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I am trying to import an invoice from a 3rd party .IMP file into Sage 50, but I keep getting the error "line 7 does not contain compatible tax information". I have tried multiple different tax code combinations, and I am still having the problem. If I…
I haven't been claiming and ITC for business meals and travel expenses but I recently learned that I can claim 50% of the HST as and ITC. How do I set this up in Sage to indicate that 13% tax was paid but only 50% of that tax is claimable as and ITC?
Looking for some advice on how to record ongoing GST/HST (Newfoundland and Labrador: 15%) for a capital lease...situation as follows:
Company recently entered into a capital lease agreement for 5 years, 8% interest, monthly payments (including interest…
Hello,
I am fairly new to sage. I was wondering for a GL entry if you have to enter the HST on a purchase or should it automatically record? I know when you create an invoice you can add it in, but for some reason it is not getting added in when I do…
I have a client who is based in BC. He was contracting his services to a company that used to also be based in BC. However, this company has been taken over by one in Ontario. Now when he is getting his royalty payment they are adding on 13% HST rather…
On my tax detail report, the total of taxes paid/charged figure correctly matches the figure on my balance sheet, and the total taxes charged matches the figure on my balance sheet. However the figure at the bottom of the Tax Detail report Net refundable…
Should we actually be using 2 different accounts for exchange gain vs exchange loss? It doesn't matter for the bottom line, net income will end up the same either way: Hmm... seems you can only configure one for the program to use automatically for adjustments…
Our sales tax rate changed July 1, so I set up a new tax code for this new rate. I thought I double checked everything and it was working great until now, 3 months later when I ran a report to show the balance of account 2315 GST/HST Paid on Purchases…
I was able to successfully change the old HST to 15% from 13% for July 1 2016 and on, but I need to be able to still use the old 13% tax code on invoices that come in that are dated before July 1 2016. Is there a way to have the code only use 15% on invoices…
My boss has sold his business - it was an asset sale. The business was in a corporation, so my boss retains the shares but is no longer operating. One of the requirements of selling the business was that my boss has to pay for renovations to the premises…
My apologies, I am not familiar with this program... I have always used quickbooks. I would like input my receipts that already have HST included ... how do i do this without the HST adding to each receipt again? Please tell me I don't I have to manually…
I have a new customer who has recently changed from sole proprietor to a corporation for her bakery. She is the only director and owns 100% of the shares in the corporation. This is the first time she will be using Sage as she only used Excel before.…
Hi Glenn77,
You can also follow the knowledge base article link below for steps to setup HST:
How do I setup sales taxes (GST, PST, QST & HST) in Sage 50-Canadian Edition?
Please note that First Step does not give you option to create new tax name…
How do I set-up HST for my company in Ontario? I have tried and tried and cannot get this to work! I have accounts set-up for HST charged on sales and paid on purchases but cannot seem to get Simply to set this up! Please help!
I started using Sage 50 at the start of this fiscal year (Oct. 1), but our HST year matches the calendar year. I initially entered our HST refund by creating the Receiver General as a Customer and entering the HST paid (as positive) and HST received …
