sage website which I followed…

I am trying to record dividends for fiscal year end. In doing so, I tried to post against a G/L account 3600 'Current Earnings' which is already created and active, it is on the chart of accounts but, not listed for posting? Each time I try to post the…